Director, Commercial Construction Loan Administration
Location: Silver Spring, MD
The Director of Construction Loan Administration directs and oversees all the construction loan administration duties in the Real Estate Investment Group, ensuring that all Borrowers and Construction Loan Servicers understand and follow construction loan requirements and ensures that all construction draws are processed on a timely basis in accordance with all requirements and documents. Supervises Construction Loan Servicer positions.
- Directs and supervises the Construction Loan Servicers. Establishes and maintains ongoing communication with staff regarding performance expectations, organization and department goals and career objectives. Provides training resources, mentoring and employee development plans. Prepares and communicates performance appraisals as appropriate or required. Documents and communicates disciplinary actions as necessary.
- Monitor loan approvals, commitments and actively participate in the closing process of new construction loans and modifications. Review pre and post-closing loan documents for accuracy. Establish contacts and relationships with borrower representatives and loan participants.
- Oversee the construction loan administration and servicing process including obtaining, coordinating, reviewing and tracking all documentation from the borrower and third-party vendors. Regularly review, analyze and approve draw packages and vendor reports prior to loan closing and/or disbursement, recommending funding to Vice President.
- Collaborate with other REIG staff (RVP’s, Analysts, Credit Manager) to ensure compliance and consistency in maintaining company policies and procedures. Maintain an interactive relationship with loan origination staff and borrowers to enable proper monitoring of their respective portfolios.
- Identify critical risks through careful analysis of submitted documentation through construction completion. Promptly communicate issues, concerns and information regarding identified risks and violations of policies and procedures.
- Responsible for the construction loan reporting systems, ensuring accuracy, budget balancing and appropriate uses of loan proceeds.
- Performs all duties of the Construction Loan Servicers in their absence.
- Responsible for creating, updating and reviewing the procedures for construction loan administration and servicing.
- Assemble and maintain construction loan documentation files.
- Minimum of 7 to 10 years related experience
- Bachelor’s Degree in a related field
- Must be a US Citizen or US Permanent Resident