ESCROW ASSOCIATE

SUMMARY

ESSENTIAL DUTIES AND RESPONSIBILITIES

• Types letters, forms, checks, and other documents used for collecting, disbursing, and recording in relation to the closing of the transaction
• Executes terms of contract or trust agreement, such as holding money or legal papers, paying off mortgagees, or paying sums to designated parties
• Answers customers’ inquiries regarding mortgage account and corrects records if needed
• Files and delivers deeds and other legal documents
• Records disbursement of funds to pay insurance and taxes
• Types notices to government, specifying changes to loan documents, such as discharge of mortgage
• Calls or writes loan application to obtain information for bank official
• Orders services, such as property insurance, termite policies, and surveys, from third party providers as dictated by the real estate contract and/or separate closing instructions
• Enters final data in computer to generate appropriate closing documents
• Examines documents such as deeds, assignments and mortgages, to ensure compliance with escrow instructions, institution’s policy and legal requirements
• Reviews printouts of allocation for interest, principal, insurance, or tax payments to locate and correct any errors
• Performs all other duties as assigned
• SUPERVISORY RESPONSIBILITIES
• No supervisory responsibilities

QUALIFICATIONS

• To perform this job successfully, an individual must be able to perform each essential duty satisfactorily. Additionally, the qualifications listed below are representative of the knowledge, skills, and/or abilities required in this position:
• High school diploma or GED and 0-2 years of experience or equivalent combination of education and experience
• COMPUTER AND OFFICE EQUIPMENT SKILLS
• Microsoft Office suite