Responsible for establishing new escrow accounts and processing escrow documents in accordance with established policies and
procedures. Acts as a neutral third-party between buyers and sellers during a real estate sale, managing funds and processing real estate transactions. Provide support to Commercial Underwriting/Closing department by assisting with customer service and administrative duties related to escrow closings.
- Determines escrow requirements by studying and clarifying buyer, seller, and lender instructions.
- Interprets earnest money, escrow and purchase agreements as they relate to closing and prepare all documents required for transactions (ex. W-9, 1099, wire instructions)
- Establishes escrow account by depositing funds; maintaining records.
- Prepares transaction documents by completing forms and statements; collecting and reviewing existing documents.
- Completes calculations by prorating taxes and interest.
- Completes closing transaction documents by assembling documents; explaining provisions and procedures; answering questions; checking documents for completeness and accuracy; obtaining signatures.
- Completes closing by recording and filing documents; preparing and distributing final closing statements and title.
- Closes escrow account by balancing and disbursing funds.
- Complies with regulatory requirements by adhering, and enforcing adherence, to requirements.
- Updates job knowledge by participating in educational opportunities; reading professional publications; maintaining personal networks; participating in professional organizations.
- Enhances organization reputation by accepting ownership for accomplishing new and different requests; exploring opportunities to add value to job accomplishments.
Knowledge and Skills/Technology Used
- Knowledge of standard concepts, practices, and procedures within the escrow/title industry field
- Knowledge of Microsoft Office applications
- Good client relations and organizational skills
- Ability to write routine reports and correspondence
- Ability to speak effectively before groups of customers or employees of organization
- Ability to calculate figures and amounts such as discounts, interest, commissions, proportions, and percentages
- Detail-oriented and professional; able to handle confidential information
- College Degree Preferred
Typical Range of Experience
- 2-4 years related experience with 2+ years’ experience directly handling escrow transactions
2+ to 5 years
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