SBA Commercial Construction Specialist, Senior

Overview

Location : On site in Memphis, TN, Nashville, TN, Raleigh, NC, or Orlando, FL.

This position provides administrative and commercial lending support to Commercial Lending Relationship Managers, Portfolio Managers and Client Specialists who provide SBA Real Estate and Construction lending. Note : This job description is not all inclusive of every duty that may become necessary in performing this job since loans and construction vary on individual projects, and additional information or duties may become necessary depending on circumstances.

Essential Duties and Responsibilities

• Review loan approval for all deal terms and requirements and confirm that all terms, requirements, and Borrower information are consistent with the term sheet, commitment letter (if applicable), and Loan Closing Documents.
• Verify standard loan closing documents are complete and accurate according to policies and procedures with regard to construction documentation requirements.
• Work with Line of Business and Borrower to review and update the Construction Checklist and the construction and due diligence documents received.
• Request and review bids from third-party Construction Consultants when required. Review and approve any Up Front and monthly reports as provided by Consultant.
• Review and approve all required construction documents, provide comments, and forward to third-party consultant as required by policy and / or procedures.
• Interface with Lenders, Borrowers, Attorneys, Title Companies, General Contractors, Consultants, and Agents to ensure proper documentation is received for Loan Closings and Draw Requests.
• Verify payment instructions provided by Borrower for loan closing and ongoing monthly draws. Confirm instructions match the instructions provided by the Loan Documents.
• Maintain and update project budgets as approved at closing, track changes made, and ensure funds are sufficient to complete the project.
• Approve loan budget changes within established limits or refer loan to RM or SCO for further approval / override as provided by policy.
• Review and approve draw requests and supporting documents as submitted by Borrower, including stored materials, deposits, insurance and other requirements common in the construction process or required by the Loan Documents. Confirm that Consultant's report supports the amount requested.
• Provide documentation to Loan Operations to disburse loan funds in accordance with Payment Instructions within the established SLA.
• Manage the disbursement and payment process to and from bank participants, junior lenders and agents.
• Ensure compliance with approved Policies and Procedures and manage loan exceptions within policy / procedures.
• Monitor requirements as provided by executed leases and permanent lenders.
• Maintain working regulatory knowledge regarding Flood Insurance, General Insurance, Title Issues, Mechanics Lien Law, Surveys and Bank Loan Documentation as well as SBA SOP requirements.
• Assist Line of Business and Borrowers with understanding construction and construction documents as the Subject Matter Expert. Remain accessible and available to answer questions, and provide feedback or additional information promptly upon request.
• Perform all other duties as assigned. Assist in training less experienced Loan Specialists.

Supervisory Responsibilities

Qualifications

About Us

First Horizon Corporation is a leading regional financial services company, dedicated to helping our clients, communities and associates unlock their full potential with capital and counsel. Headquartered in Memphis, TN, the banking subsidiary First Horizon Bank operates in 12 states across the southern U.S. The Company and its subsidiaries offer commercial, private banking, consumer, small business, wealth and trust management, retail brokerage, capital markets, fixed income, and mortgage banking services.

Benefits

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