What are the responsibilities and job description for the CRE Construction Loan Specialist, Senior position at First Horizon?
Location: On site in Orlando, FL or Raleigh, NC
Summary
The CRE Construction Loan Specialist position provides thorough, objective analysis of the construction documentation and funding requirements in the RE loan documents, and all supporting documentation provided across a range of commercial credit products, to include construction loans, revolving lines of credit and other commercial debt. It is expected to lead the RE construction monitoring and review process, including funding requests, invoices, AIA requests from the General Contractor, completion requirements as required by loan, other supporting and final completion documents. This role ensures construction risk controls have been met in order to proceed with closing and ultimately funding the construction as requested.
Responsibilities
- Review Commercial Real Estate Loan Approval for construction terms and requirements and confirm they are consistent with draft Loan Closing Documents.
- Work with Line of Business to review the Loan Closing Checklist and construction related documents received meet conditions of Approval
- Request and review bids from 3rd. party Construction Consultant(s) 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 3rd. party consultant as required by policy and/or procedures.
- Communicate effectively with Lenders, Borrowers, Attorneys, Title Companies, General Contractors, Consultants, and Agents to ensure proper construction documentation is received for Loan Closings and Draw Requests.
- Provide primary support and partnership to RMs and PMs to ensure construction loans maintain strong quality, while facilitating risk control measures for the Bank.
- Maintain and update project budgets as approved at closing, track changes and ensure funds are sufficient to complete the project.
- Approve loan Budget changes within established limits or refer loan to Team Lead, RM or RCA as applicable for further approval/override as provided by Policy.
- Review and approve Draw Requests and supporting documents as submitted by Borrower, within established limits or refer to Team Lead for additional approval
- Enter information to construction loan software to facilitate disbursement of loan funds within the established SLA.
- Coordinate draw requests with participants, junior lenders and agents for syndicated/participated loans .
- Ensure compliance with approved Policies and Procedures.
- Manage applicable loan exceptions.
- Monitor requirements as provided by executed leases and permanent lenders.
- Maintain a working regulatory knowledge regarding, Flood Insurance, General Insurance, Title Issues, Mechanics Lien Law, Survey’s and Bank Loan Documentation
- Maintain and update construction loan tracking system and document uploads as appropriate.
- Assist lower level Construction Loan Specialists as needed
- Perform all other duties as assigned
Requirements
- High School Diploma Required; Bachelor's degree preferred
- Three to Five years of direct experience in commercial construction lending or Five to Seven years of relevant work experience in commercial lending and documentation
- Considerable knowledge of operation functions, systems, policies and procedures for the assigned area
- In-depth understanding and practical application of state statutes, laws and federal regulations
- Excellent organizational, and project management skills
- Well-developed customer relations skills
- Excellent interpersonal, verbal and written communication skills
- Ability to manage multiple tasks/projects and deadlines simultaneously
- Thorough knowledge of banking operations and commercial credits
- Proficiency with MS Office Suite
About Us
First Horizon Corp. (NYSE: FHN), with $82.6 billion in assets as of September 30, 2024, 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. First Horizon has been recognized as one of the nation's best employers by Fortune and Forbes magazines and a Top 10 Most Reputable U.S. Bank. More information is available at www.FirstHorizon.com.
Benefit Highlights
• Medical with wellness incentives, dental, and vision
• HSA with company match
• Maternity and parental leave
• Tuition reimbursement
• Mentor program
• 401(k) with 6% match
• More -- FirstHorizon.com/First-Horizon-National-Corporation/Careers/Our-Benefits
Corporate Access Commitment:
At First Horizon, we focus on what matters most to our associates, clients and the communities we serve. As we continue to evolve, we remain committed to an open and supportive workplace and providing opportunity and access to capital and counsel for all.
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