Escrow Officer
Quick Facts
Median Salary$54,636
Most Common EducationHigh school or GED
Projected 10-Year Growth-10.55%
Assessment MatchTake the Assessment
What They Do
An Escrow Officer assists in the variety of tasks that are necessary to the completion of property transactions, from the position of neutral third party. Performs tasks that include preparing escrow instructions, holding and disbursing funds, preparing title documents and obtaining parties' signatures on paperwork.
Core Tasks:
- Meet with applicants to obtain information for loan applications and to answer questions about the process.
- Analyze applicants' financial status, credit, and property evaluations to determine feasibility of granting loans.
- Approve loans within specified limits, and refer loan applications outside those limits to management for approval.
- Explain to customers the different types of loans and credit options that are available, as well as the terms of those services.
- Submit applications to credit analysts for verification and recommendation.
- Review loan agreements to ensure that they are complete and accurate according to policy.
- Obtain and compile copies of loan applicants' credit histories, corporate financial statements, and other financial information.
- Review and update credit and loan files.
- Handle customer complaints and take appropriate action to resolve them.
- Work with clients to identify their financial goals and to find ways of reaching those goals.
- Stay abreast of new types of loans and other financial services and products to better meet customers' needs.
- Market bank products to individuals and firms, promoting bank services that may meet customers' needs.
- Analyze potential loan markets and develop referral networks to locate prospects for loans.
- Compute payment schedules.
What to expect as an Escrow Officer
1Earn a High school or GED Diploma
46% of people achieve this level of education.
2Gain skills and experience
See Escrow Officer related courses on Tallo
3Land a job
556 openings for Escrow Officers
Career Progression
in United States (Nation)
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