Escrow companies provide neutral third-party services for mortgage companies, landowners, and homebuyers. Custodial assistants handle customer service, office paperwork, and payroll. No strict education or training requirements are necessary, but strong math, communication, and computer skills are preferred. Training lasts one to four weeks, and continuing education can lead to becoming an officer.
Mortgage companies, landowners, and potential homebuyers often choose to conduct business transactions through neutral third parties called escrow companies. Custody officers and their assistants ensure contractual obligations are met, outstanding loans and debts are paid, and property titles are cleared and ready for transfer. A custodial assistant primarily handles customer service functions and basic office paperwork. With the proper training, he or she can negotiate contract terms and create legal documents as well.
When a person decides to buy a new home or invest in another type of property, they can establish a contract by working through an escrow company. An escrow assistant speaks with the new client in person or over the phone, explaining the basics of working with a contract and transferring money. It clears up the sometimes confusing details about legal issues, title transfers, and insurance policies. Once the customer is happy with the terms, the escrow assistant can review the documents with a supervisor and begin working with the seller or mortgage company.
Custodial assistants also perform general office secretarial duties. They answer phones, set appointments with officials, and update electronic client files. Many assistants are also responsible for payroll, scheduling, and other office management work. It is essential for a custodial assistant to be very detailed and organized in order to ensure that day-to-day operations run smoothly and that important documents and contracts can be found when needed.
There are no strict education or training requirements to become a warehouse assistant. Most employers hire high school graduates who are able to demonstrate strong math, communication and computer skills. Some large escrow offices prefer to hire assistants who have completed some college work in a business specialty, such as financial or paralegal studies. Additionally, previous work experience in customer service roles, real estate agencies, or law firms can significantly improve a person’s chances of landing an entry-level job.
New custodial assistants typically spend one to four weeks in training, participating in classroom activities, and accompanying experienced assistants and officers on the job. After several weeks of supervised work, a successful warehouse assistant is given more responsibilities and allowed to work independently. With continuing education and at least one year of experience, an assistant could become an officer at a local custodial office.
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