Mortgage Loan Closer

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.