Commercial Escrow Officer

Responsible for establishing new escrow accounts and processing escrow documents in accordance with established policies and

procedures. Acts as a neutral third-party between buyers and sellers during a real estate sale, managing funds and processing real estate transactions. Provide support to Commercial Underwriting/Closing department by assisting with customer service and administrative duties related to escrow closings.

Essential Functions

• Determines escrow requirements by studying and clarifying buyer, seller, and lender instructions.
• Interprets earnest money, escrow and purchase agreements as they relate to closing and prepare all documents required for transactions (ex. W-9, 1099, wire instructions)
• Establishes escrow account by depositing funds; maintaining records.
• Prepares transaction documents by completing forms and statements; collecting and reviewing existing documents.
• Completes calculations by prorating taxes and interest.
• Completes closing transaction documents by assembling documents; explaining provisions and procedures; answering questions; checking documents for completeness and accuracy; obtaining signatures.
• Completes closing by recording and filing documents; preparing and distributing final closing statements and title.
• Closes escrow account by balancing and disbursing funds.
• Complies with regulatory requirements by adhering, and enforcing adherence, to requirements.
• Updates job knowledge by participating in educational opportunities; reading professional publications; maintaining personal networks; participating in professional organizations.
• Enhances organization reputation by accepting ownership for accomplishing new and different requests; exploring opportunities to add value to job accomplishments.

Knowledge and Skills/Technology Used

• Knowledge of standard concepts, practices, and procedures within the escrow/title industry field
• Knowledge of Microsoft Office applications
• Good client relations and organizational skills
• Ability to write routine reports and correspondence
• Ability to speak effectively before groups of customers or employees of organization
• Ability to calculate figures and amounts such as discounts, interest, commissions, proportions,  and percentages 
• Detail-oriented and professional; able to handle confidential information

Typical Education

• College Degree Preferred

Typical Range of Experience

• 2-4 years related experience with 2+ years’ experience directly handling escrow transactions