Escrow Specialist II

Old National Bank has been serving clients and communities since 1834. With over $70 billion in total assets, we are a regional powerhouse deeply rooted in the communities we serve. As a trusted partner, we thrive on helping our clients achieve their goals and dreams, and we are committed to social responsibility and investing in our communities through volunteering and charitable giving.

We continually seek highly motivated and talented individuals as our people are critical to our success. In return, we offer competitive compensation with our salary and incentive program, in addition to medical, dental, and vision insurance.  401K, continuing education opportunities and an employee assistance program are also included in our benefit suite. Old National also offers a variety of Impact Network Groups led by team members who are passionate about driving engagement, creating awareness of diverse backgrounds and experiences, and building inclusion across the organization.  We offer a unique opportunity to join a growing, community and client-focused company that is firmly rooted in its core values.

The Escrow Specialist is responsible for the comprehensive management of escrow accounts for first mortgage loans serviced through the Black Knight/ICE servicing system. This role ensures compliance with regulatory requirements, including RESPA and the Homeowner’s Protection Act (HPA), while maintaining high standards of accuracy and customer service. The position requires collaboration with internal teams, external customers, vendors, and government agencies. Key responsibilities include annual escrow analysis, property tax and insurance management (homeowners, flood, force-placed), and private mortgage insurance (PMI) administration.

Salary Range

The salary range for this position is $17.00/hr. - $27.50/hr.. The base salary indicated for this position reflects the compensation range applicable to all levels of the role across the United States. Actual salary offers within this range may vary based on a number of factors, including the specific responsibilities of the position, the candidate’s relevant skills and professional experience, educational qualifications, and geographic location.

Key Accountabilities

Production

• Monitor properties located in flood zones to ensure appropriate insurance coverage is maintained.
• Facilitate loss claims on properties held as collateral.
• Process and remit monthly and annual PMI premiums; manage borrower-requested and automatic terminations/cancellations.
• Conduct annual escrow analyses and establish new escrow accounts in accordance with RESPA guidelines.
• Ensure timely and accurate payment of insurance premiums and property taxes.
• Make authorized adjustments to escrow records or escalate discrepancies as needed.

Monitoring

• Review PMI cancellation/termination reports to ensure compliance with HPA requirements.
• Analyze exception reports to resolve issues related to escrow analysis and regulatory adherence.
• Monitor escrow accounts to confirm timely processing of insurance and tax payments.
• Reconcile discrepancies between servicing and origination systems during loan boarding.

Customer Service

• Respond to internal and external inquiries regarding escrow account changes and activity.
• Collaborate with Fannie Mae and Freddie Mac to ensure accurate PMI terminations.
• Educate customers on HPA guidelines and escrow procedures.
• Communicate with insurance agencies, county offices, and vendors regarding policy updates and payment processing.

Key Competencies

• Productivity: Consistently meet daily task goals and service level agreements while maintaining high-quality standards.
• Problem Solving: Apply subject matter expertise to research issues, assess risks, and implement effective solutions.
• Communication: Deliver clear, concise, and timely verbal and written communications.
• Customer Service: Exhibit a positive, team-oriented attitude with a strong focus on customer satisfaction.

Qualifications and Education Requirements

• Minimum of 2 years of loan servicing experience or equivalent.
• High School Diploma or GED required.

Key Measures of Success/Key Deliverables

• Ability to adhere to daily productivity tasks and complete department service level agreements.
• Development of strong relationships with team members, banking center associates, and customers.
• Continual development and expansion of escrow-related knowledge base.

Old National is proud to be an equal opportunity employer focused on fostering an inclusive workplace and committed to hiring a workforce comprised of diverse backgrounds, cultures and thinking styles. 

As such, all qualified applicants will receive consideration for employment without regard to race, color, religion, sex, national origin, protected veteran status, status as a qualified individual with disability, sexual orientation, gender identity or any other characteristic protected by law. 

We do not accept resumes from external staffing agencies or independent recruiters for any of our openings unless we have an agreement signed by the Director of Talent Acquisition, SVP, to fill a specific position.

Our culture is firmly rooted in our core values.

We are optimistic. We are collaborative. We are inclusive. We are agile. We are ethical.

We are Old National Bank.  Join our team!