Senior Residential Loan Servicing Specialist - Escrow

POSITION: SENIOR RESIDENTIAL LOAN SERVICING SPECIALIST - ESCROW
Summary:
At Cambridge Savings Bank, our purpose is to have a positive impact on our customers, employees, and community's financial well-being. We are committed to exceeding expectations and having a strong commitment to diversity and inclusion. The Sr Residential Loan Servicing Specialist is responsible for the management of the real estate tax payment cycles, PMI premium payments and waiver requests, management of the annual escrow analysis, delinquent real estate tax reports, loan funding, payment & lock box exception processing, payoffs, insurance monitoring and loan general servicing support.Ensures compliance with regulatory guidelines, and internal policies and procedures.Assist with preparation, data collection, responses and remedies to internal and external audits and federal and state compliance exams. Additional responsibilities include monthly HMDA reporting, insurance claim management, and subordinations.
Key Result Areas:

• Ensures the accurate and timely remittance of all real estate tax payments due to each taxing authority in accordance with taxing jurisdiction guidelines. Manages Annual Escrow Analysis ensuring accurate and timely tax payments have been recorded correctly in the core.Review and resolve analysis exceptions and ensure surplus checks are distributed timely.Address borrower questions and concerns with these statements.
• Monitors all hazard, flood, and PMI insurance for loans, ensuring compliance with regulatory requirements as well as payment of premiums. Manages the PMI waiver process, both automatic and borrower requested waivers, within compliance with regulatory guidelines. Identifies and resolves insurance exceptions with our insurance tracking vendor.Monthly monitoring of Insurance Policies to ensure they are properly reflected in our insurance tracking vendor to ensure unnecessary letters to borrowers are not produced.Facilitates quarterly meetings with insurance vendor.
• Performs the accurate and timely processing of loan findings and FASB transactions for new and modified mortgage and home equity loans.Ensures all loan payments are processed in accordance with prompt payment standards including the processing of payoffs. Monitors and decisions lockbox payment exceptions.
• Monthly, quarterly, and annual HMDA review and reporting.Work with compliance on error resolution.Assist in the preparation of the annual required reporting of the LAR.
• Manages insurance claims for our borrowers ensuring that the collateral has been restored to its original value.Provides borrowers with expectations for the process and is , works with the branch in opening deposit account, reviews adjuster and contractor quotes, releases monies in accordance to policy and facilitates final inspections.
• Balance general ledger accounts in accordance with CSB policy, respond to FDICIA and Other Regulatory Audit requests, provide superior customer service to our customers, assist with problem resolution within scope and process subordinations at the direction of loan underwriting.
• Perform additional duties as required.

Qualifications:

• Bachelor's degree preferred, or 4 years of Loan servicing experience.
• 2+ years banking experience in escrow processing and Loan Servicing.
• Strong communication skills, both written and oral, and interpersonal skills.
• Ability to interact with internal and external customers effectively and resolve complex problems in a timely manner, escalating to manager when necessary.
• Ability to meet deadlines along with excellent time management skills.

The above description covers the most significant major responsibilities but does not exclude other occasional responsibilities and accountabilities the inclusion of which would be in conformity with the major purpose of this job.
Location:
Hybrid/Waltham, Massachusetts
About Cambridge Savings Bank:
Cambridge Savings Bank is a full-service banking institution with over $6 billion in assets. As a mutual bank, CSB is committed to improving the quality of life of our employees, customers, and the communities we serve. One of the oldest and largest community banks in Massachusetts, Cambridge Savings Bank offers a full line of individual and business banking services across a robust Massachusetts-based branch network and through digital banking solutions for commercial, small business and consumer customers. In March 2023, Kroll Bond Rating Agency affirmed CSB's investment-grade rating, reinforcing the bank's position as a reliable business lender. To learn more about how CSB can meet your needs, visit us at cambridgesavings.com, or better yet, come meet us to help you make the most out of your banking relationship. Member FDIC. Equal Housing Lender. NMLS # 543370.
Cambridge Savings Bank is an equal opportunity employer, and all qualified applicants will receive consideration for employment without regard to race, color, religion, sex, national origin, disability status, protected veteran status, or any other characteristic protected by law. We are a VEVRAA Federal Contractor.
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