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Newtown Savings Bank · 1 month ago

Loan Servicing Collateral Tracking & Escrow Specialist (onsite)

Newtown, CT, US

Full-time

Onsite

Entry Level

1+ years exp

Newtown Savings Bank is seeking an organized, team player to fill the role of a Loan Servicing Collateral Tracking & Escrow Specialist. This position is responsible for collateral tracking, including the payment of real estate taxes and any type of escrowed expense, and ensuring compliance with regulatory requirements.

Financial Services

Responsibilities

Assist in processing escrow disbursements such as taxes, hazard insurance, flood insurance, private mortgage insurance, lender placed insurance, credit life and disability, and remit in a timely manner

Assist in the annual escrow analysis process ensuring state and federal regulatory requirements are met. Order annual escrow statements; analyze overages and shortages and/or deficiencies for all escrow accounts

Responsible for the review of all loans in a designated flood zone, as well as loans remapped into a flood zone. Assist with maintaining sufficient insurance coverage throughout the life of the loan meeting current regulatory guidelines. Assist with customer and departmental questions relating to flood insurance guidelines

Assist with monitoring Private Mortgage Insurance (PMI) cancellations and consumer requests for cancellation. Prepare letters and new escrow analysis as required by regulation

Review various COCC Insight reports and be responsible as the second review approval sign-off

Responsible for monitoring Master insurance policies for all Condominium and Planned Unit Developments to ensure the current insurance policy is on file. Assist with contacting condo association/property manager for insurance when necessary

Monitor commercial insurance tracking and provide assistance to the Commercial Closing area in obtaining updated insurance which may include commercial insurance, key man-life insurance, insurance covering all business assets, and SBA loans. Responsible for contacting insurance agents and commercial loan officers and/or customers to obtain current insurance

Check all residential insurance policies scanned to Identifi for final review

Responsible for setup and/or monitoring for Hazard, Flood and Lender Placed activations, cancellations and terminations

Monitor and set up new tax escrow starts for loans/ mortgages as required

Respond to customer inquiries via the group phone extension and email box providing prompt and courteous service

Assist staff in resolution of sensitive customer issues and professionally problem-solve for customers who are dissatisfied

Responsible for reviewing collateral tracking for secured vehicle titles. Ensure regulatory requirements are met

Challenge, develop and maintain updates to written procedures

Qualification

Loan ServicingMicrosoft ExcelCustomer ServiceCommunication SkillsAttention to Detail

Required

High School diploma required and 1-2 years banking experience with basic accounting coursework and/or 1 year work experience in a loan related position

Basic understanding of Loan Servicing functions such as an understanding of the core loan system or have experience in other loan systems

Attention to detail, strong customers service skills, and strong communication skills

Solid understanding of Microsoft Excel and Word applications

Work independently and in a team environment; must be well organized and dependable

Maintain the utmost confidentiality on all bank matters