Job Description

MUST APPLY ON THE WEBITE: CAREERS | NACA (HTTPS://WWW.NACA.COM/CAREERS/ )

HAND – ESCROW COORDINATOR SALARY RANGE: $16 - $20 per hour FLSA: Non Exempt LOCATION: Rehab Department-San Antonio, Texas CONTACT: jobs@naca.com BENEFITS: Excellent single/family health, vision and dental PPO, with 75% employer contribution, PTO, Life Insurance & 401(k).

POSITION SUMMARY: The HAND Escrow Coordinator works in NACA’s Home and Neighborhood Development (HAND) Department and is responsible the processing and management of rehab escrows for closed loans requiring repairs. The Work Escrow are funds held by the lender to be disbursed for completed work for a specified scope of work after the loan has closed. The Escrow Coordinator has direct oversight over all open escrow accounts. S/he works with the Member, contractor, draw inspectors and lender to authorize payment disbursements, management of rehab escrow balances, project ledgers and close outs. S/he communicates with the Member and their approved contractor(s), providing assistance and education about HAND’s post close payment process policies. An Escrow Coordinator must contact multiple Members each day resulting in at least forty (40) reviews a day, which includes confirmation of funds, preparation of rehab ledgers, draw inspection reviews, payment authorizations, lender payment conditions, reconciliation of funds resulting from project change orders and eventual escrow close out requests. The Escrow Coordinator works directly with the lender’s construction lending teams maintaining regular reporting of all open accounts, setting up new vendors, providing approved supporting documentation of all project work and addressing aged account reviews.

JOB RESPONSIBILITIES: This position requires general accounting and bookkeeping experience in coordination of the Work Escrow disbursement process including, but not limited, to specific responsibilities described below.

• Work Escrow Confirmation and account set up – Confirm that the amount available for disbursement matches final budget and Closing Disclosure. Prepare the project ledger and provide it to the Member. Confirmation done within 48 of loan closing.
• Draw Inspections - Review draw inspection(s) to determine payment authorization based on the percentage of work complete with deduction for holdbacks and verified material purchases. Decision within 24 hours of receiving draw inspection including requesting additional documentation and information from Member and contractor.
• Member Payment Authorization – Review draw inspection and inspector comments related to completeness and quality of work. Communicate with Member concerning inspection and applicable comments. Determine the agreed upon amount to release to contractor for partial or full and final payment. Communicates with Member within 24 hours of receipt of inspection.
• Payment Authorization – request contractor payment from lender within 24 hours of receipt of Member’s approval.
• Lender Payment – within 24 hours of proof of disbursement by Lender, scan proof into file and update project ledger. Send Member project ledger noting balance of escrow account.
• Vender Set-Up - Confirm that license, insurance and W9 are current and submitted to Lender for future payment disbursements.
• Lien Waivers - Receive and confirm accurate lien waiver in amount of payment release for partial or final payments.
• Payment Verification - verify and document all approved change order deductions and credits to support accurate accounting of monies applied to each contract agreement supporting total amount of funds due contractor at completion of work.
• Appraisal - verify lender final appraisal is ordered, completed and passed for payment disbursed. Document file with copy of check or wire authorization (Bank Authorization) for each payment released. Communicate with Member and contractor if appraisal fails to discuss options to address final payment.
• Accounting Ledger – Maintain ledger of the Work Escrow for each approved contractor, and contingency amounts for escrow account until the rehab is complete and closed.
• Disputes - Work with HAND management and Legal department regarding project disputes and litigation holds.
• Project Close Out - Same day as final payment but no more than two weeks if Member seeking use of remaining contingency funds.
• Conduct bi-weekly review of open accounts and provide lender with status of project, working with HRC to contact Member when a project becomes inactive, such as no inspection or payment within last 30 days.
• Documentation – Provide completed detailed narratives.
• Appointments – confirm and complete all scheduled appointments on HAND calendar resulting in HAND Action Plan and narrative.
• Education - Members are informed of and prepared for the rehab process from inspection to post close project and payment management. Also provide such information to vendors, NACA staff, real estate agents, and others about HAND policies and procedures.
• Follow-up – Follow-up with Members, real estate agents, vendors, NACA staff and others.
• Status Reports - provided every two weeks until project complete.
• Project Complete – Complete rehab projects within contract agreement dates but not to exceed six (6) months from the closing date; 12 months with management exception due to extenuating circumstances.
• Reports – Provide reports including Aged Account Report on status on all aged files over 6 months old, status report and others as requested.

TIME DEMANDS: The Escrow Coordinator must be able to meet the demands of the job that consists of 40 to 50 hours a week. NACA reserves the right to modify the work hours by changing hours, changing shifts, and/or requiring weekend work. Such modifications may occur on short notice including during an existing shift. The Typical day is 8:30 a.m. to 6:00 p.m.; based on performance, volume and workload. Weekends as required to complete overdue tasks ensuring closing timetables are met.

QUALIFICATIONS: EDUCATION: a. B.A. or B.S. in Accounting, Finance, or Residential Construction Related Fields – Preferred b. Hold License(s) or Certification(s) in one or more residential repair trade services –Preferred c. High School Graduate or Equivalency – Required d. Mortgage and/or real estate courses- preferred EXPERIENCE: a. Five years or more in business accounting or bookkeeping, including banking or processing experience relating to account and/or pipeline management. b. Field experience as relates to Residential Construction Management, Repair, Maintenance and Inspection Services (i.e., Builder, General Contractor, Residential Property Inspector, Architect, Structural Engineer, Safety and Code specialists, etc.) - preferred. c. Regional knowledge of local and state building codes, permits and licensing requirements. APPLICATION: All applicants must complete an in-depth application on-line in the jobs section at www.naca.com.

NACA is an equal opportunity employer and strongly encourages minorities and bilingual people, particularly those who speak and write in Spanish to apply.

This job description is solely for descriptive purposes and the responsibilities may change. It does not constitute a contract for employment, and all employment at NACA is at-will.

MUST APPLY ON THE WEBITE: CAREERS | NACA (HTTPS://WWW.NACA.COM/CAREERS/ )

Company Description

The Neighborhood Assistance Corporation of America (“NACA”) is a non-profit, community advocacy and homeownership organization. NACA’s primary goal is to build strong, healthy neighborhoods in urban and rural areas nationwide through affordable homeownership. NACA has made the dream of homeownership a reality for thousands of working people by counseling them honestly and effectively, enabling even those with poor credit to purchase a home or modify their predatory loan with far better terms than those provided even in the prime market. INVESTING IN WORKING PEOPLE The NACA homeownership program is our answer to the huge subprime and predatory lending industry. NACA has conclusively shown that when working people get the benefit of a prime rate loan, they can resolve their financial problems, make their mortgage payments and become prime borrowers. NACA’s track record of helping people who have credit problems become homeowners or modify their predatory loan debunks the myth that high rates and fees are necessary to compensate for their “credit risk.” Started in 1988, NACA has a tremendous track record of successful advocacy against predatory and discriminatory lenders as well as providing the best mortgage program in America with $10 billion in funding commitments. NACA is the largest housing services organization in the country and is rapidly expanding by growing its existing 30+ offices, headquartered in Boston, MA, opening many new offices nationwide, and expanding the services it offers its membership. NACA’s confrontational community organizing and unprecedented mortgage program have set the national standard for assisting low- and moderate-income people to achieve the dream of homeownership.