Commercial Escrow Officer
Company SummaryJoin a team that puts its People First! As a member of First American's family of companies, National Commercial Services provides single-point service for simple to multi-property/multi-state national commercial real estate transactions. Since 1889, First American (NYSE: FAF) has held an unwavering belief in its people. They are passionate about what they do, and we are equally passionate about fostering an environment where all feel welcome, supported, and empowered to be innovative and reach their full potential. Our inclusive, people-first culture has earned our company numerous accolades, including being named to the Fortune 100 Best Companies to Work For® list for seven consecutive years. We have also earned awards as a best place to work for women, diversity and LGBTQ+ employees, and have been included on more than 50 regional best places to work lists. First American will always strive to be a great place to work, for all. For more information, please visit www.careers.firstam.com.
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.
- 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.
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, percentages, area, circumference, and volume
- Detail-oriented and professional; able to handle confidential information
- High School diploma or equivalent
Typical Range of Experience
- 2-4 years related experience with 3+ years’ experience directly handling escrow transactions as an escrow assistant
#NCSDESFirst 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.
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