[Hiring] Construction Loan Administrator @BankUnited, Inc.

Role Description

This position has hands-on processing of timely and accurate handling of all construction loan administration and servicing with a variety of functions including, but not limited to:

• Budget and change order tracking
• Enforcement of retainage requirements
• Collection and verification of all required backup
• Receipt of title continuations and funding of advances after credit approval

Projects will include, but are not limited to:

• Ground up construction
• Renovation
• Capital expenditures
• Leasing commissions
• Tenant improvements
• Any other transaction that would require third-party inspections

The Administration and Servicing of the Construction and Construction Related portfolio is diverse and will include:

• Direct loans
• SBA 7A and 504 loans
• Purchased loans
• Sold loans
• Syndicated loans
• Shared national credits

Knowledge of Lien Law state requirements is preferred for adherence to the legal requirements during the administration and servicing process of these Construction and Construction Related Loans.

Qualifications

• Associate's Degree from two-year College or technical school or equivalent work experience required
• 1-3 Years related experience in investor reporting, accounting experience and/or education, syndicated loan experience, construction loan experience, loan administration-related loan documentation and closing experience or related relevant activity and experience required
• 1-3 Years SBA construction-related experience preferred

Requirements

• Administration and Servicing of Construction/Renovation related loans
• Serve as liaison for Borrower, Third Party Inspection firm and internal Credit Department for all requests
• Receipt of advance requests from borrower and coordination of inspection, when required
• Working with all necessary parties, compile and review advance packages with all required backup for accuracy and adherence to requirements including but not limited to:
• AIA G702 and G703, when required
• Budgets
• Retainage
• Contingency
• Inspection Reports
• Lien Waivers
• Equity
• Insurance
• Credit Approval
• Title
• For sold loans, coordinate with participant banks by sending notices, sharing inspection reports and ensuring receipt of their funds prior to funding borrower
• For SBA Loans, knowledge of federal rules and regulations regarding construction loans and advances
• Submittal of approved funding package to Commercial Loan Servicing team and performance of post-advance review of loan system for posting and funding accuracy
• Coordination with Commercial Loan Administration team for upload of approval package and inspection report to shared document repository
• Upon completion of project, work with Credit Department and Loan Closing Team to collect appropriate insurance to setup for tracking and to appropriately update loan system statuses and codes
• Servicing of Capital Expenditure and Tenant Improvement related transactions
• Track requests for Capital Expenditures, Tenant Improvements and Lease Commissions requests
• Ensure that the conditions of borrowing are managed such as limits for Capital Expenditures, Tenant Improvement and Lease Commissions
• Ensure required Leases, Rent Rolls and other required items are received and are satisfactory for subsequent draw requests
• Ensure Inspections are scheduled with property managers
• General monitoring and reporting
• Monitor project and loan on an ongoing basis for a variety of items and escalate to Credit Department as needed
• Participate in monthly meeting with management and business partners to speak to construction portfolio and details on specific projects when necessary
• Annual construction administration fees are paid to date, when required
• Using monitoring reports, ensure required insurance is current and meets approved requirements for each loan
• Perform testing as required for new vendors, system changes and upgrades
• Use judgment to proactively escalate potential material issues to management
• Have a thorough knowledge of bank policy
• Adheres to and complies with applicable, federal and state laws, regulations and guidance, including those related to anti-money laundering
• Identifies and reports suspicious activity

Benefits

• Candidates residing in locations within BankUnited's footprint may be given preference