Commercial Construction Loan Administration Specialist
Job Locations
US-MD-Timonium | US-VA-Herndon | US-PA-Lancaster
Requisition ID
2021-15542
# of Openings
1
Location Name
York Road Commercial
Category
Commercial Banking
Value Proposition
Our values define us and our culture inspires us to change lives for the better. Our employees are the heart and soul of our company and every success we experience begins with them. We hire team members who raise the bar, who are collaborative and inclusive, who build relationships, and who are looking for a long-term career with Fulton Bank. We strive to promote a culture of work-life balance, to unplug and recharge to be your best self, at work and at home.
Overview
Responsible for the administration of certain real estate secured commercial mortgage credit facilities, including but not limited to reviewing and preparing loan advances, monitoring builder lines, development loans and specialized construction loans, issuing release consideration letters or payoff quotes and collateral releases for those loans, collateral tracking, and processing loan payments.
This is a hybrid position that would be remote with a requirement to work 20-40% of the time in an office in Lancaster, Pa, Herndon, Va, or Timonium, Md.
The hours are 8:30-5:00 Monday-Friday
Responsibilities
Responsible for the setup of construction loans for both commercial projects and Residential development for monitoring within the Commercial Mortgage Administration group. These duties include but are not limited to Collecting, reviewing and analyzing loan documentation such as construction loan agreements for special terms, title insurance for advance limitations, and other documents like flood determinations and building permits to ensure that each future advance is calculated and advanced properly within each loan's structure. Commercial Mortgage Administration step up may include performing an initial loan advance into a customer's account or a wire transfer, and will require working with the relationship managers to verify a reconciliation schedule for inspection reporting. A level II employee would be expected to be familiar with legal and structural questions concerning the proper set up of a construction loan and work independently through most of loan setup. The level I employee may need additional training or guidance from more experienced employees to start with, and is expected to be become an independent worker over time. Once the setup of a construction loan is complete Commercial Mortgage Administration employee are expected to fund construction loan projects at the documented times and percentage of completed construction. This duty includes but is not limited to: Verifying loan system availability & analyzing availability with Commercial Mortgage Administration tracking systems, Preparing daily account and General Ledger transactions which may include interest reserves, payments, and tickets for processing. As with loan set up advances may be deposited into deposit accounts or through use of wire transfers. All advances must be analyzed and validated to insure proper hurdles have been achieved by borrowers. Monitoring may include analyzing loan budgets, change orders, housing starts, project costs, etc. CMA will need to Identify when exception approval and appropriate documentation is required when stored materials or change order items are requested for funding or when other items may come up that require exception approval. Additional duties in this area include Conferring with Due Diligence Officer/Legal in reviewing title insurance binders, commitments, policies to verify whether or not advance bring down or updates are required and to also verify collateral. Order property inspections from approved property inspectors as needed for advances. Property inspection reports are to be tracked electronically, reviewed and analyzed to see if loan advance request can be advanced. Level I employees would not be expected to perform this job function until a certain level of experience was obtained. Help would be provided from higher level employee and the due diligence officer. Commercial Mortgage Administration Specialists will Issue payoff quotes and or release consideration letters for monitored loans and lines. Maintain a master sheet of payoff instructions for all loans monitored. This may require periodic research of most recent line renewals to be sure we have the most recent requirements. Review collateral releases for accuracy and Obtain appropriate signatures and notarizing releases. Prepare release correspondence and maintain records of releases processed. Process daily account and general ledger entries for releases, principal curtailments, and loan payoffs.
Track exception approvals related to construction and development loan advances and releases. Scan advance and payoff and release related documents and file electronically for future reference. Confer with the Special Assets department on certain loans which may require special handling. Research, Analyze and resolve problem inquires made by Relationship Managers, loan assistants and borrowers. May require corrections to the loan system or other tracking and recording methods. Handle routine office duties such as typing, filing to include electronic filing, scanning, faxing and answering telephones. Recommend improvements to the department's construction loan monitoring process to supervisor. Identify and report to supervisor any deviations from loan policy or loan approval. When appropriate, bring information to the attention of the Relationship Manager.
All Commercial Mortgage Administration employees must be able to maintain and monitors the Commercial Real Estate Database in Access by accurately entering the appropriate information in the database, which provides information for the quarterly developer's report created and coordinated by the Credit department. This will include monthly reconciliation of this database within a short, specific timeframe as well as follow up with Relationship Managers and loan assistants to obtain missing advance and payment information or other items.
Qualifications
Education
Associate Degree or the equivalent experience. Specialty: Business Administration or equivalent degree. (Preferred)
Experience
1 or more years Commercial Mortgage Administration or Equivalent. (Required)
2 or more years Commercial real estate lending for development and construction loans. (Preferred)
1 or more years Construction loan monitoring/administration experience (Preferred)
Must be or be able to become a notary.
Certifications
Paralegal Certification. (Preferred)
This role may perform other job duties as assigned by the manager. Each employee of the Organization, regardless of position, is accountable for reading, understanding and acting on the contents of all Company-assigned and/or job related Compliance Programs, regulations and policies and procedures, as well as ensure that all Compliance Training assignments are completed by established due dates. This includes but is not limited to, understanding and identifying compliance risks impacting their department(s), ensuring compliance with applicable laws or regulations, and escalating compliance risks to the appropriate level of management.
Sponsorship Statement
As a condition of employment, individuals must be authorized to work in the United States without sponsorship for a work visa by Fulton Bank currently or in the future.
EEO Statement
Fulton Bank ("Fulton") is an equal opportunity employer and is committed to providing equal employment opportunity for all qualified persons. Fulton will recruit, hire, train and promote persons in all job titles, and ensure that all other personnel actions are administered, without regard to race, color, religion, creed, sexual orientation, national origin, citizenship, gender, gender identity, age, genetic information, marital status, disability, covered veteran status, or any other legally protected status.
