Sr. Servicing Specialist; Escrow Loan Servicing

Sr. Servicing Specialist (Escrow Loan Servicing)

Job Category
:
Loan Operations - Servicing

Requisition Number
: SRSER
003637

Location:

Main Office
210 Essex St
Salem, MA 01970, USA

Salem Five is a growing regional financial services organization with a rich history of over 170 years. As an independent bank, we are deeply rooted in the communities we serve and offer our employees successful and rewarding careers.

This position requires the ability to work in the Salem, MA offices.

• Provide customer service support for the Loan Operations Department, Closing Department, and closing agents by answering incoming telephone calls, servicing walk‑in customers, and responding to letters received.
• Ensure real estate tax payments are made to municipal authorities in accordance with due dates.
• Order escrow files from Core Logic, match reports from Fiserv DNA, verify property and parcel information, run updates to disbursement status, and prepare accounts for disbursement.
• Initiate and balance tax disbursement runs to ensure accuracy before customer accounts are affected and “mail” payments. Verify system‑generated checks before mailing.
• Contact Real Estate Tax authorities for required payment information such as due dates, bill amounts, and title amounts.
• Research customer problems with municipalities concerning real estate tax applications.
• Use SMARTweb from Core Logic to verify, input, or update information in the system.
• Receive and review delinquent tax reports from Core Logic and mail notices to customers. Follow up to ensure delinquent taxes are paid.
• Work with the Default Management Department to review tax arrearage payments resulting from bankruptcy and foreclosure.
• Work with the Modification team to verify tax information and escrow plans for affected accounts.
• Research and resolve exception items and problems with Core Logic, including incorrect property descriptions, maps, parcels, contract numbers, or other identifying information.
• Assist in coordinating annual aggregate escrow analysis for real estate tax customers as required by RESPA. Review system‑generated refund checks prior to mailing and respond to detailed customer inquiries about the analysis.
• Act as liaison with the insurance tracking vendor, reconcile and process hazard and flood insurance bills, follow up with customers for bills, resolve discrepancies, disburse escrow funds, and document payments in the loan file.
• Order escrow reports for PMI premium payments, review them against PMI premium bills, identify and resolve any issues, balance payments, and remit payment to the appropriate PMI company.
• Perform system maintenance for setting up new escrow accounts for Hazard, Flood and Tax.
• Review and follow up on action reports from the insurance tracking vendor for hazard and flood insurance.
• Participate in annual mailings for escrow analysis, escrow overage checks and PMI notices.
• Perform quality control on all new residential, consumer, and commercial loan accounts boarded with escrow to ensure data integrity.
• Assist with processing mail related to hazard and flood insurance, including cancellations, reinstatements, policies and bills.
• Audit all loans with flood insurance to verify regulatory compliance; notify staff of errors and return files for correction; maintain records and follow up on resolution.
• Perform research and resolution for assigned help desk tickets.

• Associate’s degree or equivalent experience.
• Strong verbal and written communication skills.
• Strong financial, mathematical, and analytical ability.
• Self‑motivated, independent, and decisive.
• Knowledge of Microsoft Office, including Excel and Word.
• Comfortable learning and operating multiple computer applications.

• Effective written and oral communication with federal and state agencies and customers.
• Strong interpersonal skills and collaboration with customers and co‑workers; maintains confidentiality and remains open to new ideas.
• Strict adherence to federal and state regulations affecting departmental functions.
• Attention to detail.
• Efficient workflow management in a fast-paced, multi‑task environment.
• Organization and flexibility.
• High productivity with minimal…