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Construction Loan Admin - Residential Mortgage

Valley Bank • Full-time • Wayne, New Jersey, United States • 2d ago

Responsibilities include but are not limited to:

Reviews construction loan documents; analyzes and administers construction disbursements.
Works in partnership with loan officers and the loan operations team as the primary contact between borrowers, builders, attorneys, appraisers and title company representatives from the loan's inception until the project has been completed.
Participates in the pre-closing processes with loan officers and the construction loan officer to ensure all documentation requirements are identified before approval and closing.
Performs construction draw analysis and reconciliation to provide the Construction Loan Officer with an accurate disbursement request for processing.
Takes action on items affecting the disbursement process, including locating inspectors, builder change orders, sufficiency of funds, liens and restricted starts etc.
Ability to teach / instruct borrowers and builders the disbursement process.
Monitors construction loan documentation in files. Performs (expiration date analysis) for construction loan maturities, Florida notice of commencements, builders' risk insurance, flood insurance, contractor liability insurance, contractor's license and building permits.
Assists the Construction Loan Officer with executing loan modifications including special projects related to streamlining construction loan workflow, procedures and systems.
Administers the construction portfolio in accordance with credit policy requirements for risk management.
Provides quality service to all team members and external clients.
Follows all Bank policies and procedures, compliance regulations, and completes required training.

Qualifications

Required Skills:

Proficiency with personal computers and related software packages such as MS Office (Excel, Word - Outlook) and Encompass.
Knowledge of construction lending and American Institute of Architects (AIA) forms G702 - G703.
Advanced analytical, problem-solving skills, including loan administration experience with knowledge of construction lending.
Ability to deal with complex problems involving multiple facets and variables in non-standardized situations.

Required Experience:

High School Diploma or GED and a minimum of 3 years' experience in construction lending and all aspects of loans and lending.
Must be registered with the federal Nationwide Mortgage Licensing System - Registry (NMLSR) as required by the S.A.F.E. Act.
Associates Degree preferred.
Experience working with builders preferred.
Related licenses or certifications preferred.