Escrow Specialist

4 days ago

Bengaluru, Karnataka, India ThoughtFocus Full time ₹ 8,00,000 - ₹ 12,00,000 per year

Position Title
: Loan Servicing / Escrow Specialist

Shift:
US Shift (6:30 PM – 3:30 AM)

Employment Type
: Full-time & Work from Office

Office Location:

ThoughtFocus Technologies Pvt Ltd

  • Bengaluru Office – Par Dhanani Wilshire III Tech Park, 492, RHB Colony, Mahadevapura, Bengaluru, Karnataka
  • Mysuru Office – 2940/D8, Gr Floor, Shwetha Complex, 8, Temple Rd, VV Puram, Vani Vilas Mohalla, Mysuru, Karnataka

Overview

The
Escrow Analysis & Servicing Specialist
is responsible for managing and analysing escrow accounts related to property taxes, homeowners' insurance, and other related payments in compliance with regulatory requirements. This role ensures accurate calculations, timely disbursements, and effective communication with borrowers, lenders, and internal teams.

Key Responsibilities
:

Escrow Analysis:

  • Conduct
    annual and interim escrow analysis
    to determine correct escrow payments and adjustments.
  • Review and validate
    escrow account balances, shortages, and overages
    to ensure compliance with RESPA (Real Estate Settlement Procedures Act) and investor guidelines.
  • Generate and distribute
    Escrow Analysis Statements
    to borrowers, explaining changes in escrow payments.
  • Identify and resolve
    escrow shortages, surpluses, and miscalculations
    promptly.

Escrow Servicing & Account Management:

  • Process
    property tax and homeowners' insurance payments
    from escrow accounts in a timely manner.
  • Monitor
    escrow disbursements
    to prevent delinquencies and ensure payments are made accurately.
  • Coordinate with
    tax authorities, insurance providers, and mortgage servicers
    to resolve discrepancies and ensure compliance.
  • Address
    borrower inquiries
    related to escrow payments, analysis, and adjustments.
  • Handle
    escrow account setups, modifications, and terminations
    as needed.

Regulatory Compliance & Reporting:

  • Ensure all
    escrow activities comply with federal, state, and investor guidelines
    (e.g., RESPA, CFPB regulations).
  • Maintain accurate
    escrow account records
    and prepare reports for audits and internal reviews.
  • Assist in
    reconciliation of escrow accounts
    and identify potential discrepancies.

Required Skills & Qualifications
:

  • Bachelor's degree in finance, Accounting, Business, or a related field
    (or equivalent experience).
  • 1-3 years of experience
    in mortgage servicing, escrow analysis, or a related financial role.
  • Strong knowledge of
    escrow regulations, mortgage servicing practices, and RESPA guidelines
    .
  • Proficiency in
    mortgage servicing software (e.g., MSP, Black Knight, FICS, or similar systems)
    .
  • Excellent
    analytical, problem-solving, and mathematical skills
    .
  • Strong attention to detail and the ability to handle large data sets.
  • Effective communication skills
    to interact with borrowers, lenders, and third-party vendors.
  • Ability to
    work independently and in a team-oriented environment
    .

Preferred Qualifications
:

  • Experience with
    property tax and insurance
    processing within escrow accounts.
  • Knowledge of
    investor guidelines (FHA, VA, Fannie Mae, Freddie Mac)
    .
  • Background in
    loan servicing, default management, or foreclosure
    is a plus.

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