PGIM Commercial Real Estate Loan Closer
About The Position
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 is seeking a Commercial Real Estate Loan Closer to assist with coordination of timely and accurate handling of a FNMA/FMAC and/or FHA loan closings in accordance with established department and government policies and regulations. This position can be located in one of PGIM Real Estate’s office locations, including: Arlington, Chicago, Dallas, Atlanta, or Newark.
Requirements
- 3 or more years of FHA and/or FNMA/FMAC closing experience.
- Knowledge of all FHA and/or FNMA/FMAC 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 are 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.
Nice To Haves
- FHA construction loan experience a plus along with the willingness to learn and develop expertise across product types.
Responsibilities
- Interface 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.
- Manage and communicate transaction timelines to internal and external partners to verify all appropriate deadlines are being met.
- Perform 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.
- Perform 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.
- Transmit loan and pool information to servicing, asset management, accounting, and investor reporting departments.
- Prepare loan settlement statements.
- Works directly with escrow agent to complete final disbursement procedures.
- Prepare initial draws and reviews funding schedules as necessary for construction transactions.
- Provide approval prior to rate lock.
- Work with servicing and asset management staff to resolve issues and improve processes.
- Update internal systems to ensure that appropriate internal reporting data reflects current information for the transaction.
- Keep management and other parties informed of potential problems or delays and make recommendations.
Benefits
- Medical, dental, vision, life insurance, disability insurance, Paid Time Off (PTO), and leave of absences, such as parental and military leave.
- 401(k) plan with company match (up to 4%).
- Company-funded pension plan.
- Wellness Programs including up to $1,600 a year for reimbursement of items purchased to support personal wellbeing needs.
- Work/Life Resources to help support topics such as parenting, housing, senior care, finances, pets, legal matters, education, emotional and mental health, and career development.
- Education Benefit to help finance traditional college enrollment toward obtaining an approved degree and many accredited certificate programs.
- Employee Stock Purchase Plan: Shares can be purchased at 85% of the lower of two prices (Beginning or End of the purchase period), after one year of service.
- Discretionary annual incentive program
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What This Job Offers
Job Type
Full-time
Career Level
Mid Level
Education Level
No Education Listed
