Lead the servicing of complex and high-value construction and development loans, ensuring accurate closing, funding loans and disbursement of draws and tracking of budgets.
Ensure flood certificates are ordered and/or reviewed to determine if property is in the flood zone and if applicable coordinate with borrower to retrieve flood insurance.
Partner with the internal flood team for approval to close.
Review credit approval, loan agreement and promissory note to ensure construction loans meets the approved requirements.
Coordinate with clients, attorneys, relationship managers/project managers and title companies to ensure loans are closed accurately, and within a timely manner.
Review and approve prefunding and final funding packages provided by Commercial Loan Operation Construction Specialist for home builder finance loans.
Coordination between CLO Construction Specialist, Portfolio Manager and credit to assure matured units or loans comply to extend dates in Loan Momentum by creating new terms or expressions
Review and interpret detailed construction loan documentation, including agreements, title reports, budgets, and lien releases
Coordinate with relationship managers or project managers, credit officers, and title companies to facilitate smooth project funding and risk mitigation
For home builder finance loans, order appraisals and ensure the appraised values are in line with the borrower’s cost.
Serve as an escalation point for draw issues, budget overruns, or documentation discrepancies
Maintain accurate system records for construction loans, including commitments, interest reserves, and project milestones
Ensure compliance with internal policy and regulatory guidelines related to construction lending and draw funding
Train and mentor junior team members and review draw packages or system entries for accuracy and adherence to loan terms
Participate in audits, exams, and internal reviews by providing subject matter expertise and complete, organized documentation
Identify and implement process improvements or controls to enhance draw processing, monitoring, and client servicing
Partner with IT, Risk, and Operations leadership to support enhancements to systems or procedures related to construction loan servicing
Uses independent judgement and discretion to make decisions.
Analyzes and resolves problems.
Where applicable, approve and transfer new loans added in Loan Momentum. Maintain any revisions/corrections in Loan Momentum. Creating new locales to Loan Momentum.
Where applicable, circulate daily to CLO Construction Specialist reconciliation and daily delinquent report to assure items are cleared by month end.
