Commercial Loan Operations Construction Specialist Sr

Location: Troy, MI 48098

About the Role

The Commercial Loan Operations Construction Specialist Sr provides advanced operational support to Commercial Real Estate or the Homebuilder Finance Groups, focusing on the servicing of complex residential and commercial construction and development loans. This role ensures accuracy and timeliness in all draw, funding, and collateral activities while offering subject matter expertise and process leadership. The senior specialist works closely with internal stakeholders and external partners to drive efficiency, mitigate risk, and support large-scale projects from pre-close through project completion.

Responsibilities

• Lead the servicing of complex and high-value construction and development loans, ensuring accurate closing, funding loans, disbursement of draws, and tracking of budgets.
• Ensure flood certificates are ordered and/or reviewed to determine if property is in the flood zone and, if applicable, coordinate with borrower to retrieve flood insurance.
• Partner with the internal flood team for approval to close.
• Review credit approval, loan agreement, and promissory note to ensure construction loans meet the approved requirements.
• Coordinate with clients, attorneys, relationship managers/project managers, and title companies to ensure loans are closed accurately and within a timely manner.
• Review and approve prefunding and final funding packages provided by Commercial Loan Operation Construction Specialist for home builder finance loans.
• Coordinate between CLO Construction Specialist, Portfolio Manager, and credit to assure matured units or loans comply with extend dates in Loan Momentum by creating new terms or expressions.
• Review and interpret detailed construction loan documentation, including agreements, title reports, budgets, and lien releases.
• Coordinate with relationship managers or project managers, credit officers, and title companies to facilitate smooth project funding and risk mitigation.
• For home builder finance loans, order appraisals and ensure the appraised values are in line with the borrower’s cost.
• Serve as an escalation point for draw issues, budget overruns, or documentation discrepancies.
• Maintain accurate system records for construction loans, including commitments, interest reserves, and project milestones.
• Ensure compliance with internal policy and regulatory guidelines related to construction lending and draw funding.
• Train and mentor junior team members and review draw packages or system entries for accuracy and adherence to loan terms.
• Participate in audits, exams, and internal reviews by providing subject matter expertise and complete, organized documentation.
• Identify and implement process improvements or controls to enhance draw processing, monitoring, and client servicing.
• Partner with IT, Risk, and Operations leadership to support enhancements to systems or procedures related to construction loan servicing.
• Use independent judgement and discretion to make decisions; analyze and resolve problems.
• Where applicable, approve and transfer new loans added in Loan Momentum; maintain any revisions/corrections in Loan Momentum; create new locales in Loan Momentum.
• Where applicable, circulate daily to CLO Construction Specialist reconciliation and daily delinquent report to assure items are cleared by month end.
• Perform special projects and additional duties and responsibilities as required.
• Consistently adhere to regulatory and compliance policies and standards linked to the job as listed and complete required compliance trainings.
• Maintain compliance with applicable federal, state, and local laws and regulations.

Requirements

• High School diploma or equivalent (GED, HiSET, TASC) / Foreign Equivalent; or equivalent combination of education and experience.
• Minimum 4+ years of experience in a large commercial bank or related financial institution.

Qualifications

• Deep understanding of draw processes, title insurance requirements, construction budgets, and loan documentation.
• Demonstrated ability to manage complex transactions and work with high-profile clients or large portfolios.
• Proficient in Microsoft Excel and Word.
• Excellent organizational, analytical, and communication skills.
• Strong interpersonal and communication skills, with a team-first mindset.
• Ability to build and maintain effective relationships with stakeholders by communicating clearly, engaging in proactive collaboration, and leveraging cross-functional insights.
• Aligns relationship-building efforts with enterprise goals to accelerate performance and drive strategic results.
• Builds trusted client relationships, whether internal or external, by identifying needs and delivering tailored solutions to enhance the overall client experience.
• Fosters or supports a positive work culture and productive work environment, displaying the importance of effective relationships with customers and stakeholders.
• Ability to review and interpret loan documents and translate terms into accurate system entries.

Preferred: Undergraduate Degree (4 years or equivalent) in Business, Finance, Accounting, or related field.

Physical Demands

The job requires significant physical exertion and stamina such as repeated bending, reaching, climbing, or moderate and frequent lifting.

Pay

Pay Range: $66,660.00 - $96,253.00

Benefits

Flagstar provides teammates access to a variety of benefits including medical, dental, vision, life, and disability insurance, as well as a comprehensive leave program. Detailed information.