Escrow Holdback Specialist

CrossCountry Mortgage (CCM) is the nation's number one distributed retail mortgage lender with more than 7,000 employees operating over 700 branches and servicing loans across all 50 states, D.C. and Puerto Rico. Our company has been recognized ten times on the Inc. 5000 list of America's fastest-growing private businesses and has received many awards for our standout culture.

A culture where you can grow! CCM has created an exceptional culture driving employee engagement, exceeding employee expectations, and directly impacting company success. At our core, our entrepreneurial spirit empowers every employee to be who they are to help us move forward together. You’ll get unwavering support from all departments and total transparency from the top down.

CCM offers eligible employees a competitive compensation plan and a robust benefits package, including medical, dental, vision, as well as a 401K. We also offer company-provided short-term disability, an employee assistance program, and a wellness program.

Position Overview:
The Escrow Holdback Specialist is responsible for the disbursement and the post-closing tasks associated with Escrow Holdback Loans. Tasks will include but are not limited to the sending out of Borrower Welcome Letters, verifying where funds are being held, monitoring progress, ensuring working completion dates are being followed and processing final disbursements.
Job Responsibilities:
• Complete the Escrow Holdback Loan disbursement process.
• Send out Borrower Email Welcome Packages.
• Verify where Escrow Holdback Funds are being held.
• Review the Closing Disclosure and reconcile with the 2015 Itemization for fund allocations.
• Review Appraisal for work to be completed.
• Monitor undeliverable loans and request lock rate extensions as required.
• Monitor and authorize Municipality and Title Company release of funds.
• Monitor each loan’s progress and manage daily borrower communication.
• Interface with Loan Officers, Branch representatives, Closers, Title Companies, Municipalities and Contractors all to facilitate close out of Escrow Holdbacks.
• Maintain and update daily communication logs on projects by entering information into Encompass (the operating system’s fields and folders).
• Order the inspections, coordinate scheduling, and retrieve reports from respective websites.
• Collect the w-9, lien waiver, invoice, release authorization and any necessary inspections to release Escrow Holdback Funds.
• Disburse Escrow Holdback Funds within allotted timeframes set by agency and lender.
• Process the close out of the Escrow Holdback with any related Agencies as required.
• Perform other adjacent team duties as needed.
Qualifications and Skills:
• High School Diploma or equivalent.
• 1 year of Mortgage Lending or Financial Industry experience preferred.
• Knowledge of Encompass preferred.
• Proficient in math and analytical skills.
• Excellent professional communication skills.
• Adept in problem solving.
• Excellent prioritization and time management.
• Experienced with Microsoft Outlook, Excel, Word and Windows.
This job description is intended to convey information essential to understanding the scope of the job and the general nature and level of work performed by job holders within this job. However, this job description is not intended to be an exhaustive list of qualifications, skills, efforts, duties, responsibilities or working conditions associated with the position.

Pay Range:

• Hourly Rate: $22.60 - $25.00

• The posted pay range considers a wide range of compensation factors, including candidate background, experience and work location, while also allowing for salary growth within the position.