Escrow Specialist – Commercial/Multifamily Loan Servicing

About Us:

The Community Preservation Corporation (CPC) believes stable and sustainable affordable housing is the foundation of strong communities and we strive to contribute to comprehensive neighborhood revitalization through our lending and partnerships. A nationally recognized leader in affordable housing finance, CPC has provided a consistent source of capital to underserved housing markets throughout New York State since our inception in 1974.

Today, CPC stands as the largest CDFI solely committed to investing in multifamily housing, having invested more than $15 billion to finance the creation and preservation of more than 230,000 units of quality housing in neighborhoods across New York State and beyond. CPC has a robust construction lending platform, a mortgage bank, and equity and impact investment platforms that focus on our three goals: Expanding Affordable Housing, Closing the Racial Wealth Gap and Investing in the Green Economy.

As a member of our team, you'll have the opportunity to work on impactful projects that make a real difference in people's lives. We're looking for talented individuals who are passionate about our mission and share our values of commitment, respect, excellence, accountability, and collaboration.

Role Summary:

The Escrow Specialist is responsible for the accurate and timely execution of all Escrow functions within the commercial loan servicing platform, including Real Estate Taxes, Insurance, Mortgage Insurance, and the annual Escrow Analysis cycle. This position brings deep subject matter expertise and serves as a key control point within the process, with responsibility for in-depth review, quality control, and approval of escrow analyses and disbursements. The role ensures compliance with servicing agreements, investor requirements, and internal control standards, while maintaining a high level of data integrity and borrower service standards. Working closely with the Sr. Manager of Escrow Operations, this individual acts as a central resource for the team—resolving complex issues, managing escalations, and providing guidance, training, and support across the escrow function. The role also plays a critical part in enhancing processes, strengthening controls, and driving consistency and accuracy across the escrow workflow.

What You’ll Do:

• Perform detailed review, quality control, and approval of escrow disbursements for Real Estate Taxes, Insurance, and Mortgage Insurance to ensure accuracy, timeliness, and compliance with servicing standards prior to release of funds.

• Monitor and validate escrow balances to identify shortages, surpluses, and deficiencies, ensuring accurate borrower communications and timely resolution of issues.

• Conduct in-depth escrow analyses and reviews, including validation of payment histories, projected disbursements, and proposed adjustments in accordance with investor and servicing requirements.

• Support and review the annual escrow analysis cycle, including validation of calculations, review of borrower notices, and resolution of complex inquiries.

• Serve as a subject matter expert for complex escrow items, including tax delinquencies, insurance cancellations, and discrepancies, providing guidance and driving resolution of escalated issues.

• Act as a key control point within the escrow workflow, ensuring adherence to servicing agreements, internal policies, and regulatory requirements.

• Collaborate cross-functionally with Servicing, Finance, Investor Reporting, Asset Management to resolve discrepancies and support data integrity and accurate system posting.

• Identify and support process improvements, including workflow enhancements and control strengthening to increase efficiency, accuracy, and consistency.

• Contribute to the development and refinement of procedures and training materials, helping ensure consistent execution and supporting onboarding of team members.

Skills and Experience:

• Bachelor’s degree in Business, Finance, Accounting, Real Estate, or related field preferred.

• 5 years of experience in commercial loan servicing or escrow operations, with strong knowledge of escrow analysis, disbursements, and investor requirements (Agency experience preferred).

• Advanced understanding of tax cycles, insurance requirements, and escrow methodologies, with the ability to independently review and validate complex scenarios.

• Proven ability to perform detailed review, QC, and approvals with strong judgment and attention to detail.

• Strong analytical and problem-solving skills with a focus on data accuracy and integrity.

• Excellent communication skills with the ability to collaborate across teams and with external partners.

• Proficiency in loan servicing systems (e.g., Strategy/McCracken) and Excel.

• Ability to manage multiple priorities and meet deadlines in a fast-paced environment.

• Willingness to travel as needed

What We Offer:

• Competitive compensation

• 401(k) retirement plans with employer match

• Medical, dental, and vision benefits for employees and their dependents

• Commuter benefits

• PTO for vacation, personal days, sick leave, holidays, jury duty, bereavement, parental leave, and disability

• Tuition assistance program

• Two “work from anywhere” weeks per year

• Summer Fridays

• Collaborative working spaces

• Service days to support our communities

• Employee development and engagement events

• More about our offerings and culture here

This is a hybrid role where you will work from the Chappaqua, NY office two – three days a week. The salary range is $75,000 – $90,000, dependent on experience and market factors.

Applicants must be authorized to work in the United States. The Community Preservation Corporation does not provide employment sponsorship of any kind. Candidates are responsible for ensuring they meet all minimum qualifications for the position at the time of application.

The Community Preservation Corporation is an Equal Opportunity Employer, and all employment-related decisions including recruitment, selection, evaluation, promotion, compensation, training and termination are made without regard to race, creed, color, national origin, sex, disability, marital status, status as a veteran, sexual orientation or gender identity, or any other protected status

Compensation Range: $75K - $90K