Construction Loan Administrator II

Provident Bank • Woodbridge Township, NJ

111d • $25 - $31

About The Position

The position’s role is responsible for accurately administering a portfolio of construction loans and maintaining a courteous and beneficial liaison between customers, Relationship Managers and other outside professionals. Job performance is evaluated on accuracy, timeliness, productivity and customer satisfaction. The candidate selected will be expected to work independently and will escalate situations as appropriate to Management.

Requirements

• Minimum 5 years’ experience commensurate with job function.
• Extensive knowledge of Construction Mortgage Loan Administration requirements and ability to apply such knowledge.
• Strong verbal, communicative and written skills.
• Ability to manage heavy workflow, resolve problems with modest supervision, attend to detail and perform arithmetic calculations.
• Proficient with Excel and detailed budgets.
• Knowledge of Horizon Loan System helpful but not required.

Nice To Haves

• Bachelor’s degree

Responsibilities

• Prepares and reviews pre-closing documentation for commercial lending and/or commercial real estate construction loans.
• Reviews loan approval documents, construction loan agreements and engineer’s plan & cost report to ensure proper loan administration.
• Responsible for loan set-up including completion of boarding sheets, calculation of required escrows, reserves and prepaid interest, preparation of general ledger debit and credit entries and initiating wire transfers.
• Establishes individual loan templates for each loan with approved budgets, funding criteria, loan allocations and re-allocations; reviews permitted release provisions within the loan documents.
• Maintains loan budget templates on a regular basis reflecting each funding, principal pay down and release consideration payment; follows up for written inspection reports and first lien certificate.
• Oversees project budgets for accuracy, including advances and pay downs that are in accordance with legal documentation to ensure accuracy of all construction loan documentation.
• Reviews inspection reports, Borrower submitted draw requests and maintains and monitors the updated status of the portfolio of construction loans as to accuracy to assure there are no over fundings.
• Reviews with Relationship Manager/PM to coordinate monthly advances with borrower, inspecting engineer and title company.
• Responsible for confirming loan was properly established on the Bank’s system by Loan Operations, creates disbursement files and follows up for any post closing construction related documents.
• Coordinates and funds construction loan advances including participated and syndicated loans.
• Confirms monthly interest payments, insurance and tax payments are all current and in good standing.
• Responsible for confirming that all inspection reports, budgets, title, borrower submissions and all other documents associated with an advance are properly saved to the Bank’s Loan System for each funding provided.
• Responds to customer inquiries.
• Updates department reports, including pipeline reports.

Benefits

• Team members accrue paid time-off (PTO).
• Receive Holiday (PTO).
• Eligible to participate in the bank’s Health and Wellness benefits including Medical, Dental and Vision Plans.
• Flexible and Health Savings Accounts.
• 401(k) Retirement Plan.
• Disability Insurance.
• Employee Assistance Program.
• Basic Life Insurance.
• Company sponsored Tuition Disbursement and Loan Repayment programs.
• Voluntary benefits include Supplemental Life Insurance, Accident, Critical Illness, Hospital Indemnity and Legal plans.

What This Job Offers

• Job Type: Full-time
• Education Level: Bachelor's degree
• Number of Employees: 1,001-5,000 employees