QC Loan Servicing and Construction Loan Administrator

Summary:

The QC Loan Servicing and Construction Loan Administrator ensures accurate, compliant, and timely processing of closed loan files and oversees all construction loan administration functions. This includes quality control of mortgage, consumer, HELOC, second mortgage, and construction loans, as well as managing construction draws, lien waivers, sworn statements, and required title endorsements. The role supports process improvement initiatives, including the development of AI-driven servicing and post-closing procedures.

Key Responsibilities:

Loan Servicing Quality Control

• Review closed loan files for completeness, accuracy, and regulatory compliance.
• Verify loan data and ensure proper recording of mortgages, modifications, and assignments.
• Track and obtain final title policies, insurance certificates, and recorded documents.
• Maintain follow-up on all mortgage recordings, HELOCs, and second mortgage filings.
• Clear post-closing and trailing documentation conditions.
• Ensure accurate loan setup in the core system.
• Support audits, investor reviews, and compliance examinations.
• Assist in improving QC procedures and implementing AI-enhanced processes.
• Other tasks as assigned.

Construction Loan Administration

• Manage construction loan draw requests, ensuring proper documentation and approvals.
• Communicate with title companies to obtain endorsements and process sworn statements and lien waivers.
• Review budgets, inspections, and progress documentation.
• Process disbursements accurately and in accordance with bank policy.
• Maintain compliance with IRS 1099 regulations:
• Payments to borrower: No 1099 required.
• Payments to contractor: 1099 required unless contractor is a corporation.
• Bank Policy: Obtain a completed W-9 before issuing any contractor payment, unless one is already on file.
• Payments to title companies: 1099 only if not incorporated (rare).
• Joint borrower/contractor checks: 1099 issued to contractor.
• Maintain detailed records of all construction draws and related documents.

Consumer Loan Administration

• Interviews potential or current customers applying for consumer loans and explains the different financing and loan programs the bank has to offer.
• Analyzes the customer's financial position to determine if the applicant meets minimum loan criteria.
• Collects data from customers, such as their assets, salaries, debts and employment status
• Verifies the information provided on applications to obtain more information if missing data or mistakes are present.
• Verifies information about applicant history with credit bureaus and other agencies so the lender can approve or deny the loan

Supervisory Responsibilities:

No Supervisory Responsibilities

Qualifications:

• Strong understanding of loan servicing, post-closing, and construction loan processes.
• Knowledge of lien waivers, sworn statements, title endorsements, and draw procedures.
• Excellent organizational skills and attention to detail.
• Strong communication, analytical, and problem-solving abilities.
• Ability to work accurately under deadlines in a fast-paced environment.
• Proficiency with LOS, core banking systems, and imaging platforms.
• Ability to interpret IRS 1099 regulations and apply them correctly.

Education and/or Experience:

• High school diploma required; Associate’s degree preferred.
• Minimum of 4 years in loan servicing, construction loan administration, post-closing, underwriting, or mortgage loan originating.
• Strong understanding of loan documentation, compliance, and investor requirements.
• Proficient in loan origination and servicing systems, as well as document imaging software recommended.

Certificates, Licenses, Registrations:

NMLS

Work Environment:

General office working conditions exist. Employee may experience sustained moderate/high periods of activity with multiple tasks being performed. They may experience communication with a variety of internal and external sources under favorable and unfavorable conditions. Noise level in the work environment is usually minimal.