Post-Closing Operations Coordinator

2 weeks ago


Columbia, Missouri, United States Flat Branch Home Loans Inc Full time
Job Overview

Position Summary:

A Post-Closing Operations Coordinator is responsible for overseeing the workflow of post-closing and secondary marketing functions. This role involves managing relationships with investors and ensuring the timely sale of mortgage loans. The coordinator collaborates with internal servicing teams for loans retained for servicing and works closely with sales personnel, underwriters, processors, and shippers to gather necessary documentation for loan delivery and servicing.

This position is suited for entry-level or intermediate professionals who may have limited experience in the field. A Post-Closing Operations Coordinator will learn to address problems of limited complexity and engage in developmental tasks that are initially routine and require minimal judgment.

Key Responsibilities:

  • Monitor loan statuses submitted to investors to facilitate timely purchases.
  • Track commitments with Fannie Mae and Freddie Mac to ensure prompt acquisition.
  • Handle loan suspense correspondence from investors.
  • Collaborate with the closing department and underwriting teams to meet investor conditions prior to loan purchases.
  • Prepare daily reports on loan suspension statuses for management review.
  • Retrieve purchase advices from investors and distribute them to relevant parties.
  • Generate notifications to borrowers regarding Seller/Servicer Transfers.
  • Transfer Flood Certificates, Insurance, and FHA Holdings for loans sold to investors.
  • Complete MIN Transfers in MERS once loans are acquired by investors.
  • Prepare loan data for servicing system integration and assist with data discrepancies.
  • Facilitate Ginnie Pool Processing, including collateral release tracking and certification shipments.
  • Respond to USDA information requests for obtaining LNG.
  • Acquire LNG documentation for USDA loans and LGC documentation for VA loans.
  • Enter loan-level HMDA reporting information for compliance purposes.
  • Review and process Trailing Documents for delivery to investors or document custodians.
  • Monitor reports for outstanding trailing documents and coordinate with relevant parties.
  • Address deficiencies in final trailing documents as identified by investors.
  • Prepare and deliver document packages to third-party auditors.
  • Process incoming Hazard Insurance correspondence and follow up as necessary.
  • Maintain knowledge of systems supporting loan closing, shipping, delivery, and purchase.
  • Foster strong working relationships with internal and external stakeholders, including Mortgage Loan Originators and external vendors.
  • Stay informed about investor requirements and the loan origination system.
  • Assist team members during peak volumes and staff absences.
  • Exhibit a willingness to take on additional responsibilities as needed.

Qualifications:

  • High school diploma or equivalent required.
  • Proficient in computer skills, including Microsoft Office and Internet Browsers.
  • Ability to operate standard office equipment.
  • Knowledge of modern office practices, grammar, and record-keeping methods.
  • Good judgment and ability to handle confidential information.
  • Strong communication skills, both written and verbal.
  • Ability to plan, prioritize, and complete work efficiently.
  • Ability to interpret and follow various instructions and solve problems.
  • Regular and punctual attendance is essential.
  • Flexibility to work under pressure and manage overtime as needed.
  • Prolonged periods of sitting and computer work are expected.

Preferred Skills:

  • Minimum of 2 years of experience in banking or mortgage industries preferred.
  • Experience in exception clearing or processing and closing is advantageous.
  • Familiarity with loan origination and closing documents, particularly in a paperless environment.
  • Knowledge of loan origination systems, such as Encompass, is preferred.
  • Understanding the importance of strong working relationships in achieving success.
  • Aspirations for career growth within the mortgage industry are encouraged.


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