Loan Associate I

Major Responsibilities

• Handle complex construction and development loans/draws including reallocating budget line items, reviewing draw invoices, ensuring lien releases/title endorsements, and general ledger reconciliation.
• Initiate timely interest reserve draws and processing payments, balancing interest payments.
• Verify required equity through inspections, invoices, and cancelled checks to ensure it matches the approved budget.
• Ongoing servicing of construction loans for single-family, subdivision, land development, and commercial properties.
• Maintain oversight of lots, release prices, project budgets, loan amounts, and specific loan details, start groups, and subdivisions.
• Work with lenders to reconcile and settle participation loans, demonstrating knowledge of participation loans.
• Reconcile accounts related to participation loans and update general ledgers.
• Interface with title companies regarding lien and endorsement issues.
• Coordinate and perform detailed reviews of inspections and title updates to identify project concerns, cost overruns, and construction status.
• Respond to borrower, participant, service provider, and internal personnel inquiries in a timely, professional manner.
• Manually compute interest payments and update desk procedures as necessary.

Requirements

• 3 or more years of experience with construction finance processes, budget reallocations, and documentations.
• Experience in using various computer systems and applications, or proficiency in banking-related PC applications in a Microsoft Windows environment.
• Successful completion of a credit history check is a condition of reemployment.
• A minimum of a high school diploma or GED, with some college preferred.

Skills

• Detail-oriented with the ability to adjust to possible interruptions and changing business conditions.
• Organized work habits, prioritization of workflow, and ability to complete multiple tasks simultaneously and accurately.
• Strong written and verbal communication skills.
• Good judgment, initiative, and tact in dealing with customers.
• Ability to maintain customer confidentiality and respond effectively to customer inquiries and questions.