Construction Loan Specialist

Being a Country Bank team member has a lot of perks! Our competitive total compensation package and comprehensive benefit package include:

• Medical, dental and vision insurance, a 401(k) Plan with a generous employer contribution plus match;
• Income protection benefits;
• Educational assistance and tuition reimbursement benefits;
• Remote work and flexible scheduling options;
• Generous total paid time off, and more!

Country Bank is a growing mutual community bank with locations in Hampden, Hampshire and Worcester counties. We’ve focused on Making a Difference in the lives of our customers, our communities, and for our team members every day since we were founded in 1850. It is our people that drive our success and create our culture, an inclusive and engaging work environment. We’re excited to meet you to talk about our career opportunities and how you can make a difference as a part of our growing Retail Lending team!

About the Job:

We're excited to announce an opportunity for the position of Construction Loan Specialist! Under the direction of the Vice President, Retail Lending, this position this position performs a variety of duties to ensure the proper servicing of residential construction loans from origination to completion of construction.

The hiring range for this position is $21.00 to $25.00 hourly.

This position is Full Time, 40 hours weekly.

Essential Duties and Responsibilities (Other Duties May be Assigned):

• Maintains communication with borrower(s), Loan Coordinators and Underwriters throughout the origination and closing process with regard to documentation.
• Prepares and schedules pick-up of construction documents (invoices, building plans, contracts, etc.) for review. Works with reviewer to address and resolve any issues found during the review.
• Creates the disbursement schedule for all Construction loans. Schedules calls/Teams Meetings with the borrower (and contractor if applicable) for review/approval before loan closing to ensure that the borrower/builder understands the disbursement schedule.
• Manages the construction loan portfolio via the Construct Portal, by coordinating, scheduling and approving residential mortgage construction loan inspections and monetary advances based on disbursement schedules and departmental procedures. Oversees and manages the Construction Inspection Schedule for each construction loan. Ensures that the inspection invoices are submitted for payment. Works with borrowers requiring extensions for completion of construction.
• Perform Registry search to ensure no liens have been placed on the property superior to the bank’s lien prior to disbursing funds. At 50% and 100% completion order a date-down title endorsement from the closing attorney in place of the registry search.
• When construction is complete, request a copy of the Certificate of Occupancy. Order the final appraisal; once received, review and process the final disbursement. If final appraisal shows work is not complete, determine the LTV and work with the appraiser to determine the cost-to-cure. Determine whether more funding is needed or partial or remaining funds should be advanced.
• To ensure that construction loans do not go beyond the end of the Interim Construction Financing period, the Construction Loan Specialist will monitor the loans approaching the end of their period utilizing the Construction Loan report. This report identifies loans that will reach the end of the construction phase within the next 60 days.
• Contact borrowers to inform them of the approaching deadline and to decipher where they are in the construction phase and works with customer’s on construction and interest only extensions. Determines if an extension is warranted.
• Crosstrain on other Loan Servicing Functions; Escrow, Quality Control, Loan Booking and Payoff Processing, to provide assistance when needed.
• Responsible for building long-lasting relationships with customers, community and colleagues through the embodiment of our Core Values: Integrity, Service, Teamwork, Excellence and Prosperity.
• Other job duties, as assigned.

Knowledge and Skills

It is required that the employee in this position can work independently, interpreting ideas and facts, while also analyzing and interpreting federal and state laws and/or regulations. This individual should have strong customer service and sales skills, along with the ability to communicate with a pleasant and professional manner. Employees with strong written communication skills and exceptional verbal/numerical aptitudes are preferred. Must also demonstrate the ability to meet tight deadlines while delivering a high-quality product.

This position requires intermediate knowledge of Microsoft Excel, along with basic knowledge of other Microsoft Office Suite items, including Outlook, PowerPoint, and Word. Knowledge of Finastra core platform, EPIC, XDOCs and Construct Portal preferred.

Education and Work Experience

A High School diploma or equivalent is required, while an Associate degree is preferred. A minimum of one to three years of banking or residential lending-related work experience is required. Experience specific to residential loan closing is strongly preferred.

Working Conditions/Physical Requirements

This position is in an office environment, which means the physical surroundings are generally pleasant and comfortable with minimal exposure to injury or other hazards, with a moderate level of noise. Prolonged periods of sitting and looking at a computer screen with freedom of movement on a regular basis is expected. Minimal physical effort is required but could include: repetitive motion of wrists and fingers; talking and hearing; and handling of light materials and supplies. This position may require some travel between offices.

Country Bank is an Equal Opportunity Employer. Diverse applicants encouraged to apply.