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Regular or Temporary:
Language Fluency: English (Required)
1st shift (United States of America)
Please review the following job description:
Play a key role in the set-up, support and servicing of a construction loan portfolio. Responsible for maintaining a constant flow of communication between internal and external clients. Perform all functions necessary to properly administer all construction loan programs while ensuring final marketability and providing BB&T's Perfect Client Experience (PCE) quality customer service.
Essential Duties and Responsibilities:
Following is a summary of the essential functions for this job. Other duties may be performed, both major and minor, which are not mentioned below. Specific activities may change from time to time.
1.Responsible for integrity of overall residential construction loan administration (CLA); ownership for monitoring terms of loan agreement and other construction policies, payoff procedures, and compliance requirements.
2.Receive inspection information and fund construction draw authorizations in accordance with loan documentation, Mortgage Lending Administration (MLA) guidelines and CLA Service Level Agreement (SLA). Ensure draws do not pose credit risk to BB&T and prevent fraud and mismanagement of all loan funds. Analyze and verify/ensure draws do not result in any loans over-funded beyond the scope of work completed and projects do not encounter cost over-runs that will result in projects being unable to be completed.
3.Support day-to-day needs of Mortgage Lending (ML) Loan Servicing by analyzing construction loan origination and closing documentation, as well as the ability to utilize the Bank origination system, mortgage loan servicing system and imaging system to properly administer a construction loan pipeline.
4.Schedule/receive and analyze construction loan progress site inspections and fund construction draws per CLA SLA timeframes.
5.Assist MLA Origination and Production staff in loan closings. Analyze and reconcile/balance all closed construction permanent (CP) loan files.
6.Communicate effectively, both verbally and in writing, with clients, builders and the MLA Origination and Production teams, including loan file statuses and updates during the construction project.
7.Responsible for set-up and maintenance of construction loan information in Mortgage Servicing software systems (Mortgage Servicing Platform (MSP) CP screens), MLA loan origination software system (UniFi) and BB&T's imaging and paperless computer records system.
8.Demonstrate ability to review and analyze residential construction loan contracts between builders and Bank clients.
9.Obtain all required insurance information and foundation surveys.
10. Input builder review set-up information.
11. Mail builder and client welcome letters, 80% letters and force modification letters, as needed.
12. Analyze and complete all follow-up activities to ensure draws are properly accounted/posted and complete inspection information is received.
13. Obtain proper documentation to protect BB&T's lien position during construction, such as proper insurance documentation, permits, foundations surveys, title updates and lien information
14. Review and file all incoming construction loan documents to ensure proper file documentation completion.
15. Assist clients with modifications of construction loans to include reviewing products, rates locks, obtaining required documents and the preparation and execution of modification documents. Assist clients with the analysis of the best program, interest rate, and terms for modification.
16. Research, analyze and accurately calculate monthly escrow payments for homeowner's and flood insurance, real estate taxes at time of modification including the required two month cushion amounts.
17. Prepare and balance transmittals for all funds received for processing by ML Servicing Cash Operations.
18. Handle completed/modified file and follow the delivery procedures of MLA Secondary Marketing requirements.
19. Maintain complete and organized client records for all CP loans per MLA and CLA guidelines for both paper and electronic files.
20. Assist clients, builders, vendors and BB&T personnel with inquiries.
21. Ensure timely payment of all third-party vendors.
22. Research and assist with client complaint issues and resolution.
23. Analyze/balance and prepare any needed extensions of CP loans and/or interest rate change modifications. Monitor all loans to determine loans that may need or will need extension processing.
24. Analyze/balance and prepare any needed forced modifications of CP loans.
25. Assist with the balancing/reconcilement of various CLA general ledger accounts.
26. Train new CP Analysts and assist other CP Analysts, as necessary.
Required Skills and Competencies:
The requirements listed below are representative of the knowledge, skill and/or ability required. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.
1.High School diploma or equivalent
2.Four years of experience with residential mortgage servicing, construction loan administration, residential construction business, mortgage processing, closing, or underwriting or financial institution accounting experience
3.Proficient in the use of the Black Knight MSP servicing system and the CP module
4.Proficient in the use of the UniFi loan origination system
5.Proficient in the use of additional specialized software systems used in the ML CLA area, including, but not limited to, third-party vendor software
6.Demonstrated proficiency of the same skill sets required of both a mortgage industry residential mortgage loan processor and a residential mortgage loan closer
7.Excellent math, verbal and written communication skills; attention to detail
8.Excellent organizational skills
9.Intermediate level knowledge of state and federal mortgage industry regulations
10. Ability to handle CP loans in multiple states and analyze and comply with various state requirements
11. Ability to set and meet priorities and deadlines and handle stressful situations
12. Strong sense of teamwork and mutual respect
13. High sense of urgency in all aspects of job functions and client interaction
14. Demonstrate positive, helpful, proactive attitude; exhibit growth mindset
15. Demonstrated proficiency in basic computer applications, such as Microsoft Office software products
16. Ability to travel, occasionally overnight
17. SAFE Mortgage Licensing Act compliant (or compliant within 30 days of employment in this role, including new or transfer of registration and acceptable NMLS background check)
1.Bachelor's degree in Business, Finance or Accounting or related field
2.Knowledge of all other aspects of residential mortgage servicing
3.Experience in residential construction loan administration
4.Some knowledge of mortgage loan underwriting requirements
BB&T is an Equal Opportunity Employer and considers all qualified applicants regardless of race, gender, color, religion, national origin, age, sexual orientation, gender identity, disability, veteran status or other classification protected by law.
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