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Servicing Representative
People's United Bank
Williston, VT, United States
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Job Description
At People's United Bank, our story reflects not only our banking history, but also our fundamental principles. We believe that, by offering empathy and expertise to our customers, giving back as partners in our communities, and valuing the know-how of our employees, we all succeed together. People’s United Bank was ranked #1 Best Employer of U.S. Banks by Forbes in 2018, which is a testament to our commitment to our employees and culture.
This position is responsible for the accurate and timely payment of all escrowed taxes, insurance, FHA and PMI, including compliance with all RESPA and CFPB requirements and any regulations associated with the handling of escrows. In addition, this position updates accounts for any escrow increases or decreases and adjusts customer’s billing as necessary. This position also sets up new escrows for both commercial and residential loans and reviews the accuracy of all escrow analysis along with the resulting shortage or surplus calculated.
Principal Responsibilities:
Pays all commercial and residential taxes for borrowers that have “escrow collection” set up on their loans. Works with our tax vendor and individual towns/counties to obtain updated tax information. Updates the core system to reflect disbursements made and adjusts billing as necessary while working within the regulatory guidelines for RESPA and CFPB.
Pays all escrowed hazard and flood insurance in adherence with time schedules and department standards. Updates the system to reflect payments.
Monitors and pays past due taxes for all commercial customers who have not setup escrows. Works with Loan Officers throughout the Bank’s footprint to determine appropriate course of action for bringing the borrower current and determining the proper repayment method.
Reconciles and pays the Private Mortgage Insurance (PMI) and Federal Housing Authority (FHA) bills while working within the regulatory requirements.
Reviews all escrow analysis generated and the consequential shortage and surplus calculated to validate accuracy.
Provides a high level of customer service to internal and external customers. Completes additional work and administrative tasks as assigned.
Adheres to compliance procedures and internal/operational risk controls in accordance with any and all applicable regulatory standards, requirements, and policies.
Job Requirements
High School diploma or equivalency required.
1 -2 years relevant experience.
Organizational skills and strong attention to detail and accuracy are required to perform tasks efficiently in high volume situations with tight deadlines. Ability to multi-task and be flexible as priorities shift.
Proficiency in basic PC skills. Strong word processing skills required. Ability to learn additional programs/applications as required.
Strong written and verbal communication skills are needed to interact with internal and external customer.
Ability to work well in a team environment.
Ability to complete work independently.