Construction Loan Administrator
In Office Orlando or Tampa, FL Remote Florida Summary: Responsible for preparing and handling the documentation necessary to service complex residential construction loans, commercial construction loans, multifamily projects, and related land development loans during the construction phase. This role ensures timely and accurate disbursement of loan funds (draws) based on verified project progress, mitigates lenders' risk, maintains compliance with loan agreements, and supports project completion while protecting the bank’s interests. The position involves close coordination with borrowers, contractors, inspectors, title companies, and internal teams (e.g., Relationship Managers, Underwriters, and Legal).
Job Functions: - Administer a mixed portfolio of residential, commercial, multifamily, and land development construction loans. Process loan advances/draws, reductions, interest payments, and payoffs.
- Review and analyze construction draw requests, including AIA G702/G703 forms, invoices, contracts, change orders, and supporting documentation. Verify work completion and budget adherence before approving disbursements.
- Set up and maintain loan-specific monitoring tools, such as a construction system with detailed draw schedules, budgets, and progress tracking for complex projects.
- Coordinate and review third-party site inspections, title bringdown/updates, appraisals, environmental reports, and other due diligence items to confirm project milestones are met.
- Interpret and ensure compliance with commercial and residential loan agreements, covenants, insurance requirements, and regulatory guidelines.
- Monitor projects budgets, timelines, costs, and risks. Identify potential issues (delays, overruns, or deviations) and recommend mitigation strategies or funding decisions in collaboration with Relationship Managers.
- Maintain accurate loan files, records, and servicing systems. Tracking insurance, liens, and encumbrances, and prepare payoff quotes or maturity reports as needed.
- Collaborate with origination teams pre- and post-closing to establish monitoring processes, budgets, and funding authorizations. Assist with loan setup, modifications, extensions, and conversions to permanent financing.
- Serve as a liaison with borrowers, contractors, inspectors, title companies, attorneys, and third-party disbursement agents. Respond promptly to inquiries and provide excellent customer service.
- Prepare reports for management, participate in portfolio reviews, and support audits or quality control processes.
- Handle administration of participation loans and backup other team members as required.
- Perform additional duties such as reviewing lien waivers and ensuring proper perfection of collateral.
- Assist in assuring a well-organized and efficient construction loan department.
- Handle incoming customer calls as needed, determine needs and take ownership until the solution is achieved.
- Review loan documentation prior to closing to ensure accuracy, completeness, and compliance with approved terms, underwriting conditions, and regulatory requirements.
- Review and approve all funds being disbursed at closing, verifying that disbursements align with loan agreements, budgets, and approved uses of proceeds.
- Monitor post-closing agreements and ensure documents are received by the allotted timeframe.
Position Requirements: - High School diploma or equivalent.
- Minimum 5 years’ experience in construction loan administration, commercial real estate lending, or related banking roles.
- Hands-on experience with construction draws processing, project monitoring, and AIA documentation for both commercial and residential projects is strongly preferred.
- Knowledge of commercial construction (e.g., multifamily, office, retail) and residential construction (e.g., single-family homes, custom builds) is essential.
- Ability to read and interpret loan documents and to respond effectively to sensitive inquiries or complaints.
Key Qualifications: - Excellent analytical, organizational, and problem-solving abilities with high attention to detail.
- Strong verbal and written communication skills.
- Attention to detail and adherence to policies and procedures.
- Ability to manage multiple priorities, meet deadlines, and work independently or in a team environment.
- Maintain effective working relationships with both internal and external clients.
- Strong knowledge of Microsoft products such as Excel, PowerPoint, Word, and Outlook.
- Knowledgeable in financial institution operating policies and procedures and banking regulations, state and federal.
- Sound judgement in risk assessment and decision-making
|
