Construction Loan Administrator
CategoryClerical and Administrative
Job LocationRockville, MD
Under close supervision, administers construction project from commencement to completion. Reviews construction documentation for completeness and accuracy. Requests any missing construction items. Sets up, monitors, and maintains construction loan information in construction loan budget system. Reviews and processes draw submissions to disburse loan funds. Performs other administrative work as needed.
MAJOR DUTIES AND RESPONSIBILITIES:
- Consistently provide excellent customer services to external and internal customers while working on the entire constructtion project for less complex loans.
- Under close supervision and approval protocol, reviews and processes draw submission to disburse loan funds which includes making sure all regulatory and compliance requirements are adhered to.
- Reviews loan commitment, approval, loan agreement, note, insurance certificates, and title policy.
- Communicates and resolves budget and project issues with borrower and lender.
- Updates the construction loan budget system and makes sure it is in balance with Bank’s core system after funding.
- Coordinates and resolves inspection and title issues.
- Disburses loan funds via Direct Deposit Account, wire or check after seeking approval from the manager or approved designate.
- Reviews construction documentation to ensure Bank’s core system mirrors the construction loan agreement.
- Requests missing construction documents/items if needed.
- Adds new loans and budgets in construction loan budget system and/or updates existing ones as modified/approved.
- Follows-up and resolves any funding hurdles with the borrower and appropriate internal personnel.
- Updates Expected Funding Report.
- Performs other administrative work - scans, files, cuts checks.
- High School diploma or equivalent required.
- 3 years of experience in banking operations, loan administration, or loan documentation, mortgage or title company or property insurance experience.
- 2 years of direct customer service in banking strongly preferred
- Bookkeeping, Accounting or Banking Coursework preferred.
We are an equal opportunity employer. Employment selection and related decisions are made without regard to sex, race, age, disability, religion, national origin, color or any other protected class.