Commercial Construction Draw Specialist

About the role

Under general supervision, the Construction Draw Specialist assists in all aspects of processing construction draws for commercial borrowers. The construction draw process includes reviewing advance requests, ordering inspections and reports as appropriate and posting advances to the core system.

Responsibilities

• Reviews submitted draw requests from contractors and/or borrowers, ensuring they align with the project budget, loan agreements, and relevant documentation.
• Communicates with external vendors including third-party inspectors, surveyors, and title companies to gather project data and will input data into the draw monitoring system.
• Updates project completion progress in draw monitoring system in accordance with inspections.
• Communicates with lenders, lending assistants, borrowers, vendors on draw requests, including status updates, discrepancies, or any issues encountered when reviewing requests.
• Confirms that all necessary documentation, such as invoices, lien waivers, and inspection reports are accurate and complete.
• Requests and collects funds from participant and member banks on participated or syndicated loans, including sending rate notices as applicable.
• Verifies that all draw