Collections, Real Estate Owned and Tax Escrow Account Manager

Main Position Responsibilities


  • Board reporting
  • Delinquent file management
  • Schedule drive by inspections
  • Turn file over to bank attorney for further action when needed
  • Maintain professionalism in correspondence and conversations with borrowers
  • Provide solutions and make payment arrangements for borrowers facing financial difficulty.
  • Provide bank attorney with accurate information regarding payments owed and amount needed to pay in full

Real Estate Owned

  • Board reporting
  • Help facilitate sale of property
  • Oversee maintenance on REO properties
  • Pay utilities, taxes and other bills as needed
  • Monitor property condition by requesting property evaluations on a regular basis

Zombie Properties

  • Secure zombie properties
  • Perform required follow up
  • Register zombie properties
  • Request financial data annually
  • Schedule property inspections
  • Investor/Commercial Properties
  • Monitor property management company’s actions for sufficiency


  • Notify legal counsel that borrower has filed bankruptcy
  • Update file and servicing system to note bankruptcy

Liaison between the Association and the Law Office

  • Bankruptcies
  • Delinquent loans
  • Zombie properties
  • Foreclosure properties

Property Taxes

  • Perform yearly escrow analysis
  • Make distributions, refunds and related customer support for escrow accounts
  • Monitor non-escrow loans to ensure taxes are paid
  • Perform research and resolve basic to moderately complex inquiries concerning escrow accounts
  • Ensure that escrow accounts are set up at the loan level in accordance to lending agreements and regulation

Yearend statements

  • Process 1099A and 1099C forms and report to IRS

All job duties referenced above require detailed documentation of all conversations, actions taken and requests made.

  • Basic Microsoft Office skills required
  • Attend seminars and meetings as appropriate
  • Must be able to draft professional correspondence
  • Additional responsibilities as assigned by supervisor
  • Must comply with all requirements of the Bank Secrecy Act
  • Maintain confidentiality to protect customers and the financial institution
  • Promote the association by maintaining good customer relations while providing courteous, efficient and friendly service to all customers and staff

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