As a Construction Operations/Closer with Colonial, you will assist in the processing, closing, and modifying of loans within the Construction Lending line of business.
- Loan Committee duties including: checking credit approval for Colonial/investor; guidelines for single-close/rehab; reviewing loan worksheet, cost breakdown, appraisal, builder, and borrower information; assessing risk of overall transaction; obtaining approval in accordance with Loan Committee authorization levels; inputting approval data in systems, and filing data.
- Initial Disclosures for Single-Close duties include: reviewing LO information for accuracy/ completeness; initiating disclosures through PPDoc software; and submitting data and reviewing disclosures for accuracy.
- Builder/Contractor Review duties include: processing Builder/Contractor Questionnaires for program acceptance; ordering credit reports if applicable; sending Vendor Verifications; reviewing info to determine risk; obtaining Management approval; and communicate decision with LO.
- Basic Draw Function duties include: contacting Builder/Contractor at file approval to discuss Draw Schedule and prepare start-up draw; setting up new Draw Schedules; ordering Inspections; completing Draw Disbursements; verify all required documentation in file: W-9, insurance, wire instructions, etc.; ordering Final Disbursement Docs; reviewing final docs: insurance, title endorsements, survey, affidavits; and review, approve/reject/amend disbursements-discuss w/ builder and/or borrower as required.
- Closing duties include: reviewing commitment, survey, tax certs, Closing Information Sheet, lock information, other requirements for closing; inputting closing information in Empower; completing Document Prep in PPDocs; reviewing/forwarding documents; reviewing/finalizing LE/CD; reviewing/approving executed documents; funding and disbursement; secondary review of closing package; and accounting/reconcilement.
- Loan Modification without Re-Qualification duties include: preparing modification packages for borrowers; collecting/processing accounting entries; secondary review of completed Modification Package; and shipping files to Investor Accounting.
- Other duties include: responsibility for customer/builder interest statements; loan servicing to include draws, payments, and escrows; Money Market account management; processing all invoices for payment; 1099 Corrections; and other duties as assigned.
- 2+ years recent Construction Lending experience, with a focus on One Time Close, Rehab and Builder Construction
- Strong knowledge of title requirements
- Strong knowledge of construction accounting principles
- Strong interpersonal skills, including the ability to work successfully with LO's, Builders, and Borrowers
- Working knowledge of software processing systems
- Experience in disbursement schedules/change orders
- Ability to establish workflow through initial disclosures, processing, appraisal ordering,
- underwriting, title work, and closing
- Advanced organizational skills, including the ability to plan work activities and stay on schedule
- Ability to communicate effectively, both orally and in writing
- Computer proficiency, including Word, Excel, Outlook, and Internet Explorer
- Ability to perform multiple tasks and prioritize responsibilities in a dynamic, fast paced working environment
This position offers a full range of benefits including Health, Dental, and 401k.
Equal Opportunity Employer
Member FDIC | Equal Housing Lender | NMLS ID 401285