Escrow Assistant Job Description

Escrow assistants, also known as escrow clerks, assist with opening, maintaining, and closing client escrow accounts by performing various clerical and administrative duties. Title companies, banks, and escrow companies hire escrow assistants to work full- and part-time shifts in office environments, typically during daytime business hours. Escrow assistants work independently, but report to escrow officers frequently and receive regular assignments. Escrow assistants do not typically travel outside of the office to perform their normal work duties.

 

Escrow Assistant Duties and Responsibilities

Daily duties performed by escrow assistants vary based on how many customer accounts they’re working on and how many escrow officers they assist with various duties. However, there are several core tasks associated with this job that are universally the same.

Maintain Files

Escrow assistants maintain customer files by organizing and filing documents, and locating specific files for escrow officers upon request.

Create Documents

Escrow assistants create and edit documents and correspondence as requested by escrow officers.

Prepare Documents

Escrow assistants prepare document forms by filling in necessary client information. This includes title documents, settlement statements, and other legal documents.

Maintain Escrow Logs

Escrow assistants create and maintain escrow logs to show client information and progress on each escrow case.

Verify Customer Information

Escrow assistants verify customer information through research and direct questioning to ensure accuracy of escrow documents.

Perform Clerical Duties

Escrow assistants perform other clerical duties as assigned by escrow officers.

 

Escrow Assistant Skills and Qualifications

Escrow assistants perform many different administrative duties to prepare documents, maintain customer files, and assist with creating and closing escrow accounts, including copying, filing, and typing paperwork. Companies that hire escrow assistants look for professionals who have the essential skills required to perform the various duties associated with the job.

  • Communication skills – escrow assistants use excellent written communication skills to create and edit documents and paperwork for escrow accounts
  • Multi-tasking – escrow assistants must be great multi-taskers who can manage several job duties and cases at once
  • Organization – escrow assistants use organization skills to maintain files for every escrow account. They also need to access files and specific documents quickly upon request
  • Computer skills – escrow assistants create and edit various documents using digital programs, which requires good computer skills
  • Attention to detail – escrow assistants use attention to detail to ensure the accuracy of escrow documents and client information
  • Customer service – escrow assistants may sometimes interact with customers, answer questions, and give customers paperwork as needed, all of which requires good customer service skills

 

Escrow Assistant Education and Training

A majority of employers seek out escrow assistants who have a high school diploma or GED. Previous office experience is strongly preferred by many hiring companies, but this is not always a requirement. No additional education or training is necessary for escrow assistants, who are often hired on an entry-level basis.

Because this is an entry-level job, paid training is usually provided to escrow assistants. This training period varies by company but may last for several weeks. While in training, escrow assistants are supervised by escrow officers and, when present, the office manager.

 

Escrow Assistant Salary and Outlook

According to the Bureau of Labor Statistics (BLS), secretaries and administrative assistants earned $18.21 median hourly income in 2017, which equates to $37,870 median annual income. There were almost four million jobs available for secretaries and administrative assistants in 2016, a number that BLS data shows is likely to decline by five percent through 2026. Like escrow assistants, secretaries and administrative assistants typically have a high school education and perform various clerical and administrative duties. Both types of professionals maintain files, create documents, and perform tasks as requested. Escrow assistants earn $16.78 median hourly income, according to data provided by PayScale.

Full-time escrow assistants are provided with medical insurance benefits by most employers. Sometimes, vision and dental insurance coverage are offered as well. Paid vacation days and holidays are typically provided to escrow assistants. Some escrow assistants may receive additional perks, such as continuing education reimbursement, gym mmberships, child care assistance, and free parking. Part-time escrow assistants do not typically receive benefits from employers.

 

Helpful Resources

Made for escrow assistants and similar professionals, these books and websites provide valuable training tools, tips, and techniques designed to help individuals excel at their chosen career path:

The Business of Escrow – visit this website to find training courses and classes for escrow assistants and other escrow professionals.

Administrative Assistant’s and Secretary’s Handbook – this book provides essential tips and techniques that every administrative professional needs to know, from using computer skills to improving professional performance in every aspect of the job.

American Society of Administrative Professionals – look for certification programs, find training webinars, and learn more about being an administrative professional at this website.

The Organized Admin: Leverage Your Unique Organizing Style to Create Systems, Reduce Overwhelm, and Increase Productivity – read this book to learn how to be organized and stay organized in the office, a skill every escrow assistant needs to know.

The Association of Executive and Administrative Professionals – visit this website to study seminars, read news updates, browse education programs, search for jobs, and find professional networking opportunities for escrow assistants and all administrative professionals.

Business Writing Essentials: How To Write Letters, Reports and Emails – learn the art of business writing with this book that provides tips for all types of professional documents. The text includes helpful templates.

 

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