Mortgage Servicing Specialist

Decorah Bank & Trust Leadership & Service to Others
* Growth Mindset
* Teamwork
* Have Fun!
Come join a team that makes a difference! We are currently seeking a full-time Mortgage Escrow Servicing Processor to join our team. Decorah Bank & Trust is family and employee owned. Our mission to help people achieve their financial dreams.
We have an excellent benefit package including health insurance with employer HSA contribution, dental insurance, life insurance, short and long term disability, 401k and Employee Stock Ownership Plan, PTO, Paid Holidays, and much more! This role is also responsible for assisting the bank, to the best of the employee's abilities, in complying with applicable state and federal banking rules and regulations as they pertain to this position including, but not limited to, the Bank Secrecy Act.

Must embrace and uphold the bank's Code of Conduct, Core Values, and Service Standards. Summary: The Mortgage Escrow Servicing Specialist is responsible for managing escrow accounts tied to residential mortgage loans. This role ensures accurate collection, disbursement, and analysis of escrow funds for property taxes, insurance, and related obligations. The specialist works to maintain compliance with regulatory requirements while providing excellent customer service to borrowers, vendors, and internal stakeholders.
Essential Duties and Responsibilities:

Escrow Account Management

• Establish and maintain escrow accounts for mortgage loans
• Monitor escrow balances to ensure sufficient funds for upcoming disbursements
• Perform monthly escrow analysis to adjust payment amounts
• Identify shortages, surpluses, and deficiencies and communicate changes to borrowers

Payment Processing & Disbursement's

• Process timely payments for property taxes, homeowner's insurance, and other escrowed items
• Research and resolve discrepancies related to tax or insurance bills
• Ensure compliance with payment deadlines to avoid penalties
• Process timely payments for all department accounts payable items

Customer Service

• Respond to borrower inquiries regarding escrow accounts, payments, and statements
• Explain escrow analyses, payment changes, and account activity clearly and professionally
• Work with insurance agents, tax authorities, and vendors to resolve issues
• Handle customer requests - for example, payments, payoffs, advances, loan information, changes to payment schedules
• Answer incoming department phone calls

Loan Funding & Boarding

• Coordinate loan funding by disbursing proceeds according to closing instructions
• Board newly originated loans onto the system accurately and in a timely manner
• Set up loan terms, payment schedules, escrow accounts, and borrower information
• Validate data integrity between origination and servicing systems
• Resolve post-boarding exceptions and discrepancies

Insurance Tracking & Exception Management

• Monitor insurance coverage (hazard, flood, and other required policies) for active loans
• Track insurance expirations, renewals, and coverage adequacy
• Identify and manage insurance exceptions such as lapsed, insufficient, or missing coverage
• Generate and send borrower notifications for insurance deficiencies
• Coordinate with borrowers, agents, and vendors to obtain or update policies
• Initiate force-placed insurance when required, in accordance with regulatory guidelines
• Maintain accurate insurance records within servicing systems

Compliance & Risk Management

• Ensure adherence to federal and state regulations (e.g., RESPA requirements) as well as Freddie Mac or other investor requirements
• Maintain accurate records and audit trails for escrow transactions
• Support internal and external audits by providing required documentation

Miscellaneous:

Assist and support other bank functions outside the normal scope of duties as needed to contribute to the overall success of the organization.

Supervisory Responsibilities:

This role currently has no supervisory responsibilities.

Reasonable Accommodations Statement:

To accomplish this job successfully, an individual must be able to perform, with or without reasonable accommodation, each essential function satisfactorily. Reasonable accommodations may be made to help enable qualified individuals with disabilities to perform the essential functions.

Requirements

This role is an in-office role, housed in our downtown Decorah location.

Education/Experience/Abilities: High school diploma or equivalent required;
Associate's or Bachelor's degree in a related field preferred. One to three years of experience in mortgage servicing, escrow, or banking operations preferred, with escrow analysis and disbursement processing a plus, or an equivalent combination of education and experience. Candidates should demonstrate strong attention to detail, analytical and problem-solving skills, effective communication and customer service abilities, proficiency in Microsoft Office (Excel and Word), and the ability to manage multiple priorities in a fast-paced environment.

Language Skills:

• Ability to read, analyze, and interpret common…