Construction Loan Administration Specialist

Republic Bank & Trust Company • Louisville, KY • 1w ago

Description"Republic Bank believes in the development and advancement of our associates. We offer the opportunity to learn all aspects of the company to prepare for future advancement. Come join our team for a career, not just a job!" Grade 7About Republic BankRepublic Bank's values are built upon making an IMPACT for our clients, our associates and the communities we serve. (IMPACT stands for Innovate for the Future, Make it Easy, Provide Exceptional Service, Acknowledge & Celebrate Success, Commit to Caring and Thrive Together) The associates of Republic Bank are the key to our success as an organization and we value our associates. It's one of the reasons we've been named as one of the Best Places to Work in Kentucky for ten years! For more information about the company, please visit www.republicbank.com.POSITION PURPOSE AND OBJECTIVESThe Construction Loan Admin Specialist is responsible for monitoring residential and commercial construction projects up to $3MM for the purpose of making draw disbursements.Applicants must be authorized to work for any employer in the U.S. We are unable to sponsor or take over sponsorship of an employment Visa at this time.MINIMUM QUALIFICATIONS Minimum of 2 years' previous Banking experience required. Minimum of 2 years' previous construction administrative experience preferred. Demonstrated proficiency in Microsoft Word and Excel required.ESSENTIAL JOB FUNCTIONS AND RESPONSIBILITIES Set up new draw files and determine the appropriate method of monitoring the projects Sources & Uses. Conduct pre-construction conferences with borrower, GC, contractors and loan team to discuss disbursement process. Review detailed construction cost sheet values for completeness and reasonableness based on the intended/proposed project. Upon confirmation plans, specs, and budgets are the most current versions provide approval to the appraisal group to order the "subject to" appraisal. Evaluate construction draws including borrower equity injection, change orders, soft costs, lien waivers, invoices, etc. Order construction progress inspections and calculate draw amounts based on inspector's site observations. Coordinate with title company for date down endorsements as applicable. Process construction draws upon approval by Team Lead or Manager. Where applicable, ensure projects are monitored in adherence to SBA and state requirements. Review and track construction diligence and make recommendations on the appropriate risk mitigations needed. Build and maintain relationships with owners, builders, contractors, engineers, architects, and appraisers to ensure project is completed as intended and within the scope of the construction budget. Maintain accurate and up-to-date construction budget monitoring draw tracking records. Maintain accurate and up-to-date construction data in the Construction Project System. Keep detailed account records of any updates/delays to construction progress and alert management as needed. In collaboration with the Processing Team ensure files are processed within SLA expectations. Review pre-closing loan documentation to ensure documentation accuracy. Monitor all insurance renewals to ensure real estate is covered within the bank's minimum coverage limits. Process new Builder/Contractor Qualification Statements in accordance with procedures and submit for approval to be added to RB&T's Builder Approval List. Make recommendations that enhance departmental procedures. Resolve mechanic lien or other title related issues as they arise. Facilitate the process of taking a construction loan to the permanent phase.* Maintain a working knowledge of compliance requirements affecting your position and area of responsibilities

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