Construction Loan Tech

Basic Function

Responsible for the administration of the construction loan portfolio from origination through payoff or rollover. Provide technical expertise to assess and take appropriate action to accomplish the processing, approval, documentation, accuracy, servicing, and reporting of the construction loans originated in the region while adhering to corporate and regulatory requirements. Provide high standard of customer service in all relationships with borrowers, M&T personnel and outside contacts associated with construction transactions.

Responsibilities

Process requests for builder approvals by determining and requesting all requisite documentation necessary for underwriting approval including business, personal credit reports, sub supplier direct references, organizational documents, licensing, insurance, and financials and or tax returns. Process requests for spec presale construction loans which includes determination of adherence to IGA parameters, ordering appraisal, title and flood determination and preparation of loan approval request for routing to appropriate authority level. Prepare construction loan documentation and escrow closing instructions for outside escrow closings in accordance with spec presale construction loan approval parameters and conditions, as well as internal procedures and guidelines. Review and prepare loan budget allocations to determine adequacy of funds to be held and disbursed for construction, fees and interest reserve. Review preliminary title report to determine allowable encumbrances and title conditions to be cleared at closing. Close and fund spec presale construction loan fulfillment of all loan conditions and internal requirements. Responsible for completeness and accuracy of loan documentation prior to advancing any funds from the loan. Facilitate funding of loan through data entry on automated construction system, request wire transfer from Buffalo for initial funding. Perform the preliminary review of custom construction builder property packages to determine construction closing requirements. Prepare construction loan agreement and riders in accordance with customer construction loan parameters and requirements. Responsible for the administration of disbursements from construction loan funds course of construction period after calculation for accuracy, receipt of draw request properly executed and documentation of progress from inspection reports. Maintain retainage requirements until documentation requirements for final draw have been met. Facilitate rollover of customer construction loans to permanent system by coordinating with Buffalo, performing quality control review of loan file, shipping file upon completion to appropriate destination and assuring that the process is accomplished accurately and smoothly for the benefit of the customer. Monitor construction loan portfolio for delinquency, loan maturity, customer construction period expirations, additional fee due dates, insurance expirations, and IGA expirations. Send out notices as necessary for maturity dates, custom construction expirations and additional fees due. Request updated information as needed for maintenance of master credit files.

Minimum Qualifications

Bachelor's degree or equivalent in work experience. Two to three years mortgage experience preferably in construction lending. General knowledge of PC software and applications. Excellent verbal and written communications skills with the ability to interact with all level of personnel. Thorough knowledge of mortgage governmental regulations. Detail oriented.

About M&T

At M&T, we strive to be the best place our employees ever work, the best bank our customers ever do business with and the best investment our shareholders ever make. So when looking to advance your career, look to M&T. As a top 20 US bank holding company and one of the best performing regional banks in the country, we offer a wide range of performance based career development opportunities for talented professionals. And through our longstanding tradition of careful, conservative and consistent management and a strong commitment to the communities we serve, we continue to grow with a focus on the future.