Construction Loan Specialist 1

First National Bank; Pittsburgh (Allegheny County); On-site; USD 55,000 - 85,000; Full time

Job summary

First National Bank in Pittsburgh, PA is seeking a Construction Loan Specialist 1 to manage the disbursement process on residential construction loans and to independently manage project budgets.

You will review builder information for approval on the F.N.B. Approved Builder lists, authorize draw requests up to $1 million, prepare end-of-construction modifications, and coordinate with borrowers, builders, appraisers, and the mortgage team to ensure a smooth construction phase.

Qualifications

• Detail-oriented with strong numerical and documentation skills.
• Excellent written and verbal communication abilities.
• Strong organizational and interpersonal capabilities.
• Proficient with general office equipment and PC software.
• Experience with MS Word, Excel and PowerPoint at a basic level.
• Continuing education related to state/local building codes.

Responsibilities

• Reviews and verifies builder info to approve lists and assess risk.
• Reviews disbursement requests for projects 1M or less; collaborates with stakeholders.
• Prepares loan modifications at end of construction and manages escrow.
• Creates/extends construction loan documents and payout schedules as needed.
• Handles or approves wire transfers; enters 1099 data for contractors.
• Supports development of residential mortgage construction programs.

Skills

Detail-oriented

Excellent communication

Excellent organizational skills

Interpersonal skills

General office equipment

PC & software usage

MS Word basic

MS Excel basic

MS PowerPoint basic

Building codes knowledge

Education

High School or GED

Job description

Primary Office Location

626 Washington Place. Pittsburgh, Pennsylvania. 15219.

Position Title

Construction Loan Specialist 1

Business Unit

Mortgage Administration

Reports to

Manager of Construction Loan Servicing

Position Overview

This position is primarily responsible for managing the construction loan disbursement process on residential construction loans, to include independently managing the project budget. The incumbent is responsible for approving loan disbursement requests submitted by borrowers during the construction phase, verifying information supplied by the builder, approving the builder to be placed on the F.N.B. Approved Builder list and preparing the loan modification documents at the completion of construction.

Primary Responsibilities

• Reviews and verifies builder information in order to be included on either the F.N.B. Regular Approved list or F.N.B. Preferred Approved list. Analyzes builder assets, liabilities and references to determine potential risk to the borrower and to the corporation.
• Reviews and approves construction loan disbursement requests for projects of $1MM or less made by the borrower or builder. Evaluates if the requested amount is reasonable based on the appraiser's report on work completed. Collaborates closely with the borrower, builder, appraiser, and other parties during the construction phase to ensure a smooth process. Manages the project budget and has the authority to approve, modify, or deny draw requests based on their evaluation.
• Prepares the loan for modification at the end of construction by preparing the modification agreement, calculating the unpaid principal loan balance, determining the amount necessary to satisfy escrow requirements, calculating the interest due and the due date for the next payment.
• Develops and creates essential construction loan documents when existing templates are not suitable. This involves customizing payout schedules, indemnification agreements, and other specialized documents required by the unique circumstances of the building project.
• Initiates or approves wire transfers for the department as needed. May cut checks or approve wire transfers for approved construction loan disbursements. Manages and enters 1099 information into Fiserv Premier for disbursements made to contractors by keeping records of all disbursements made to contractors.
• Assists in creation and modification of residential mortgage construction programs and products.
• Performs other related duties and projects as assigned.
• All employees have the responsibility and the accountability to serve as risk managers for their businesses by understanding, reporting, responding to, managing and monitoring the risk they encounter daily as required by F.N.B. Corporation's risk management program. F.N.B. Corporation is committed to achieving superior levels of compliance by adhering to regulatory laws and guidelines. Compliance with regulatory laws and company procedures is a required component of all position descriptions.

Minimum Level of Education Required

High School or GED

Minimum # of Years of Job Related Experience Required

0

Skills Required

• Detail-oriented
• Excellent communication skills, both written and verbal
• Excellent organizational, analytical and interpersonal skills
• Ability to use general office equipment
• Ability to use a personal computer and job-related software
• MS Word - Basic Level
• MS Excel - Basic Level
• MS PowerPoint - Basic Level
• Continuing education relative to state and local building codes

Licensures/Certifications Required

N/A

Physical Requirements or Work Conditions Beyond Traditional Office Work

N/A

Equal Employment Opportunity (EEO)

It is the policy of F.N.B. Corporation (FNB) and its affiliates not to discriminate against any employee or applicant for employment because of age, race, color, religion, sex, national origin, disability, veteran status or any other category protected by law. It is also the policy of FNB and its affiliates to employ and advance in employment all persons regardless of their status as individuals with disabilities or veterans, and to base all employment decisions only on valid job requirements. FNB provides all applicants and employees a discrimination and harassment free workplace.

FNB will not provide sponsorship for employment-based visas for this position; only candidates who are legally authorized to work in the U.S. will be considered.