Construction Loan Administrator (onsite)

Newtown Savings Bank • Newtown, CT • 2d ago

Location: Newtown, CT

Newtown Savings Bank is seeking an organized, focused, responsive professional to fill the role of Construction Loan Administrator in our Loan Servicing Department. Under the direction of the Loan Servicing Supervisor, this position is responsible for managing all aspects of the construction lending process, including homeowner, builder, subdivision, and commercial construction loans. Under the direction of the Loan Servicing Supervisor, this role ensures timely and accurate administration of construction loan activities, from pre-closing through project completion. This is an onsite opportunity at our Corporate office in Newtown, CT. The role has a remote option of one day per week.

PRIMARY RESPONSIBILITIES

Coordinate and administer construction loans, including ordering inspections, updating progress spreadsheets, processing advances, and maintaining accurate loan documentation.

Order appraisals and inspections reports upon request for commercial builders' lines and residential loans. Process invoices for payment upon receipt and forward reports to appropriate loan officer.

Contact residential construction loan applicants prior to closing to explain the process, review budgets/disbursement schedules and ensure adequate funding for project completion. Problem solve as necessary.

Set up working files and spreadsheets post-closing to monitor the progress of each construction loan and subdivision.

Schedule inspections for homeowner and builder line customers upon request and prepare a weekly list of all inspections to be conducted by the Inspector. Discuss inspections with each borrower upon receipt of results and process all construction loan advance requests.

Review files on a regular basis to ensure that builder licenses, homeowner and builders risk insurance policies are up to date.

Contact construction loan customers which have had no activity for 3 months to discuss project status and obtain updated information.

Assist with monitoring and processing credit bureau corrections and disputes. Upon completion of construction and receipt of Certificate of Occupancy, order the Certificate of Completion from the original appraiser. Review results.

Responsible for monitoring end of construction Principal and Interest starts and make recommendations for any extensions to management. Prepare mortgage modification documents and arrange with the customer/branch to execute documents.

Prepare/review documentation for approval of partial releases, land swaps and easements.

Assist with preparing documentation for other @type of modifications as needed.

Assist customers with Homeowners Insurance checks received for property damage. Review customer account information in Jack Henry to determine if insurance proceeds can be released or need to be held in an account for repairs. The insurance funds are either monitored and released via Bank inspections as repairs are completed or checks written to contractors for repairs.

Responsible for a monthly reconciliation and balancing of the Loss Draft general ledger account, ensuing timely resolution of outstanding items and maintaining accurate records.

Respond to customer inquiries via the group phone extension, providing prompt and courteous service.

Complete monthly Key Performance Indicator (KPI) reports as assigned.

POSITION REQUIREMENTS

High School diploma or equivalent with a minimum of two to four years' experience in lending.

Proficiency in Microsoft Office Excel and Word.

QUALIFICATIONS:

To perform this job successfully, an individual must be able to perform each essential duty satisfactorily. The requirements listed above are representative of the knowledge, skill, and/or ability required. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.

Any physical demands or work conditions described here are representative of those that must be met by an employee to successfully perform the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.

Full time employees also receive a complete benefit package including a generous 401(k), medical benefits, paid time off, and short and long term disability programs.

Newtown Savings Bank is an equal opportunity and affirmative action employer regardless of race, gender, disability status, protected veteran status. All qualified applicants will receive consideration for employment without regard to race, color, religion, gender, age, marital status, national origin/ancestry, sexual orientation, gender identity, disability status, protected veteran status, or any other legally protected status.

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