Vp, Affordable Housing and Construction Loan

2 weeks ago


Los Angeles, California, United States Beneficial State Bank Full time

Who we are:

Beneficial State is one of only a handful of B-Corp banks in the nation and one of the highest-rated B-Corps on the planet.

That means that we subscribe to a rigorous evaluation standard that measures our positive impact, not just our profitability.

We demonstrate how a bank can combine social equity, environmental sustainability, and business stability to create a better financial system - a system that drives inclusive prosperity to benefit people and the planet.

#BCorp #WeAreBCorps

SUMMARY

ESSENTIAL DUTIES

CUSTOMER SERVICES

  • Establishes highquality customer services environment for both internal and external customers through a courteous, friendly attitude and professional appearance.
  • Receives, researches and responds promptly to questions from customers and bank personnel.
  • Develops and maintains strong and positive communications with bank personnel in all locations.
  • Communicates policies and procedures to customers and bank personnel in a clear manner.

LOAN CLOSING PROCESS AND PROJECT MANAGEMENT

  • Maintains a high level of organization and proficiency in the collection and review of due diligence associated with closing and managing affordable housing construction and permanent loans, as well as commercial construction loans, ensuring all required documentation is complete, accurate and compliant with program guidelines and regulatory requirements including those set forth by government agencies.
  • Helps lead the borrower, related parties, and the bank's client team through the affordable housing construction and permanent loan closing process from beginning to end. Collect and file constructionrelated due diligence materials for permanent financing Forward Commitments.
  • Reviews affordable housing and commercial construction documentation requests to ensure Bank policies and procedures are followed and ensures receipt of proper approval prior to documenting loan and reports any discrepancies on the Credit Memo. Conducts introductory call to borrower and prepares/sends Closing Checklist detailing documentation required for loan closings.
  • Performs quality control checks on loan documents and data to ensure accuracy, completeness, and consistency throughout the closing process.
  • Processes complex due diligence requirements independently for researching and perfecting collateral and other requirements. Orders and obtains required due diligence reports, secures collateral with escrow and title companies; obtains all insurance as appropriate inclusive of flood determination and insurance; UCCs, title, entity verification and obtains all other information required for proper documentation and collateral perfection.
  • Prepares and exhibits expertise on the content of affordable housing and construction loan closing documents consistently and answers customer generated questions. Provides first level of assistance to Underwriters and Relationship Officers and assists in structuring loan proposals; elevating to Loan Operations Manager when appropriate.
  • Resolves issues independently that may arise during the closing process and request assistance when needed.
  • Manages productivity by ensuring proper communication with borrower, general contractor, counsel, title companies and vendors.
  • Manages the project through completion, including but not limited to maintaining project funding spreadsheet, balancing to loan system, ensuring interest payments are made, reviewing contractor invoices and soft costs, reviewing site inspection reports for accuracy and process of the project as well as relaying any unforeseen issues to credit and management.
  • Maintains loan tickler items.
  • Monitors loan general ledger customer deposits for accuracy and balances expense log.
  • Understands and codes loans to ensure loans are reported accurately in Bank Call Report, and in all other Credit Administration Reporting formats.
  • Performs other duties as assigned.

PROCESS AND TEAM MANAGEMENT

  • Provides oversight, training and support to Loan Processors related to affordable housing and construction loans and products.
  • Provides loan review of Loan Processor documentation and loan file due diligence.
  • Assists Loan Operations Manager with preparing and implementing standard procedures and training related to affordable housing and construction loans.

LOAN COMPLIANCE

  • Understands regulatory issues that may impact new loan requests, OFAC, RegB & HMDA
  • Ensure compliance with all state and federal regulations and internal company policies, including but not limited to BSA/Anti-Money Laundering, Fair Lending, Privacy, and Anti-Discrimination, to the extent each applies to current job responsibilities.
  • Completes all online compliance training as assigned within specified due dates.

SECONDARY DUTIES

  • Assists with developing or requesting new report formats as needed.
  • Identify opportunities to streamline and improve the loan closing workflow, implementing best practices and efficiencies to enhance


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