BankUnited · 1 month ago
Escrow Specialist I
Miami Lakes, FL, 33016, United States
Full-time
Onsite
New Grad, Entry LevelBankUnited is a financial institution that is seeking an Escrow Specialist I. The role involves processing a variety of functions related to the monitoring/payment of insurance and property taxes and escrow analysis of various loans.
BankingFinanceFinancial Services
Responsibilities
Responsible for ensuring that the Bank's internal and external customers receive an adequate level of service and assistance with their questions and or concerns. The nature of their service needs can vary considerably
Monitor the CCLRS queue for incoming assigned requests and complete them within the required SLA
Monitor the department insurance email box for incoming requests and/or insurance policies and complete them within the required SLA
Review various reports and queues (internal and vendor) as assigned and complete the required process of researching and clearing exceptions, requesting updated insurance coverage, analyzing insurance received to ensure completeness, and update tracking item information per department guidelines
Review the Escrow Disbursements Due report to identify upcoming insurances that need to be paid. Ensure receipt of the invoice. Disburse premium amount from the escrow account on the loan. Complete the appropriate report and remit funds to the vendor for payment of the premiums or provide guidance to the vendor to update the insurance lines. When applicable, request an official check and send to the insurance agent
Complete the required process for the various vendor reports received including but not limited to the Insurance Status report, Wind Analysis report, Batch Import Summary report
Ensure lender placed insurance premiums are paid to the vendor and create/update the escrow record on the loan. Analyze the loan or adjust monthly payments to collect lender placed premiums. Send notification to the borrowers and create tracking items as appropriate
Ensure lender placement refunds received are accurately credited to the escrow account on the loan and the appropriate maintenance is performed on the escrow vendor records
Responsible for vendor management
Review tax service provider reports and compare data to ensure accuracy. Make corrections/updates as required to the servicing system or the tax contract
Review TAR reports received from the tax service providers. Disburse property tax amount from the escrow account on the loan. Complete the appropriate report and remit funds to the vendor for payment. When applicable, request an official check and send to the appropriate county
Review delinquent tax reports received from the tax service providers. Send the appropriate notification to the loan officer and borrower, and set up a tracking item to monitor delinquent status. Follow the department guidelines to complete the process
Perform individual escrow analysis as required
Analyze the preliminary escrow analysis reports to identify discrepancies and ensure accuracy prior to running a final analysis
Review the mass escrow analysis to ensure accuracy and rectify any errors or discrepancies. Send to Arrow Mail for mailing
Issue escrow refunds according to the department guidelines
Perform daily workstation balancing and process the required offsetting entries via BTE or general ledger tickets
Monitor Note Clearing and Wire Clearing general ledger account reconciliation and clear items timely
Review insurance claim checks received. Work with borrower/agent/loan officer to ensure proper documentation is received and proper credit officer approval is obtained prior to endorsing the check
Works with the QA department to research and rectify any findings
Perform maintenance as needed to ensure accurate set up of the escrow vendors and/or collateral records
Monitor flood remap reports, update the flood zone on the applicable collateral record, complete the Remap Checklist and ensure regulatory compliance
Work closely with loan officers and loan administrators to ensure accurate tracking of insurance and taxes
Trains, oversees and assists level I and II Escrow Specialists when needed. Be able to work independently with minimal required assistance from supervisor
Adheres to and complies with applicable, federal and state laws, regulations and guidance, including those related to anti-money laundering (i.e. Bank Secrecy Act, US PATRIOT Act, etc.)
Adheres to Bank policies and procedures and completes required training
Identifies and reports suspicious activity
Qualification
Required
Associate's Degree required
Preferred
Bachelor's Degree or equivalent related experience strongly preferred
Prior experience in a loan processing/servicing area or related environment, dealing with a variety of commercial insurance coverage types and products strongly preferred
Candidates residing in locations within BankUnited's footprint may be given preference
Company
BankUnited
BankUnited, Inc. (BKU) is a bank holding company with three wholly owned subsidiaries:
Founded in 2009
1001-5000 employees
Funding
Current Stage
Public CompanyTotal Funding
unknown2011-02-02IPO
Leadership Team
Rajinder Singh
Chief Executive Officer
Mario Facella
Senior Vice President
Recent News
2026-01-16
2025-12-13
2025-12-09
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