Leads the effort in the pre-closing and closing process on basic real estate loans, including construction, term, lines of credit, and letters of credit; and with some supervision, contributes to the processes on moderately complex to complex real estate loans, which may include syndications. Reviews loan approval and loan documents prepared by counsel to ensure consistency, risk management and adherence to approval and regulatory requirements, including CRA and HMDA and 2) Community Development construction real estate loans for low income affordable housing, financed with multi-family housing tax revenue bonds (both private placement and public offering), low income housing tax credits, state and federal funds, and various other private and public financing.
Works closely with Client Manager, borrower, construction consultants, title companies, Underwriting teams, Risk Management, legal counsel, and co-lenders. Monitors documentation requirements and exceptions, including interest and past dues.
May contribute to the training of junior associates. Responsible for managing construction draw process, including reviewing construction draw packages, identifying and helping to resolve construction and title issues, keeping accurate records of loan budget, monitoring non-loan sources of funds for certain product types, and ensuring loan is in balance in accordance with approval. Has two or more year's previous real estate loan administration experience or real estate paralegal experience; proficient computer skills, including Windows, Excel, Word and Outlook; excellent written and verbal communication skills; effective problem solving skills.
o Two or more years previous commercial real estate construction loan administration experience
o Finance or Accounting experience
o Understanding of regulatory requirements and credit and operational risk management
o Excellent written and verbal communication skills
o Ability to influence, effectively collaborate and coordinate servicing activities with a variety of business partners
o Excellent organizational and time management skills with ability to simultaneously manage multiple loan closings and competing priorities
o Technically proficient, including Windows, Excel, Word, PowerPoint and Outlook
o Solution oriented problem solving skills
Bachelor's degree or some accounting experience preferred.
Mortgage Warehousing Knowledge
1st shift (United States of America)
Hours Per Week:
Bank Of America Corporation