IRE - Senior Construction Loan Analyst

Description

As our Senior Construction Loan Analyst, you will be responsible for the management of a portfolio of multifamily affordable housing construction loans on Merchants Bank’s balance sheet. This is achieved through effectively utilizing excel and proprietary in-house software to monitor and administer funding requests, ensure compliance with loan documents, monitor risk and adhere to reporting requirements. The Senior Construction Loan Analyst is an individual contributor role with no direct management responsibilities; however, you will be looked to for expertise and leadership. We are looking for someone who has a strong understanding of construction lending and focus on delivering a top-notch client experience through professional, effective communication and accurate, efficient loan administration processes.

Requirements

After one year as our Senior Construction Loan Analyst, you will know you were successful if you…

• Served as the primary client contact for a portfolio of construction loans financing the new construction or rehabilitation of multifamily affordable housing properties located throughout the country.
• Worked closely with clients, governmental agencies, participants, fiscal agent and title company on the monthly draw approval and disbursement process.
• Reviewed monthly construction draw requests and ensure submitted documents are in compliance with conditions of funding as stipulated in loan documents. Review third party construction inspection reports, request title updates and coordinate flow of funds mechanics.
• Managed relationship with Borrowers regarding development budget compliance, monitoring budget reallocations from hard and soft contingencies and ensuring sources and uses are in balance through the life of the construction term.
• Worked closely with the closing team prior to closing to ensure final construction budget and closing draw are accurate. Review Loan Review Memo and legal documents to ensure the deal structure and servicing nuances are accurately and consistently tracked across all systems and tracking tools.
• Prepared welcome package/funding guide and host introductory kickoff calls for deal teams on newly closed construction loans and complete the initial onboarding requirements for a deal post-closing.
• Provided monthly and quarterly deal updates for internal reporting and external reporting to agencies that provide a forward permanent loan commitment (Freddie, Fannie).
• Risk rate the construction facilities through periodic loan grading based on pre-defined risk metrics and discretionary criteria and escalate troubled deals to Workout Committee through monthly deal escalation meetings.
• Handled data requests from internal teams as well as from regulators, Internal Audit, clients, and other third parties.
• Tracked compliance of required guarantor financial covenants during construction and follow up on code violations, mechanic’s liens and lawsuits, as needed.

What we are looking for…

• 5 years of construction loan administration experience via roles on the lender, developer or Agency side, ensuring a thorough understanding of construction loan documentation, the monthly funding process and critical risk metrics required.
• Possess excellent communication and interpersonal skills to build and maintain strong customer relationships.
• Demonstrate a strong understanding of deal structure, flow of funds and funding priority in a construction transaction.
• Energetic individual who shows initiative, is a team player, and has a positive attitude when faced with changes.
• Ability to juggle tight deadlines and self-manage the appropriate prioritization of multiple tasks and projects. Requires problem-solving skills as well as the initiative to troubleshoot and find resolutions with minimal direct supervision.
• Must possess strong organization and communication skills with a focus on accuracy and attention to detail.
• A Bachelors degree in Real Estate, Finance, Accounting or Business Administration preferred.
• Requires proficiency in using basic computer software such as Microsoft Office, specifically Outlook, Word, and Excel.

ABOUT MERCHANTS CAPITAL

With over 30 years of success built on putting people first, Merchants Capital is a proven leader in financing for multi-family housing nationwide. Our licenses with Fannie Mae, Freddie Mac, and HUD/FHA, in addition to our bank’s balance sheet products, allow us to offer custom solutions with agility and ease of execution, expanding access to housing in meaningful and impactful ways.

Recognized as a top five affordable lender, Merchants Capital pairs our comprehensive debt offerings with in-house tax credit equity to provide a one-stop-shop for developers and owners. To learn more about Merchants Capital, visit www.merchantscapital.com.