PGIM Real Estate -Senior FHA Loan Closer (Finance)

Job Classification:

Investment Management - Investments

A GLOBAL FIRM WITH A DIVERSE & INCLUSIVE CULTURE

As the Global Asset Management business of Prudential, we're always looking for ways to improve financial services. We're passionate about making a meaningful impact - touching the lives of millions and solving financial challenges in an ever-changing world.

We also believe talent is key to achieving our vision and are intentional about building a culture on respect and collaboration. When you join PGIM, you'll unlock a motivating and impactful career – all while growing your skills and advancing your profession at one of the world's leading global asset managers! 

If you're not afraid to think differently and challenge the status quo, come and be a part of a dedicated team that's investing in your future by shaping tomorrow today.

At PGIM, You Can!

What you will do

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.

PGIM welcomes all applicants, even if you don't meet every requirement. If your skills align with the role, we encourage you to apply.

Note: Prudential is required by state specific laws to include the salary range for this role when hiring a resident in applicable locations. The salary range for this role is from $125,000 to $150,000. Specific pricing for the role may vary within the above range based on many factors including geographic location, candidate experience, and skills.

About PGIM Real Estate

With $207.9 billion in gross assets under management and administration ($133.8 billion net),1 PGIM Real Estate provides investors and borrowers access to a range of real estate equity, real estate debt, agriculture, and impact solutions across the risk-return spectrum.

PGIM Real Estate is a business of PGIM, the global asset management business of Prudential Financial, Inc. (NYSE: PRU). PGIM Real Estate's risk management approach, execution capabilities and industry insights are backed by a 50-year legacy of investing in commercial real estate, a 140-year history of real estate financing,2 and the local experience of professionals in 32 cities globally. Through its investment, financing, asset management, and talent management approach, PGIM Real Estate engages in practices that strive to ignite positive environmental and social impact, while pursuing activities that seek to strengthen communities around the world. For more information visit pgimrealestate.com.

What we offer you:

• Market competitive base salaries, with a yearly bonus potential at every level. 

• 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. 

Eligibility to participate in a discretionary annual incentive program is subject to the rules governing the program, whereby an award, if any, depends on various factors including, without limitation, individual and organizational performance. To find out more about our Total Rewards package, visit Work Life Balance | Prudential Careers. Some of the above benefits may not apply to part-time employees scheduled to work less than 20 hours per week.