Construction Loan Admin - Residential Mortgage

Valley Bank•Wayne, NJ

16h

About The Position

This role is responsible for reviewing construction loan documents, analyzing and administering construction disbursements. The Construction Loan Admin will partner with loan officers and the loan operations team, serving as the primary contact for borrowers, builders, attorneys, appraisers, and title company representatives from loan inception to project completion. This includes participating in pre-closing processes to ensure all documentation requirements are met before approval and closing, performing construction draw analysis and reconciliation, and taking action on items affecting the disbursement process such as inspector coordination, change orders, fund sufficiency, liens, and restricted starts. The role also involves teaching borrowers and builders the disbursement process, monitoring construction loan documentation, performing expiration date analysis for various loan components, and assisting the Construction Loan Officer with loan modifications and special projects to improve workflow, procedures, and systems. Additionally, the position administers the construction portfolio in compliance with credit policy for risk management, provides quality service, and adheres to all Bank policies, procedures, and compliance regulations.

Requirements

Proficiency with personal computers and related software packages such as MS Office (Excel, Word - Outlook) and Encompass.
Knowledge of construction lending and American Institute of Architects (AIA) forms G702 - G703.
Advanced analytical, problem-solving skills, including loan administration experience with knowledge of construction lending.
Ability to deal with complex problems involving multiple facets and variables in non-standardized situations.
High School Diploma or GED and a minimum of 3 years' experience in construction lending and all aspects of loans and lending.
Must be registered with the federal Nationwide Mortgage Licensing System - Registry (NMLSR) as required by the S.A.F.E. Act.

Nice To Haves

Associates Degree preferred.
Experience working with builders preferred.
Related licenses or certifications preferred.

Responsibilities

Reviews construction loan documents; analyzes and administers construction disbursements.
Works in partnership with loan officers and the loan operations team as the primary contact between borrowers, builders, attorneys, appraisers and title company representatives from the loan's inception until the project has been completed.
Participates in the pre-closing processes with loan officers and the construction loan officer to ensure all documentation requirements are identified before approval and closing.
Performs construction draw analysis and reconciliation to provide the Construction Loan Officer with an accurate disbursement request for processing.
Takes action on items affecting the disbursement process, including locating inspectors, builder change orders, sufficiency of funds, liens and restricted starts etc.
Ability to teach / instruct borrowers and builders the disbursement process.
Monitors construction loan documentation in files. Performs (expiration date analysis) for construction loan maturities, Florida notice of commencements, builders' risk insurance, flood insurance, contractor liability insurance, contractor's license and building permits.
Assists the Construction Loan Officer with executing loan modifications including special projects related to streamlining construction loan workflow, procedures and systems.
Administers the construction portfolio in accordance with credit policy requirements for risk management.
Provides quality service to all team members and external clients.
Follows all Bank policies and procedures, compliance regulations, and completes required training.