Senior Construction Loan Administrator - Commercial Mortgage Warehouse

Make banking a Fifth Third better®

We connect great people to great opportunities. Are you ready to take the next step? Discover a career in banking at Fifth Third Bank.

GENERAL FUNCTION:

The Senior Construction Loan Administrator is responsible for balancing loan draws and at times reviewing equity contributions.  Projects assigned to this role are complex commercial construction loans in nature and require attention to detail and experience to review and recommend funding on loans of a large size.  Primary responsibilities include the management and identification of construction risks associated with commercial construction loan disbursements by completing a detailed analysis of project budgets, review sufficiency of supporting documentation and determine whether the loan remains in balance.   This critical review allows the bank to track the project’s progress as to the scheduled delivery and approved budget while ensuring the project is completed lien free so that the bank’s collateral position is preserved.  Responsible for identifying non-compliance with loan documentation and Commercial Real Estate Policy and Procedures.

Draws balancing is handled accordingly within established department templates and overall project tracking in department SharePoint site.  At the time of each draw, required to perform timely review of draw package received from borrower and GC, supporting documentation, inspection report and title endorsement.  Raise budget fluctuations and documentation inconsistencies along with required next steps needed to move draw forward with borrower while keeping line of business partners and assigned Construction Loan Project Manager informed. 

The role is responsible and accountable for risk by openly exchanging ideas and opinions, elevating concerns, and personally following policies and procedures as defined. Accountable for always doing the right thing for customers and colleagues, and ensures that actions and behaviors drive a positive customer experience. While operating within the Bank's risk appetite, achieves results by consistently identifying, assessing, managing, monitoring, and reporting risks of all types.

ESSENTIAL DUTIES & RESPONSIBILITIES:

• Review budgets confirming that the sources of funds and loan commitment are sufficient to complete project.
• Identify and communicate with Construction Loan Project Manager the progress of construction projects and issues that may need to be addressed, such as budget increases, mechanic's liens, equity needs and project delays.
• Identify documentation required pursuant to loan documentation, verify and review to insure appropriateness.
• Recommend approval to Construction Loan Project Manager for commercial construction loan disbursements for all types of projects originated by all lines of business.
• Ability to identify incomplete loan packages and work with different draw formats and forms. Be able to openly communicate with customer to correct deficiencies.
• Ability to prioritize pending work for multiple projects related to the review and approval of commercial real estate construction loan closings and advance.  Be a resource and provide guidance to the CLA team members and business partners.
• Order and review title updates or endorsements, as applicable, identify exceptions and pursue remedies to remove exceptions. Ensure all appropriate lien waivers are collected, reviewed for accuracy and seek corrections if necessary.
• Review inspection reports, identify issues and elevate to Construction Loan Project Manager, Line of Business and Credit Risk Partners as necessary. 
• Monitor changes by line item in the project budget and contractor payment applications and pursue explanations to budget changes and determine if changes are acceptable. Determine if interest reserve and contingency line items remain adequate.
• Responsible for identifying early warnings signs of fraud or project changes that may impact the completion of project on time and within budget.
• Coordinate with internal partners on tax credit, syndicated and/or participated loans to insure loans are funded timely.  Address participant questions or concerns and elevate issues as appropriate to avoid funding delays.
• Accurately complete all internal forms needed for disbursements and tracking.
• Responsible for establishing and managing construction files along with making sure loans are properly set-up, coded and updated on the commercial loan systems as well as in CLA SharePoint.
• Process interest payments timely and complete interest reserve reporting for management.
• Responsible for ensuring timely payments to outside vendo