City National Bank
Loan Escrow & Insurance Services Specialist
City National Bank, Miami, Florida, us, 33222
Loan Escrow & Insurance Services Specialist
Job ID
2024-5079
Category
Loan Services
Type
Full-Time
Workplace policy
Hybrid
Overview
The Loan Escrow and Insurance Services Specialist, coordinates a variety of functions within the Escrow and Insurance Servicing Unit related to the business operations of the Bank including but are not limited to loan servicing functions, confirmation of loan collateral, required insurance covering collateral and other perils, creation of insurance and tax records, ordering real estate tax service contract, transmittal of required insurance for tracking by outsource service provider, processing payment of taxes and insurance, maintenance of escrow records and notepads on loan system, analysis of client escrow accounts, confirmation of annual statement generation and mailing to clients, resolution of loan issues. Monitors Serviced by Others portfolio and maintains current records on Servicer. Provides client service, research and timely resolution of client inquiries/complaints. Fully knowledgeable and capable of filling in on day- to- day assignments if necessary. Cross-trains other employees in these functions. Ensures compliance with all policies and procedures as well as regulatory requirements surrounding escrow and insurance (included but not limited to Flood, Hazard, Windstorm).Principal Duties & Responsibilities:Performs QC for all "triggering events" (New, Renewals, Modifications, Extensions, Increases) covering all aspects of the Flood regulation. Ensuring all collateral, escrow and insurance records are being properly tracked in all applicable systems.Confirms and performs (if needed) required maintenance on insurance, tax and other collateral records created on Loan System at loan booking.
Reviews and verifies adequacy of insurance coverage (included but not limited to Flood, Hazard, Windstorm) and compliance with established policy and regulatory requirements at loan origination/renewal/modification/increase/extension and during life of loan .
Processes, forwards and monitors insurance outsourced Servicer for tracking and lender placement; reviews service provider's reports, performs inquiry/research on servicer's Tickler System and issues request for updated insurance to Insurance Agents, et al.
Maintains ongoing insurance and tax records on all collateral.
Reviews and disseminates Insurance Exception Reports generated by outsource Service Provider.
Monitors force placement of insurance, reviews weekly policy register, confirms billing and payment of force placed premiums; issues instructions for posting lender placed premiums on loan accounts and verifies proper posting. Ensures compliance with policy and regulatory requirements.
Originates escrow disbursement for payment of insurance premiums and taxes. Ensures all applicable escrow disbursements are processed timely and accurately.
Reviews daily Loan System reports on forthcoming disbursements, escrow matters and exceptions; takes appropriate action required; and disseminates information to Management.
Monitors and generates escrow analysis and annual statements. Validate/reconciles that all applicable escrow analysis/statements were generated. Validates accuracy of escrow analysis statement on a scope basis. Ensures compliance with policy, procedures and regulatory requirements surrounding escrow.
Performs research and resolves loan issues.
Monitors Insurance and taxes for loans that are being Serviced by Others (Participations Purchased, SBO, etc.)
Provides client service; performs research for timely resolve of client inquiries/ complaints.
Functions efficiently and effectively under deadlines and stress while maintaining a professional and mature demeanor.
Performs other duties as assigned.
May participate in projects and audits as needed.
Qualifications
2-4 years of experience in Loan Escrow and Insurance Servicing (Administration, Operations, Accounting, Escrows [insurance and taxes]2-4 years of experience in in Escrow and Flood insurance regulatory requirements.Extensive knowledge of loan documentation, mortgage loans, escrows, insurance requirements and terminology.
Must have experience in processing insurance (including but not limited to hazard, windstorm/hail, flood, private mortgage insurance, builders risk, liability, excess liability, worker's comp, business income, rental loss, equipment, autos, boats, etc.)
Strong knowledge in Escrow regulatory requirements.
Strong knowledge in Flood Insurance regulatory requirements.
Proficiency in relevant software applications.
Proficient in Microsoft Office (Word, Excel, Access, Outlook, Internet) and use of office machines (calculator, facsimile).
Dynamic, self-motivated, with excellent verbal and written communications skills, ability to interact with all levels of the organization, and lead.
Strong client service, organizational and time-management skills.
Detailed oriented, with ability to balance multiple time-sensitive tasks at various levels of completion.
Accuracy and great follow-up skills mandatory. Able to work in a team environment.
Education
High School Diploma or GED equivalent required.Special Instructions to Candidates
Equal Opportunity Employer/Protected Veterans/Individuals with Disabilities.Please view Equal Employment Opportunity Posters provided by OFCCP here.The contractor will not discharge or in any other manner discriminate against employees or applicants because they have inquired about, discussed, or disclosed their own pay or the pay of another employee or applicant. However, employees who have access to the compensation information of other employees or applicants as a part of their essential job functions cannot disclose the pay of other employees or applicants to individuals who do not otherwise have access to compensation information, unless the disclosure is (a) in response to a formal complaint or charge, (b) in furtherance of an investigation, proceeding, hearing, or action, including an investigation conducted by the employer, or (c) consistent with the contractor's legal duty to furnish information. 41 CFR 60-1.35(c)Reasonable accommodation may be made to assist individuals with disabilities to complete the online application process. Please contact our Human Resources Department at 305-577-7680 or by e-mail at employment@citynational.com.
Job ID
2024-5079
Category
Loan Services
Type
Full-Time
Workplace policy
Hybrid
Overview
The Loan Escrow and Insurance Services Specialist, coordinates a variety of functions within the Escrow and Insurance Servicing Unit related to the business operations of the Bank including but are not limited to loan servicing functions, confirmation of loan collateral, required insurance covering collateral and other perils, creation of insurance and tax records, ordering real estate tax service contract, transmittal of required insurance for tracking by outsource service provider, processing payment of taxes and insurance, maintenance of escrow records and notepads on loan system, analysis of client escrow accounts, confirmation of annual statement generation and mailing to clients, resolution of loan issues. Monitors Serviced by Others portfolio and maintains current records on Servicer. Provides client service, research and timely resolution of client inquiries/complaints. Fully knowledgeable and capable of filling in on day- to- day assignments if necessary. Cross-trains other employees in these functions. Ensures compliance with all policies and procedures as well as regulatory requirements surrounding escrow and insurance (included but not limited to Flood, Hazard, Windstorm).Principal Duties & Responsibilities:Performs QC for all "triggering events" (New, Renewals, Modifications, Extensions, Increases) covering all aspects of the Flood regulation. Ensuring all collateral, escrow and insurance records are being properly tracked in all applicable systems.Confirms and performs (if needed) required maintenance on insurance, tax and other collateral records created on Loan System at loan booking.
Reviews and verifies adequacy of insurance coverage (included but not limited to Flood, Hazard, Windstorm) and compliance with established policy and regulatory requirements at loan origination/renewal/modification/increase/extension and during life of loan .
Processes, forwards and monitors insurance outsourced Servicer for tracking and lender placement; reviews service provider's reports, performs inquiry/research on servicer's Tickler System and issues request for updated insurance to Insurance Agents, et al.
Maintains ongoing insurance and tax records on all collateral.
Reviews and disseminates Insurance Exception Reports generated by outsource Service Provider.
Monitors force placement of insurance, reviews weekly policy register, confirms billing and payment of force placed premiums; issues instructions for posting lender placed premiums on loan accounts and verifies proper posting. Ensures compliance with policy and regulatory requirements.
Originates escrow disbursement for payment of insurance premiums and taxes. Ensures all applicable escrow disbursements are processed timely and accurately.
Reviews daily Loan System reports on forthcoming disbursements, escrow matters and exceptions; takes appropriate action required; and disseminates information to Management.
Monitors and generates escrow analysis and annual statements. Validate/reconciles that all applicable escrow analysis/statements were generated. Validates accuracy of escrow analysis statement on a scope basis. Ensures compliance with policy, procedures and regulatory requirements surrounding escrow.
Performs research and resolves loan issues.
Monitors Insurance and taxes for loans that are being Serviced by Others (Participations Purchased, SBO, etc.)
Provides client service; performs research for timely resolve of client inquiries/ complaints.
Functions efficiently and effectively under deadlines and stress while maintaining a professional and mature demeanor.
Performs other duties as assigned.
May participate in projects and audits as needed.
Qualifications
2-4 years of experience in Loan Escrow and Insurance Servicing (Administration, Operations, Accounting, Escrows [insurance and taxes]2-4 years of experience in in Escrow and Flood insurance regulatory requirements.Extensive knowledge of loan documentation, mortgage loans, escrows, insurance requirements and terminology.
Must have experience in processing insurance (including but not limited to hazard, windstorm/hail, flood, private mortgage insurance, builders risk, liability, excess liability, worker's comp, business income, rental loss, equipment, autos, boats, etc.)
Strong knowledge in Escrow regulatory requirements.
Strong knowledge in Flood Insurance regulatory requirements.
Proficiency in relevant software applications.
Proficient in Microsoft Office (Word, Excel, Access, Outlook, Internet) and use of office machines (calculator, facsimile).
Dynamic, self-motivated, with excellent verbal and written communications skills, ability to interact with all levels of the organization, and lead.
Strong client service, organizational and time-management skills.
Detailed oriented, with ability to balance multiple time-sensitive tasks at various levels of completion.
Accuracy and great follow-up skills mandatory. Able to work in a team environment.
Education
High School Diploma or GED equivalent required.Special Instructions to Candidates
Equal Opportunity Employer/Protected Veterans/Individuals with Disabilities.Please view Equal Employment Opportunity Posters provided by OFCCP here.The contractor will not discharge or in any other manner discriminate against employees or applicants because they have inquired about, discussed, or disclosed their own pay or the pay of another employee or applicant. However, employees who have access to the compensation information of other employees or applicants as a part of their essential job functions cannot disclose the pay of other employees or applicants to individuals who do not otherwise have access to compensation information, unless the disclosure is (a) in response to a formal complaint or charge, (b) in furtherance of an investigation, proceeding, hearing, or action, including an investigation conducted by the employer, or (c) consistent with the contractor's legal duty to furnish information. 41 CFR 60-1.35(c)Reasonable accommodation may be made to assist individuals with disabilities to complete the online application process. Please contact our Human Resources Department at 305-577-7680 or by e-mail at employment@citynational.com.