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PGIM Real Estate Finance (PGIM REF) is one of the nation’s largest full-service commercial real estate lenders. PGIM REF originates a wide variety of commercial mortgage investments for Prudential’s General Account, investment management clients, and other third-party capital sources (such as Fannie Mae, Freddie Mac, FHA, CMBS or other institutional investors).
PGIM REF’s FHA division is seeking a Senior Loan Closer with FHA Construction Loan experience (a plus), also expected to be open to learn to close other Capital Sources as needed including FNMA, FMAC and PGIM’s Bridge Loan Products. This position can be located in any PGIM office, or fully remote depending on experience.
The position is responsible for coordinating the timely and accurate handling of FHA loan closings in accordance with established department and government policies and regulations.
What you can expect
- Interfaces with internal and external parties, including loan originator, underwriter, mortgage broker, borrower, attorney, title company, security broker dealer, government employees, servicing and asset management personnel.
- Manages and communicates transaction timeline to internal and external partners to verify all appropriate deadlines are being met.
- Performs pre- and post-closing functions including managing closing checklist to ensure that closing counsel has received all required documents to review and close the loan. Performs review of draft loan documents prior to initial closing to verify accuracy of terms in documents prior to initial closing and delivery of GNMA security.
- Responsible for preparing loan closing packages for securitization and delivery to investors.
- Transmits loan and pool information to servicing, asset management, accounting, and investor reporting departments.
- Prepares loan settlement statements. Works directly with escrow agent to complete final disbursement procedures.
- Prepares initial draws and reviews funding schedules as necessary for construction transactions.
- Provides approval prior to rate lock.
- Works with servicing and asset management staff to resolve issues and improve processes.
- Updates internal systems to ensure that appropriate internal reporting data reflects current information for the transaction.
- Keeps management and other parties informed of potential problems or delays and makes recommendations.
What you will bring
- A minimum of 3 or more years FHA experience.
- Knowledge of all FHA Loan Programs (including construction programs), Mortgage Loan Documents, Closing Requirements, and applicable Servicing Requirements.
- Excellent written and verbal communication skills.
- Strong organizational skills with the ability to multi-task and work independently in a time sensitive environment where meeting established deadlines are critical.
- Ability to understand and interpret legal contracts.
- Strong interpersonal/customer service skills essential with the ability to create/build and maintain relationships with internal and external parties.
- Personal Computer Skills (Advanced Excel, Access, Word, Microsoft Packages).
- Self-motivation and detail orientation.
- Ability for occasional travel as needed.
Source: Prudential’s Career Page
