Construction Loan Administrator I

Arizona Financial Credit Union; Phoenix (AZ); Hybrid; USD 55,000 - 75,000; Full time

Job summary

Arizona Financial Credit Union in Phoenix, AZ, seeks a Residential Construction Loan Processor to manage timeliness, quality, and accuracy of construction loans, budgets, and draws while protecting members and the credit union from risk.

You will support lenders, coordinate document collection, review budgets and contracts, conduct site inspections, and prepare draw packages for servicing and funding.

Qualifications

• High school diploma or GED and 1-3 years’ experience in residential lending origination, processing, servicing or disbursements/draws.
• Knowledge of residential lending regulations and compliance.
• Ability to complete construction site inspections and prepare required reports.

Responsibilities

• Assist residential lending team with collecting and reviewing required documentation for construction loans and related drawings.
• Maintain positive relationships with lenders, members, and vendors throughout the construction process.
• Review budgets and contracts for accuracy and feasibility.
• Process construction draw requests and prepare complete draw packages for servicing/funding.
• Maintain construction files and audit trails; ensure documentation is stored properly.
• Coordinate property inspections with 3rd party vendors and ensure insurance requirements are met.
• Assist with 3rd party invoicing and payment submissions.
• Stay up to date with changes to loan policies, procedures, and compliance rulings.

Skills

Attention to detail

Communication skills

Relationship management

Organizational skills

Residential lending knowledge

Job description

Description

Job Summary Overview

The position is responsible for the timeliness, quality, and accuracy of all aspects of residential construction loans, budgets and construction draws. Provide appropriate and timely support to all related Credit Union teams/employees, Credit Union members, and 3rd party vendors or related parties. Protect the member and credit union from risks associated with residential construction lending.

Essential Job Functions

• Assist residential lending team with collecting and reviewing required documentation related to construction loans, escrow holdbacks, holdback agreements and other related documentation required by policy for the credit approval.
• Communication skills are a critical component required for this position. Maintaining and managing positive relationships with all parties throughout the construction process is crucial.
• High attention to detail is critical.
• Responsible for supporting construction related aspects of the loan closing and construction funding process for all residential construction loans.
• Obtain missing documentation pertaining to construction loans in process, construction loan draw requests, final draw requests, and/or any other related task.
• Review construction budgets for accuracy and ensure the budgets are feasible for the project.
• Review construction contracts and related construction documentation to ensure all project associated information is accurate.
• Co-host introduction calls with loan officers to educate members and general contractors on the draw process and expectations of each party throughout the construction of the project.
• Prepare and send welcome packages to the member(s) and general contractor post-closing.
• Process construction draw requests based upon the prescribed draw schedule, create the complete draw package and submit the completed draw package to residential loan servicing for processing/funding.
• Maintain construction files and audit trail for all residential construction files. Ensure all appropriate documentation is saved and accounted for in required electronic destinations.
• Confirm insurance requirements are met and maintained throughout the construction period, including but not limited to builders risk insurance. Ensure appropriate homeowners insurance is obtained at completion of the project.
• Complete property inspections for residential construction projects to ensure compliance with draw and loan requirements.
• Order property inspections through 3rd party vendors for the draw process.
• Assist with 3rd party invoicing – review for accuracy and submit for payment to accounts payable.
• Document construction project progress and report any issues that present risks to the credit union.
• Keep up to date with changes to loan policies, procedures and compliance rulings affecting real estate, construction and administration.
• Proactively track residential construction projects from onset to completion.
• Complete construction extensions as needed with the appropriate internal approvals and deliver to the residential servicing team for completion.
• Assist with other administrative duties as needed.
• Assist with all aspects of commercial construction projects as a growth path within AZFCU.
• Performs other job-related duties as assigned.

Requirements

Position Required Qualifications

Minimum Education and Experience

High school diploma or GED and 1-3 years’ experience in residential lending origination, processing, servicing or disbursements/draws. Position requires knowledge of residential lending along with compliance and credit regulations. Candidate must be able to complete construction site inspections and prepare required reports.

Knowledge, Skills, and Abilities

High attention to detail and strong organizational skills required. Requires strong relationship management skills partnered with exceptional verbal and written professional communication skills. Problem solving, and interpersonal skills, along with the ability to produce quality work within tight time frames while managing multiple assignments. Position requires an ability to work on the credit union core processing systems and department specific processing systems.

Licenses, Training, and Certifications Required

None.

Preferred Qualifications

• Construction Lending Experience
• Commercial & SBA Lending Experience.

Hybrid Work Environment and Physical Demands

• Occasional lifting, 25 lbs. or less
• Ability to safely navigate constructions sites in various stages of construction and all types of weather.
• Sitting and standing for extended periods of time
• Working on a computer for extended periods of time

NOTE: The job description is intended to be generic in nature. It is not an exhaustive list of all duties and responsibilities. Requirements listed in the above qualifications and physical requirements are representative of the knowledge, skill, abilities, physical demands, or work environment required or encountered that must be met by an employee to successfully perform each duty and each function of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform these essential functions.

Employees who work from home must have business operational internet to complete work tasks and communicate via video call or chat messaging systems in a dedicated work space.