Jobs

    Construction Loan Administrator - Washington, United States - CityFirst Bank

    CityFirst Bank
    CityFirst Bank Washington, United States

    3 weeks ago

    Default job background
    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.
    • Understands the construction draw process and the importance of monitoring budget items
    • 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.
    • Conducts post closing/pre-draw meetings with the borrower and deal team
    • Serves as back up for Loan Administration.
    • Escalates to management, as appropriate, over budget, behind schedule, out of scope requests, change orders, out of sync develop fee items, etc.
    • Performs other duties as assigned.
    Requirements

    EDUCATION & EXPERIENCE

    Required Education/Experience:
    • Some post-high school education or Associates degree in real estate, finance or business accounting or related field.
    • 2 to 3 years' experience in mortgage or real estate loan processing.
    Preferred Education/Experience:
    • Bachelor's degree in real estate, business, accounting, finance or related field
    • 3-5 years' experience in construction loan administration
    • 3-5 years' experience in commercial real estate loan
    • Experience with an automated draw process via Horizon, BankLabs, etc.
    CERTIFICATIONS
    • Not applicable
    KNOWLEDGE, SKILLS, AND ABILITIES

    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.
    Salary Description

    $66,170 - $82,349 annually
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