Responsible for the closing of HUD/FHA multifamily loans. Leads with the decision making process and determines whether due diligence items satisfy lender requirements and the eventual buyer of the loan or security backed by the loan. Responsible for determining and ensuring that all requirements of loan funding, loan closing and delivery have been met prior to authorizing loan closing. Packages and delivers post loan funding purchase of the Company’s Ginnie Mae securities.
ESSENTIAL DUTIES AND RESPONSIBILITIES
Coordinates, establishes and distributes the Company's and HUD/FHA requirements for closing, funding and securitizing HUD/FHA loans to internal and external parties as appropriate. Ensures loans meet established requirements prior to loan funding.
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 to review and approve due diligence items presented by the borrower and other parties.
Reviews and analyzes support documentation and due diligence items; has final approval authority for loan settlement statements and loan closing documents.
Coordinates loan closing document preparation with counsel; approves all documentation and due diligence items presented by the borrower and other parties for compliance with the requirements of the Company, HUD/FHA, and investor.
Approves and coordinates loan funding with the company’s warehouse lender and investor.
Prepares and/or approves pool and loan delivery packages and information to warehouse lender and investor and to internal departments including servicing, asset management, accounting, investor reporting departments.
Tracks progress of each loan in the closing phase and keeps Management Team and others informed of any delays or significant issues. May act as the Company's representative in the execution of loan documents.
Other duties as assigned.