Construction Loan Manager

The Money Store; Florham Park (NJ); Remote; USD 90,000 - 110,000; Full time

Job summary

The Money Store in Florham Park, NJ is seeking a Construction Loan Manager who will oversee construction closings and manage the draw process, coordinating with borrowers, contractors, inspectors, and vendors to ensure timely closings and accurate disbursements.

The role requires strong organizational and project management skills, plus experience with mortgage and construction loan processes and loan software such as Encompass.

Qualifications

• Minimum of 5 years mortgage and construction loan experience.
• Strong organizational and project management skills.
• Experience coordinating with lenders, borrowers, vendors and inspectors.

Responsibilities

• Review construction project submissions for completeness and feasibility.
• Coordinate timely loan closings with all stakeholders.
• Oversee construction draw requests, lien waivers and disbursements.
• Manage 3rd party inspectors and vendors for project oversight.
• Maintain audit-ready documentation and reporting for senior management.

Skills

MS Office

SharePoint

MS Outlook

Word

Excel

Encompass

Communication

Project management

Tools

Construction loan software

Job description

If you are unable to complete this application due to a disability, contact this employer to ask for an accommodation or an alternative application process.

Construction Loan Manager

100000 - Corp Full Time Florham Park, NJ Remote, Florham Park, NJ, US

30+ days ago Requisition ID: 1822

Job Summary and Position Objective

The position of Construction Loan Manager (CLM) is responsible for processing construction closings and managing key aspects of the construction lending process. In addition, the CLM may work with other 3rd party vendors to effectively manage a growing construction loan portfolio. The CLM will also be responsible for providing training, managing workflow and working closely with the Operations, Accounting and Servicing Departments.

Essential Functions:

• Review complete construction project submission package including but not limited to contractor/builder acceptance requirements, construction budget, construction cost breakdown, plans and specifications, draw schedule and permits. Validate consistency, completeness, and feasibility of all submitted materials.
• Collaborate with borrowers, contractors/builders, construction loan management vendors, and other stakeholders to ensure timely and accurate loan closings by proactively coordinating communication, reviewing required documentation, resolving issues, and tracking progress through each stage.
• Manage the construction draw process, including review and approval of draw requests, lien waivers, title updates, invoices, site photos and inspection reports. Ensuring adherence to approved budgets and timelines.
• Collaborate with Accounting Department to ensure accurate and timely disbursements.
• Manage and work closely with 3rd party construction inspectors and vendors contracted to provide additional support and oversight on certain projects.
• Monitor project performance to identify potential risks and recommend corrective actions as needed.
• Maintain comprehensive records and documentation for audit and reporting purposes.
• Provide regular updates on project status and loan performance to senior management.
• Create new tracking tools and overall project performance.
• Provide additional support as needed for the Operations teams and other Loan Service Representatives within the Loans Department.
• Create efficient operational procedures and maintain training material.
• Responsible for the accuracy of all loan documentation and loan-related banking software entries.
• Microsoft Office Suite, SharePoint
• Strong organizational and project management skills
• Excellent verbal and written communication skills
• Strong computer skills including MS Outlook, Word, and Excel.
• Experience with Encompass system preferred

Preferred Education and Experience

• Minimum of 5 years of mortgage and construction loan experience.