Construction Loan Specialist
Summary
Title:Construction Loan Specialist
ID:2018103
Department:Administrative Center
Location:Construction Loans
Description

SUMMARY

Assists in all areas of Construction Lending, from closing, processing draws, to converting loans to permanent payments. The incumbent will be responsible for contributing to the daily production of the department in a proactive manor. This position will also assist the Construction Manager with other matters as appropriate.

 

ESSENTIAL DUTIES AND RESPONSIBILITIES include the following. Other duties may be assigned.

 

Responsible for promotion and delivery of quality internal and external customer service.


Obtains approval from Construction Manager on all plans, specs, and cost estimates on building contracts.

 

Prepares closing documents for Construction Only Spec/Build Job loans and schedules closing with Construction Manager.

 

Reviews closing documents and settlement procedures for the lot and/or land purchase.

 

Discusses draw procedures with borrower and/or builder.

 

After closing, sends papers for recording, balances closing figures for Spec/Build Job Construction Only Loans.

 

Calls specified companies to obtain property title reports, surveys, and appraisals.

 

Reviews title policies for accuracy when received.

 

Loan set up – complete OSI system entries and enter budget on CLM for new Spec/Build Construction Loans

 

Maintains positive communication when answering inquiries on loans in process from branch personnel, buyers, sellers, Realtors, and title companies.

 

Processes Draws – reconciles bills and checks to the draw request form, compares checks and bills to verify correct property address and amounts.

 

Funds draws – writes journals, deposits slips to First Federal accounts or prepares wire transfer request for accounts located at other financial institutions.

 

Maintains files by doing miscellaneous filing, pays survey bills, title work, insurance and etc. in connection with construction loans.

 

Reports – pulls monthly construction reports for Management or as needed.

 

Complies with all applicable banking laws and regulations, including, but not limited to, the Bank Secrecy Act, USA Patriot Act, and related anti-money laundering statutes; and, federal consumer protection legislation and regulations.

 

 

QUALIFICATIONS To perform this job successfully, an individual must be able to perform each essential duty satisfactorily. The requirements listed below are representative of the knowledge, skill, and/or ability required. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.

 

EDUCATION and/or EXPERIENCE
High school diploma or general education degree (GED); or one to three years related experience in a financial institution, consisting of setting up and tracking loans. Completion of Federal regulations training on an ongoing basis.


First Federal Bank is committed to providing equal employment opportunities to all people without regard to race, color, religion, national origin, ancestry, marital status, veteran status, age, disability, pregnancy, genetic information, citizenship status, sex, sexual orientation, gender identity, or any other legally protected category.
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