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 lending division is a leading provider of FHA-insured commercial mortgages on multi-family and health care properties, specializing in working with the U.S. Department of Housing and Development (HUD) on providing a wide variety of financing options for multifamily and elderly care facilities throughout the United States. Financing includes but is not limited to new construction, refinances, and acquisitions of properties which may include market rate rental properties or affordable properties with a mix of subsidies (Section 8, Tax Credits, Bonds, Grants).
PGIM REF is seeking an Underwriter for its FHA lending platform, a leading provider of FHA-insured commercial mortgages for healthcare properties.
The candidate will manage the underwriting process and provide thorough analyses of healthcare applications in conformance with FHA/LEAN program requirements and sound underwriting standards resulting in FHA commitments and closed loans. The candidate may provide technical guidance and oversight to more junior staff.
Specific duties include, but are not limited to:
• Maintain accountability for all aspects of FHA submissions submitted by him/her and on behalf of PGIM.
• Managing transaction timelines and identifying threshold issues that may impact application outcome.
• Preparing underwriting narratives and HUD underwriting forms for submission to PGIM REF Loan Committee and, if approved, to FHA.
• Communicating effectively with Originators, the Chief or Deputy Chief Underwriter, other internal clients and FHA regarding transaction status and issues.
• Directing the due diligence collection by junior staff and overseeing the compilation of all applications submitted to FHA.
• Responsibility for autonomous credit decisions on loans.
• Providing training for and mentoring junior staff.
• Participating in the selection and engagement of third party reports. Critically reviewing reports for conformance with FHA and Prudential requirements and negotiate adjustments as directed/necessary.
• Conducting site visits.
• Expanding depth of knowledge by learning specialty loan types of increasing complexity.
• Communicating with applicable HUD staff regarding timing of approval, any deficiencies, etc.
• Reviewing HUD firm commitments for conditions impacting closing. Preparing appeals and negotiating resolutions with HUD and borrower team.
• Coordinating the loan closing process.
• Managing data integrity in proprietary loan tracking database.
• Attending applicable HUD, external, or internal training as directed by management.
• FHA LEAN certification is required for this position.
• Ability to analyze and successfully implement solutions to a wide range of potential underwriting and compliance considerations, utilizing excellent interpersonal and negotiation skills.
• Excellent analytical and math skills.
• Candidate should be creative, flexible, proactive and team-oriented with strong customer service, communication and negotiating skills.
• Strong organizational skills with the ability to manage multiple assignments and priorities.
• Strong teamwork and partnering skills with the ability to effectively manage the expectations of multiple internal and external constituents.
• Ability to effectively work independently and demonstrate strong partnering skills within a team environment.
• Ability to travel as needed.
Prudential is a multinational financial services leader with operations in the United States, Asia, Europe, and Latin America. Leveraging its heritage of life insurance and asset management expertise, Prudential is focused on helping individual and institutional customers grow and protect their wealth. The company's well-known Rock symbol is an icon of strength, stability, expertise and innovation that has stood the test of time. Prudential's businesses offer a variety of products and services, including life insurance, annuities, retirement-related services, mutual funds, asset management, and real estate services.
We recognize that our strength and success are directly linked to the quality and skills of our diverse associates. We are proud to be a place where talented people who want to make a difference can grow as professionals, leaders, and as individuals. Visit www.prudential.com to learn more about our values, our history and our brand.
Prudential is an equal opportunity employer. All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, genetics, disability, age, veteran status, or any other characteristic protected by law.
Note that this posting is intended for individual applicants. Search firms or agencies should email Staffing at email@example.com for more information about doing business with Prudential.
Job Function Underwriting
Primary Location United States-Illinois-Chicago
Other Locations United States-Montana-Virtual, United States-Rhode Island-Virtual, United States-New Mexico-Virtual, United States-New York-Virtual, United States-Washington-Virtual, United States-Kansas-Virtual, United States-District of Columbia-Virtual, United States-Hawaii-Virtual, United States-North Carolina-Virtual, United States-Tennessee-Virtual, United States-Minnesota-Virtual, United States-Missouri-Virtual, United States-South Carolina-Virtual, United States-New Hampshire-Virtual, United States-Delaware-Virtual, United States-South Dakota-Virtual, United States-Florida-Virtual, United States-Idaho-Virtual, United States-Michigan-Virtual, United States-Colorado-Virtual, United States-Maryland-Virtual, United States-Utah-Virtual, United States-Maine-Virtual, United States-Nebraska-Virtual, United States-Massachusetts-Virtual, United States-Arkansas-Virtual, United States-Vermont-Virtual, United States-New Jersey-Virtual, United States-Virginia-Virtual, United States-West Virginia-Virtual, United States-Ohio-Virtual, United States-Connecticut-Virtual, United States-Pennsylvania-Virtual, United States-Mississippi-Virtual, United States-Oklahoma-Virtual, United States-Wisconsin-Virtual, United States-Georgia-Virtual, United States-Oregon-Virtual, United States-Nevada-Virtual, United States-Indiana-Virtual, United States-Kentucky-Virtual, United States-Texas-Virtual, United States-North Dakota-Virtual, United States-Wyoming-Virtual, United States-Alaska-Virtual, United States-Louisiana-Virtual, United States-Iowa-Virtual, United States-California-Virtual, United States-Alabama-Virtual, United States-Illinois-Virtual, United States-Arizona-Virtual