Construction Loan Administration Specialist

Republic Bank•Louisville, KY

8h•Hybrid

About The Position

The Construction Loan Admin Specialist is responsible for monitoring residential and commercial construction projects up to $3MM for the purpose of making draw disbursements. Applicants must be authorized to work for any employer in the U.S. We are unable to sponsor or take over sponsorship of an employment Visa at this time.

Requirements

Minimum of 2 years’ previous Commercial Banking experience required.
Demonstrated proficiency in Microsoft Word and Excel required.

Nice To Haves

Minimum of 2 years’ previous construction administrative experience preferred.

Responsibilities

Set up new draw files and determine the appropriate method of monitoring the projects Sources & Uses.
Conduct pre-construction conferences with borrower, GC, contractors and loan team to discuss disbursement process.
Review detailed construction cost sheet values for completeness and reasonableness based on the intended/proposed project.
Upon confirmation plans, specs, and budgets are the most current versions provide approval to the appraisal group to order the “subject to” appraisal.
Evaluate construction draws including borrower equity injection, change orders, soft costs, lien waivers, invoices, etc.
Order construction progress inspections and calculate draw amounts based on inspector’s site observations.
Coordinate with title company for date down endorsements as applicable.
Process construction draws upon approval by Team Lead or Manager.
Where applicable, ensure projects are monitored in adherence to SBA and state requirements.
Review and track construction diligence and make recommendations on the appropriate risk mitigations needed.
Build and maintain relationships with owners, builders, contractors, engineers, architects, and appraisers to ensure project is completed as intended and within the scope of the construction budget.
Maintain accurate and up-to-date construction budget monitoring draw tracking records.
Maintain accurate and up-to-date construction data in the Construction Project System.
Keep detailed account records of any updates/delays to construction progress and alert management as needed.
In collaboration with the Processing Team ensure files are processed within SLA expectations.
Review pre-closing loan documentation to ensure documentation accuracy.
Monitor all insurance renewals to ensure real estate is covered within the bank’s minimum coverage limits.
Process new Builder/Contractor Qualification Statements in accordance with procedures and submit for approval to be added to RB&T’s Builder Approval List.
Make recommendations that enhance departmental procedures.
Resolve mechanic lien or other title related issues as they arise.
Facilitate the process of taking a construction loan to the permanent phase.
Maintain a working knowledge of compliance requirements affecting your position and area of responsibilities and actively learn new regulations and assist in the implementation, if required.
Model and foster behaviors that support the Bank’s values and corporate culture creating an atmosphere of trust, cooperation, accountability, and dedication to the organization.
Willingly perform all other duties and projects as assigned.