Loan Servicing Escrow Associate (Hybrid)

OceanFirst Bank
 Toms River, NJ

Our Escrow Department is seeking a new Associate to join their team!

At OceanFirst Bank, each one of our employees plays an important role in fulfilling the mission and taking responsibility to execute daily tasks in alignment with our core values. Together we foster an environment of respect, professionalism and diversity that makes OceanFirst a great place to work and do business.

Great benefits include: on-site fitness facility, hybrid schedule after initial onboarding has been completed (3 days in office, 2 days remote), employee perks & discount programs, tuition assistance, incentive compensation program, and more! Apply today to #BecomeOceanFirst and make an impact in the local community!

PRIMARY PURPOSE:

Performs loan servicing duties associated with real estate taxes and property/flood insurance as required. This includes, but is not limited to, the time payment of taxes for residential and commercial properties as well as the timely payment of escrowed insurance premiums.

ESSENTIAL DUTIES AND RESPONSIBILITIES:

  1. Responds to internal and external customer inquiries regarding tax and/or insurance issues as well as escrow analysis questions.
  2. Monitors delinquent tax, water, sewer bills and reacts to possible tax sale liens.
  3. Monitors, reconciles, and disburses real estate tax payments and/or insurance premiums.
  4. Sets up and maintains tax and insurance tracking information on the Core Banking System for loans.
  5. Converts accounts from escrow to non-escrow or non-escrow to escrow.
  6. Processes PMI insurance cancellation requests and reconciles monthly PMI payments.
  7. Processes spot escrow analysis as required.
  8. Orders “force placed” flood and/or homeowners insurance policies when necessary.
  9. Works with the third-party vendors for the gathering and payment of real estate taxes and insurance premiums.
  10. Assist with conversions, mergers, and other projects as requested.
  11. Understands compliance with all regulations governing the banking industry, as well as agency guidelines and organization policies.
  12. Understands the compliance requirements for Loan Servicing Operations to ensure files are maintained in accordance with regulations.

JOB SPECIFICATIONS:

Knowledge, Skills & Abilities

  • Familiar with standard concepts, practices, and procedures within the escrow industry field.
  • Escrow processing knowledge for tax and insurance.
  • Excellent verbal, written and interpersonal skills along with a superior aptitude for figures to perform proofs of large batch volumes.
  • Proficient in MS Office Suite.

Experience & Education

  • High school diploma or equivalent is required.
  • Minimum of one year of banking experience in a loan servicing capacity required.

Internal and External Contacts

  • Extensive phone contact with customers, tax municipalities, insurance agents in reconciling customer problems.
  • Coordinates closely with associates within the department, Loan Servicing, and related operating departments in connection with job responsibilities.

Equal Opportunity Employer

Minorities/Females/Veterans/Individuals with Disabilities/Sexual Orientation/Gender Identity

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