Who We Are:
Based in New Jersey and established in 2010, Asset Based Lending, LLC (“ABL”) is one of the nation’s leading Hard Money Lenders. We provide fast bridge financing to real estate investors for the purchase, renovation, or new construction of single family, multi-family and mixed-use properties as well as DSCR rental loans for long term investors. We have closed thousands of loans since we began lending fourteen years ago, producing more than $2B in originations. ABL was acquired by a private equity firm in 2021, and with a renewed focus on growth, we’ve set our sights on consistent evolution and cementing our place as the premier private lender in the country.
Our Mission is Simple:
- Make Good Loans
- Provide Exceptional Service, Every Time
- Protect The Firm
- Build The Future
Position Summary:
As a Loan Closer you will be responsible for the final stages of loan origination, ensuring that all documentation is complete, accurate, and compliant with regulatory requirements. This role requires a keen eye for detail, strong organizational skills, and the ability to work efficiently under tight deadlines. You will play a crucial role in facilitating the funding of Bridge and DSCR loans and maintaining a smooth closing process.
Key Responsibilities:
- Loan Documentation Review: Thoroughly review loan documents, including promissory notes, deeds of trust, and other required paperwork, to ensure accuracy and compliance with lending policies and regulations.
- Coordination with Borrowers: Communicate with borrowers, title companies, and attorneys to gather any missing or corrected documents and address any outstanding issues.
- Escrow Management: Oversee the escrow process, ensuring that all necessary funds are in place, and coordinate with the escrow agent to facilitate a timely and smooth closing.
- Title Search and Insurance: Verify the results of title searches and ensure that appropriate title insurance is obtained.
- 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 financial aspects of the real estate transaction.
- Funding Coordination: Collaborate with the funding team to ensure that all required funds are available and ready for disbursement.
- Final Review: Conduct a final review of all loan documents to confirm that all conditions have been met and that the loan is ready for funding.
- Loan Funding: Coordinate the release of loan funds to the appropriate parties, including 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.
Qualifications:
- High school diploma or equivalent; Bachelor's degree preferred.
- Previous experience in loan closing or real estate transaction coordination is 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, deadline-driven environment.
Working Conditions:
- This role primarily operates in an office environment.
- May require occasional overtime to meet closing deadlines.
- Regular communication with borrowers, title companies, attorneys, and other stakeholders.
The Loan Closer is a critical role in ensuring the successful closing of hard money loans and the fulfillment of contractual obligations. If you are a detail-oriented professional with a strong understanding of lending processes and a commitment to excellence, we invite you to apply and become part of our dedicated team.