PGIM Real Estate - FHA Loan Closer
- Arlington, VA
PGIM Real Estate (PGIM RE) is one of the nation's largest full-service commercial real estate lenders. PGIM RE 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 RE's FHA division is seeking a Loan Closer, specifically with FHA experience. This position will ideally be located in Arlington, VA, but candidates in Dallas, TX, St. Louis, MO, Cleveland, OH or Chicago, IL, will be considered.
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.
Job duties will include:
- Interfaces with internal and external parties, including loan originator, underwriter, mortgage broker, borrower, attorney, title company, security broker dealer, lender counsel, 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 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.
- A minimum of 2 years FHA loan closing experience required
- Knowledge of all FHA Loan Programs (including construction programs), Mortgage Loan Documents, Closing Requirements, and applicable Servicing Requirements.
- 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.
- Proficient in MS Office applications such as Excel, Access, Word and PowerPoint.
- Ability to travel as needed.
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