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Vice President of Escrow

Company: Ascendo Resources
Location: Buffalo Grove
Posted on: May 2, 2022

Job Description:

The VP, Escrow will be part of the management team that leads this specific team as part of the operations and servicing groups. As the VP of Escrow, you will assure accurate and timely servicing of portfolios with intense oversight of the complete daily escrow life cycle processes and personnel from the boarding of new loans to managing the existing portfolios to include: opening/closing/post-closing status and processes relating to the opening, servicing, and closing of all loans and certifies that all loans and agreements comply with all state and federal laws, regulations, as well as policies and procedures.

What you will do:
Ensure new loan boarding data is input accurately. Verify through establishment of quality management controls
Verify escrow analysis is completed accurately and timely at boarding, annually and short year analysis at loan payoff/transfer according to compliance regulations
Review one-off escrow analysis and update escrow analysis shortage spread requests
Monitor MIP processing including monthly disbursements, cancellation, and monthly reporting to MIP companies
Ensure escrow overage checks are cut in a timely manner where required
Monitor stale-dated checks s to ensure reprocessed as required
Work with senior management to ensure all compliance standards are met
Monitor task queues to ensure issue resolution and research is completed in a timely manner
Escalation point for escrow analysis, MIP, and general escrow issues
Work with tax employees to define SMART goals
Perform employee reviews
Ensure all escrow open items are disbursed within required due dates
Balance and send daily tax wire to tax vendor
Oversee/complete tax and insurance boarding for new loans
Update Bankruptcy monthly escrow amounts based on analysis completed by prior servicers
Develop, review, maintain and improve Escrow workflow management
Complete status reporting to senior management
Work with senior management to identify, define and implement process changes
Investor liaison for Escrow inquiries
Updates and maintains policies and procedures
Performs oversight of Escrow vendors
Performs quality assurance testing on escrow functions for each FTE
Responsible for the alignment, supervision, hiring, mentoring, and coaching of the escrow staff
Responsible for the interactions with the investor clients ensuring requests and audits are completed timely
Complete audit requests from internal auditors, QA or QC personnel

What you will bring to Fay:
Bachelor's degree or equivalent experience required
8 years or greater escrow experience within the mortgage servicing industry
5 years of management experience in the mortgage industry

Keywords: Ascendo Resources, Buffalo Grove , Vice President of Escrow, Executive , Buffalo Grove, Illinois

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