Newtown Savings Bank

Loan Servicing Representative - Collateral Tracking and Escrow

Newtown, Connecticut
Mar 10, 2017
May 09, 2017
Employer Type
Direct Employer
Employment Type
Full Time

Location: Newtown, CT

Newtown Savings Bank is seeking a friendly, organized, team player to join our Loan Servicing Department as a Loan Servicing Representative – Collateral Tracking and Escrow.  This position is responsible for collateral tracking and related job functions including tax and insurance escrows, and report generation.  The Loan Servicing Representative ensures work is processed within department standards and meets regulatory requirements, as well as provides quality customer service to customers and bank staff.


  • Process escrow disbursements such as taxes, hazard insurance, flood insurance, mortgage insurance, credit life and disability and remit payment in a timely manner.
  • Monitor all collateral securing loans for unpaid taxes and insurances, as well as, master policies for Condominiums and Planned Unit Developments.  Ensure regulatory requirements are met.
  • Reconcile daily and monthly general ledger accounts as specified.
  • On a monthly basis, prepare the New Loan Report for management.
  • Maintain, run and balance daily Core Profit queries in Jack Henry. Provide management with monthly date report.
  • Review loan rate changes and mail letter within contractual timeframes.
  • Responsible for monitoring and setup for flood and Private Mortgage Insurance activations, cancellations and terminations. 
  • Review new loan import reports for accuracy on residential 1st and 2nd mortgages loans, personal loans and cash reserve products. Make changes as necessary.
  • Monitor and report monthly delinquent taxes and insurances on secured loans; work with the Relationship Manager and/or Loan Administration to resolve any issues.
  • Assist with rate changes and mail rate change letters within contractual timeframes.
  • Scan and/ or file loan documents.
  • Monitor and process credit bureau corrections and disputes.
  • Setup, change and delete Automatic Funds Transfer (AFT) and Automated Clearing House (ACH) accounts.  Process rejects, assess fees and send customer notices.
  • Process the annual escrow analysis, ensuring state and federal regulatory requirements are met.  Order annual escrow statement, analyses overages and shortage and/or deficiency for all escrow accounts. 
  • Track collateral; secure vehicle titles, and assist with placement and removal of force-placed insurances.  Ensure regulatory requirements are met.
  • Handle and resolve customer inquiries and complaints in a professional and timely manner.
  • Keep abreast of rules and regulations related to assigned functions, recommends updates as needed.
  • Promote the Bank’s products and services.
  • Perform other daily tasks as assigned.


  • High School diploma is required
  • Attention to detail and strong customer service skills
  • Excellent Microsoft Excel and Word applications skills
  • Able to work independently and in a team environment
  • Must be well organized and dependable


To perform this job successfully, an individual must be able to perform each essential duty satisfactorily.  The requirements listed above are representative of the knowledge, skill, and/or ability required.  Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.

Any physical demands or work conditions described here are representative of those that must be met by an employee to successfully perform the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.

Full time employees also receive a complete benefit package including a generous 401(k), medical benefits, paid time off, and short and long term disability programs.

Newtown Savings Bank is an equal opportunity and affirmative action employer regardless of race, gender, disability status, protected veteran status.  All qualified applicants will receive consideration for employment without regard to race, color, religion, gender, age, marital status, national origin/ancestry, sexual orientation, gender identity, disability status, protected veteran status, or any other legally protected status.