Escrow Specialist

Overview:
Old National Bank has been serving clients and communities since 1834. With $48 billion in total assets, we are a regional powerhouse deeply rooted in the communities we serve.

As a trusted partner, we thrive on helping our clients achieve their goals and dreams, and we are committed to social responsibility and investing in our communities through volunteering and charitable giving.

Our team members are our greatest asset, and we continually invest in their growth and development.

We offer a variety of led by team members who are passionate about driving engagement, creating awareness of diverse backgrounds and experiences, and building inclusion across the organization.

We are currently seeking an Escrow Specialist that will process tasks relating to: monitoring tax payments and insurance/flood vendors, private mortgage insurance and Rural Housing premiums, FHA premiums and fulfills customer needs to ensure customer satisfaction.

The Escrow Specialist is responsible for compliance with Freddie Mac and Fannie Mae servicing requirements. Responds to internal and external customer's requests regarding escrow analysis, private mortgage insurance cancellation, taxes and insurance inquiries.

The Escrow Specialist position is part of the Mortgage Servicing team.

The Escrow Specialist is responsible for all aspects of escrow account management on first mortgage loans serviced in Mortgage Servicing on the Black Knight servicing system.

Duties include but are not limited to annual escrow analysis review, property taxes, homeowners, flood and force placement insurance requirements and private mortgage insurance all of which are highly regulated and monitored internally by Audit and Compliance.

Associates interact with both internally and external customers, vendors and government agencies.

Key Accountabilities

Production:
Private Mortgage Insurance (PMI): Process and pay monthly/annual premiums and complete borrower requested and automatic terminations and cancellations. Responsible for escrow account analysis - complete annual escrow analysis and set up new escrow accounts while complying with RESPA regulatory requirements

Ensure insurance premiums and tax payments on escrowed loans are processed timely and accurately.

Monitoring:
Review cancellation and termination reports, and ensure federal guidelines are met regarding termination and cancellation of PMI per HPA guidelines

Review exception reports and determine issue and solution of annual escrow analysis and RESPA guidelines are adhered to.

Monitor escrow accounts to ensure homeowners insurance, PMI and tax payments are processed timely.

Reconciling discrepancies between the servicing system and origination system as new loans board to the servicing department

Customer Service:
Assist internal and external customers with questions regarding changes in escrow account.

Work with Fannie Mae and Freddie Mac to ensure PMI terminations and cancellations are completed accurately.

Explain to internal and external customer the HPA (Homeowner's Protection Act) guidelines for PMI

Correspond with Insurance Agencies, County Offices and vendors regarding insurance policies, insurance force placement and tax payments.

Skills and Qualifications

Minimum 2 years of Loan servicing experience or equivalent

High School Diploma or GED

Customer service, team and goal oriented with a positive attitude towards work and others.

Excellent written and verbal communication skills are needed to interact with internal staff and external customers.

Ability to effectively multi-task and prioritize workflow in a high-volume environment, ability to work well independently, as well as part of a team to achieve department/group goals.

Old National is proud to be an equal opportunity employer focused on fostering an inclusive workplace and committed to hiring a workforce comprised of diverse backgrounds, cultures and thinking styles.

As such, all qualified applicants will receive consideration for employment without regard to race, color, religion, sex, national origin, protected veteran status, status as a qualified individual with disability, sexual orientation, gender identity or any other characteristic protected by law.

We do not accept resumes from external staffing agencies or independent recruiters for any of our openings unless we have an agreement signed by the Director of Talent Acquisition, to fill a specific position

Our culture is firmly rooted in our core values.

We are optimistic. We are collaborative. We are inclusive. We are agile. We are ethical.

We are Old National Bank. Join our team

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