[Hiring] Construction Loan Administrator @BankUnited

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 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
• 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
• Adheres to Bank policies and procedures and completes required training
• Identifies and reports suspicious activity

Benefits

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