Construction Perm Loan Coordinator

VyStar Credit Union•Jacksonville, FL

About The Position

At VyStar, we offer competitive pay, an excellent benefit package that includes a 401(k) Plan, an extensive paid technical and on-the-job training program, and tuition reimbursement--available to all full and part time employees. Part time positions start at a minimum of 30 hours per week. We encourage you to become a part of VyStar Credit Union's family of employees. Construction Perm Loan Coordinator ACCOUNTABILITY STATEMENT The Construction Perm Loan Coordinator supports a variety of functions within the residential construction perm lending process, from review of construction related documents at loan origination through modification of loan to perm financing. The incumbent should possess knowledge across the construction perm lending space to successfully administer construction loans within assigned portfolio and ensure loan performs in accordance with established guidelines, VyStar Policies and procedures to include State and Federal guidelines. ESSENTIAL JOB FUNCTIONS The Construction Perm Loan Coordinator is responsible for analyzing construction disbursement requests and administering disbursements throughout the duration of the construction phase. Serves as primary point of contact for general inquiries from members, builders, inspectors, loan originators and title companies concerning construction inspections and disbursements, including funding availability, obtaining approvals and required documentation before releasing funds. Oversees the inspection process and submission of invoices for payments. Maintains tracking to validate receipt of member documentation, ensuring appropriate release documents are received during each disbursement. Ensures disbursements are completed timely in accordance with the established guidelines. Communicates frequently with members and builders to ensure projects are progressing according to the specified timing gates detailed in the construction agreement between VyStar, builder and members alike. Monitors monthly interest payments to ensure loans are current and payments are posting correctly before future draws are released to minimize risk to VyStar. Monitors and updates hazard and liability insurance expirations, request replacement coverage, update coverage as required. Responds to questions and works closely with members and builders to resolve issues related to Construction loans or escalates to ensure proper resolution. Maintains contact with members regarding documentation and funds needed for conversion to permanent financing. Oversees the request for Title updates and Final Title Policies to review for conformance with requirements. Assists in the preparation and processing of loan modification agreements for extensions of maturity date. Assists in the preparation and processing of closing orders to title companies for recording of modification agreements and tracks receipt of applicable endorsements. Be willing to assume additional duties as they arise, cross train within the departments and be responsive to Real Estate Lending and VyStar needs. Ability to maintain or exceed goals as defined. Must be able to generate enthusiasm for all VyStar’s products and services. Partner Relations: Establish collaborative partnerships with other lines of business, including Retail, Consumer, Business, Investments, Wealth and Commercial Works directly with the branches, call center or members to resolve issues. Must be a strong team player with a high level of professionalism and initiative. Encourage positive interactions and strong working relationships with Sales Partners and all other areas of Real Estate Lending. Performs other duties as assigned. Consistently adheres to VyStar core values and Code of Ethics and acts in accordance with corporate defined values and ethics. Consistently demonstrates VyStar Excellence with providing service to the membership, credit union employees, and third-party vendors. Responsible for understanding mortgage department goals as well as Credit Union goals and pro-actively works toward attainment of those goals. Identify and make recommendations to department Real Estate Lending Management regarding process improvements, quality service and increased efficiencies within the department. All employees and business units, as first line of defense, are expected to proactively help identify, assess, manage, and report risks within their domain of work. To enhance a healthy risk culture and support our growth for good pillar, employees will maintain vigilance in safeguarding our operations while ensuring compliance with regulatory mandates. The Risk team serves as the second line of defense by providing risk oversight and credible challenge whereas the Audit team serves as the third line of defense by providing risk assurance. Incumbent is expected to demonstrate each of the following VyStar Excellence behaviors in performing the duties and responsibilities of their job: Focus - Focus your full attention by carefully listening to and observing client or member. Connect - Consistently be friendly and approachable. Demonstrate your care. Understand - Listen empathetically and ask questions (70%/30% rule). Counsel - Recommend solutions based on your member’s needs and objectives. Advance - Ensure that member’s expectations were exceeded. Verify necessary follow-up actions.

Requirements

Ability to interface effectively with members, inspectors, builders, and potential members to ensure smooth workflow and provide efficient service to members while staying abreast of changing policies and procedures.
Must be self-disciplined and goal-oriented with a demonstrated ability to work independently.
Minimum of 3 - 4 years prior experience in the mortgage industry specific to Construction Perm Lending proven production and proven track record in heavy member contact.
High School diploma or equivalent
Must comply with all provisions of the Act as defined in the Secure and Fair Enforcement of Mortgage Licensing Act of 2008 (S.A.F.E. Act) and credit union S.A.F.E. Act Procedures.
Meet and maintain all the requirements as a registered mortgage loan originator employed by a federally regulated Institution with the Nationwide Mortgage Licensing System and Registry (NMLS)

Responsibilities

Analyzing construction disbursement requests and administering disbursements throughout the duration of the construction phase.
Serving as primary point of contact for general inquiries from members, builders, inspectors, loan originators and title companies concerning construction inspections and disbursements, including funding availability, obtaining approvals and required documentation before releasing funds.
Overseeing the inspection process and submission of invoices for payments.
Maintaining tracking to validate receipt of member documentation, ensuring appropriate release documents are received during each disbursement.
Ensuring disbursements are completed timely in accordance with the established guidelines.
Communicating frequently with members and builders to ensure projects are progressing according to the specified timing gates detailed in the construction agreement between VyStar, builder and members alike.
Monitoring monthly interest payments to ensure loans are current and payments are posting correctly before future draws are released to minimize risk to VyStar.
Monitoring and updating hazard and liability insurance expirations, request replacement coverage, update coverage as required.
Responding to questions and works closely with members and builders to resolve issues related to Construction loans or escalates to ensure proper resolution.
Maintaining contact with members regarding documentation and funds needed for conversion to permanent financing.
Overseeing the request for Title updates and Final Title Policies to review for conformance with requirements.
Assisting in the preparation and processing of loan modification agreements for extensions of maturity date.
Assisting in the preparation and processing of closing orders to title companies for recording of modification agreements and tracks receipt of applicable endorsements.
Being willing to assume additional duties as they arise, cross train within the departments and be responsive to Real Estate Lending and VyStar needs.
Maintaining or exceeding goals as defined.
Generating enthusiasm for all VyStar’s products and services.
Establishing collaborative partnerships with other lines of business, including Retail, Consumer, Business, Investments, Wealth and Commercial
Working directly with the branches, call center or members to resolve issues.
Being a strong team player with a high level of professionalism and initiative.
Encouraging positive interactions and strong working relationships with Sales Partners and all other areas of Real Estate Lending.
Performing other duties as assigned.
Consistently adhering to VyStar core values and Code of Ethics and acts in accordance with corporate defined values and ethics.
Consistently demonstrating VyStar Excellence with providing service to the membership, credit union employees, and third-party vendors.
Understanding mortgage department goals as well as Credit Union goals and pro-actively works toward attainment of those goals.
Identifying and making recommendations to department Real Estate Lending Management regarding process improvements, quality service and increased efficiencies within the department.
Proactively helping identify, assess, manage, and report risks within their domain of work.
Maintaining vigilance in safeguarding our operations while ensuring compliance with regulatory mandates.
Demonstrating each of the following VyStar Excellence behaviors in performing the duties and responsibilities of their job: Focus - Focus your full attention by carefully listening to and observing client or member. Connect - Consistently be friendly and approachable. Demonstrate your care. Understand - Listen empathetically and ask questions (70%/30% rule). Counsel - Recommend solutions based on your member’s needs and objectives. Advance - Ensure that member’s expectations were exceeded. Verify necessary follow-up actions.