Construction Loan Administrator

Fulton Bank • Parsippany, NJ

23h • Hybrid

About The Position

This is a full-time, hybrid career opportunity based out of Bridgewater or Parsippany, New Jersey. 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 equivalent experience.
• 8 or more years of experience in Construction Loan Administration with commercial development and construction loans as well as SBA construction loan administration .
• Strong working knowledge of construction administration platforms.

Nice To Haves

• Specialtie: Business Administration or equivalent degree. (Preferred)
• Built Technologies (Preferred)

Responsibilities

• Responsible for the setup of construction loans for both commercial projects and residential development for monitoring within the Commercial Mortgage Administration group.
• Once the setup of a construction loan is complete Specialists are expected to fund construction loan projects at the documented times and percentage of completed construction.
• Specialists will Issue payoff quotes and or release consideration letters for monitored loans and lines.
• Track exception approvals related to construction and development loan advances and releases.
• Scan advance and payoff and release related documents and file electronically for future reference.
• Confer with the Special Assets department on certain loans which may require special handling.
• Research, analyze and resolve problem inquires made by Relationship Managers, and borrowers.
• Recommend improvements to the department’s construction loan monitoring process to supervisor.
• Identify and report to supervisor any deviations from loan policy or loan approval.
• Demonstrate strong judgement in identifying when an isse requires escalation and ensures it is directed to the appropriate party.
• Ability to train others in all functions of the position, but specifically train new hires in Fulton systems, policies and procedures.
• Ability to supervise, when the team leader is not present, the team from time to time.
• Ability to interpret legal documents with little or no help from Due Diligence or Legal, or ability to confer with legal at a technical and legally familiar level.

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 and Employee Stock Purchase Plan
• paid time off programs including holiday pay and paid volunteer time
• disability insurance coverage and maternity and parental leave
• adoption assistance
• educational assistance and a robust wellness program with financial incentives

What This Job Offers

• Job Type: Full-time
• Career Level: Mid Level
• Education Level: Associate degree
• Number of Employees: 501-1,000 employees