PGIM Commercial Real Estate Loan Processor (Hybrid)

PGIM • Newark, NJ

1d • $70,000 - $85,000 • Hybrid

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). The PGIM Real Estate Multifamily Agency Finance group is seeking an experienced Commercial Real Estate Loan Processor for its FHA lending platform. The position requires a very organized, detail-oriented candidate with excellent written and verbal communication skills. Position involves collecting and processing information for loans pursuant to the guidelines required by FHA. Familiarity and prior experience in support of FHA lending is required. Experience with Fannie Mae and Freddie Mac multifamily and other commercial mortgage loan programs would be considered a plus. The role can be located in proximity to PGIM’s major offices including Chicago, New York, Newark, Dallas, Atlanta, and Arlington, VA. Fully remote candidates may also be considered based on relevant experience and demonstrated ability to work within a comparable structure.

Requirements

• Previous commercial real estate experience and/or prior experience in a FHA Loan Processor role.
• Excellent verbal and written communication skills.
• Strong attention to detail.
• Superior organizational skills, including the ability to follow-up as needed.
• Ability to multi-task and manage multiple transactions simultaneously.
• Familiarity with Excel and other MS applications.
• Relevant work experience in the mortgage business.

Nice To Haves

• Experience with Fannie Mae and Freddie Mac multifamily and other commercial mortgage loan programs would be considered a plus.

Responsibilities

• Serve as the primary contact with borrowers for administrative needs and data collection.
• Coordinate the delivery of due diligence materials to third party report providers.
• Utilize PGIM systems to manage and document the loan process throughout the life cycle of the loan.
• Provide support to the underwriting team and keep relevant parties including originators, closing officers, borrowers, legal counsel, and vendors informed of loan progress and status.
• Manage the receipt of necessary documentation during the loan process including maintaining a due diligence checklist and facilitating communication with PGIM Real Estate deal team members.
• Review due diligence materials for accuracy.
• Engage third party consultants and ensure timely receipt of the reports.
• Complete the initial review of credit reports, public record searches, judgments, etc.
• Assist with scheduling and preparation for Loan Committee meetings.
• Track all expenses for transaction and pay invoices.
• Manage and finalize all credit files.
• Assist in preparing, organizing, and delivering all necessary final documentation for delivery to FHA or other relevant Agencies.
• Manage full FHA MAP and LEAN-compliant application process, including exhibit tracking submission readiness, and final submission to HUD
• Support and/or develop expertise to support Fannie Mae or Freddie Mac processing work if business volume warrants.
• Participate in projects or business assignments on an ad hoc basis.

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

What This Job Offers

• Job Type: Full-time
• Career Level: Mid Level
• Education Level: No Education Listed