Escrow Officer

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Job description

Company Summary
First American (India) is a Global In-house Center (GIC) of the First American Financial Corporation (NYSE: FAF) family of companies, a proud member of the FORTUNE 500 companies and was named one of FORTUNE's 100 Best Companies to Work For® in 2020. First American Financial Corporation provides comprehensive title insurance, closing/settlement, property data and technology solutions. First American (India) creates quality solutions for its customers by combining software, back office and knowledge processing operations to fulfill First American's business requirements. Our priorities are our employees, customers and shareholders - in that order. FAI has been recognized as one among India's Top 75 workplaces in IT & IT-BPM 2019 by Great Place to Work® Institute. Homebuilder Services Division facilitates the Lender and Homebuilders transaction and helps Escrow Officers, lenders, Homebuilders, Buyers and Notaries. The results are less stressful closings and happier homebuyers.

Job Summary

Responsible for handling real estate transactions by establishing new escrow accounts, managing funds, processing documents for closings, and completing settlements in accordance with established policies and procedures. Acts as a neutral liaison between file parties, adheres to company policy, and monitors and mitigates risk to the company.

Essential Functions

• Completes real estate escrow transactions by determining requirements; clearing titles; assembling, preparing, and reviewing closing documents; disbursing funds.
• Determines closing requirements by studying and clarifying buyer, seller, and lender instructions.
• Orders title reports for issuing title insurance, resolving title defects; satisfying existing liens and encumbrances against property or principals.
• 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; reviewing papers with parties; 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. Prepares settlement statement by utilizing lender instructions.
• Closes escrow account by balancing and disbursing funds.
• Complies with regulatory requirements and company policy 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.

Knowledge and Skills/Technology Used

• Familiar with 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 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, percentages, area, circumference, and volume
• Detail-oriented and professional; able to handle confidential information
• Ability to deal with multiple types of roles such as real estate sellers, buyers, agents and brokers

Typical Education

• High School diploma or equivalent

Typical Range of Experience

• 2-4 years related experience
• Experience directly handling escrow transactions as an escrow assistant preferable

License or Certification

• Valid Licensing/Certification as required by applicable state

First American invests in its employees' development and well-being, empowers them to provide superior customer service and encourages them to serve the communities where they live and work. First American is committed to diversity and inclusion. We are an equal opportunity employer.

Based on eligibility, First American offers a comprehensive benefits package including medical, dental, vision, 401k, PTO/paid sick leave and other great benefits like an employee stock purchase plan.