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Construction Loan Administrator

Posted about 1 month ago

Title: Construction Loan Administrator

Location: Los Angeles, CA

Type: Contract to hire

 

Overview

Incredible teams doing exceptional work, every day

In Relationship Management Team Support, we document, process and underwrite both residential and commercial loans. We provide exceptional client service to internal and external partners. We support our Relationship Managers in all aspects of the loan process to ensure that we are delivering a seamless lending experience to our clients.

Duties and Responsibilities

As a Construction Loan Administrator, you will support the Construction Loan Relationship managers and the loan specialist team to help maintain the construction loan pipeline. Utilizing your knowledge of processing construction real estate, you will act as a team liaison between client, RM and Loan specialist to help maintain the existing construction pipeline and new construction loan closings. In this role, your focus will be to help organize the construction pipeline and monitor the team’s construction pipeline until the loan converts to a permanent loan, or payoff. You will also assist with other daily departmental production tasks such as providing client care, organizing the draw process, and completing other administrative functions as needed.

 

What you’ll do as a Construction Loan Administrator:

  • Review construction report monthly, and send conversion letters on all projects at least 90% complete. Follow up for receipt of notices of completion, certificates of occupancy, and other conversion related paperwork.
  • Review the construction report to ensure the team is aware of upcoming construction maturity dates.
  • Working with the RM’s to prepare construction modification/ or extension.
  • Conversions: Acquisition to Construction - Obtain required budgets, insurance, contracts, building permits, other materials, and forward set-up packages to Funds Control and Loan Servicing.
  • Construction to Permanent - Obtain required title endorsements, form 442 appraisal document, notice of completion, insurance updates, and forward conversion package to Loan Servicing for booking.
  • Insurance Monitoring (maintain current insurance policy for all loans in the midst of construction).
  • Contractor background checks. Direct checks with sub-contractors, vendors, banks. Verify workman's comp and liability insurance. Verify contractor's license. Obtain ELC approval to add contractors to FRB approved contractor list.
  • 2nd review for KYC/LOR/HMDA double checks for the teams construction loans.
  • Send and follow up on Granite construction loan packages for recent construction loan closings.
  • Entering construction start-ups as needed.
  • Maintain the construction team pipeline and keep the team in the loop as to, title company info, when the loan is scheduled to mature and draw status.
  • Work with the RM and client to update and follow up with Granite/CFSI concerning a draw request. Also, work with the team to resolve a draw potential draw issue.
  • Informing clients when their draw has funded.
  • Carry minimal residential loan pipeline.

Qualifications

Job Demands:

  • Must be able to review and analyze data reports and manuals; must be computer proficient.
  • Must be able to communicate effectively via telephone and in person.

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