Real Estate Admin Associate
Date ActiveOct 6, 2022 9:10:19 AM
Hours Per Week37.5
Job Description/ Requirements
If you’re looking for a meaningful career, you’ll find it here at Webster. Founded in 1935, our focus has always been to put people first--doing whatever we can to help individuals, families, businesses and our colleagues achieve their financial goals. As a leading commercial bank, we remain passionate about serving our clients and supporting our communities. Integrity, Collaboration, Accountability, Agility, Respect, Excellence are Webster’s values, these set us apart as a bank and as an employer.
Come join our team where you can expand your career potential, benefit from our robust development opportunities, and enjoy meaningful work!
The Real Estate Administration Associate oversees insurance related activities for Webster Bank’s real estate secured portfolio. The Associate performs loan administration functions involving customer/insurance agent relations and maintains the Bank’s records pertaining to hazard, general liability and flood insurance. In addition to the above responsibilities, this role will assist with the processing of payments for real estate taxes on escrow/non-escrow loans.
Core Job Responsibilities/Key Activities/Elements:
- 50% -- Processes real estate tax payments; generate escrow disbursement invoice list and reconcile all disbursements, ensuring payments are made within required timeframe to avoid tax penalties.
- 30% -- Maintain Bank’s records pertaining to hazard, general liability and flood insurance in core database system. Generate annual Escrow Analysis for all escrowed loans. Manages Undertakings, Escrow Reserves and escrow overage refunds, when requested.
- 10% -- Research the non-payment of real estate taxes and follow up with tax delinquents and tax authorities to protect the Bank from potential property losses; review monthly tax delinquency report for the Asset Quality Team, Commercial Account Officers and Collectors to monitor escrow and non-escrowed loans and resolve tax delinquencies.
- 5% -- Set up files for property losses that may occur due to fire; obtain all insurance and contractor documents; correspond with customer and contractor to ensure updates of work are complete; contact inspector for final inspection report; release funds when work is completed.
- 5% -- Reconcile insurance-related items in general ledger daily; provide end of month general ledger to Finance.
- Ensure compliance with all regulations, policies, and procedures.
- For this position, you must have at least 2 years of experience in Real Estate Administration.
SPECIFIC JOB RELATED EDUCATION & SKILLS
- Candidates with advanced degrees (Associates, Bachelor’s, and/or Master’s) preferred, yet a High School diploma or GED is accepted. Candidates with some combination of coursework and experience, or else extensive related professional experience, are eligible for consideration.
- Strong verbal and written communication skills.
- Exceptional problem solving and multi-tasking skills with attention to detail.
- Effective time management, organizational and prioritization skills,
- Working knowledge of Microsoft product suite (excel, word, outlook, etc.)