Escrow Clerk - MS
Company: Valley Bank
Posted on: January 12, 2022
The Escrow Clerk - MSI will disburse payments for real estate
taxes, homeowners, flood, PMI, optional insurance premiums and MIP
insurance premiums timely for escrowed accounts; maintain direct
contact with taxing authorities, insurance companies/agencies,
borrowers and our tax and insurance vendors to ensure quality
customer service; verify all non-escrowed accounts have the
appropriate insurance coverage and updated tax information.
Responsibilities include but are not limited to: Reconcile data and
disburse checks for all regular real estate, abatement and added
assessment taxes to either our tax payment service or direct to
municipalities prior to due dates. Reconcile all data and disburse
checks to the appropriate insurance payee prior to renewal.
Communicate daily with our third party insurance tracking company
to ensure proper coverages are in place at all times and in
accordance with Bank, government and investor guidelines. Review
weekly open item tax and insurance reports. Communicate directly
with our tax and insurance vendors to obtain the amount due on
accounts where disbursement listings have not been received. All
open items are paid manually to ensure prompt payment and avoid any
penalty for late payments. Research past due and/or delinquent
status reports from our tax and insurance vendors for escrowed and
non-escrowed accounts for any delinquent real estate, added
assessment and utility charges or homeowners or flood insurance
premiums. Monitor and process loss draft checks in accordance with
investor and bank guidelines. Issue periodic reports to department
management team. Communicate with borrowers and taxing authorities
or insurance companies/agents to resolve any and all tax or
insurance issues. Review escrow analysis statements with borrowers.
Assist Customer Service representatives as needed in times of heavy
telephone volume. Communicate with our tax service to ensure all
1st mortgage loans have a valid tax contract in place.
Keywords: Valley Bank, Wayne , Escrow Clerk - MS, Other , Wayne, New Jersey
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