Construction Loan Administrator

Overview

Our values define us and our culture inspires us to change lives for the better. Our employees are the heart and soul of our company, and every success we experience begins with them. Together we are committed to making a positive impact in our local communities. We champion a culture of continuous learning, work-life integration, and inclusion. We promote a digitally enabled work environment to continuously enhance the experience of our employees and customers.

hybrid within the Fulton Bank footprint: DC, DE, MD, NJ, PA, VA. Remote work arrangement also possible. Must reside in footprint to be considered.

• Responsible for the administration of certain real estate secured commercial mortgage credit facilities, including reviewing and preparing loan advances, monitoring builder lines, development loans and specialised construction loans, issuing release consideration letters or payoff quotes and collateral releases for those loans, collateral tracking, and processing loan payments.

  Responsible for the set‑up of construction loans for both commercial projects and residential development for monitoring within the Commercial Mortgage Administration Specialist group. Duties include collecting, reviewing and analysing loan documentation such as construction loan agreements for special terms, title insurance for advance limitations, flood determinations and building permits to ensure each future advance is calculated and advanced properly within each loan’s structure.

  Commercial Mortgage Administration Specialist may perform an initial loan advance into a customer’s account or a wire transfer and will require working with the relationship managers to verify a reconciliation schedule for inspection reporting. A Level‑II employee should be familiar with legal and structural questions concerning the proper set‑up of a construction loan and work independently through most of the loan set‑up.
  
  The Level‑II employee may be called on to help guide Level‑I employees from time to time. Once the set‑up of a construction loan is complete, the employee is expected to fund construction loan projects at the documented times and percentages of completed construction. This duty includes verifying loan system availability and analysing availability with Commercial Mortgage Administration Specialist tracking systems, preparing daily account and general ledger transactions which may include interest reserves, payments and tickets for processing.

  Commercial Mortgage Administration Specialist will need to identify when exception approval and appropriate documentation is required when stored materials or change‑order items are requested for funding or when other items may come up that require exception approval. Additional duties include conferring with the Due Diligence Officer or Legal in reviewing title insurance binders, commitments and policies to verify whether an advance bring‑down or updates are required and to also verify collateral.
  
  Order property inspections from approved property inspectors as needed for advances. Property inspection reports are to be tracked electronically, reviewed and analysed to see if a loan advance request can be advanced.

  Commercial Mortgage Administration Specialist will issue payoff quotes and/or release consideration letters for monitored loans and lines. Maintain a master sheet of payoff instructions for all loans monitored. This may require periodic research of the most recent line renewals to ensure we have the most recent requirements. Review collateral releases for accuracy and obtain appropriate signatures and notarised releases. Prepare release correspondence and maintain records of releases processed.
  
  Process daily account and general ledger entries for releases, principal curtailments and loan payoffs.

• Track exception approvals related to construction and development loan advances and releases. Scan advance and payoff and release related documents and file electronically for future reference. Confer with the Special Assets department on certain loans which may require special handling. Research, analyse and resolve problem inquiries made by Relationship…