Construction Loan Draw Specialist

Responsibilities

• Maintains construction draw pipeline for residential homebuilders and/or commercial construction loans.
• Performs general maintenance on loan accounts and ensures supporting documentation is uploaded into the monitoring system.
• Inputs budgets and schedules in draw monitoring system according to loan approval and supporting construction documents.
• Orders and reviews inspection reports, including final inspections, and surveys; ensures that project inspections are in line with draw request.
• Updates project completion progress in draw monitoring system in accordance to inspections.
• Reviews draw requests and borrowing base requirements to ensure appropriate approvals are secured and internal requirements are met.
• Verifies availability of funds prior to release.
• Reviews loan for outstanding past due payments.
• Ensures draw funds are held until past dues are resolved.
• Prepares loan advances and wires for completing construction draws.
• Communicates with lenders, lending assistants, borrowers, vendors, and other lending stakeholders on draw requests, including status updates, discrepancies, or any issues encountered when reviewing requests.
• Engages appropriate party to resolve discrepancies.
• Makes sure exceptions on draw requests are cleared and coordinated with lending staff and borrower.
• Maintains key loan account data such as down date endorsement requirements and construction loan binder extensions; documents data changes within the draw monitoring system.
• Tracks borrower equity injection reports to ensure project is in line with loan approval guidelines/requirements.
• Generates reports related to draw pipeline and provides to loan operations management.

Qualifications

• High School diploma, general education degree (GED), or equivalent required.
• Minimum 2 years of lending/loan administration experience. Strong preference for previous experience with construction draw servicing or related construction industry experience.
• Knowledge of construction disbursement servicing system a plus.
• Excellent PC skills, including word processing and spreadsheets via Microsoft Office products as well as custom applications and systems.
• Excellent verbal, written and interpersonal communication skills.
• Excellent analytical, time management, organizational and problem-solving skills with the ability to multi-task and produce error-free work in a deadline-driven environment.
• Self-motivated with strong attention to detail and accountability.