Mortgage Loan Closer

Tomo; New York (NY); Hybrid; USD 60,000 - 65,000; Full time

Benefits offered by this job

Equity Ownership

Comprehensive Medical, Dental, and Vision plans

Generous paid time off policy

Paid parental leave

401(k) retirement plan

Job summary

Tomo, based in New York, is looking for a Mortgage Loan Closer to oversee the accuracy of loan closing documents and ensure compliance with federal and state regulations. Candidates should have 3+ years in mortgage closing, attention to detail, and strong organizational skills.

The role offers a competitive salary between $60,000 to $65,000 with potential total earnings of $75,000 to $80,000, along with equity ownership and comprehensive benefits.

Qualifications

• 3+ years of recent mortgage closing/funding experience.
• Attention to detail and organizational skills are crucial.
• Stay updated on all relevant policies and procedures.

Responsibilities

• Review pre-closing documents for accuracy.
• Input closing data into the loan origination system.
• Conduct compliance reviews for federal/state regulations.
• Prepare the Initial Closing Disclosure.
• Coordinate loan closing with the title company.

Skills

Mortgage closing/funding experience

Attention to detail

Organizational skills

Knowledge of federal and state policies

Transparency in teamwork

Education

Bachelor's degree

Job description

Who We Are

Tomo is a digital mortgage company on a mission to eliminate the greed and complexity in lending, helping homebuyers save thousands of dollars. Our AI-driven customer experience makes the lending process faster, less frustrating, and more affordable. By passing these savings directly to homebuyers, we eliminate excessive fees and inflated rates that cost Americans billions each year. Backed by top-tier venture investors, including Ribbit, Citi Ventures, NFX and Progressive Insurance, Tomo is poised to become one of the most valuable fintech startups of our generation.

Mortgage Loan Closer

Location: New York, NY

Reports To: Closing Manager

Type: Full-Time; Hybrid (in office Mon-Wed, remote Thurs-Friday)

What You'll Do:

• Thoroughly review all pre-closing documents to ensure accuracy of information, including fees, rates, property details, and vesting, before document preparation.
• Input required closing data in the loan origination system
• Review Compliance Ease reports and remediate any fails or alerts
• Check title report for correct endorsements and approved items, and to verify that Borrower and property are correct
• Conduct compliance reviews of Loan Estimates, TILA, and fraud tools, ensuring the loan complies with federal and state rules.
• Prepare and issue the Initial Closing Disclosure.
• Coordinate loan closing with title company
• Draw and release closing documents to the Settlement Agent
• Submit request to warehouse bank and release funds
• Authorize funding of loan
• Assist in resolving any post-closing issues as needed

What Makes You a Great Fit:

• 3+ years of recent mortgage closing/funding experience
• Attention to detail and organizational skills
• Staying current on federal, state, investor and internal policies and procedures
• Maintaining transparency between all teammates involved in a customer’s journey

Preferred Qualifications:

• A Bachelor’s degree

Compensation

The expected base salary range for this position will be $60,000 - 65,000 USD, with additional uncapped monthly bonus opportunities targeting approximately 15% of the base salary, with total On-Target Earnings for this role being ~$75,000-80,000

Employee Benefits

We strive to anticipate your needs in order for you to be a healthy, motivated, and happy team member. We provide a variety of competitive benefits including (but not limited to):

• Equity Ownership: All teammates receive stock options—we win together
• Comprehensive Medical, Dental, and Vision plans for you and your dependents with some plans 100% covered
• Work-life balance and a generous paid time off policy
• In order to support teammates who become parents, Tomo Mortgage provides paid parental leave
• 401(k) retirement plan