What are the responsibilities and job description for the Rehab Escrow Coordinator position at NEIGHBORHOOD ASSISTANCE CORP. OF AMERICA?
REHAB ESCROW FACILITATOR
COMPENSATION: $45,000 - $60,000.
FLSA: Non-Exempt
LOCATION: San Antonio, TX
CONTACT: jobs@naca.com
BENEFITS: Comprehensive package: single/family health, vision, dental, 401(k) and more
WEBSITE: www.naca.com
REHAB ESCROW FACILITATOR
The Rehab Escrow Facilitator (“REF”) works in NACA’s Home and Neighborhood Development (HAND) Department located in San Antonio, Texas working primary with low-to-moderate income homebuyers and revitalizing communities nationwide. The REF is responsible for the processing and management of Rehab Escrow transactions and are the Members primary point of contact after the loan closes and until all work is successfully completed. Rehab Escrow funds are held by the lender to be disbursed for completed work for specified scope of work and rehab budget.
The REF works directly with Members providing oversight and guidance throughout the Rehab Escrow process. S/he collaborates with the Members, contractor(s), draw inspectors and the lender to document work progress, process draw requests and inspections, authorize payment disbursements, manage rehab escrow balances, project ledgers, and close outs. S/he communicates with the Members and their approved contractor(s), educating Members, vendors, and others about HAND’s post close Rehab Escrow processes and policies. The REF works in a timely and effective manner ensuring department goals and metrics are being met as set by NACA management. S/he ensures compliance with the escrow agreements and project timelines. If Members fail to meet program requirements or timelines, the REF implements default actions as defined in the rehab agreements.
CORE JOB RESPONSIBILITIES:
The REF oversees a pipeline of 75 closed rehab Members. S/he must contact many Members daily conducting multiple reviews, confirming funds with the lender, preparing or updating ledgers, reviewing draw inspections, collecting signed project forms, authorizing payment disbursements, clearing lender conditions, reconciling funds resulting from project change orders and eventual escrow close out requests. The REF works directly with the lender’s construction lending team maintaining regular reporting of all open accounts, setting up new vendors, providing supporting documentation of all project work and addressing aged account reviews.
The responsibilities include, but are not limited, to specific responsibilities described below.
- Rehab Escrow Confirmation and Account Set Up
- Prepare and Maintain Project Ledgers.
- Project Inspections - Assign Project Inspector and Facilitate Regular Inspections
- Review and Process Draw Inspections - Determine payment authorization based on the percentage of work complete with deduction for holdbacks and verified material purchases.
- Authorize Disbursements - Determine the agreed upon amount to release to contractor for partial or full and final payment.
- Collect and Maintain Accurate Records of Project Documents
- Vender Set-Up - Confirm that license, insurance and W9 are current and submitted to Lender for future payment disbursements.
- Lien Waivers - Receive and confirm accurate lien waiver in amount of payment release for partial or final payments.
- Payment Verification - Accurate accounting of monies applied to each contract agreement supporting total amount of funds due contractor at completion of work.
- Accounting Ledger – Maintain accurate and detailed ledger of the Rehab Escrow balance for all approved contractors, including contingency amounts, until the scope of work is completed, and the escrow account is closed.
- Project Disputes - Work with management and legal department regarding project disputes.
- Process Change Order Requests
- Facilitation Default Notices and Actions
- Schedule Project Meetings
- Close Out Projects
- Review of Open accounts – Conduct bi-weekly review of open accounts and contact Member when a project becomes inactive.
- Education - Members are informed of and prepared for the rehab process from inspection to post close project and payment management. Also provide such information to vendors, NACA staff, R.E. Agents, and others about HAND policies and procedures.
- Support Vendors
- Maintain Accurate Project Reports – Obtain regular project updates until project complete.
- Project Complete – Complete rehab projects within contract agreement dates but not to exceed six (6) months from the closing date or 12 months with management exception due to extenuating circumstances.
- Aged Reports – Provide reports including Aged Account Report on status on all aged files over six months old, status report and others as requested.
Office Standards & General Requirements:
- Maintain NACA customer service standards, working in positive professional manner at all times.
- Answer phone calls promptly and professionally, returning all voicemails the same day but no later than next business day.
- Conduct daily appointments in prompt and professional manner as scheduled, documenting all communications and task requirements within the Member's file narrative per appointment policies.
- Inform and prepare Members for the HAND rehab process from the point Members are assigned, until the rehab escrow account is closed.
- Provide ongoing vendor support, document processing and file updating of all ongoing communications.
- Work closely with HAND Management to support Members, vendors, office, and program requirements.
- Provide completed detailed narratives within NACA-Lynx system.
- Confirm and complete all scheduled appointments.
- Follow-up with Members, Vendors, Lender, NACA staff and others.
- Additional duties may be required such as evaluation reports, repair waiver requests, work write ups, re-inspections and seller invoice review, and any other duties.
TIME DEMANDS
The REF must be able to meet the demands of the job that consists of 40 to 50 hours per week with overtime as required and approved. Typical working hours are 8:30 a.m. to 6:00 p.m. Monday through Friday. Based on performance, volume and workload, weekend and evening work may be required to complete tasks ensuring project timetables are met. NACA reserves the right to modify work hours by changing hours, shifts, and/or requiring weekend work. Such modifications may occur on short notice including during an existing shift. Travel may be required as determined by management but not common.
COMPENSATION
The compensation is based on experience, skills, performance, and certifications. The annual salary is between $40,000 and $50,000 with overtime with total annual compensation between $45,000 to $60,000. The candidate’s performance evaluation and future compensation is largely based on meeting the job responsibilities, competencies and skills stated herein.
This is a non-exempt position, with eligibility for overtime pay for hours worked over 40 in a work week. The fixed weekly salary covers all hours worked each week even though the hours may vary from week to week. Overtime is computed based on the fluctuating work week (“FWW”) method, subject to any local law requirements.
- Fixed Weekly Salary for All Hours Worked: The fixed salary is intended to compensate for all hours worked during the work week regardless of variations in the hours.
- Overtime: For all hours worked over 40 in a work week, payment will be additional overtime compensation. When overtime is owed, it will be computed by dividing the weekly salary by the number of hours worked that week, to determine the “Regular Rate” for the week. Additional overtime pay will then be calculated and paid by taking half of the Regular Rate and applying it to all hours worked over 40 in the week.
- Accurate Timekeeping Required: You must accurately record and timely submit all hours worked each day and each workweek.
- No Guarantee of Hours: NACA does not guarantee any minimum or maximum number of hours. The fixed salary is compensation for the total hours worked each work week regardless of the number of hours.
WORKING CONDITIONS
This position includes:
- A fast-paced work environment.
- Frequent interaction with Members, staff, community partners, and lenders.
- Occasional evening and weekend work.
- Extended work hours during events or advocacy campaigns.
- Office based position with low physical demand, with constant computer use.
MISSION COMMITMENT
NACA employees are expected to actively support the organization's mission of expanding affordable homeownership, addressing housing inequities and systemic racism, reducing the racial wealth disparity gap, stabilizing neighborhoods, and advocating for economic justice. NACA requires staff to adhere to and participate in NACA’s advocacy, campaigns, events, outreach, community organizing, actions, voter registration, and other activities as determined by NACA. This is also important for NACA’s continued success and in expanding NACA’s purchase and other programs. NACA staff have a tremendous impact on the Members and communities they serve.
KNOWLEDGE, SKILLS & ABILITIES
NACA seeks staff with a positive and open attitude, a strong work ethic and relentless commitment to success with attention to detail and ability to meet aggressive deadlines and ambitious goals. S/he is expected to have a high level of core competencies and skills as stated below and described in detail at www.naca.com.
- Commitment to NACA's mission of economic justice and neighborhood stabilization.
- Strong analytical skills with ability to review complex financial documentation.
- Excellent time management skills with ability to meet the metrics, daily production requirements, and department goals set by management while maintaining high quality standards.
- Strong communication skills, written, verbal and listening, with ability to clearly explain complex requirements and provide comprehensive professional narratives.
- Strong computer literacy with proficiency with technology platforms including Microsoft Office, NACA’s Members Portal, and documentation management systems.
- Understanding of and commitment to fair housing principles and NACA's approach to overcoming systemic barriers to homeownership.
- Ability to maintain a high degree of accuracy in obtaining information and data entry.
- Ability to work in a demanding environment with regular interruptions.
- Strong work ethics.
- Excellent interpersonal, communication and critical thinking skills
- Effective problem solving skills, with capacity to analyze and resolve identified challenges in a timely professional manner.
- Exercise discretion in handling of personal matters and sensitive financial information.
- Flexible and willing to perform multiple tasks.
- Highly organized with great attention to detail
- Self-motivated and resourceful with ability to work independently.
EDUCATION, CERTIFICATIONS & LICENSES:
- High School Graduate or Equivalency – Required
- B.A. or B.S. in Business Administration or Accounting, Finance or Residential Construction Related Fields – Preferred
- License(s) or Certification(s) in one or more residential repair trade services – Preferred.
While licenses are not required, professional trade licensing provides important knowledge and credentials. NACA encourages the HAND Coordinator to have one or more professional trade licenses or certifications. NACA may provide assistance to facilitate the education and exam process and pay the costs of obtaining and maintaining a license so long as he/she complies with all applicable licensing deadlines and requirements.
- Accounting or Business Administrative courses and training - Preferred.
- Mortgage and/or real estate courses - Preferred.
EXPERIENCE & SKILLS:
- Five years or more in business accounting or bookkeeping, including banking, processing, and/or pipeline management.
- Field experience as relates to residential construction management, repair, maintenance, and inspection services (i.e., builder, general contractor, residential property inspector, architect, structural engineer, safety, and code specialists, etc.) - preferred.
- Regional knowledge of local and state building codes, permits and licensing - Preferred.
- Multifamily property management, real estate brokerage experience, and/or knowledge - Preferred.
- Ability to write and speak languages other than English, particularly Spanish, is a plus.
APPLICATION PROCESS
Applicants must complete the application at www.naca.com.
NACA is an equal opportunity employer. Minority and bilingual individuals, particularly those who speak and write in Spanish, as well as second chance applicants are strongly encouraged to apply. To follow-up and for inquiries regarding this and other positions contact NACA's HR Department at jobs@naca.com.
This job description is solely for descriptive purposes to describe the general nature and level of work performed by employees assigned to this position. It is not intended to be an exhaustive list of all responsibilities, duties, or qualifications. NACA reserves the right to modify or assign additional duties, and to make unilateral changes in its sole discretion. This job description does not constitute a contract for employment with employment at NACA on an “at-will” basis.
ABOUT NACA (www.naca.com)
NACA is the largest and most effective non-profit homeownership and advocacy organization in the country. NACA is one of the most exciting homeownership and advocacy organization that is both respected and feared for its effective operations and aggressive advocacy over four decades. Founded in 1988, NACA has won campaigns against some of the country’s most powerful companies and individuals engaged in predatory and discriminatory lending. NACA’s success is a result of its relentless confrontational advocacy as well as state-of-the-art systems and operations. NACA is well positioned for the future with more than $20 billion from major lenders, of which $15 billion is from Bank of America, to fund its extraordinary mortgage.
NACA is rapidly growing with 50 offices nationwide and more than three million Members. NACA stands out in the following areas:
- NACA has revolutionized mortgage lending with its character-based housing counseling and mortgage programs, not based on traditional risk-based pricing or credit scores;
- Provides the best mortgage in America: No down payment, no closing costs, no fees, no mortgage insurance, at a below market fixed rate without consideration of one’s credit score;
- Largest and most effective HUD approved counseling organization providing from 20% to 30% of the nation’s housing counseling;
- In the forefront in the fight against abusive and discriminatory lending practices;
- Saved more than 500,000 homeowners with an unaffordable mortgage from foreclosure during the mortgage crisis;
- High-profile organization whose affordable mortgage programs and community advocacy are frequently featured in the national, international, and local media.
- Growing its existing offices, adding new offices nationwide, expanding its operations and hiring additional managers;
- Harnessing its power in the fight for economic justice and affordable homeownership for all.
For more information about NACA and its history and programs, visit www.naca.com.
Benefits:
Health Insurance, Vacation & Paid Time Off, Paid HolidaysSalary : $40,000 - $60,000