Construction Disbursement Administrator
Company: Disability Solutions
Location: Phoenix
Posted on: September 28, 2024
Job Description:
Job Title:Construction Disbursement
AdministratorLocation:CityScapeWhat you'll do:The Construction
Disbursement Administrator is responsible for the disbursement
process on all construction loans while mitigating the bank's risk
during the construction process. The duties include but are not
limited to reviewing loan budgets and new loan setups, evaluating
draw packages, understanding loan documentation, working with
various departments relating to draw fundings, tracking collateral
movement and managing post-construction processes to ensure the
bank satisfies its responsibilities in regards to the collateral.
This person works closely with lenders, construction risk managers,
borrowers, title companies, voucher control companies, and third
party vendors. Assists staff with problem resolution and deciding
when to elevate an issue. May also personally handle more complex
loans including borrowing base facilities, rent-to-own loans, and
syndications.What we are looking for:
- Orders third-party cost/construction reviews.
- Schedules pre-construction meetings with the general
contractor, borrower, voucher company, and Construction Risk
Administration.
- Serves as liaison between loan closers, underwriters,
Relationship Managers and Construction Risk Administration both
prior to boarding loans to provide input on loan structure in
regards to how construction draws will be processed and how the
collateral will be monitored post-closing.
- May provide input to origination staff on construction
administration language for loan documents and title insurance
coverage issues.
- May monitor and fund on a variety of loans including real
estate subdivision loans, commercial construction, borrowing base,
and negative pledge loans.
- Orders and reviews construction oriented title endorsements as
outlined in the lender's closing instruction letter and/or loan
agreement.
- Notifies loan officers and management of liens, project budget
issues, or other conditions that increase the bank's risk.
- Provide backup to peer disbursers and/or servicers. May require
additional tasks such as quoting payoff demands, processing
payments, and preparing partial releases of collateral.
- Responsible for preparing and organizing loan draw packages,
ensuring quality, completeness and accuracy, prior to submitting to
the scanning department for upload
- Performs other duties and participates in special projects as
assigned by management.Qualifications:
- High school graduation or GED
- 4-6 yrs of experience in commercial real estate construction
lending with an emphasis on the disbursement process
- Experience in Fund control, construction industry practices,
and construction fund control software programs
- Real Estate development, home building, general contracting
experience
- Knowledge of mechanics of liens processes and
remediation.Benefits you'll love:We offer all the important things
you'd want - like competitive salaries, an ownership stake in the
company, medical and dental insurance, time off, a great 401k
matching program, tuition assistance program, an employee volunteer
program, and a wellness program. In addition, you'll have the
opportunity to bolster your business knowledge, learning the ins
and outs of how successful companies operate and manage their
finances, giving you invaluable hands-on experience to help grow
your career!About the company:Western Alliance Bank is a wholly
owned subsidiary of Western Alliance Bancorporation. Alliance Bank
of Arizona, Alliance Association Bank, Bank of Nevada, Bridge Bank,
First Independent Bank, and Torrey Pines Bank are divisions of
Western Alliance Bank; Member FDIC. AmeriHome Mortgage is a Western
Alliance Bank company.Western Alliance Bancorporation is committed
to equal employment and will consider all qualified applicants
without regard to race, sex, color, religion, age, nation origin,
marital status, disability, protected veteran status, sexual
orientation, gender identity or genetic information. Western
Alliance Bancorporation is committed to working with and providing
reasonable accommodations for individuals with disabilities. If you
are an individual with a disability and require a reasonable
accommodation to complete any part of the application process
and/or need an alternative method of applying, please email
HR@westernalliancebank.com or call 602-386-2488. When contacting
us, please provide your contact information and state the nature of
your accessibility issue. We will only respond to inquiries
concerning requests that involve a reasonable accommodation in the
application process.-- Western Alliance Bancorporation
Keywords: Disability Solutions, Avondale , Construction Disbursement Administrator, Professions , Phoenix, Arizona
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