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Job: Loan Servicing Representative/Escrow Specialist, Bay Bank, FSB, Columbia, MD
Loan Servicing Representative/Escrow Specialist
Columbia, MD 21046 United States
Only current U.S. residents will be considered
Bay Bank, FSB has an opening for an experienced Loan Servicing Representative/Escrow Specialist to join our team. Bay Bank, FSB is headquartered in Columbia, Maryland, and serves the community with a network of 11 branches strategically located throughout the region. Founded in 2010, the bank has quickly developed a strong reputation for its focus on being the bank built by entrepreneurs, for entrepreneurs.
The Loan Servicing Representative/Escrow Specialist is responsible for maintaining escrow accounts and for boarding and servicing loans in accordance with the executed documents and credit approval documentation. The Loan Servicing Representative/Escrow Specialist will be responsible for posting both monetary and non-monetary transactions on assigned loans and for reviewing and verifying all required documentation.
• The Loan Servicing Representative/Escrow Specialist will be responsible for a variety of consumer loan servicing functions, including new loan input, cash processing, regulatory compliance and document management; will maintain all escrow accounts, processing timely payments for all escrow items; will ensure that escrowed loans are set up and analyzed in accordance with compliance requirements and applicable law.
• The Loan Servicing Representative/Escrow Specialist will process tax contracts on loans secured by real estate and reconcile tax service general ledger accounts.
• Other duties of the Loan Servicing Representative/Escrow Specialist will include monitoring and following up on expired hazard insurance; reviewing documentation prior to loan closings to verify accuracy; reviewing and verifying adverse action notices; preparing lien releases, loan verification and payoff statements; and verifying all new loan data in the FIS IBS Insight System.
The ideal candidate:
• should have at least two years of related experience handling escrow accounts, with an understanding of bank transactions and services;
• must be able to read and understand loan documentation and have knowledge of lending processes, procedures, loan documentation and loan systems and must understand and be able to explain escrow analysis and annual disclosures;
• must be proficient with Microsoft Excel and Word, have excellent math skills, excellent verbal and written communication skills and good listening skills;
• must know how to interpret a credit report and have an understanding of the requirements of the Fair Credit Reporting Act;
• must have a proven history of providing outstanding customer service;
• must have good organizational skills, be very analytical and detail oriented with the ability to manage multiple priorities.
The Bank is an equal opportunity employer and makes all employment decisions without regard to race, color, religious creed, national origin, sex, ancestry, age, marital status, status as a Vietnam-era veteran, physical or mental disability or any other basis prohibited by federal, state or local law.
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