Commercial Construction Administration Specialist

Fulton Bank • Rockaway, NJ

115d • $24 - $40

About The Position

This is a hybrid role with some possible work from home post-training. The role will sit in our Rockaway or Bridgewater, NJ locations. Responsible for the administration of certain real estate secured commercial mortgage credit facilities, including but not limited to reviewing and preparing loan advances, monitoring builder lines, development loans and specialized construction loans, issuing release consideration letters or payoff quotes and collateral releases for those loans, collateral tracking, and processing loan payments.

Requirements

• Associate Degree or the equivalent experience in Business Administration or equivalent degree.
• 3 or more years Commercial Construction/Mortgage Administration or Equivalent.
• 5 or more years Commercial real estate lending for development and construction loans.

Nice To Haves

• Paralegal Certification.

Responsibilities

• Responsible for the setup of construction loans for both commercial projects and Residential development for monitoring within the Commercial Mortgage Administration Specialist group.
• Collecting, reviewing and analyzing loan documentation such as construction loan agreements for special terms, title insurance for advance limitations, and other documents like flood determinations and building permits.
• Performing an initial loan advance into a customer’s account or a wire transfer, and working with the relationship managers to verify a reconciliation schedule for inspection reporting.
• Funding construction loan projects at the documented times and percentage of completed construction.
• Verifying loan system availability and analyzing availability with Commercial Mortgage Administration Specialist tracking systems.
• Preparing daily account and General Ledger transactions which may include interest reserves, payments, and tickets for processing.
• Monitoring loan budgets, change orders, housing starts, project costs, etc.
• Identifying when exception approval and appropriate documentation is required for funding.
• Conferring with Due Diligence Officer or Legal in reviewing title insurance binders, commitments, policies.
• Ordering property inspections from approved property inspectors as needed for advances.
• Issuing payoff quotes and or release consideration letters for monitored loans and lines.
• Maintaining a master sheet of payoff instructions for all loans monitored.
• Reviewing collateral releases for accuracy and obtaining appropriate signatures and notarizing releases.
• Tracking exception approvals related to construction and development loan advances and releases.
• Scanning advance and payoff and release related documents and filing electronically for future reference.
• Researching, analyzing and resolving problem inquiries made by Relationship Managers, loan assistants and borrowers.
• Handling routine office duties such as typing, filing, scanning, faxing and answering telephones.
• Recommending improvements to the department’s construction loan monitoring process to supervisor.
• Identifying and reporting to supervisor any deviations from loan policy or loan approval.
• Maintaining and monitoring the Commercial Real Estate Database in Access.

Benefits

• Medical plans with prescription drug coverage.
• Flexible spending account or health savings account depending on the medical plan chosen.
• Dental and vision insurance.
• Life insurance.
• 401(k) program with employer match.
• Employee Stock Purchase Plan.
• Paid time off programs including holiday pay and paid volunteer time.
• Disability insurance coverage.
• Maternity and parental leave.
• Adoption assistance.
• Educational assistance.
• Robust wellness program with financial incentives.

What This Job Offers

• Job Type: Full-time
• Career Level: Mid Level
• Education Level: Associate degree