Construction Loan Admin (Remote)

About the Role

This position involves hands-on processing for the timely and accurate administration and servicing of construction loans. Responsibilities include budget and change order tracking, enforcement of retainage requirements, collection and verification of required documentation, receipt of title continuations, and funding advances after credit approval. Projects may include ground-up construction, renovation, capital expenditures, leasing commissions, tenant improvements, and other transactions requiring third-party inspections.

The role covers a diverse portfolio, including direct loans, SBA 7A and 504 loans, purchased loans, sold loans, and syndicated loans. Knowledge of state Lien Law requirements is preferred for adherence to legal requirements during the administration and servicing process.

Responsibilities

• Administer and service construction/renovation-related loans, acting as a liaison between the borrower, third-party inspection firm, and internal Credit Department.
• Receive and coordinate advance requests from borrowers, including scheduling inspections when required.
• Compile and review advance packages for accuracy and adherence to requirements, including:
  • AIA G702 and G703 forms (when required), ensuring balances match previous requests and change orders are within allowable limits or approved by Credit.
  • Budgets, ensuring line items are balanced and disbursement backup is valid and allowable.
  • Retainage, ensuring compliance with loan agreements and original credit approvals.
  • Contingency, tracking reallocations and remaining percentages.
  • Inspection reports, validating alignment with backup and consistency with estimated completion dates.
  • Lien waivers, collecting required waivers for each advance without duplication.
  • Equity, ensuring borrower equity is utilized as required by Credit and loan documents.
  • Insurance, monitoring reports to ensure compliance with approved requirements.
  • Credit approval, compiling and submitting packages for Credit Department review.
  • Title, requesting and reviewing continuations, escalating exceptions to Credit.
• For sold loans, coordinate with participant banks by sending notices, sharing inspection reports, and ensuring receipt of funds prior to borrower funding. Ensure loans are balanced and percentages are correct in the system.
• For SBA loans, apply knowledge of federal rules and regulations, review initial documentation for Plan & Cost Review, and ensure construction covenants are included in the Loan Agreement.
• Submit approved funding packages to the Commercial Loan Servicing team and perform post-advance reviews for posting and funding accuracy.
• Coordinate with the Commercial Loan Administration team to upload approval packages and inspection reports to a shared document repository.
• Upon project completion, work with the Credit Department and Loan Closing Team to collect appropriate insurance, update loan system statuses, and track codes.
• Service capital expenditure and tenant improvement transactions, including tracking requests, managing borrowing conditions, and ensuring required documentation (e.g., leases, rent rolls) is received and satisfactory.
• Schedule inspections with property managers and review title continuations, escalating exceptions to Credit.
• Monitor projects and loans for issues such as lack of advances for 30+ days or projects behind schedule, and escalate to Credit as needed.
• Participate in monthly meetings with management and business partners to discuss the construction portfolio and specific projects.
• Ensure annual construction administration fees are paid on time and insurance requirements are met for each loan.
• Perform testing for new vendors, system changes, and upgrades.
• Proactively escalate potential material issues to management.
• Maintain thorough knowledge of bank policies and comply with applicable federal and state laws, including anti-money laundering regulations (e.g., Bank Secrecy Act, US PATRIOT Act).
• Identify and report suspicious activity.

Requirements

• Associate's Degree from a two-year college or technical school, or equivalent work experience.
• 1-3 years of related experience in investor reporting, accounting, syndicated loans, construction loans, or loan administration (including documentation and closing).
• 1-3 years of SBA construction-related experience preferred.

Skills

• Ability to work independently in a fast-paced environment (average pipeline of 30-40 projects in pre-closing and disbursing status).
• Experience with complex projects, including small CRE renovations, PIPs, and leasehold improvements (under $350K).
• Proficiency with Loan Origination Systems (LOS).
• Knowledge of AIA documentation (e.g., G702, G703).
• Current understanding of SBA, conventional, and USDA loan program requirements.
• Strong accounting skills.

Additional Information

Candidates residing within BankUnited's footprint may be given preference.