Receive alerts when this company posts new jobs.
Senior Mortgage Construction Loan Specialist
at National Residential
National Residential Mortgage is proud of the depth of experience and skill our accomplished Mortgage Consultants possess. They have proven themselves as true experts in the mortgage arena and continually demonstrate their unfailing commitment to long-term customer satisfaction.
National Residential Mortgage is a service of DB&T, member FDIC, a Heartland Financial USA Inc., in AZ. For additional information about National Residential or Heartland Financial, visit www.htlf.com.
Under general direction, the Mortgage Construction Loan Specialist Senior is responsible for effectively performing duties related to the end-to-end processing of mortgages loans for construction projects.
PRIMARY & ESSENTIAL RESPONSIBILITIES:
1. Responsible to obtain all necessary Builder documentation for Credit Risk Approval.
2. Reviews various construction and renovation exhibits including, but not limited to, plans, specifications, bids, home inspections, etc. to establish an accurate new construction collateral
3. Completes a risk assessment review of the documentation and prepares a synopsis for the bank officer to make a final approval.
4. Documents each file, including obtaining Builder Approval documentation (license, builder’s risk insurance, references, credit check) plans and specs, cost breakdown, course of construction insurance, in an efficient manner while ensuring compliance with regulations, laws and lending practices.
5. Assists Lenders in managing their Construction loan portfolio and gives timely updates on the status of loan requests.
6. Coordinates with Mortgage Outsource provider to ensure processing, underwriting and closing of construction loan is completed as per SLA’s
7. Coordinates with MLO and Mortgage Outsource team for the closing of the construction loan
8. Acts as point of contact for the builder and borrower during the draw process
9. Reviews, approves and updates all draw requests by accurately managing the cost breakdown in accordance with the construction loan program.
10. Orders and processes all construction inspections and communicates results to customer and builder.
11. Completes necessary on boarding of the loan to the servicing platform.
12. Ensures all loan documentation is uploaded and indexed properly.
13. Monitors trailing documents (Recorded Deed of Trust and title Policy) and uploads to loan system.
14. Communicates initial file review to originating Loan Officer and to Management as required.
15. Communicates receipt of documents and updated review to the originating Loan Officer, Works to clarify and/or correct all problems or errors. Orders all subsequent updates and/or final reports, as required.
16. Ensures that the Loan Officer secures all required documentation or information necessary from our customers. Reviews all documents received from the Loan Officer and/or customer to ensure they meet construction loan program requirements.
17. Assists with pre-closing conference calls, requiring contact with borrower, loan officer, title company and contractor/builder.
18. Prepares all loan files for delivery to Funding within a timeframe that will allow the loan to close according to customer expectations. Assumes full responsibility for file accuracy and timeliness of delivery to funding.
19. Assists Loan Officers in monitoring of lock expirations and lock management. Takes steps to communicate and prevent locks from expiring.
20. Prepares accurate post-close packages for draws and disbursements.
21. Provides a written file review for each assigned Loan Officer. Includes information regarding current status, outstanding conditions and anticipated closing date of each loan in process.
22. Maintains excellent communication and customer service between customers, Loan Officers, Funders, and other parties involved in each loan transaction.
23. Assists in training loan originators on the construction loan program.
24. Assists construction lending customers both in person and via phone calls, acting on behalf of the lenders, when appropriate and within scope of authority
25. Completes post-closing checklists and performs post closing tasks:
a. Files and records collateral documentation to insure lien perfection.
b. Obtains final lien searches, certificate of title or title insurance to insure proper title.
c. Posts and/or performs appropriate entries for FASB, Origination/Documentation and/or deferred fees.
d. Approves and processes invoices related to loan closings; reconcile fees collected and disbursed.
e. Prepares loan documentation for imaging, utilizing a computerized imaging system according to established standards.
f. Prepares loan comment to the file according to the established guidelines.
26. Works with Lenders and Portfolio Managers to resolve loan documentation issues and clear documentation exceptions in a timely manner
27. Using Mortgage Builder monthly reports, monitors missing/expired required documentation,
28. Follows up with customers to obtain documentation required for the file.
29. Processes paid off loans in accordance with bank procedures.
30. Answers questions and assists less experienced loan specialists.
REQUIRED SKILLS & EXPERIENCE:
1. Bachelor’s Degree in Finance, Accounting or Business or equivalent combination of education, training and experience.
2. 5-7 years’ experience performing residential construction loan processing
3. Ability to review building plans and specs and cost breakdown and to ascertain costs are accurate relative to the construction project.
4. Knowledge of construction terminology and basic building components
5. Attention to Detail
6. Knowledge of underwriting guidelines for FNMA, FHLMC, FHA, VA, USDA, JUMBO.
7. Ability to maintain confidentiality
8. Advanced skills in Microsoft Office (Outlook, Word and Excel).
Scheduled Weekly Hours:40
Time Type:Full time
National Residential Mortgage is a residential mortgage lending organization focused on originating high-quality mortgage loans with predictable, dependable results and exceptionally high satisfaction rates among our clients.
Led by an executive management team with an average of over 20 years experience in all aspects of the mortgage industry, our staff of seasoned and skilled mortgage professionals were recruited for their outstanding reputations, proven expertise, strength of character and steadfast dedication to client satisfaction. The majority of clients seeking our services are referrals from those we have assisted in the past - a testament we consider to be the greatest measurement of our team’s thoughtfulness and dependability.
National Residential Mortgage operates in a best-in-class mortgage origination and processing environment. We draw from a wealth of knowledge concerning the intricacies of our business to ensure our back-office technology, processes, and procedures are efficient, organized, and precise. These highly-effective internal processes result in lower costs for the client, faster loan closings and a minimized possibility for human error.
EOE/AA Employer · M/F/Disabled/Vet
Member FDIC · Equal Housing Lender
Employment at Heartland Financial USA, Inc. is employment at will