Under general supervision of the Construction Loan Administrator Supervisor & Officer this person is responsible for construction loans initial set up to full repayment. Enters budget and new loan data entry into CLCS, reviews and monitors construction loans for completeness and accuracy for which data was entered. Exercises judgment within defined procedures and practices to determine appropriate action.
RESPONSIBILITIES
- Reviews the approval terms of the Credit Committee Report (CCR) and essential documentation ensuring the accuracy of the budget.
- Enters new construction loan inputs in the CLCS system. Sets up loan budget; reviews data input for accuracy and assures that new loan set up line item budgets are in accordance with approval.
- Sets up construction loan disbursement files;
- Timely process of all construction loan disbursements which requires reviewing, analyzing and disbursing construction loan draws per guidelines and obtaining approval from the relationship manager in accordance with approval guidelines. Obtains title insurance date down/change orders for each draw requests when required. Enters draw request on CLCS;
- Order third party inspection reports and balance borrower’s construction loan budget against bank records and meets borrower’s time frame to ensure the highest level of customer service.
- Assures receipt and approval of inspection and title date down reports for all voucher disbursement requests. Schedules all disbursement transactions and inputs requests into the CLCS system. Prepares and presents disbursement documentation from the system; monitors and balances disbursement report.
- Monitors interest reserve adequacy on all accounts; assures accurate billing if and when interest reserves are exhausted.
- Monitor use of borrower’s soft cost funds and disbursing funds on borrower’s behalf.
- Is able to calculate the disbursement draw funding to the specific line item in the budget. Identify when insufficient funds in the budget line item and obtain approval for budget change request.
- Obtains Sales Agreements; Prepares demands for unit sales and enters pay-downs of units sold on the CLCS system and releases lien on sold units.
- Issues accurate pay off demands and ensure all fees, principal and interest are properly calculated and collected.
- Maintains current property and general liability insurance for all files.
- Ensures that all disbursement documentation is scanned and saved in the imaging system.
- Interface with relationship managers, title companies, appraisal department, construction services, accounting and etc. to manage the servicing of loan portfolio.
- Provides excellent customer service to clients. Responds to general inquiries on loan status.
- Demonstrates compliance with all bank regulations for assigned job function and applies to designated job responsibilities. Follows all Bank policies and procedures, compliance regulations, and completes all required annual job-specific training. May be asked to coach, mentor, or train others and teach coursework as subject matter expert.