Think Beyond The Label Jobs

Escrow Officer/LPO/Settlement Agent

Job Summary The Closer/Limited Practice Officer (LPO) is responsible for fully understanding and completing the title and escrow process, and for completing real estate escrow transactions by determining requirements, clearing title, assembling, preparing, and reviewing closing documents, and the disbursement of related funds. The Limited Practice Officer can read and understand legal descriptions and has an advanced knowledge of related documents and how they impact and relate to property transactions.

Responsibilities

• Determine escrow requirements by reviewing the purchase and sales agreements, buyer, seller, and lender instructions
• Supervise the clearing of title, resolving title defects, satisfying existing liens and encumbrances against property or principals
• Establish escrow accounts by depositing funds and maintaining records. Review receipts and disbursements ensuring files are in balance
• Prepare transaction documents by completing forms and statements, collecting and reviewing existing documents
• Complete calculations and pro-rations of taxes and interest
• Complete closing the transaction by assembling documents and closing statements, checking documents for completeness and accuracy; reviewing papers with parties to the transaction, explaining provisions and procedures, answering questions, and obtaining signatures
• Follow up with buyers, sellers, lenders, and agents to make sure all items required to complete the transaction have been received (including verifications of commissions, septic inspections, bills, utilities, and any warranties offered)
• Send estimated Settlement Statements to agents and lenders
• Establish signing appointments with buyers and sellers, and notify agents and lenders regarding scheduled appointments
• Prepare funding packages for shipping to the lender for final review
• Balance with the lender for funds to be wired
• Review and balance files before disbursement
• Complete the transaction by calling all parties to notify them of the close of escrow
• Maintain ongoing conversations with all parties throughout the transaction
• Conduct buyer/seller signings
• Comply with regulatory requirements by adhering to and enforcing adherence to requirements
• Update job knowledge by participating in educational opportunities (i.e., attending in-house training sessions; reading professional publications; participating in professional organizations)
• Supervise all post-closing items to prepare files for storage
• Build & maintain relationships with agents, builders, and lenders or other clients directing business to PNWT.

Qualifications

LPO license is preferred but not required or 3 years of experience as an Escrow Closer.

If LPO is Licensed, the license must be in active status

Fully understand the flow of a transaction from the taking of the order to typing the policy

Must have complete knowledge of the vesting of title

Possess a comprehensive understanding of marital status questions relating to community property law, and issues relating to Real Estate contracts, as well as in determining Presumptive Spousal Issues

Have a comprehensive understanding of homestead laws and how they relate to vesting and title insurance

Possess a thorough understanding of trusts, and the ability to comprehend and follow trust instructions

Have a comprehensive knowledge and understanding of Corporations, LLCs, Partnerships, and vesting requirements

Capable of clearly communicating to customers, clients, and vendors what is written in preliminary commitments

Be able to read and decipher legal descriptions, surveys, and complaints filed in the superior court or county auditor's office