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Construction Draw Administrator

Company: Fortis Private Bank
Location: Denver
Posted on: January 16, 2022

Job Description:

The Construction Draw Administrator will be responsible for reviewing and approving loan advances. The position will monitor construction projects, prepare reports to management, order and review project inspections, and oversee disbursements and documentation for commercial real estate and residential construction loans. Responsibilities

  • Responsible for disbursement of loan funds and monitoring of construction status and budget.
  • Will order third-party inspections, review inspection reports, payment documentation, lien waivers, title updates and issue progress payments to bank clients and/or contractors.
  • Responsible for ensuring that all documentation and calculations are accurate, complete and in compliance with bank policies, and that draw requests are funded in a timely manner.
  • Balance borrowers construction budget against bank records. Identify any overages in each line item as well as the overall budget. Obtain necessary approvals for any requested changes.
  • Work with external vendors to ensure funding requests are complete and accurate prior to funding.
  • Assist the Commercial Loan Admin team by ordering appraisals, environmental impact reports, and credit reports for borrowers.
  • Maintain draw files, reports and tracking logs.
  • Ensure that all disbursement documentation is scanned and saved to file.
  • Collaborate on construction loan guidelines, policies and procedures to ensure operational excellence.
  • Monitor and audit loan files to ensure compliance.
  • Comply with local, state, and federal government regulations and laws.
  • Other duties as assigned. Minimum Qualifications
    • 3-5 years of relevant experience in construction loan draw administration or similar role.
    • Familiarity with construction processes and documentation.
    • Ability to support multiple projects in parallel and prioritize competing demands.
    • Strong written and verbal communication skills required.
    • Must be comfortable working with complex computer operating systems.
    • Strong organizational time management skills, problem solving skills, and the ability to quickly grasp concepts and processes with limited guidance from management.
    • Must be able to work in a team environment with the ability to interact well, and in a positive manner, with co-workers and management.
    • Position involves contact with clients, necessitating the ability to present a professional Jobble

Keywords: Fortis Private Bank, Denver , Construction Draw Administrator, Professions , Denver, Colorado

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