Construction Loan Administrator - Funding, Inspections & Servicing

BankUnited, N. A.; Florida; Remote; USD 80,000 - 110,000; Full time

Job summary

BankUnited, N. A. seeks a Construction Loan Administrator to manage timely processing and accurate servicing of construction and related loans, including budgets, change orders, and retainage after credit approval.

The role involves coordinating with borrowers, inspection firms, and Credit, handling advance requests, lien waivers, title continuations, and post-advance review for SBA 7A/504 loans, and ensuring data accuracy in loan systems.

Qualifications

• Experience in construction loan administration and servicing.
• Familiarity with AIA G702/G703, lien waivers, and title continuations.

Responsibilities

• Administer and service construction/renovation loans.
• Coordinate with borrowers, third-party inspection firms, and Credit Department.
• Review advance packages, retainage, budgets, and change orders for compliance.
• Coordinate with sold loans participants and SBA loan requirements.
• Post-advance review and data entry in loan systems.
• Track and obtain required insurance, lien waivers, and title continuations.
• Monitor inspections, leases, rents, and capital expenditures.

Skills

Construction loans

Loan administration

SBA 7A/504

Lien law knowledge

Title review

Tools

G702/G703 forms

Loan systems

Job description

JOB SUMMARY
This position has hands on processing of timely and accurate handling of all construction loan administration and servicing with a variety of functions including, but not limited to, budget and change order tracking, enforcement of retainage requirements, collection and verification of all required backup, receipt of title continuations and funding of advances after credit approval. Projects will include, but are not limited to, ground up construction, renovation, capital expenditures, leasing commissions and tenant improvements, and any other transaction that would require third party inspections. The Administration and Servicing of the Construction and Construction Related portfolio is diverse and will include direct loans, SBA 7A and 504 loans, purchased loans, sold loans and syndicated loans and shared national credits. Knowledge of Lien Law state requirements is preferred for adherence to the legal requirements during administration and servicing process of these Construction and Construction Related Loans.

ESSENTIAL DUTIES AND RESPONSIBILITIES
* Administration and Servicing of Construction/Renovation related loans
* Serve as liaison for Borrower, Third Party Inspection firm and internal Credit Department for all requests.
* Receipt of advance requests from borrower and coordination of inspection, when required.
* Working with all necessary parties, compile and review advance packages with all required backup for accuracy and adherence to requirements including but not limited to:oAIA G702 and G703, when required -- Ensure all balances match the previous request and that all change orders are within allowable limits or are approved by internal Credit Department.oBudgets -- Ensure all budget line items are in balance and that all backup for disbursements is valid and allowable.oRetainage -- Ensure that retainage requirements per the loan agreement and original credit approval are adhered to and any discrepancies are approved by internal Credit Department.oContingency -- Track contingency reallocations in the Budget and track percentage of remaining contingency.oInspection Reports -- Validate that inspection report data aligns with backup and that percentage complete provided is consistent with the estimated completion date.oLien Waivers -- All lien waivers required per the loan agreement are collected with each advance for the prior period and are not duplicated.oEquity -- Ensure required borrower equity is utilized, when required by Credit Department and loan documents.oInsurance -- Using monitoring reports, ensure required insurance is current and meets approved requirements.oCredit Approval -- Compile approval package and request approval from Credit Department.oTitle -- Request and review title continuations with escalation to Credit Department for any exceptions.
* For sold loans, coordinate with participant banks by sending notices, sharing inspection reports and ensuring receipt of their funds prior to funding borrower. Ensure loans are balanced and have correct percentages in the system and notices.
* For SBA Loans, knowledge of federal rules and regulations regarding construction loans and advances, ability to review initial documentation required for the Plan & Cost Review, review Loan Agreement to ensure that all construction covenants are included.
* Submittal of approved funding package to Commercial Loan Servicing team and performance of post-advance review of loan system for posting and funding accuracy.
* Coordination with Commercial Loan Administration team for upload of approval package and inspection report to shared document repository.
* Upon completion of project, work with Credit Department and Loan Closing Team to collect appropriate insurance to setup for tracking and to appropriately update loan system statuses and codes.
* Servicing of Capital Expenditure and Tenant Improvement related transactions
* Track requests for Capital Expenditures, Tenant Improvements and Lease Commissions requests.
* Ensure that the conditions of borrowing are managed such as limits for Capital Expenditures, Tenant Improvement and Lease Commissions.
* Ensure required Leases, Rent Rolls and other required items are received and are satisfactory for subsequent draw requests.
* Ensure Inspections are scheduled with property managers.
* Request and review title continuations with escalation to Credit Department for any exceptions.
* General monitoring and reporting
* Monitor project and loan on an ongoing basis for a variety of items and escalate to Credit Department as needed. Monitored data includes but is not limited to lack of advance on loan for thirty days or more, balancing of loan and project that are behind schedule.
* Participate in monthly meeting with management and business partners to speak to construction portfolio and details on specific projects when necessary.
* Annual construction administration fees are paid to date, when required.
* Using monitoring reports, ensure required insurance is current and meets approved requirements for each loan.
General
* Perform testing as required for new vendors, system changes and upgrades.
* Use judgment to proactively escalate potential material issues to management.
* Have a thorough knowledge of bank policy.

* Adheres to and complies with applicable, federal and state laws, regulations and guidance, including those related to anti-money laundering (i.e. Bank Secrecy Act, US PATRIOT Act, etc.).
* Adheres to Bank policies and procedures and completes required training.
* Identifies and reports suspicious activity.

QUALIFICATIONS
Education
* Associate's Degree from two-year College or technical school or equivalent work experience required

Experience
* 1-3 Years related experience in investor reporting, accounting experience and/or education, syndicated loan experience, construction loan experience, loan administration-related loan documentation and closing experience or related relevant activity and experience required
* 1-3 Years SBA construction-related experience preferred

Licenses and Certifications

Knowledge, Skills, and Abilities
* Ability to function well in an independent work environment.
* Production Pipeline average 30 -- 40 (Pre Closing & Disbursing Status).
* Complexity of projects include but not limited to Small (under $350K) CRE Renovations, PIP's, and Leasehold Improvements.
* Experience using LOS systems.
* User knowledge of AIA documentation.
* Functioning, current knowledge of common SBA, Conventional and USDA loan program requirements.
* Accounting skills.

Additional Information
* Candidates residing in locations within BankUnited's footprint may be given preference.

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