Construction Loan Administrator

Functional Title: CRE Construction Loan Administrator

Corporate Title(s): Assistant Vice President to Vice President

Office Location: New York

CORPORATION: BHI

DEPARTMENT: Real Estate Northeast

REPORTS TO: Head of Construction

Job Summary:

This position is responsible for the administration of a commercial real estate construction loan portfolio and provides operational support to the CRE department as directed by the manager.

Main Duties and Responsibilities:

• Monitor and review performance of outstanding construction credits and report to manager on any developing/potential problem loans.
• Review closing loan documents to establish the foundation for ongoing compliance with stated business terms, ongoing communication with participants and investors and covenant/reporting requirements.
• Review inspection reports, maintain project budget models and process construction loan advance requests - ensuring draw documentation is complete, accurate and consistent with the requirements outlined in the loan agreement. Identify concerns noted by the construction consultant, exercise judgement, independent action and decision making to resolve and notify manager of extraordinary items that cannot otherwise be remedied.
• Manage third party consultants to ensure timely inspections and reporting of work in progress that results in the receipt of quality monitoring reports and service. Prepare/present recommendations to add/remove new firms to/from the approved vendor list as needed.
• Prepare internal funding notices for approval, as well as timely notifications delivered to participants/agent banks as applicable to ensure availability of funds and timely funding of requested construction advances.
• Process and track loan paydowns on construction loans when funds are received from unit sales, where applicable. Coordinate loan payoffs and satisfactions with legal and loan operations as required.
• Prepare and maintain loan contact lists on each account to centralize post- closing account information requirements (i.e.: authorized signatories, property contact, project manager, inspectors, title officers, participating/agent bank…etc.).
• Review payment activity in each account to ensure large checks and wires are appropriate for the project, no unusual activity has taken place in the account and concerns are researched as necessary and reported to team leader.
• Prepare and present quarterly CRE Portfolio and construction progress reports to Senior Management.
• Review construction loans on the dashboard reports and participate/coordinate in the resolution of: (i) upcoming maturities; (ii) overdrawn accounts; (iii) past due loans; (iv) pending/due real estate tax payments; (v) pending insurance issues; and (vi) outstanding covenant compliance issues.
• Undertake special projects relating to CRE dept. and loan portfolio administration as requested by manager.

Technical Skills:

• Ability to comprehend, analyze and interpret complex deal structures and real estate loan documents, including NY Lien Law Section 22 Affidavits.
• Experience with FIS and ACBS is preferable.
• Strong proficiency and computer skills with emphasis on Microsoft Office Products (Excel and Word), as well as industry standard sites such as Intralinks, Syndtrak, Debt-X.

Competencies:

• Excellent project management, follow-through skills and organizational/record keeping skills.
• Must be able to multi-task and meet time sensitive deadlines.
• Excellent verbal and written communication skills.
• Task oriented with attention to detail.
• Self-motivated with strong work ethic and initiative.
• Experience to run lead on team projects is a plus.

Experience Required/Preferred:

5+ years of commercial real estate construction loan administration experience.

Education Required/Preferred:

Bachelor’s degree with concentration in finance/accounting/economics is preferable.

Supervisory Responsibility: None