Escrow Specialist (Loan Servicing)

The Servicing Escrow Support Specialist supports the administration and maintenance of mortgage escrow accounts throughout the life of the loan. This position is responsible for servicing activities related to Real Estate Taxes, Homeowners and Flood Insurance, Private Mortgage Insurance (PMI/MIP), Escrow Analysis, and Insurance Loss Draft Administration to ensure compliance with investor, agency, regulatory, and company requirements.

The Specialist processes transactions, maintains accurate loan records, researches and resolves servicing issues, and collaborates with internal and external stakeholders to ensure timely and accurate escrow servicing. This role contributes to operational excellence, customer satisfaction, risk mitigation, and the protection of collateral securing mortgage loans.

ESSENTIAL DUTIES & RESPONSIBILITIES

Escrow Servicing Operations

• Process escrow-related transactions accurately and timely in accordance with established procedures and service level expectations.
• Maintain escrow account records and servicing system updates across assigned functions.
• Research and resolve routine servicing inquiries, discrepancies, and exceptions.
• Communicate effectively with borrowers, investors, vendors, insurance carriers, tax authorities, and internal business partners.
• Ensure compliance with investor, agency, regulatory, and company servicing requirements.
• Assist with quality control reviews, audits, reporting activities, and operational initiatives.
• Identify opportunities for process improvement and escalate concerns when appropriate.
• Maintain productivity, quality, and customer service standards.

Functional Responsibilities

Real Estate Taxes

• Monitor and maintain real estate tax records for serviced mortgage loans.
• Review and process tax bills to ensure timely payment from escrow accounts.
• Research and resolve tax-related discrepancies, delinquent taxes, and payment exceptions.
• Communicate with tax service vendors, municipalities, and borrowers to obtain and verify tax information.
• Support compliance with tax servicing requirements and investor guidelines.

Homeowners and Flood Insurance

• Review and maintain homeowner, flood, and hazard insurance coverage records.
• Verify policy renewals, coverage requirements, and compliance with investor guidelines.
• Process insurance exceptions and support lender-placed insurance activities when necessary.
• Communicate with insurance carriers, agencies, vendors, and borrowers regarding policy information and requirements.
• Ensure insurance records are accurately maintained within servicing systems.

Private Mortgage Insurance (PMI/MIP)

• Monitor and maintain PMI and FHA MIP coverage on applicable mortgage loans.
• Process premium collections, disbursements, and coverage updates.
• Review accounts for PMI cancellation, termination, or removal eligibility.
• Process borrower requests and required documentation related to mortgage insurance servicing.
• Research and resolve mortgage insurance billing and coverage discrepancies.

Escrow Analysis

• Perform escrow analyses in accordance with RESPA requirements and investor guidelines.
• Review escrow balances to identify shortages, surpluses, deficiencies, and payment adjustments.
• Research and resolve account discrepancies and reconciliation issues.
• Prepare and process escrow payment changes and customer notifications.
• Support quality reviews and reconciliation activities related to escrow administration.

Insurance Loss Draft Administration

• Process insurance claim proceeds and maintains loss draft accounts following property damage events.
• Review documentation required for claim disbursements.
• Monitor repair progress and inspection requirements.
• Communicate with borrowers, contractors, insurance carriers, and internal stakeholders throughout the claims process.
• Support compliance with investor, insurer, and regulatory requirements related to loss draft servicing.

EDUCATION & EXPERIENCE

• High School Diploma or equivalent required.
• 0-3 years of mortgage servicing, banking, financial services, insurance, or related experience.
• Strong attention to detail and organizational skills.
• Ability to manage multiple priorities in a fast-paced environment.
• Strong analytical and problem-solving skills.
• Effective verbal and written communication skills.
• Proficiency with Microsoft Office applications.
• Ability to learn and apply mortgage servicing policies, procedures, and regulatory requirements.

Preferred

• Associates or Bachelors degree in Business, Finance, Accounting, or a related field.
• Experience in mortgage servicing, escrow administration, insurance servicing, tax servicing, or customer service operations.
• Knowledge of RESPA and mortgage servicing practices.
• Experience using mortgage servicing platforms and workflow systems.

This employer participates in E-Verify. If hired, the employer will provide the federal government with your Form I-9 information to confirm that you are authorized to work in the U.S.

Union Home Mortgage Corp. provides equal employment opportunities to all employees and applicants for employment and prohibits discrimination and harassment of any type without regard to race, color, religion, age, sex, national origin, disability status, genetics, protected veteran status, sexual orientation, gender identity or expression, or any other characteristic protected by federal, state or local laws.