Senior Construction Loan Asset Manager

Senior Construction Loan Administrator

Description

Miami based real estate investment and commercial lending firm seeks an experienced Senior Construction Loan Asset Manager to join the asset management team. This is a rare opportunity to join the founding principals of the firm as they embark on the next level of growth for the companies. This is a role for an experienced individual with a broad array of skills in the real estate and finance industry looking to join an entrepreneurial team and work collaboratively to grow the organization.

The Opportunity

This position manages all the construction loan administration duties of the 3650 REIT construction loan lending program, ensuring that borrowers understand and follow construction loan requirements; and ensures that construction draws are processed in accordance with all requirements on a timely basis.

During the construction lifecycle of the assigned loan portfolio, the Senior Construction Loan Asset Manager is responsible for all loan administration duties for each loan. The Senior Construction Loan Asset Manager is the primary point of contact for borrowers, internal communications, and third-party vendors, to resolve construction loan related questions and all other issues.

Assures compliance with all 3650 REIT policies and procedures, as well as, all applicable state and federal regulations.

ESSENTIAL DUTIES

• Obtain, coordinate, review, and track all documentation from the borrower and third-party vendors. This includes front end project analyses, inspections, draw request processing, budget oversight, monthly loan payments, title updates, invoices, and contractual required documentation.
• Regularly review, analyze, and process draw requests, budget reallocations, review progress inspection reports, and coordinate funding with internal departments.
• Assemble and maintain construction loan documentation and files, collaborating with other staff to ensure compliance with institutional and regulatory policies and procedures.
• Monitor loan payments, tax payments, insurance policies, vendor invoices, and lien process to ensure proper and timely payment.
• Review commitment letters, underwriting files, escrow analysis, closing statements, loan agreements, and pre and post-closing documents for accuracy.
• Identify critical risks through careful analysis of submitted documentation through construction completion.
• Prepare and distribute appropriate funds control and disbursement packages from vendors accords to applicable interdepartmental procedures.
• Facilitate requests from loan officers, vendors, and project participants regarding status and schedule of all processes and site visits.
• Responsible for all project file maintenance, including loan documentation management, imaging, and reporting.
• Utilize reports to monitor and update project status in company systems.
• Prepare requests for approval of exceptions loan documents based on project request including legal requirements and risk tolerance.
• The ability to work in a constant state of alertness and in a safe manner.
• Perform any other related duties as required or assigned.
• Review construction file documents to ensure all requirements are met.
• Review and process draw requests/documentation according to 3650 REIT’s policy, procedures and terms in the loan agreement, on a timely basis.
• Review Investor Loan Servicing Agreement to ensure operations are compliant with all requirements
• Process repayments and monthly interest reserve advances.

• Input all draws/repayments/interest information in the required software system or spreadsheets, ensuring they are in balance with the loan system and construction budget, as well as updating the commitment amounts as they revolve.
• Coordinate with internal accounting team to coordinate wire and payment activity.
• Maintain logs for disbursement and payments.
• Assemble and file draw/repayment/interest documentation in the construction files.
• Participate in special projects as needed.

MINIMUM REQUIREMENTS

• Bachelor’s Degree in Accounting, Finance or Real Estate required.
• 4-6 years proven experience in Construction Loan Servicing preferred
• Basic experience, knowledge and training in lending activities, terminology and products and services.
• Basic math skills; calculate interest, commissions, proportions, and percentages; balance accounts; add, subtract, multiply and divide in all units of measure, using whole numbers, common fractions and decimals; locate routine mathematical errors; compute rate, ratio and percent.
• Excellent written and oral communication skills, including demonstrated ability to effectively communicate with management, peers, subordinates and external parties.
• Ability to deal with routine problems involving multiple facets and variables in standardized situations.
• Good organizational and time management skills.
• Ability to work with general supervision while performing duties.
• Current driver’s license and a vehicle with appropriate insurance coverage if required to drive in the course of performing assigned duties and responsibilities.
• Advanced ability using Microsoft Excel for reporting and analysis; experience with other Microsoft Office products, including Microsoft Word and Outlook.

OTHER SUGGESTED REQUIREMENTS

• Advance knowledge of Microsoft Excel, Word, PowerPoint and Outlook.
• Excellent written and oral communication skills, including demonstrated ability to effectively communicate with management, peers, subordinates and external parties.
• Ability to work in a cooperative team spirit to actively contribute to the betterment of the company.
• Potential to assume greater and broader responsibilities as the Company achieves new levels of success.
• Experience within a real estate organization, interacting with senior management and external parties (auditors, banks, attorneys).
• Strong analytical thinker with the ability to make sound business judgements, capable of recognizing and presenting the long- and short-term financial implications of solutions to positively impact the operating decision-making process.