Construction Loan Specialist

Responsibilities

• Review loan approval documents, construction loan agreements, Engineer's Plan & Cost Report and any participation agreements to ensure accurate and proper loan administration.
• Cookordination and oversight of all site inspections for loan draws, ensuring timely completion. This includes scheduling inspections and liaising with engineers to confirm inspection dates.
• Establish individual setup in the loan monitoring system, Built, for new loans, including formulating complex budgets and ensuring financial accuracy and compliance throughout the project lifecycle.
• Review inspection reports from engineers to ensure construction projects adhere to approved plans and budgets.
• Verify project progress, assess work quality, ensure compliance with building codes, track expenses against the budget, review change orders, and monitor site safety conditions.
• Address any discrepancies or issues promptly to maintain the integrity of the construction loan process.
• Review draw request documentation with a thorough understanding of AIA construction documents, ensuring the portfolio of construction loans is accurately maintained and monitored to prevent overfunding, with all line items balanced.
• Oversee project budgets for accuracy, including advances and pay downs, ensuring compliance with legal documentation.
• Ensure all taxes, insurance and interest payments are consistently up to date.
• Handle requests for partial paydowns by calculating the paydown amount according to release provisions, processing the payment, and executing the release.
• Collaborate with lenders, Credit, and Loan Servicing to ensure effective administration of construction loans.

Requirements

• Proficiency in Microsoft Office (Word, Excel, Outlook, PowerPoint)
• Exercise sound judgement, and excellent independent decision-making skills
• Excellent verbal and written communication
• Strong organizational and time-management skills to handle multiple projects
• High level of accuracy in reviewing documents and managing financial transactions
• Ability to identify and resolve discrepancies or issues promptly to maintain the integrity of the loan process

Required Experience

• A high school diploma or equivalent and a minimum of 3 years experience in construction lending and all aspects of loans and lending.