Essential Duties and Responsibilities:
- Post all incoming wires to correct file in production software, making sure the amount matches the amount received in the bank account.
- Pre-settlement review of file to verify:
- File is in balance (amount coming in = amount going out)
- All requirements have a corresponding disbursement on settlement statement or there is a release in file for any lien not being paid.
- Make note of any obvious, missing company fees on Missing Fees Report and out of balance files ? repetitive patterns should be brought to the attention of the COO and/or President.
- Verification prior to cutting checks at the branch:
- Review amounts on pending disbursements match executed settlement statement or CD (seller proceeds, payoffs, etc.)
- Any checks brought to closing are for the correct amount and deposited at bank.
- Make sure seller proceeds being wired to, or check made payable to, party on the settlement statement.
- Make sure file is in balance (money in = money out)
- Initiate and release (dual control) all outgoing wires.
- Monitor high risk disbursements to make sure they clear the bank in a timely manner (i.e. payoffs, taxes, hazard insurance, etc.)
- Coordinate with Processing for preparation of Invoices for Doc Prep, Title Only, etc. files and prepare the invoice.
- Report any overdue (30 days) unpaid invoices to COO and/or President.
- Run 1099 exception report, monthly, and send to EOs for them to resolve their files.
- Clear/Resolve exceptions raised by daily reconciliation.
- Review Monthly 3-way reconciliation for current escrow accounts.
- Reconcile dormant escrow accounts.
- Unclaimed property (escheat) filings, annually, per jurisdiction
- File 1099s, annually
- Annual OH Department of Insurance Review
- Underwriter audits (November ? February)
- Maintain Estate Escrow IBAs
- Maintain approved closing agent status with Lenders and Third-Party verification companies.
- Positive pay uploads, activity downloads for non-BankUnited trust accounts.