Sr. Construction & Commercial Real Estate Loan Administrator
Company: American River Bankshares
Location: Rancho Cordova
Posted on: June 25, 2022
Bank of Marin, voted by our employees as one of the "Best Places
to Work" in the North Bay Business Journal fourteen years in a row,
is looking for a Senior Construction & Commercial Real Estate Loan
Administrator to join our Real Estate Credit Admin team at either
our corporate office in Novato or our office in Rancho Cordova.
Under general supervision, but according to established policies
and procedures, The Senior Construction and Commercial Real Estate
Loan Administrator assists loan officers with closing and
administration of construction and commercial real estate loans.
Such activities include opening escrow, ordering third party
reports (title, environmental, flood), ordering loan documents,
reviewing completed loan documents, preparing escrow instructions,
processing construction disbursements, maintaining construction
budgets and reviewing and tracking required insurance for projects,
and processing interest reserve payments.
Essential Job Functions:
* Interact with title companies to open escrow, obtain title
reports, order title endorsements, and
coordinate loan closings for construction and commercial real
estate loans. Review title reports for accuracy (including review
of vesting, legal descriptions, exception items) and make
recommendations for changes as appropriate. Review report
exceptions to determine which
exceptions the Bank will accept as prior liens. Work directly with
loan officers and title company to resolve issues, if any.
* Order flood determination notices and environmental reports for
construction and commercial real estate loans. Review flood
determination notices and environmental reports. Make
recommendations for further action as appropriate.
* Prepare orders to draw for construction loans and for certain
commercial real estate loans.
* Review loan documents prepared by Loan Documentation or outside
counsel for accuracy and to ensure consistency with the credit
approval terms. Inform Loan Officer of any inaccuracies.
* Prepare escrow instructions and forward loan document packages to
the title company. Follow for receipt of signed loan documents.
Review signed documents for any errors/omissions. Coordinate
correction of missing signatures, initials, and/or notarizations,
if necessary. Ensure all "Subject To" conditions have been
satisfied or ensure that appropriate approvals or waivers have been
* Prepare boarding instructions and deliver loan package to Loan
Operations for funding.
Create and maintains construction loan disbursement ledgers based
on the borrower's approvedbudget and loan officer's input. Review
loan disbursement requests, order inspections, and obtainnecessary
title endorsements prior to disbursing funds. Keep loan officers
apprised of changes toconstruction budgets. Handle correspondence
and inquiries pertaining to disbursements.
* Prepare loan transfer request forms to disburse loan funds while
following approved guidelines and dollar approval policies (if wire
transfers or cashier's checks are involved).
* Control and prepare monthly loan interest reserve payments for
construction loans to ensure monthly interest reserve payments are
processed correctly and in a timely manner.
* Review and process all 20 day Preliminary Notices received.
Notify loan officers if problems or
trends of non-payment by general contractor are discovered.
* Review evidence of insurance, including flood insurance, for
adequacy for construction and
commercial real estate loans. Ensure that proper insurance coverage
is on file at all times. Track for coverage changes and expiration
dates. Prepare monthly Insurance Log. Obtain proper approval for
any insurance exceptions.
* Follow for receipt of title insurance policies. Review title
insurance policies to ensure that the final policy matches the
requested coverage, including legal description of the collateral,
endorsements, and exception items.
* Other related duties and projects as assigned.
Professional Experience: 5 - 7 years related experience and/or
Educational Experience: Associate's degree (A.A.) or equivalent
from two-year college or technical school; or equivalent
combination of education and experience and/or training.
* Strong understanding of construction loan disbursement
processing, including lien waivers, title
endorsements, monitoring project status.
* Strong understanding of title reports, title policies, escrow,
loan documentation, and real property
* Strong understanding of different legal entities (such as Limited
Liability Company, Corporation S-Corporation, Partnership),
including structure of legal entities, and the implications on
signature requirements and proper lien perfection.
* Strong understanding of methods of holding title to real
property, and the implications on proper lien perfection.
* Strong understanding of environmental reports, including Phase I
and Phase II reports.
* Strong communication skills, with ability to quickly understand
and communicate concepts both verbally and in written form.
* Strong interpersonal and organizational skills.
* High ethics and character with sound judgment.
* Excellent customer service skills. Present a positive and
professional appearance and demeanor to
both internal and external contacts including other Bank employees,
vendors, service providers, etc.
* Ability to take and follow directions. Be able to acknowledge
knowledge gaps with the ability to
receive and act on feedback in a positive manner.
* Strong computer skills including, at a minimum, proficiency with
Microsoft Word, Excel, and
Outlook. Familiarity with DocuSign is helpful.
The Bank of Marin is a growing public company with career
advancement opportunities. We offer competitive compensation and
comprehensive benefit programs including medical, dental, vision,
401K, profit sharing and employee stock ownership plans, tuition
reimbursement, and an employee volunteer program.
Bank of Marin is an equal opportunity employer. EOE AA
Keywords: American River Bankshares, Rancho Cordova , Sr. Construction & Commercial Real Estate Loan Administrator, Professions , Rancho Cordova, California
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