Residential MTG Construction Specialist

First Bank (FBNC); Fletcher (NC); On-site; USD 55,000 - 75,000; Full time

Job summary

First Bank (FBNC) in North Carolina seeks a Residential Mortgage Construction Specialist to oversee construction draws, inspections, and documentation for residential, non-commercial projects, ensuring timely, accurate funding and risk mitigation.

You will work with borrowers, contractors, and MLOs to coordinate draw requests, verify inspections, and move loans from completion to permanent financing, while adhering to bank policies and federal regulations.

Qualifications

• High school diploma or GED; 2+ years’ experience in residential mortgage loans or loan operations.
• Knowledge of construction loan processes and documentation is preferred.

Responsibilities

• Establishes and maintains construction loan draw accounts and coordinates inspections.
• Calculates draw requests for borrower/builder approval and ensures funds are disbursed properly.
• Reviews inspection reports and ensures compliance with loan terms and policies.
• Coordinates with contractor, borrower, MLO and management to finalize financing and draw procedures.
• Maintains loan files, monitors maturities and extensions, and verifies balance of loan accounts.

Skills

Time management

Organizational skills

Customer service

Education

High school diploma or GED

Job description

The Position of Residential Mortgage Construction Specialist is responsible for performing assigned duties relating to the administration of residential, non-commercial construction in a timely, accurate and professional manner to mitigate loss and expense exposure to the Bank.

ESSENTIAL FUNCTIONS

• Establishes and maintains construction loan draw accounts, coordinates inspections and calculates draw requests for borrower/builder approval.
• Determines if draw requests are appropriate based on current and previous draw requests.
• Reviews inspection reports and challenges if necessary.
• Works with the general contractor and borrower by available and compliant means to establish loan advance procedures and throughout the construction process finishing with modification to permanent financing. Prepares checks, wires or deposits into checking account for the distribution of draw proceeds.
• Coordinates with department management, MLO, builder, and borrower to resolve any issues.
• Retains loan advance supporting documentation within the loan file.
• Monitors loan maturities and coordinates with department management any extension request.
• Monitors outstanding receivables for interest.
• Verifies that the loan remains in balance.
• Continually maintains Construction Loan Manager Data to ensure construction project is on schedule and line items balance.
• Reviews all relevant construction loan documentation, and determines all construction loan requirements are being met during the disbursement phase.
• At construction completion orders final inspection, requests certificate of occupancy, title update, proof of permanent hazard policy and paid property taxes.
• Must have excellent time management, organizational and customer service skills.
• Completes annual compliance courses.
• Adheres specifically to all corporate policies and procedures. Also adheres to Federal and State regulations and laws; including, the Bank Secrecy Act and the Anti-Money Laundering Act.
• Adheres to all levels of our Service Excellence standards.
• Performs other duties as required.

GENERAL QUALIFICATIONS

Knowledge & Experience

High school diploma or general education degree (GED); work related experience should consist of a minimum of 2 years’ experience in residential mortgage loans and/or loan operations. Educational experience, through in-house training sessions, formal school or financial industry related curriculum, should be business or financial industry related.

Physical Demands/Work Environment: Vision, hearing, speech, dexterity, visual concentration. A valid driver’s license is required. Must have the ability to stand, walk, sit and use hands and fingers. Must have the ability to work the hours and days required to complete the essential functions of the position, as scheduled. The environment is a professional office with standard office equipment.

Cognitive Requirements: Learning, thinking, concentration, ability to exercise self-control, ability to work in a customer relations’ environment. Must be able to pay close attention to detail and be able to work as a member of a team. Must have the ability to interact effectively with co-workers and customers, and exercise self-control and diplomacy in customer and employee relations’ situations. Must have the ability to exercise discretion as well as appropriate judgments when necessary.

Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.