Head of Commercial Escrow Services

2 weeks ago


Meriden, Connecticut, United States Planet Home Lending Full time
Job Overview

Location
Remote

Position Summary

The Senior Vice President of Commercial Escrow Management plays a crucial role in crafting and executing strategies that enhance the overall productivity and effectiveness of the commercial escrow operations. This includes overseeing real estate tax, insurance, escrow evaluations, and construction disbursements in compliance with applicable laws and guidelines.

Key Responsibilities
  • Oversees the operations of the Commercial Escrow department within the Commercial Loan Servicing sector; establishes and maintains operational controls, supervises task delegation, tracks workflow and outcomes, and innovates processes as necessary. Strives for a balance between profitability, regulatory compliance, and exceptional customer service.
  • Supervises relationships with Commercial Escrow vendors, ensuring performance management, training, and development activities are effectively conducted. Sets team priorities and regularly reviews expectations to guarantee that tasks are completed to high standards.
  • Ensures the accurate and timely processing of all real estate tax and insurance payments. Manages comprehensive escrow evaluations in line with regulatory mandates and acts as a liaison for vendor automation and issue resolution.
  • Collects and reviews monthly operational metrics and reports. Evaluates trends, discrepancies, and challenges. Provides detailed reporting outcomes, including production metrics and forecasting projections.
  • Monitors vendor performance to ensure adherence to business regulations.
  • Guarantees that all system enhancements related to escrow are implemented and that policies and procedures are current and comprehensive.
  • Tracks accounts for necessary insurance coverage, ensuring timely notifications and follow-ups. Secures insurance as required by applicable laws and guidelines.
  • Ensures that non-escrowed taxes are monitored and payments are made to safeguard company interests.
  • Facilitates the completion of all mandatory notifications to clients as dictated by law, including annual escrow evaluations and short-year statements.
  • Responds promptly to escalated inquiries, ensuring compliance with all relevant laws.
  • Monitors all loss drafts in accordance with investor guidelines.
  • Ensures timely and precise setup of all tax, insurance, and mortgage insurance data for new and acquired loans, ensuring ongoing updates as necessary.
  • Ensures the proper crediting of interest on escrow accounts in accordance with legal and investor guidelines.
  • Completes additional duties as assigned.
Qualifications

Education
  • High school diploma or equivalent required.
  • Bachelor's degree in finance or accounting, or equivalent relevant experience required.
Experience
  • At least 10 years of experience in mortgage servicing required.
  • A minimum of 5 years in a leadership role required.
  • Experience in loan servicing within an Escrow Administration, Real Estate Tax, or Insurance context is strongly preferred.
Skills
  • Proven leadership capabilities with a focus on achieving results.
  • Exceptional written and verbal communication skills.
  • Strong organizational and time management abilities.
  • Excellent problem-solving and technical skills.
  • Advanced proficiency in Excel and the MS Office Suite.
  • Ability to thrive in a fast-paced environment.
  • Capability to manage multiple priorities and meet deadlines effectively.
  • Highly organized, detail-oriented, and proactive.
  • Strong analytical and mathematical skills.
  • Ability to engage effectively with managers and team members across various business functions.
Work Environment

This position is typically performed in a standard office setting. The physical demands of this role include maintaining consistent attendance, effective communication, and the ability to perform tasks that require standing, walking, sitting, and using hands and fingers. The employee may occasionally lift or move up to 10 pounds. Specific vision requirements include close vision and the ability to adjust focus. Reasonable accommodations may be made to enable individuals with disabilities to perform essential job functions.

This job description is intended to provide a general overview of the position and is not exhaustive of all duties, responsibilities, or qualifications associated with the role.

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