Construction Loan Processor

Job Description

Job Description

Our Core Values

The credit union is a values-driven organization. Our Core Values are at the center of everything we do and are the driving force behind our mission : We help people and communities prosper.

1. Everyone Counts - We promote a diverse and fair workplace to better serve our Members, Team Members and Communities, fostering an environment of transparency, trust, and respect.

2. Innovate Boldly – We dream big, challenge the status quo, move with agility, and embrace data-driven decisions. We listen and continuously make the impossible possible.

3. Embrace the Fun! – We take joy in our work by welcoming kindness, integrity, and authenticity.

4. Own It – Valley Strong is ours to grow. We hold ourselves accountable to doing our best work every day and are empowered to do what’s right.

Position Summary

Department

Real Estate Lending

The Construction Loan Processor is responsible for managing the end-to-end processing of mortgage loans, including conventional, equity and construction loans. This role requires a strong understanding of construction lending, with a particular focus on managing construction loan draw requests, coordinating with contractors and inspectors, and ensuring timely disbursements. Responsible for the coordination of construction loans from application through completion of build, ensuring compliance with all policies and government regulations while providing exceptional Member service.

Essential Duties

• Process and manage a pipeline of mortgage loans from application through closing, including purchase, refinance, and construction loans.
• Handle all aspects of construction loan processin g , including reviewing budgets, managing draw schedules, and coordinating inspections and disbursements.
• Review loan applications and documentation for completeness, accuracy, and compliance with internal and investor guidelines.
• Order and review third-party services such as appraisals, title work, insurance, and verifications.
• Communicate with borrowers, loan officers, underwriters, title companies, and contractors to ensure smooth and timely loan closings.
• Ensure all required documentation related to the construction component of new loans is obtained prior to loan closing, including but not limited to construction and architect / engineer's contracts, construction budgets, and other documentation required by Policy and the Credit Approval
• Track and document all construction draw requests, ensuring proper lien waivers, inspection reports, and budget adherence.
• Maintain accurate and up-to-date loan files in the loan origination system.
• Acts as primary contact for builders / borrowers during the construction period
• Ensure compliance with all applicable regulations, policies, and procedures.
• Performs other duties as assigned.

Supervisory Responsibilities

Supervisory Responsibilities

Qualifications

To perform this job successfully, an individual must be able to perform each essential duty satisfactorily. The requirements listed below are representative of the knowledge, skill, and / or ability required.

Education

Min / Preferred

Education Level

Description

Minimum

2 Year / Associate's Degree

Or equivalent from two-year college or technical school.

Experience

Minimum Years of Experience

Comments

Related banking experience, preferably in construction lending and residential mortgage closing.

Related experience with associated lending software programs strongly preferred.

Language Skills

Ability to read and comprehend instructions, short correspondence, and memos. Ability to write simple correspondence. Ability to effectively present information in one-on-one and small group situations to Members and other Team Members at the organization.

Mathematical Skills

Ability to add, subtract, multiply, and divide in all units of measure, using whole numbers, common fractions, and decimals. Ability to compute dividends and interest.

Reasoning Ability

Ability to solve practical problems and deal with a variety of concrete variables in situations where only limited standardization exists. Ability to interpret a variety of instructions furnished in written or oral form.

Physical Demands

The physical demands described here are representative of those that must be met by a Team Member to successfully perform the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.

Other Skills and Abilities

Must be able to process transactions in an efficient manner. Must be able to communicate policies and procedures to Members in an easily understood and professional manner.

Must comply with all Bank Secrecy Act (BSA) and other Anti-Money Laundering (AML) laws and regulations, as they pertain to federal guidelines and internal policies and procedures.

The above statements are intended to describe the general nature and level of work being performed by people assigned to this job. They are not intended to be an exhaustive list of all responsibilities, duties, skills, or working conditions.