Construction Draw Associate - Equity Lending Solutions

About the job

Job Description

Construction Draw Associate is responsible for the disbursement oversight and day-to-day management of the Company’s construction loan portfolio. The position responsibilities are to effectively communicate with construction loan borrowers, review construction loan documentation and financial information, monitor construction projects, prepare reports to management, ordering and reviewing project inspections and overseeing disbursements and documentation for participated loans.

Responsibilities:

● Reviews all construction loan supporting materials during pre-close review which includes, but not limited to, budgets, plans, specs, drawings and permits to determine if the proposed construction project appears to be well thought out. Review of documents provided to ensure a good experience for borrower team further down loan life cycle when work begins and draws are requested.

● Orders third party budget reviews, feasibility analysis, inspection reports, balances borrower’s construction loan budget against Company/Investor records and meets borrower’s time frame to ensure the highest level of customer service.

● Ensures the timely process of all construction holdback disbursements, which requires reviewing, analyzing and disbursing construction loan draws per guidelines.

● Calculates the disbursement draw funding to the specific line item in the budget. Identifies insufficient funds in the budget line item as well as the overall budget and obtain approval for budget change request. Works directly with borrowers to communicate such adjustments.

● Ensures receipt and approval of inspection and reports for all disbursement requests. Schedules all disbursement transactions and inputs requests into the system. Prepares and presents disbursement documentation from the system, monitors and balances disbursement report.

● Ensures that all disbursement documentation is scanned and saved in the system.

● Monitor construction holdback portfolio to ensure projects are lien free and construction is consistently progressing.

● Provides excellent customer service to clients. Respond to general inquiries on draw status.

Desired Skills & Qualifications

● Excellent analytical, problem-solving, and organizational skills.

● Excellent communication skills with focus on ensuring a high level of customer service is achieved.

● Strong computer skills including Microsoft Office (MS Word, Excel, Outlook).

● Detail-oriented, excellent organizational skills, and impeccable writing and grammar skills.

● Ability to work in a fast-paced environment while maintaining a high level of accuracy.

● Ability to work on multiple projects with the flexibility for changing priorities.

● Ability to prioritize multiple tasks, meet deadlines and work under pressure.

Requirements

● 2 or more years of experience in real estate construction loan administration; Strong technical expertise in construction loan administration functions; Considerable knowledge of construction finance.

● Bachelor’s degree.

● 2 or more years of mortgage experience or banking background preferred.

● 1 or more years working in residential private lending space preferred, but not required.

● Good customer service, communication skills.