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Fifth Third Bank · 1 day ago

Mortgage MP Escrow Specialist II

Cincinnati, OH

Full-time

Onsite

Entry, Mid Level

2+ years exp

Fifth Third Bank is committed to connecting great people to great opportunities in banking. The Mortgage MP Escrow Specialist II is responsible for conducting complex customer research related to escrow analysis, tax, and insurance while ensuring timely resolution of related issues for various accounts.

BankingCommercial LendingFinanceFinancial ExchangesFinancial ServicesLendingMedia and EntertainmentMortgage

Responsibilities

Handle complex calls with customers related to escrow analysis, tax, insurance, PMI and FHA

Act as key contact for Office of the President and other 3rd party agency complaints

Assumes a high level of responsibility in resolving escalated research issues related to customer accounts

Trains new employees and employees from other areas on various insurance, tax and analysis functions

Able to assist with quality audits and vendor management

Responds to assessments from QC & compliance departments

Work the monthly trial balance analysis report, payment change & surplus reports (monitored by FDICIA and Sarbanes Oxley) to ensure customers mortgage payments are adjusted in accordance with RESPA guidelines

Review & document any accounts with payment increases or decreases that fall outside of the established escrow parameters

Complete the daily shortage payment reports to ensure that customer's payments are adjusted correctly

Complete monthly exception report to clear any error that would prevent the annual analysis

Work exception reports from escrow vendors to ensure the timely completion of payment processing for monthly transactions, monitored by FDICIA & Sarbanes Oxley

Prepare wires to outsourced providers of tax and insurance

Complete weekly audits of outsource providers to ensure proper compliance with Federal, investor and Bancorp requirements

Review, approve or deny & pay claims for tax provider that result in 5/3 charge offs

Work closely with venders, customers, tax agencies, insurance companies & affiliates on customer services issues relating to escrow processing; make appropriate account adjustments to correct improper escrow line set-up issues

Work w/ Title Agencies to file claims on incorrect legal descriptions they provided and to also get corrected legal descriptions & title commitments to secure the bank's asset

Track & recover corporate advance utilized to clear incorrect escrow payments

Process daily correspondence & send to vendors in overnight transactions

Complete customer requests to add, delete & reanalyze escrow accounts

Clearly explain customers escrow analysis statements, involves detailed mathematical understanding and calculations

Research insurance & tax issues that create overages & shortages on customer accounts

Ensure monthly analysis checks & statements are mailed to customers in accordance with RESPA guidelines

Work w/ default to ensure accounts coming out of bankruptcy & loan modifications are analyzed w/in 30 days according to RESPA requirements

Qualification

Escrow analysisTaxInsurance knowledgeQuality controlMicrosoft ExcelCustomer service skillsAnalytical skillsMeet deadlinesVerbal communicationWritten communication

Required

Associate's Degree or equivalent combination of training and experience in related field

Minimum 2-3 years related experience required

Knowledge of the fundamental concepts related to mortgage, consumer, auto and lease and the ability to apply that knowledge in a quality control function

Basic knowledge of the Bank's, Investor's, Government and Underwriting Program requirements

Basic knowledge of all documents used by the Bank in the origination of FHA, VA and conventional loans

Knowledge in Microsoft Outlook, Word, Excel and Access (or equivalent database reporting programs)

Strong Customer Service Skills

Strong verbal and written communication skills

Strong analytical skills

Ability to work efficiently with a low margin of error

Ability to work independently and meet deadlines

Benefits

Comprehensive benefits and differentiated compensation offerings

Extensive benefits programs are designed to support the individual needs of our employees and their families

Company

Fifth Third Bank

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Fifth Third Bancorp is a financial services company that specializes in small business, retail banking, and investments. It is a sub-organization of Fifth Third Bank.

Founded in 1858

Cincinnati, Ohio, USA

10001+ employees