Rehab Escrow Coordinator

NACA•San Antonio, TX

23h•Onsite

About The Position

The Rehab Escrow Facilitator (REF) works in NACA’s Home and Neighborhood Development (HAND) Department located in San Antonio, Texas, working primarily with low-to-moderate income homebuyers and revitalizing communities nationwide. The REF is responsible for the processing and management of Rehab Escrow transactions and serves as the Members' primary point of contact after the loan closes and until all work is successfully completed. Rehab Escrow funds are held by the lender to be disbursed for completed work according to a specified scope of work and rehab budget. The REF works directly with Members, providing oversight and guidance throughout the Rehab Escrow process. They collaborate with Members, contractor(s), draw inspectors, and the lender to document work progress, process draw requests and inspections, authorize payment disbursements, manage rehab escrow balances, project ledgers, and close-outs. The REF communicates with Members and their approved contractor(s), educating Members, vendors, and others about HAND’s post-close Rehab Escrow processes and policies. The REF works in a timely and effective manner, ensuring department goals and metrics are met as set by NACA management. They ensure compliance with the escrow agreements and project timelines. If Members fail to meet program requirements or timelines, the REF implements default actions as defined in the rehab agreements.

Requirements

High School Graduate or Equivalency – Required
Five years or more in business accounting or bookkeeping, including banking, processing, and/or pipeline management.
Strong analytical skills with ability to review complex financial documentation.
Excellent time management skills with ability to meet the metrics, daily production requirements, and department goals set by management while maintaining high quality standards.
Strong communication skills, written, verbal and listening, with ability to clearly explain complex requirements and provide comprehensive professional narratives.
Strong computer literacy with proficiency with technology platforms including Microsoft Office, NACA’s Members Portal, and documentation management systems.
Ability to maintain a high degree of accuracy in obtaining information and data entry.
Ability to work in a demanding environment with regular interruptions.
Strong work ethics.
Excellent interpersonal, communication and critical thinking skills.
Effective problem-solving skills, with capacity to analyze and resolve identified challenges in a timely professional manner.
Exercise discretion in handling of personal matters and sensitive financial information.
Flexible and willing to perform multiple tasks.
Highly organized with great attention to detail.
Self-motivated and resourceful with ability to work independently.

Nice To Haves

B.A. or B.S. in Business Administration or Accounting, Finance or Residential Construction Related Fields – Preferred
License(s) or Certification(s) in one or more residential repair trade services – Preferred.
Accounting or Business Administrative courses and training - Preferred.
Mortgage and/or real estate courses - Preferred.
Field experience as relates to residential construction management, repair, maintenance, and inspection services (i.e., builder, general contractor, residential property inspector, architect, structural engineer, safety, and code specialists, etc.) - preferred.
Regional knowledge of local and state building codes, permits and licensing - Preferred.
Multifamily property management, real estate brokerage experience, and/or knowledge - Preferred.
Ability to write and speak languages other than English, particularly Spanish, is a plus.

Responsibilities

Oversees a pipeline of 75+ closed rehab Members.
Contacts Members daily conducting multiple reviews, confirming funds with the lender, preparing or updating ledgers, reviewing draw inspections, collecting signed project forms, authorizing payment disbursements, clearing lender conditions, reconciling funds resulting from project change orders and eventual escrow close out requests.
Works directly with the lender’s construction lending team maintaining regular reporting of all open accounts, setting up new vendors, providing supporting documentation of all project work and addressing aged account reviews.
Prepares and maintains Project Ledgers.
Assigns Project Inspector and facilitates regular inspections.
Reviews and processes Draw Inspections, determining payment authorization based on the percentage of work complete with deduction for holdbacks and verified material purchases.
Authorizes Disbursements, determining the agreed-upon amount to release to contractor for partial or full and final payment.
Collects and maintains accurate records of Project Documents.
Sets up Vendors, confirming that license, insurance, and W9 are current and submitted to Lender for future payment disbursements.
Receives and confirms accurate lien waivers in the amount of payment release for partial or final payments.
Verifies payments, ensuring accurate accounting of monies applied to each contract agreement supporting the total amount of funds due to the contractor upon completion of work.
Maintains an accurate and detailed ledger of the Rehab Escrow balance for all approved contractors, including contingency amounts, until the scope of work is completed and the escrow account is closed.
Works with management and the legal department regarding project disputes.
Processes Change Order Requests.
Facilitates Default Notices and Actions.
Schedules Project Meetings.
Closes Out Projects.
Conducts bi-weekly reviews of open accounts and contacts Members when a project becomes inactive.
Educates Members about the rehab process from inspection to post-close project and payment management, and provides this information to vendors, NACA staff, R.E. Agents, and others about HAND policies and procedures.
Provides ongoing vendor support, document processing, and file updating of all ongoing communications.
Works closely with HAND Management to support Members, vendors, office, and program requirements.
Provides completed detailed narratives within the NACA-Lynx system.
Confirms and completes all scheduled appointments.
Follows up with Members, Vendors, Lender, NACA staff, and others.
Performs additional duties such as evaluation reports, repair waiver requests, work write-ups, re-inspections, and seller invoice review.