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Cenlar FSB | Hiring | Escrow Compliance Business Analyst (Property Insurance) | Trenton, NJ | BigDataKB.com | 5 Oct 2022

Job Location: Trenton, NJ

Escrow Compliance Business Analyst (Property Insurance)
Start something good. Empower your career. Become an employee owner at Cenlar.
Employee owners have made Cenlar the nation’s leading mortgage loan subservicer. Our unique culture is defined by our core values of respect, trust, integrity and care. Company ownership, a promote-from-within philosophy, and opportunities for continuous professional growth make Cenlar a great place to launch or boost your career. Consider this opportunity to join our team as Escrow Compliance Business Analyst.
The Escrow Compliance Business Analyst (“ECBA”) position is responsible for coordination of business line Compliance assurance activities for Escrow related functions. ECBA is the lead representative for all Escrow areas for the Compliance Committee. ECBA is responsible for reviewing or ensuring the review of all GSE bulletins, and the tracking of all Investor guideline changes for Escrow areas. ECBA oversees the implementation of any compliance based process changes, and will coordinate with Escrow Management and filter all Compliance questions from escrow teams. ECBA also oversees Escrow based Compliance projects.
Responsibilities:

  • Serves as the Escrow lead for Compliance Committee
  • Oversees all Compliance based escrow change processes for all Escrow departments
  • Ensures all Escrow department’s regulatory procedures are reviewed and compliant
  • Responsible for review of all GSE announcements and determination of any needed process changes
  • Coordinates annual process to ensure Escrow Analysis statements and all escrow letters produced by Escrow areas are compliant
  • Works directly with Escrow and Legal on any escalated Compliance question
  • Develops and provides Escrow management with monthly Compliance tracking reporting for request volume, Compliance committee reporting, audit findings, and project status and procedural updates
  • Creates HEAT MAP tracking within monthly escrow compliance reporting; perform trend analysis on key compliance items
  • Reviews all client, internal, and external audits for Escrow Compliance based findings-ensure accurate and timely remediation of these findings
  • Oversees business line testing (and KRI performance) of Escrow related federal and state regulatory items (RESPA-Escrow Analysis, Taxes, Insurance, Short Year Statements), HOPA, FDPA, Interest on Escrow)
  • Works with MIS/IT department to integrate any new initiatives

Qualifications:

  • Bachelor’s degree and/or equivalent
  • 5+ years relevant escrow or compliance work experience
  • Proficiency with MS office including SharePoint, Visio, Excel, Access, PowerPoint; Access database skills a plus
  • Proficiency with mortgage servicing system (MSP/Black Knight) and Passport applications
  • Knowledge of commonly used concepts, practices and procedures within the field
  • Excellent critical thinking and logical reasoning abilities
  • Strong organizational skills
  • Demonstrated ability to facilitate communications across cross-functional teams
  • Strong analytical and problem-solving skills
  • Excellent verbal and written communication skills
  • Proven ability to work independently and interface with all levels and functions of an organization
  • Self-starter, entrepreneurial, highly motivated, “get-the-job-done” type
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Escrow – Flood Insurance (RC 205/405)It is critical that you have an understanding of the following:

  • Requirements under the Flood Disaster Protection Act (FDPA) specifically:
  • notification of change of servicer,
  • amount and term of coverage,
  • escrow of flood insurance payments,
  • placement of flood insurance by lender,
  • requirement for mortgage loans, and
  • exceptions to the flood insurance purchase requirements.
  • Requirements under the Homeowner’s Flood Insurance Affordability Act (HFIAA) specifically, exceptions to escrow requirement for flood insurance payments.
  • Requirements under the Real Estate Settlement Procedures Act (RESPA) specifically, escrow analysis at creation of escrow account

Escrow – Hazard Insurance (RC 205/405)It is critical that you have an understanding of the following:

  • Requirements under the Real Estate Settlement Procedures Act (RESPA) specifically:
  • timely escrow disbursements required,
  • basis for charging a borrower for force-placed insurance,
  • requirements before charging a borrower for force-placed insurance,
  • requirements for the reminder notice,
  • contents of letter notice,
  • cancellation of force-placed insurance, and
  • timely payments of hazard insurance

Escrow – Tax (RC 205/405)It is critical that you have an understanding of the following:

  • Requirements under the Real Estate Settlement Procedures Act (RESPA) specifically:
  • timely payments,
  • escrow analysis at creation of an escrow account,
  • disclosure requirements for escrow items,
  • initial escrow account statement submission at settlement or within 45 calendar days of settlement,
  • escrow account analysis and shortages, surpluses, and deficiencies requirements, and
  • refunding an escrow balance

Escrow Analysis (RC 205/405)It is critical that you have an understanding of the following:

  • Requirements under the Real Estate Settlement Procedures Act (RESPA) specifically:
  • subsequent escrow account analyses,
  • annual escrow account statements,
  • escrow account analysis and shortages, surpluses, and deficiencies requirements, and
  • initial escrow account statements.
  • Requirements under the Federal Rules of Bankruptcy Procedures specifically, proof of claims and escrow analyses

Total Rewards: As an employee-owner at Cenlar, you’ll receive an outstanding benefits package that includes paid medical, dental, and life insurance, 401(k), and tuition assistance as well as opportunities for training and professional advancement.Cenlar is a drug-free workplace and an equal employment opportunity/affirmative action employer M/F/D/V/SO

INDHP1

Job Type: Full-time

Pay: From $50,000.00 per year

Schedule:

  • 8 hour shift

Work Location: Hybrid remote in Trenton, NJ 08618




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