Construction Loan Spec II (US)
About The Position
The Construction Loan Specialist II is responsible for the detailed analysis of project budgets, documentation review, and verifying funds for disbursement on loans after closing and during the construction phase. The focus of the construction administration process is to assess compliance with loan documentation and to insure loans are within budget to complete the project. The Construction Loan Administrator processes all residential construction loan draw requests. This position is hybrid and will require an in office presence 4x per week to one of these locations: Jacksonville, FL - Mount Laurel, NJ - Charlotte, NC - Greenville, SC
Requirements
- High School diploma or GED
- 4+ Years of related experience in mortgage operations
- Knowledge of full servicing guidelines as it pertains to escrow, conversion and modifications
- Attention to detail, and the ability to prioritize workload
- Knowledge and understanding of Loan Operations policies and procedures as well as related agency regulations
- Proven computer literacy and proficiency in common PC applications
- Aptitude for analysis, systems and mathematics; strong analytical and administrative abilities
- Ability to multi-task in a high volume environment
- Ability to interact with internal and external Customers in a professional manager to provide excellent Customer service
Nice To Haves
- construction loan experience
- exceptional customer service skills and ability to set clear expectations for our borrowers
Responsibilities
- Initiates financial & collateral transactions based on Customer and General Contractor requests.
- Analyzes and facilitates rate, commitment, collateral changes, loan payments and payoff instructions
- Assists with inquiries, research, problem resolution, helps request payoffs, research payments, process incoming mail.
- Internal and external customer service research payment issues, process incoming mail; Internal and external customer service and contact maintenance, data entry and other tasks as assigned
- Clearly communicates any changes or issues with requests and the need for any additional information to the Borrower and Contractor
- Works with Borrower and Contractor to establish the procedure for the loan advances
- Ensures all required documentation is on file prior to releasing fund.
- Reviews disbursement request against budget in order to ensure loan is not over disbursed
- Orders progress inspections with assigned Appraisal Company within required timeframe
- Reviews draw requests for completeness and integrity of AIA if required, inspection reports, lien waivers, invoice verification
- Analyzes budget and source/ uses of funds to identify exceptions/ changes in conformity to standard monitoring requirements and to verify that the loan remains in balance
- Identifies exceptions and obtains appropriate approvals as necessary
- Initiates and analyzes standard and custom monitoring requirements including title/tax update, insurance, permits, inspections, survey
- Maintains the integrity of data through input verifications of loan system and update of file records
- Provides support and coaching to less experienced quality control personnel
- Analyzes billing statements and GL's associated with customers' accounts
Benefits
- Total Rewards at TD includes base salary and variable compensation/incentive awards (e.g., eligibility for cash and/or equity incentive awards, generally through participation in an incentive plan) and several other key plans such as health and well-being benefits, savings and retirement programs, paid time off (including Vacation PTO, Flex PTO, and Holiday PTO), banking benefits and discounts, career development, and reward and recognition.
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What This Job Offers
Job Type
Full-time
Career Level
Mid Level
Education Level
High school or GED
