Construction Loan Specialist II (Hybrid)

First Federal Bank of Kansas City•Leawood, KS

3d•Hybrid

About The Position

First Federal Bank of Kansas City is seeking a Construction Loan Specialist II to assist in all areas of Construction Lending, including processing, closing, loan setups and budgets, draws, draw approvals, payoff quotes and payoffs, releasing, finals and conversions, and daily/monthly reporting and balancing. The incumbent will be responsible for contributing to the daily production of the department in a proactive manner. The bank is a community-oriented, culture-focused, progress-driven organization dedicated to helping people, businesses, and communities build a better financial future. Employees are supported with opportunities for growth, company events, and volunteer work, emphasizing that employee success contributes to customer and community success.

Requirements

High school diploma or general education degree (GED)
One to three years related experience in a financial institution, consisting of setting up and tracking loans.
Minimum required two years in the Construction Loan Department or equivalent Construction loan experience.
Completion of Federal regulations training on an ongoing basis.
Strong attention to detail and ability to read and interpret documents such as operating and maintenance instructions, and procedure manuals.
Excellent communication skills, both written and verbal.
Proficiency in basic mathematics and ability to compute rate, ratio, and percent and to draw and interpret bar graphs.
Strong problem-solving and critical-thinking skills.
Typing speed of 45 WPM and word processing experience.

Responsibilities

Responsible for promotion and delivery of quality internal and external customer service.
Maintains positive communication when answering inquiries on loans in process from branch personnel, buyers, sellers, realtors, title companies and builders.
Complies with all applicable banking laws, bank policies and federal regulations.
Manages/processes draws - facilitate the draw inbox, verify draw sheet to invoices, correct addresses, amounts and companies. Performs draws in accordance with builder requirements, i.e. issue checks directly, direct deposit or wire funds to fund draws. Request for missing items or clarification on incomplete draws, draw overages or errors. Complete all draws in required timeframe.
Requests and maintains all W9's for companies that are paid out funds, for correct end of year IRS reporting.
Completes draw approvals per approved Board Resolution tier based on job title.
Facilitates loan setups in our host system and our construction management system for all Spec/Build, Construction perm and Barndominium loans.
Construction budgets - inputs and balances budget in our construction management system for all Spec/Build, Construction Perm and Bardominium loans.
Payoff Requests/Payoffs/Releasing - Prepares and provides payoff quotes when requested. Performs payoffs in our systems when funds are received. Prepares and records releases on all required paid off loans per requirements.
Reports - pulls monthly construction reports for Management or as needed.
Must be proficient if not mastered one of the following processes: Spec/Build process from start to finish, Processing and Closing for all C/P and Barndominium loans, Finals and Conversion process for all C/P loans.
Spec/Build Process will include but not limited to starting the loans in Encompass, ordering title and appraisals, organizing closing documents in conjunction with title company, preparing closing documents, funding the closing, maintaining the e-folder construction documents per requirements, setting up physical files for storage. All of these functions will be completed per auditing and policy requirements.
Processing/Closing Construction perm and Barndominium Loans will include but not limited to sending disclosures, clearing conditions, ordering appraisals, ordering title work, requesting more information from borrowers, ordering payoffs, updating insurance mortgagee clauses, handling credit issues, ensuring all underwriting conditions are cleared before sending to closing.
Finals/Conversion process will include but not limited to ordering final inspections, preparing final affidavits, holding funds back in escrow/held for completion, working with borrowers and builders to help close out the draw process, balance loan at end for final funding. Conversions completed by required time frame, preparing conversion documents, setting up escrow accounts, OSI maintenance, follow-up for final document returns and moving file to perm storage.
Perform other duties as assigned.