Mortgage Loan Closer

Company Overview:

A premier private lender in the nation, Asset Based Lending, LLC (ABL) has established itself as a leader in hard money lending since 2010. Headquartered in New Jersey, ABL provides fast bridge financing to real estate investors for property acquisition, renovation, or new construction, as well as DSCR rental loans for long-term investors.

Mission Statement:
• Deliver high-quality loans
• Provide exceptional service
• Promote firm stability
• Foster future growth
Job Summary:

The Loan Closer plays a vital role in the loan origination process, ensuring timely and accurate completion of loan documentation. This requires attention to detail, strong organizational skills, and the ability to work efficiently under pressure.

Key Responsibilities: • Loan Documentation Review: Thoroughly review loan documents, including promissory notes and deeds of trust, to ensure accuracy and compliance with lending policies and regulations. • Borrower Coordination: Communicate with borrowers, title companies, and attorneys to gather missing or corrected documents and address outstanding issues. • Escrow Management: Oversee the escrow process, ensuring all necessary funds are in place, and coordinate with the escrow agent to facilitate a smooth closing. • Title Search and Insurance: Verify title search results and obtain appropriate title insurance. • Closing Disclosure Preparation: Prepare and review Closing Disclosure documents, ensuring accuracy in loan terms, fees, and financial information. • HUD-1 Settlement Statement: Prepare and review the HUD-1 Settlement Statement to summarize the transaction's financial aspects. • Funding Coordination: Collaborate with the funding team to ensure all required funds are available and ready for disbursement. • Final Review: Conduct a final review of all loan documents to confirm conditions have been met and the loan is ready for funding. • Loan Funding: Coordinate the release of loan funds to borrowers, sellers, and service providers in accordance with closing instructions. • Record Keeping: Maintain accurate records of loan closing activities, ensuring compliance with record retention policies.

Requirements: • High school diploma or equivalent; Bachelor's degree preferred. • Previous experience in loan closing or real estate transaction coordination highly desirable. • Strong understanding of hard money lending practices and regulations. • Excellent attention to detail and organizational skills. • Proficiency in using loan origination software and related tools. • Knowledge of relevant federal and state lending regulations. • Strong communication and interpersonal skills. • Ability to work effectively in a fast-paced environment.

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