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Escrow Clerk - MSI
Wayne, NJ
Job Description
The Escrow Clerk - MSI will disburse payments for real estate taxes, homeowners, flood, PMI, optional insurance premiums and MIP insurance premiums timely for escrowed accounts; maintain direct contact with taxing authorities, insurance companies/agencies, borrowers and our tax and insurance vendors to ensure quality customer service; verify all non-escrowed accounts have the appropriate insurance coverage and updated tax information.
40
Responsibilities include but are not limited to:
Exact compensation may vary based on skills, experience, and location.
$35,200.00
$58,700.00
Valley National Bank is an Equal Opportunity / Affirmative Action Employer. All qualified applicants are encouraged to apply, and will be considered without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, protected veteran status, or other legally protected characteristics, and will not be discriminated against on the basis of disability.
40
Responsibilities include but are not limited to:
- Reconcile data and disburse checks for all regular real estate, abatement and added assessment taxes to either our tax payment service or direct to municipalities prior to due dates. Reconcile all data and disburse checks to the appropriate insurance payee prior to renewal.
- Communicate daily with our third party insurance tracking company to ensure proper coverages are in place at all times and in accordance with Bank, government and investor guidelines.
- Review weekly open item tax and insurance reports. Communicate directly with our tax and insurance vendors to obtain the amount due on accounts where disbursement listings have not been received. All open items are paid manually to ensure prompt payment and avoid any penalty for late payments.
- Research past due and/or delinquent status reports from our tax and insurance vendors for escrowed and non-escrowed accounts for any delinquent real estate, added assessment and utility charges or homeowners or flood insurance premiums.
- Monitor and process loss draft checks in accordance with investor and bank guidelines. Issue periodic reports to department management team.
- Communicate with borrowers and taxing authorities or insurance companies/agents to resolve any and all tax or insurance issues.
- Review escrow analysis statements with borrowers.
- Assist Customer Service representatives as needed in times of heavy telephone volume.
- Communicate with our tax service to ensure all 1st mortgage loans have a valid tax contract in place.
Required Skills:
- General understanding of mortgage loan servicing.
- Ability to add, subtract, multiply and divide in all units of measure.
- Ability to write routine correspondence.
- Ability to think independently and make appropriate decisions.
- Ability to perform multiple tasks through effective prioritization and time management, and demonstrate attention to details.
- Strong analytical and reconciliation abilities.
- Strong computer skills including electronic mail, routine database activity, word processing, spreadsheets, graphics, etc.
- Ability to anticipate the implications and consequences of situations and take appropriate action to be prepared for possible contingencies.
Required Experience:
- High School Diploma or GED and a minimum of one year's related experience in a financial services organization handling loan servicing or insurance.
Exact compensation may vary based on skills, experience, and location.
$35,200.00
$58,700.00
Valley National Bank is an Equal Opportunity / Affirmative Action Employer. All qualified applicants are encouraged to apply, and will be considered without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, protected veteran status, or other legally protected characteristics, and will not be discriminated against on the basis of disability.
Job Summary
Company
Start Date
As soon as possible
Employment Term and Type
Regular, Full Time
Salary and Benefits
$35,200.00-$58,700.00
Required Education
High School or Equivalent
Required Experience
1+ years
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