Construction Loan Administrator - Washington, United States - City First Bank, N.A.

City First Bank, N.A.

Verified Company

Washington, United States

3 weeks ago

Posted by:

Mark Lane

beBee recruiter

Description

WHO WE ARE

City First Bank N.A. is a mission-driven Community Development Financial Institution (CDFI) principally focused on a transformative impact in underserved, urban markets with the highest needs to drive equitable economic development.

Our lending activities are purely commercial and focused on the following segments:
Multifamily Affordable Housing, Not-for-Profit Finance, and Small Business Finance.

As a depository and commercial lending provider with over $1.4 billion in bank assets as of December 30, 2023, our unified organization has over 100 employees in Washington DC and Los Angeles/Inglewood, CA.

ROLE SUMMARY

The position of the Loan Administrator is responsible for preparing, tracking, processing Commercial Construction Loans in addition to funding construction loan transactions.

This position ensures all construction loans are monitored and funded within budget and on progress and in accordance with bank guidelines.

ESSENTIAL FUNCTIONS AND RESPONSIBILITIES

Creates construction loan file and sorts documents accordingly.
Participates in the closing process to ensure all construction priorities are addressed.
Coordinate initial call between borrower, Relationship Manager and Portfolio Manager to educate the borrower on the construction draw process and items that need to be submitted with each draw request.
Orders property/progress inspection reports.
Orders title endorsement from title company.
Receives draw requests from borrowers and reviews documentation for accuracy.
Prepares and maintains the Construction Monitoring Workbook.
Monitors receipt of documents and follows up with necessary parties to ensure documents are received in a timely manner.
Responds to questions from borrowers and follows up with them as necessary.
Analyze budgets for accuracy and balancing.
Ensure satisfaction of all conditions prior to funding.
Serves as back up for Loan Administration.
Performs other duties as assigned.

Requirements:

EDUCATION & EXPERIENCE
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Required Education/Experience:_

Graduation from high school, or equivalent (GED).
2 to 3 years' experience in mortgage or real estate loan processing.

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Preferred Education/Experience:_

Some posthigh school education or Associates degree in real estate, finance or business accounting or related field.

CERTIFICATIONS

Not applicable

KNOWLEDGE, SKILLS, AND ABILITIES
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Required Knowledge & Skills:_

Basic knowledge of general office procedures, bookkeeping procedures, and general ledger.
Basic computer knowledge.
Knowledge of bank lending products and services.
General knowledge of bank and consumer products.
Ability to read and write English.
Ability to use office equipment, such as personal computers.
Ability to work with speed and to meet deadlines.
Organizational and communication skills.
Advanced Skills in MS Excel.

Pay:
$66, $82,349.00 per year

Benefits: