Escrow Officer

Escrow Officer

Job Purpose:

An Escrow Officer is responsible for providing superior escrow services while maximizing profitability. This is achieved by utilizing technology, communication and collaboration skills in an effort to co-exist with clients, consumers and WFG personnel in a manner compliant with WFG Policies and Procedures, state and other laws.

Essential Job Functions:

• Develop a profitable escrow desk.
• Prepares or secures deeds or other documents related to Escrow.
• Disburses funds as authorized by the Escrow instructions, including charges for title insurance, recording fees, real estate commissions, and loan payoffs.
• Prepares final statements for the involved parties.
• Secures releases of all contingencies or other conditions as imposed on any particular Escrow.
• Engage in WFG company culture that emphasizes employee engagement, our 4 Cs, quality of work and high performance.
• Serve as a central point of communication between involved parties.
• Engage in ongoing personal improvement, self-marketing, and tracking of industry trends.
• Cooperate in monthly review of Trial Balance/Un-cashed checks reports and ensure items are cleared regularly.
• Knowledge of WFG products, services and company policies and procedures.
• Maintain transparent communication with Escrow Manager.
• Interact with clients, real estate agents/brokers, attorneys, consumers, lenders and any other parties involved in transactions.
• Complete real estate escrow transactions by determining requirements; clearing title; assembling, preparing and reviewing closing documents; disbursing funds.
• Determine escrow requirements by studying and clarifying buyer, seller, and lender instructions.
• Obtain clear title by ordering title reports; resolving title defects; satisfying existing liens and encumbrances against property or principals.
• Preparing transaction documents by completing forms and statements; collecting and reviewing existing documents.
• Completing calculations by prorating taxes and interest- purchase transactions only.
• Completing closing transaction documents by assembling documents; reviewing papers with parties; explaining provisions and procedures; answering questions; checking documents for completeness and accuracy; obtaining signatures.
• Complete closing by recording and filing documents; preparing and distributing final closing statements and title; prepare HUD by utilizing lender instructions.
• Close escrow accounts by balancing and dispersing funds.
• Comply with regulatory requirements by adhering, and enforcing adherence to requirements.
• Enhancing organization reputation by accepting ownership for accomplishing new and different requests; exploring opportunities to add value to job accomplishments.
• Escalate complaints appropriately and maintain records per policies and procedures.
• Train, mentor and cultivate co-workers to improve the overall work experience at WFG.
• Maintain a positive attitude.
• Comply with applicable State licensing requirements and WFG Scholar trainings.

Knowledge, Skills and Abilities:

• Thorough understanding of escrow law, local city and state requirements.
• Thorough understanding of RESPA, TILA, Dodd-Frank and CFPB rules.
• Thorough understanding and adoption of ALTA Best Practices.
• Ability to work with mathematical concepts (fractions, percentages, ratio's and proration's).
• Strong customer service skills; demonstrate excellent comprehension and organizational skills.
• Ability to manage multiple actions as once; flexibility to reprioritize quickly.
• Possess leadership qualities; understand the importance of setting a good example of uncompromising dedication to accomplish the company's vision and goals.
• Desire to engage in personal growth development.
• Strong ability to present information and respond to questions from personnel, clients and consumers.
• Act as an innovator by generating ideas to encourage collaboration, critical thinking and engagement, as well as solving practical problems.

Basic Qualifications:

• High school diploma or general education degree (GED).
• Ability to read, write and interpret in English.
• Familiarity with Microsoft Office Suite and escrow production software e.g. Res Ware, Ram Quest, AtClose, IClosings and/or…