Construction Loan Specialist II (Hybrid)
Leawood, KS
Full Time
Construction Lending
Mid Level

First Federal Bank of Kansas City is one of the largest mutually owned banks in the Midwest and has been a strong banking and lending partner to families in Kansas and Missouri for decades. We are a community-oriented, culture-focused, progress-driven Family on a mission to help people build a better financial future.

At First Federal, you’ll be supported by diverse, talented, energetic individuals moving toward a common vision of prosperity and a home for all. You’ll have boundless opportunities for growth – whether it’s personal or professional development to reach your career goals, company events to strengthen your connections, or volunteer work to champion our community partners.

Your success is our success. When our employees feel valued, our customers feel valued, and our community grows.

Hear what our team members have to say: https://www.youtube.com/watch?v=GNPKmutbydo

SUMMARY
Assists in all areas of Construction Lending including but not limited to processing, closing, loan setups and budgets, draws, draw approvals, payoff quotes and payoffs, releasing, finals and conversions, daily/monthly reporting and balancing. The incumbent will be responsible for contributing to the daily production of the department in a proactive manner.

ESSENTIAL DUTIES AND RESPONSIBILITIES

  • Responsible for promotion and delivery of quality internal and external customer service.
  • Maintains positive communication when answering inquires on loans in process from branch personnel, buyers, sellers, realtors, title companies and builders.
  • Complies with all applicable banking laws, bank policies and federal regulations.
  • Manages/processes draws - facilitate the draw inbox, verify draw sheet to invoices, correct addresses, amounts and companies. Performs draws in accordance with builder requirements, i.e. issue checks directly, direct deposit or wire funds to fund draws. Request for missing items or clarification on incomplete draws, draw overages or errors. Complete all draws in required timeframe.
  • Requests and maintains all W9's for companies that are paid out funds, for correct end of year IRS reporting.
  • Completes draw approvals per approved Board Resolution tier based on job title.
  • Facilitates loan setups in our host system and our construction management system for all Spec/Build, Construction perm and Barndominium loans.
  • Construction budgets - inputs and balances budget in our construction management system for all Spec/Build, Construction Perm and Bardominium loans.
  • Payoff Requests/Payoffs/Releasing - Prepares and provides payoff quotes when requested. Performs payoffs in our systems when funds are received. Prepares and records releases on all required paid off loans per requirements.
  • Reports - pulls monthly construction reports for Management or as needed.
  • Must be proficient if not mastered one of the following processes: Spec/Buid process from start to finish, Processing and Closing for all C/P and Barndominium loans, Finals and Conversion process for all C/P loans.
  • Spec/Build Process will include but not limited to starting the loans in Encompass, ordering title and appraisals, organizing closing documents in conjunction with title company, preparing closing documents, funding the closing, maintaining the e-folder construction documents per requirements, setting up physical files for storage. All of these functions will be completed per auditing and policy requirements.
  • Processing/Closing Construction perm and Barndominium Loans will include but not limited to sending disclosures, clearing conditions, ordering appraisals, ordering title work, requesting more information from borrowers, ordering payoffs, updating insurance mortgagee clauses, handling credit issues, ensuring all underwriting conditions are cleared before sending to closing.
  • Finals/Conversion process will include but not limited to ordering final inspections, preparing final affidavits, holding funds back in escrow/held for completion, working with borrowers and builders to help close out the draw process, balance loan at end for final funding. Conversions completed by required time frame, preparing conversion documents, setting up escrow accounts, OSI maintenance, follow-up for final document returns and moving file to perm storage.
  • Perform other duties as assigned.

QUALIFICATIONS 

  • High school diploma or general education degree (GED); one to three years related experience in a financial institution, consisting of setting up and tracking loans.
  • Minimum required two years in the Construction Loan Department or equivalent Construction loan experience.
  • Completion of Federal regulations training on an ongoing basis. 
  • Strong attention to detail and ability to read and interpret documents such as operating and maintenance instructions, and procedure manuals.
  • Excellent communication skills, both written and verbal.
  • Proficiency in basic mathematics and ability to compute rate, ratio, and percent and to draw and interpret bar graphs.
  • Strong problem-solving and critical-thinking skills.
  • Typing speed of 45 WPM and word processing experience.

Note: The purpose of this document is to provide a general summary of essential responsibilities and requirements for the position and is not meant as an exhaustive list.

First Federal actively seeks to recruit and hire protected veterans.

First Federal Bank is committed to providing equal employment opportunities to all people without regard to race, color, religion, national origin, ancestry, marital status, veteran status, age, disability, pregnancy, genetic information, citizenship status, sex, sexual orientation, gender identity, or any other legally protected category.

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