Our client is seeking a hands-on Loan Administrator/Asset Manager for Commercial Construction Loans for commercial development and construction projects. This position is responsible for performing hands-on commercial construction loan administration. The Loan Administrator is responsible for all loan administration duties for each loan relating to the construction and management of the asset associated with the loan.
Essential Duties and Responsibilities:
- Provide support Pre-Close, to validate cost spent to date and identify potential areas of budgetary concern during the equity prove-up stage.
- Prepare Asset Set-Up based on requirements outlined in the loan agreement to identify compliance requirements, key dates and milestones for the Borrower, to be tracked and monitored for the duration of the loan period.
- Liaise with Borrower and facilitate information flow and administrative requirements and protocols through lifecycle of loan and construction process, while establishing a good relationship with Borrower.
- Obtain, coordinate, review, and track all documentation from the Borrower, relevant to the construction loan and monthly monitoring of the construction project. This includes front-end project analyses, inspection report reviews, draw request processing, budget oversight, monthly loan payments and contractual required documentation.
- Communicate and coordinate third party reporting requirements related to project inspections.
- Regularly review, analyze, and process draw requests, budget reallocations, review progress inspection reports, and coordinate funding with internal departments.
Our client is a leading multinational real estate financier that has built a reputation for providing developers, owners and investors innovative short to mid-term capital solutions for commercial properties in major centers across Canada and the United States.
Our client has earned the trust of investors by applying rigorous institutional grade underwriting to generate attractive yields and stable sources of income. The company will focus on expanding its real estate lending platform throughout the U.S. With loan amounts expected to range from $5M - $50M and terms from 1 – 3 years, there exists a great opportunity to provide non-bank funding in a marketplace often neglected by traditional lenders.
- 5 years of proven experience in one or more of the following sectors: Construction Loan Administration, Construction Administration, Paralegal for Commercial Real Estate transactions or Title Companies, Estimating or Development Owners Representation.
- Excellent time management skills and the ability to organize and manage multiple priorities. Strong analytical, organizational, and verbal and written communication skills.
- Bachelors of Science or similar Certification an advantage.