Post Closing Coordinator

Tomo

Tomo

Operations
Seattle, WA, USA
Posted on Friday, April 5, 2024

About Tomo

We believe everyone deserves a home—and at Tomo, our mission is to make homeownership a reality for everyone. We’re changing the way that people discover their dream home and tour it. And we’re helping prospective homebuyers determine what they can afford, make a winning offer, and ultimately, purchase their dream home with a Tomo mortgage.

Job Description

As a Post Closing Coordinator, you will play a crucial role in swiftly delivering closed loans to Investors. The loans delivered must meet investor guidelines at first pass as a result of your ability to integrate package requirements from various stakeholders including Tomo team members and third parties (e.g. settlement agents, MERS, warehouse banks, interim servicing etc.).

You will:

  • Review and verify closed loan packages to ensure that the loans are accurate, complete and compliant and in alignment with industry guidelines
  • Deliver appropriate post close paperwork to warehouse lending partners
  • Communicate with and task Mortgage Loan Officers, Processors, Closers, Settlement Agents and other counter-parties to obtain missing information and documentation for the closed loan package prior to investor delivery
  • Responsible to communicate effectively with Loan Officers, Processor’s and Closers when tasked to contact the Customer in relation to identified suspense items
  • Swiftly resolve any suspense items identified by the investor
  • Stack and image loan packages to industry and investor standards
  • Meet shipping expiration deadlines; coordinate with Secondary Marketing if an expiration date cannot be met prior to commitment expiration date
  • Register/transfer mortgages in the MERS system
  • Run UCDs
  • Review and reconciliation of purchase advice details in Tomo systems
  • Manage a pipeline to get collaterals from title to deliver to warehouse banks
  • Collect analytics and data on (1) prior to delivery lender suspense items and (2) post delivery investor suspense items
  • Contribute to continuous improvement of the current post-closing process and ability to identify patterns and processes that may improve upstream business practices
  • Ensure files are compliant and regulator review/exam ready before archiving the file
  • Ensure any initial payments are collected on the loan when a payment is due in advance of investor loan purchase and subsequent servicing transfer
  • Generate Loan Boarding and Transfer reports from LOS and upload to Willow system for “Welcome and “Good-bye" letters

You’ll need:

  • High School diploma or equivalency degree
  • 2+ years of related experience
  • Experience with high volume data entry/validation
  • Knowledge of mortgage banking industry and loan delivery concepts
  • Understanding of investor, agency, state and federal requirements for loan delivery
  • Demonstrated skill in monitoring and overseeing loan production pipeline
  • Demonstrated experience researching information, problem solving, and making solid business decisions
  • Experience working in a fast paced and changing environment
  • Experience reporting, analyzing, interpreting, and critical thinking
  • Experience of fostering relationships within Tomo and with 3rd Parties
  • Strong attention to detail, written and oral communication, multi-tasking, and working in a team atmosphere adhering to deadline
  • Ability to work from the local office in Seattle, WA

You might also have:

  • Bachelor’s degree
The expected annual compensation for this position will be between
$47,000$55,000 USD