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We don’t pretend to know you.
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Experience banking the way it should be.
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General Responsibilities:
The Commercial Construction Loan Administrator is responsible for performing a wide range of duties related to the closing and funding of commercial and residential construction loans and the closing and funding of commercial real estate and commercial & industrial loan requests.
This individual will collaborate with the Commercial or Residential Lender or Team Leader on the closing and funding of the described loans.
Essential Duties & Responsibilities:
• Responsible for the analyzing and preparation of Commercial construction draws / disbursement requests and forms required for construction loans.
Upon appropriate approval, responsible for funding the construction draws / disbursement requests and for handling the general inquiries and questions from customers, loan officers, and title companies concerning the construction draws / disbursements including funding availability, obtaining endorsements and approvals.
• Analyzes and reconciles construction budgets in order to evaluate budget variances and estimated cost to complete.
Verifying compliance with loan covenants.
Communicates the results of the analysis to the Credit Administration Manager and Loan Officer.
• Analyze and review Sworn Owner and Contractor Statements, Invoices, and Lien Waivers.
• Review inspecting architect reports and be familiar with plan, specs & cost reviews.
• Review and accept property and builder’s risk insurance from the property owner, and general liability insurance and workman’s compensation insurance (if necessary) from the general contractor for construction loans.
• Serve as liaison between the title companies, inspecting architects, loan officers, borrowers, attorneys, and general contractors.
• Work with loan servicing to issue partial payoff letters on construction projects.
• Documents new commercial loans on Laser Pro System
• Order and review other required documentation for closings including title insurance, flood searches, assembling closing packages for new loans, and other related responsibilities.
• Orders UCC Searches, Good standings on Company’s, Judgment and Tax Lien Searches, Title Commitments, OFAC and Flood Searches.
• Assist in the closing of a loan by setting up closing dates and times.
Submitting the loan package to the Title Company and assuring that the bank receives appropriate documents from Title Company.
Minimum Knowledge, skills and abilities required:
• High School diploma or equivalent
• Minimum of 2-years previous construction loan administration experience within a financial institution
• Working knowledge of construction and mortgage loan concepts.
• Qualitative analytical skills
• Knowledge of MS Suite of Products (Word, Excel, and Outlook)
• Internet skills
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