Escrow Officer Job Summary
An escrow officer acts as an intermediary and neutral third party in real estate transactions between buyers and sellers. They are experts in complex real estate transactions and work closely with lenders, real estate agents, escrow assistants, lender institutions, and brokers. An escrow officer ensures the mortgage transaction is carried out correctly and holds a fiduciary responsibility to both parties of an escrow agreement. They are also responsible for monitoring the status of the escrow process, obtaining legal documents and title insurance, and seeing that escrow instructions are followed and lender requirements are met until closing documents are created in time for disbursing. Escrow officers are generally employees for a real estate broker, independent escrow company, or title company.
Escrow Officer Job Template
Escrow Officer Job Summary
We’re seeking a motivated escrow officer to join our well-established escrow team. You’ll be responsible for expanding our operations and conducting closing processes for real estate transactions. Applicants should demonstrate strong attention to detail and commitment to customer service. If you are looking for a lucrative position with a high-performing team, please apply today!
Escrow Officer Responsibilities
- Interact and coordinate with industry contacts such as realtors, loan officers, underwriters, brokers, buyers, and sellers
- Review title commitment, lender instructions, purchase and sale agreements to be sure the duties and responsibilities are clear to facilitate closing
- Comply with all state and federal laws governing escrow transactions and escrow accounts
- Monitor progress in compliance with all terms and conditions of purchase contracts
- Coordinate the issuance of title policies with title examiner
- Assemble and deliver closing statements to buyers, sellers, brokers, agents, and lenders
- Disburse escrow funds accurately and complete administrative tasks such as reporting
Escrow Officer Qualifications
- Prefer college degree or equivalent work experience — high school diploma required
- 3+ years of real estate closing escrow transactions experience with residential sales, REO, refinance, short sale escrow, or commercial
- Must possess a strong understanding of real estate contracts, mortgage loans, title commitments, and title insurance
- Solid knowledge of title insurance, regulatory guidelines, the escrow process, legal documents, and real estate property law
- Excellent written and verbal communication skills required
- Proficient working with escrow / title software
Escrow Officer Compensation
$54,233 (National Average)
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