What are the responsibilities and job description for the Collateral Administration Specialist position at MidFirst Bank - Default?
This position is responsible for construction loan administrative functions including preparing funding documents, ordering title endorsements, obtaining required approvals, submitting advances and initiating wires and deposits for funding. Additional responsibilities include processing payments to vendors, auditing completed loan advances, onboarding new loans, and maintaining reporting for an assigned portfolio of loans. Assistance with ad hoc projects may also be required.
Position Responsibilities:
- Coordinates the administrative functions related to residential and commercial construction loan draws including:
- Preparing funding documents
- Obtaining required approvals
- Ordering title endorsements,
- Submitting advanced to loan servicing
- Originated wires
- Confirming funding completion
- Maintain daily Construction Draw Log reports which are utilized in Management Reporting
- Ensures completed draws include all necessary documentation and are saved to proper file locations for auditing purposes
- Processes payments to third party vendors
- Completes project folder setup including gathering necessary documents from various locations and contacting title agencies
- Periodically complete special assignments as needed
Position Requirements:
- Previous banking and construction real estate loan administration or lending experience is strongly preferred.
- Applicants must possess strong oral and written communication skills, be proficient in Microsoft Word and Excel, and have the ability to work in a team environment to be successful
- Time management and critical thinking skills are also crucial