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Sr. Construction & Commercial Real Estate Loan Administrator

Company: Bank of Marin
Location: Rancho Cordova
Posted on: September 20, 2022

Job Description:

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 obtained.
* 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 training.

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.

Additional Requirements:

* 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

insurance.
* 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 M/F/Vet/Disability

Keywords: Bank of Marin, Rancho Cordova , Sr. Construction & Commercial Real Estate Loan Administrator, Professions , Rancho Cordova, California

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