What are the responsibilities and job description for the Escrow Servicing Specialist position at Municipal Credit Union?
About MCU:
At Municipal Credit Union, we believe that an incredible culture helps create a happy and motivated team that works hard to achieve the best results for themselves and their members. For more than 100 years, MCU has provided affordable financial products and convenient services to a membership base that is now comprised of over 600,000 individuals. With each new generation we have the pleasure of interacting with, we maintain the credit union promise of people helping people.
Our Mission:
To help hard-working New Yorkers build better tomorrows
Our Vision:
Be New York's most loved financial institution by helping our members build their best financial futures
Overview: The Escrow Servicing Specialist is responsible for the accurate administration of escrow activities for MCU’s residential mortgage and home equity portfolios. This role oversees escrow profile setup, ongoing monitoring, and the timely disbursement of escrowed funds such as real estate taxes, insurance premiums, PMI, and flood‑related obligations, while ensuring compliance with applicable regulatory and investor requirements and maintaining accurate servicing records. The Specialist independently researches and resolves complex issues, supports member requests, coordinates with vendors and external agencies, and participates in projects and process‑improvement initiatives to enhance efficiency, accuracy, and risk control.
Responsibilities :
Specific duties include, but are not limited to, the following:
Our Core Values are an integral part of who we are and who we hire. By living our Core Values, every day, we continue to attract the best and brightest talent, achieve unsurpassed results and continuously challenge ourselves to be better than yesterday. These values are at the heart of our organization and within every teammate. To be a great fit, you’ll bring the following
Results - We are passionate about winning.
Agility - We proactively anticipate, respond and pivot to ensure MCU wins.
Integrity - We operate with the highest ethical standards and highest degree of honesty.
Belonging - We cultivate a culture of inclusion and teamwork.
Ownership - We take personal responsibility and hold ourselves accountable for the results.
Why You’ll Love Working Here:
The pay range for this position is between $48,200-75,330 annually. Actual base pay offered may vary depending on a number of factors such as job-related knowledge, skills, experience, and location. Employees in this position may also be eligible for a discretionary bonus, 401(k) with an 6% employer match per pay period. Benefits for this position include Medical, vision, dental, life, and disability insurance, flexible paid time off and 11 paid holidays annually.
Municipal Credit Union (MCU) is an Equal Opportunity Employer. Municipal Credit Union provides equal employment opportunities to all employees and applicants for employment and prohibits discrimination and harassment of any type without regard to race, color, religion, age, sex, national origin, disability status, genetics, protected veteran status, sexual orientation, gender identity or expression, or any other characteristic protected by applicable federal, state or local laws.
We are committed to hiring, training, cultivating, promoting, and celebrating an environment where we have a welcoming and fulfilling place for all people to call home. Diversity of race, thought, sexual orientation, age, veteran status, religion, and disability will empower us to thrive as individuals, as teams, and as an organization.
At Municipal Credit Union, we believe that an incredible culture helps create a happy and motivated team that works hard to achieve the best results for themselves and their members. For more than 100 years, MCU has provided affordable financial products and convenient services to a membership base that is now comprised of over 600,000 individuals. With each new generation we have the pleasure of interacting with, we maintain the credit union promise of people helping people.
Our Mission:
To help hard-working New Yorkers build better tomorrows
Our Vision:
Be New York's most loved financial institution by helping our members build their best financial futures
Overview: The Escrow Servicing Specialist is responsible for the accurate administration of escrow activities for MCU’s residential mortgage and home equity portfolios. This role oversees escrow profile setup, ongoing monitoring, and the timely disbursement of escrowed funds such as real estate taxes, insurance premiums, PMI, and flood‑related obligations, while ensuring compliance with applicable regulatory and investor requirements and maintaining accurate servicing records. The Specialist independently researches and resolves complex issues, supports member requests, coordinates with vendors and external agencies, and participates in projects and process‑improvement initiatives to enhance efficiency, accuracy, and risk control.
Responsibilities :
Specific duties include, but are not limited to, the following:
- Perform and review annual escrow analysis, including adjustments for shortages, surpluses, refunds, and payment recalculations.
- Administer escrowed real estate taxes, homeowners’ insurance, flood insurance, PMI, and related premiums, ensuring timely and accurate disbursement.
- Monitor escrow sufficiency, upcoming tax and insurance due dates, payment accuracy, and delinquent tax activity, initiating appropriate servicing actions to prevent penalties and maintain compliance.
- Receive, review, and process tax bills (mail or electronic); analyze disbursements; and resolve discrepancies, delinquencies, reassessments, and jurisdictional changes.
- Conduct ongoing insurance monitoring and manage the force‑placed insurance lifecycle, including placement, cancellation, and refunds.
- Respond to and resolve member inquiries related to escrow, taxes, and insurance.
- Independently research and investigate complex issues involving escrow analysis, tax payments, insurance coverage, cancellations, refunds, and force‑placed insurance.
- Coordinate with insurers and tax authorities to validate information and resolve issues.
- Document findings, identify root causes, implement corrective actions, and escalate high‑risk or systemic issues with recommendations.
- Serve as the primary point of contact for tax and insurance vendors.
- Review vendor data and invoice accuracy related to escrow items, monitor exception reporting, and assess service performance.
- Partner with vendors and internal teams to automate and improve escrow, tax, and insurance processes, reducing manual effort and operational risk.
- Participate in cross‑functional meetings and projects, providing analysis and periodic reporting on escrow activities, issues, and trends.
- Maintain current escrow, tax, and insurance servicing procedures aligned with MCU standards and regulatory and investor requirements.
- Support internal audits, quality control reviews, regulatory exams, and remediation efforts.
- Monitor system‑generated alerts and exception queues to ensure timely investigation and resolution.
- Assist with training, knowledge transfer, and special servicing projects as assigned.
- Perform other related duties as required.
- High school diploma required; Associate’s degree preferred.
- Minimum of 2–3 years of experience in escrow servicing, tax and insurance monitoring, or mortgage operations.
- Experience with Servicing Director or Symitar system strongly preferred.
- Experience with Allied Solutions or a comparable insurance tracking and force‑placed insurance system strongly preferred.
- Proficiency in Microsoft Office Suite and strong data management and analytical skills.
- Demonstrated ability to work independently, manage multiple priorities, and meet critical deadlines.
- Demonstrated ability to independently research, analyze, and resolve complex servicing issues.
- Strong knowledge of escrow analysis, tax servicing, and insurance monitoring requirements.
- High attention to detail with a focus on accuracy, compliance, and risk mitigation.
- Effective written and verbal communication skills with members, vendors, insurers, and governmental entities.
- Strong organizational skills and accountability in a deadline‑driven environment.
Our Core Values are an integral part of who we are and who we hire. By living our Core Values, every day, we continue to attract the best and brightest talent, achieve unsurpassed results and continuously challenge ourselves to be better than yesterday. These values are at the heart of our organization and within every teammate. To be a great fit, you’ll bring the following
Results - We are passionate about winning.
Agility - We proactively anticipate, respond and pivot to ensure MCU wins.
Integrity - We operate with the highest ethical standards and highest degree of honesty.
Belonging - We cultivate a culture of inclusion and teamwork.
Ownership - We take personal responsibility and hold ourselves accountable for the results.
Why You’ll Love Working Here:
The pay range for this position is between $48,200-75,330 annually. Actual base pay offered may vary depending on a number of factors such as job-related knowledge, skills, experience, and location. Employees in this position may also be eligible for a discretionary bonus, 401(k) with an 6% employer match per pay period. Benefits for this position include Medical, vision, dental, life, and disability insurance, flexible paid time off and 11 paid holidays annually.
Municipal Credit Union (MCU) is an Equal Opportunity Employer. Municipal Credit Union provides equal employment opportunities to all employees and applicants for employment and prohibits discrimination and harassment of any type without regard to race, color, religion, age, sex, national origin, disability status, genetics, protected veteran status, sexual orientation, gender identity or expression, or any other characteristic protected by applicable federal, state or local laws.
We are committed to hiring, training, cultivating, promoting, and celebrating an environment where we have a welcoming and fulfilling place for all people to call home. Diversity of race, thought, sexual orientation, age, veteran status, religion, and disability will empower us to thrive as individuals, as teams, and as an organization.
Salary : $48,200 - $75,330