The Real Estate Administration Manager manages the Bank’s real estate secured loan and construction loan monitoring processes to ensure compliance with Bank policy and procedures, and applicable regulations; coordinates the ordering and review of appraisals, real estate evaluations, environmental due diligence, inspections, and other third-party reports; is responsible for the monitoring of construction loans.
Minimum Qualifications:
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Bachelor's degree in Finance, Accounting, or a related field.
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Previous experience in Finance or Credit Analysis required
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Minimum five (5) years residential and/or commercial loan processing, documentation or other directly related experience;
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Three (3) or more years of experience ordering and reviewing appraisals for commercial and residential real estate transactions.
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A combination of education and experience may meet the qualification.
Responsibilities:
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Engage vendors, order, and schedule third party reports including appraisals, real estate evaluations, appraisal reviews, environmental due diligence, and inspections.
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Review appraisals and evaluations to ensure that they comply with the Bank’s credit policy as well as regulators’ appraisal regulations and supervisory guidance. Analyze appraisals and evaluations to ensure they contain sufficient information and analysis to support the credit decision, including an assessment of reasonableness and whether valuation methods, assumptions, and data sources are appropriate and well-supported.
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Review, analyze, and make judgments on environmental due diligence reports and any the effects of any environmental conditions on the collateral, creditworthiness, and overall credit risk of a particular relationship or transaction.
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Review and approve advance requests on construction loans to include validating the request for funding and supporting information provided by the borrower as well as ensuring that inspection reports allow for advancement of loan funds.
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Collect and review approved loan approval and certain loan documents for special terms and conditions to ensure that requests, loan advances, and loan releases are in accordance with Bank policy, loan approval and loan documents.
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Conduct ongoing monitoring of construction loans by maintaining accurate records of specific loan requirements, total project costs, release information, borrower's required equity, loan budgets, advances, change order information, letter of credit information, speculative and model units, etc.
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Collect and review other real estate related documentation such as project cost budgets, builder's risk insurance, building permits, sales agreements, mortgage commitment letters, letter of credit related documentation, and occupancy permits.
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Work with Relationship Managers, loan assistants, loan documentation staff and loan operations staff to maintain complete and accurate real estate loan working files.
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Support risk management practices and overall safety and soundness and the Bank’s compliance with all regulatory requirements. Ensure that the department and all personnel adhere to the same.
Skills:
Basic knowledge of lending procedures, documentation, and systems; understanding of appraisal and real estate loan administration principles, theories, and concepts; interpersonal and communication skills, both verbal and written; organizational, problem solving and analysis skills; ability to meet deadlines and multi-task; time management skills; sound judgment and decision-making ability; personal computer skills to include MS Office, including word processing and spreadsheets; knowledge of compliance with federal and state regulations pertaining to the banking industry with particular emphasis on appraisal regulations and guidelines
Benefits:
At Orrstown Bank, our employees are our most valuable asset. Our benefits package is designed to help our team achieve work/life balance, maintain a healthy lifestyle, and plan for the future.
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Medical insurance
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Dental insurance
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Vision insurance
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Long-term disability
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Short-term disability
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Employee, spouse and dependent life and AD&D insurance
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Flexible spending account
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Dependent care spending account
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Employee stock purchase plan
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401(k)/profit-sharing program
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Paid time off
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Paid holidays
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Paid parental leave
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Employee service recognition
