Construction Loan Disbursement Specialist

Valley National Bank; Wayne (NJ); On-site; USD 70,000 - 95,000; Full time

Job summary

Valley National Bank in Wayne, NJ seeks a Construction Loan Administrator to review and administer construction loan documentation and disbursements, ensuring accuracy and timeliness.

You will partner with loan officers, builders, attorneys and appraisers from project inception to completion, support pre-closing activities, and help streamline workflow while upholding policy compliance. This role emphasizes risk management and excellent client service.

Qualifications

• Experience with construction loan documentation and disbursement processes.
• Ability to coordinate with borrowers, builders, attorneys, appraisers, and title representatives.
• Knowledge of pre-closing procedures and documentation requirements.

Responsibilities

• Reviews construction loan documents; analyzes and administers construction disbursements.
• Acts as the primary contact between borrowers, builders, attorneys, appraisers and title reps from loan inception to project completion.
• Participates in the pre-closing processes with loan officers and the construction loan officer to identify documentation requirements before approval and closing.
• Performs construction draw analysis and reconciliations to provide accurate disbursement requests.
• Takes action on items affecting the disbursement process, such as inspectors, change orders, sufficiency of funds, liens and restricted starts.
• Mentors borrowers and builders on the disbursement process.
• Monitors construction loan documentation for maturities, notices of commencement, builder's risk insurance, flood insurance, contractor insurance, licenses and permits.
• Assists with executing loan modifications and streamlining workflow, procedures and systems.
• Administers the construction portfolio in accordance with credit policy requirements for risk management.
• Provides quality service to team members and external clients.
• Follows bank policies, compliance regulations and completes required training.

Skills

Construction loan knowledge

Disbursement processing

Stakeholder communication

Job description

Valley National Bank in Wayne, NJ seeks a Construction Loan Administrator to review and administer construction loan documentation and disbursements, ensuring accuracy and timeliness.

You will partner with loan officers, builders, attorneys and appraisers from project inception to completion, support pre-closing activities, and help streamline workflow while upholding policy compliance. This role emphasizes risk management and excellent client service.