Construction Loan Administrator and Closer

NewPoint Real Estate Capital LLC•Chevy Chase, MD

About The Position

The Construction Loan Administrator and Closer provides construction risk management services and ensures loans financed by NewPoint Real Estate Capital are closed in compliance with relevant regulations and company procedures.

Requirements

Degree in Business, related field, or equivalent experience
Experience closing Tax Exempt Bond/LIHTC construction loans
Minimum 10 years in multifamily real estate loan servicing, and specifically some experience with construction loan servicing.
Strong knowledge of multifamily real estate documentation, loan products, servicing principles for affordable and construction real estate loans
Proficient at reviewing and analyzing loan documents
Strong communications, analytical, and customer service skills
Attention to detail and ability to evaluate situations and work independently to develop a solution
Must be able to prioritize and manage multiple duties and tasks and take initiative
Must have an eye for detail and an ability to excel in a fast paced, document sensitive, time-sensitive environment with frequent interruptions
Must be proficient with excel and word and adapt to and learn new software easily

Responsibilities

Manage the documentation and closing of affordable multifamily real estate construction loans
Control the integrity and risk of construction loans within the portfolio by working with borrowers, investors, contractors, architects, and title companies.
Assist with engaging, managing and directing external counsel to prepare loan documents.
Assist with coordinating loan closings with all parties involved within target closing time frames as required by department, business, transaction, borrower, and investor.
Coordinate internally with underwriting, accounting, servicing, asset management and the MD on new loan setup, funding requirements, setting up covenants, etc.
Ensure loan closing submission packages comply with applicable internal guidelines, external regulations, and investor requirements.
Ensure all fees are properly accounted for and collected at closing.
Confirm all loan paperwork is handled in compliance with Company procedures and relevant regulations.
Responsible for transmittal of loan information to Servicing to support accurate servicing of the loan.
Assist MD with other duties as assigned.
Review and ensure monthly draw packages are complete.
Recommending and authorizing the release of funds for monthly draws and maintaining relationships with all parties involved in project development.
Monitor the construction, expenditure of funds and quality of project.
After the loan is closed, initiate, process and distribute monthly construction reports and construction interest statements.
Maintain construction loan status in department’s loan tracking system.
Maintain files for internal and third-party review and audits.
Keep abreast of current developments and market trends to better service construction loans.