What are the responsibilities and job description for the Escrow Compliance Specialist position at Solidifi Title & Closing LLC?
About the Role:
The Escrow Compliance Department serves as the main point of contact for underwriter and state-specific audits, prevents fraudulent activity, and reconciles bank accounts for discrepancies. This role involves gaining a comprehensive understanding of escrow fees, regularly reviewing underwriter manuals, and ensuring compliance with state and regulatory standards. The Escrow Compliance Specialist is responsible for maintaining the accuracy and integrity of escrow operations.
Candidates need to be able to work in a fast-paced team environment using excellent communication skills. A background in basic banking and accounting principles is helpful; however, qualified candidates must be eager to learn about the title insurance industry.
The ideal candidate is enthusiastic, with a strong passion for their work and a commitment to delivering quality results from the start. If you are the type of person that is passionate about your work and is not willing to produce mediocre results, you are a good candidate for this position.
About the Team:
At Solidifi, our Title & Closing teams are in an exciting period of substantial growth. Through fast-paced, high-volume work that extends across the country, team members have the unique opportunity to contribute to becoming a top player in the industry. With our centralized approach to the closing process, team members have the chance to become subject-matter experts on specific pieces of the real estate transaction.
Escrow Specialists:
- Perform daily three-way reconciliations of all escrow and recording accounts, resolving any discrepancies promptly
- Obtain and review documentation required for internal, state, and underwriter audits, ensuring completeness and compliance with audit standards
- Gain a thorough understanding of escrow fees and regularly review underwriter manuals
- Process underwriter remittances monthly in accordance with underwriter guidelines
- Format, import, and reconcile daily recording invoices into software platforms, maintaining seamless integration with accounting systems
- Conduct daily reviews of trial balance and outstanding checks reports, addressing any inconsistencies
- Assist with the annual submission of escheatments, adhering to state unclaimed property guidelines
- Identify and fund shortages in escrow and recording accounts, ensuring proper funding and resolving account imbalances
- Review recording fees collected against recorded documents to ensure appropriate refunds are issued to the correct parties
- Communicate professionally with clients and customers, providing timely and effective responses to inquiries
Skills and Experience Required
- University Degree or equivalent knowledge/experience
- Accounting background preferred but not required
- Effective written and verbal communication skills
- Strong attention to detail
- Possess a high level of accountability and follow through on all internal and external resolution needs
- Ability to work independently and remain self-driven
- Proficient in Microsoft Office applications, particularly Excel
- Accounting software knowledge and experience is a plus
“The above statements are intended to describe the general nature and level of the work being performed by people assigned to this job. They are not intended to be an exhaustive list of all responsibilities, duties and skill required.”
About Solidifi
Solidifi is a leading network management services provider for the residential lending industry. Solidifi’s platform combines its proprietary technology and network management capabilities with tens of thousands of independent qualified field professionals to create an efficient marketplace for the provision of mortgage lending services. Our clients include the majority of top 100 mortgage lenders in the U.S. Solidifi is a leading independent provider of residential real estate appraisals to the mortgage market and a leading independent provider of title and mortgage closing services in America. Solidifi has offices in Buffalo (NY), Denver (CO) and Middletown (RI). Solidifi is a wholly-owned subsidiary of Real Matters Inc. (TSX: REAL).
For more information, please visit www.solidifi.com.
Equal Opportunity Employer
Solidifi is an Equal Opportunity Employer; applicants are considered for all roles without regard race, religion, color, sex, gender identity, sexual orientation, age, non-disqualifying physical or mental disability, national origin, veteran status or any other basis covered by appropriate law. All employment is decided on the basis of qualifications, merit, and business need. Please advise us at any point during the recruitment and selection process if you require accommodation. Solidifi is committed to compliance with all applicable legislation, including providing accommodation for applicants with disabilities