Department: Commercial Real Estate
* Review construction loan requisitions and development costs (hard & soft cost budgets)
during term of loan.
* Monitor developer and builder’s equity contribution during construction loan
* Review the General Contractor and Sub-contractors’ contract agreements & match to proposed
construction loan budget.
* Review Hazard Insurance policies for adequacy of coverage and appropriate endorsements.
* Maintain tickler system to insure continued insurance coverage and any amendments (inclusion
and exclusion) to insurance policies.
* Collect lien waivers for monthly advances and review same to insure that the Bank continues
with its priority lien.
* Maintain escrow accounts for any subsidized projects.
* Coordinate with any agencies providing subsidies with respect to accounting and provide loan
servicing to particular subsidy agency.
* Review loan documents to insure all business points (loan structure and covenants) are
included in loan agreements.
* Order Title Continuation Report updates to insure Bank's priority lien as needed.
* Procure and review real estate tax and other Dept. of Finance searches.
* Monitor and track loan documents tickler system for compliance issues and exceptions.
* Coordinate construction loan take-out releases and permanent loan conversion repayments with
Loan Officer and various subsidy agencies.
* Attend loan closings with Loan Officer.
Please send your resume to email@example.com