Loan Escrow Processor

Scope of Job:

This position requires work with loan documentation and loan servicing in accordance with established systems and procedures by performing high volume, time sensitive tasks that require a high degree of accuracy. Will provide high quality customer service to both internal and external customers while meeting the bank's compliance and documentation quality standards. Must maintain a high level of customer confidentiality.

Will work directly with customers, external agencies, management and other areas within the bank to maintain service standards and operational efficiency with a high degree of accuracy.

Primary Duties:

Under the guidance of the Loan Operations Administrator, serve as Escrow Processor for all loans secured with manufactured homes and/or real estate to ensure accurate and timely payments for insurance, taxes, or other related fees.

Primarily responsible for sorting incoming mail daily as it relates to insurance for hazard, flood, and vehicle policies protecting BW collateral. Will update insurance escrow disbursement information from bills and/or dec pages. Will also update insurance tracking on nonescrowed loans secured with manufactured homes (MH) and/or real estate (RE) and scan appropriate documents to cold storage (OnBase).

Verify accuracy of information boarded on BankWest's mainframe system (Horizon) on newly activated loans with escrow. Perform maintenance on closed loans secured with MH or RE to remove tracking and to reimburse escrow balances as outlined by Final Escrow Disclosure(s).

Manage bankwide hazard and flood insurance tracking, including any required insurance force placement. Maintain taxes and force placed insurance calendars and permissions. Perform research and provide assistance in troubleshooting inconsistencies and making service calls. Develop reports/tracking to ensure escrow disbursements are accurate and paid on time.

Serve as Administrator for Lereta System used by bank to track whether real estate taxes are paid by borrowers on collateral held by the bank. This includes reporting of new mortgage/collateral information, cancelling tracking on properties no longer held by BankWest, resolving reporting/tracking disputes, and communicating with lenders on taxes reported as past due.

Primarily responsible for paying taxes on escrowed loans and scanning appropriate documents to cold storage (OnBase). This duty includes requesting tax amounts from various agencies/sources as well as developing a tracking system to ensure taxes are accurate and are paid before prescribed deadlines.

Primarily responsible for performing and mailing annual escrow analyses on a monthly basis. This includes researching surpluses above a bank-determined limit, ordering coupons, updating recurring transfers, and performing research related to lender or customer inquiries.

Serve as dual control reconciler for escrow disbursement checks issued through computer generated checks for payment of taxes and insurance. Also serve as backup for production functions as needed for loan documentation, activation, maintenance, and payments.

Update and maintain SOPs for assigned tasks. Responsible for compliance with all laws and regulations pertinent to work performed. Adhere to bank policies and procedures along with all state and federal laws and regulations relevant to escrowed loans.

Secondary Duties:

Work as a team with departmental counterparts on planning and implementing assigned projects and products.

Participate on various committees and project teams as deemed appropriate by management.

Attend, actively participate in organization, job specific training offered, and Quality Service programs.

Adhere to all applicable Policies and Procedures of BankWest organization.

Community involvement is strongly encouraged.

Other duties as assigned.

Requirements

Education:

A high school diploma or equivalent.

Experience:

1 years' experience in related field.

Knowledge and Special Skills:

Ability to work dependently and/or independently, under pressure, meet deadlines, and adjust work schedules as needed to complete job responsibilities.

Ability to organize and handle multiple responsibilities while delivering quality external and/or internal Customer Service.

Strong interpersonal skills to ensure effective communication with external and/or internal customers.

Knowledge or ability to learn regulatory requirements pertinent to performance of specified duties in job description.

Knowledge of banking terminology and procedures.

Ability to skillfully use a variety of application software, learn computer programs, and comprehend the program output.

Adhere to Federal Privacy Standards in addition to following BankWest requirements for electronic communication and Social Engineering standards.

BankWest is a "Sales Organization" and all employees are expected to participate directly or indirectly with increasing BankWest's presence in their markets as appropriate.