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VP, Affordable Housing and Construction Loan Processing Manager

4 months ago


Oakland, United States Beneficial State Bank Full time

SUMMARY

The Affordable Housing and Construction Loan Processing Manager (AHCLPM) is responsible for managing the processes, procedures, personnel, and loan documentation related to Loan Operations for Affordable Housing and Construction Lending. This includes working with senior management to help develop and implement new or updated affordable housing and/or construction products as needed. The AHCLPM works directly with the Loan Operations Manager to make recommendations for best practices and implement decisions as they are made. This position works independently and is responsible for affordable housing and commercial construction loans, including monitoring and disbursing the loan through the end of the project, working with counsel, loan documentation, production and maintenance of collateral & credit files, collateral filing and control, tickler entry and follow-up, loan system reporting, loan inquiry and problem resolution directly and in support of the affordable housing and construction loan processors. The AHCLPM will collaborate effectively with internal and external partners to facilitate the closings of all Affordable Housing and Commercial Construction Transactions, with a strong understanding of affordable housing subordinate financing programs including 9% taxable and 4% Tax Exempt LIHTC, Participation loans programs. Additionally, the AHCLPM assists in review of presented affordable housing and construction projects and helps lay out a best-practices implementation based on loan-specific needs. This incumbent will have expert affordable housing and construction loan documentation and processing skills and will be adept at self-identification and application of complex problem resolution, reading and understanding the credit memo, loan documents, and associated due diligence reports. This position will require reasoning, math, language, verbal and written communication, and the ability to manage multiple priorities. The AHCLPM will be a resource to other loan processors including training, loan document/file reviews and support in response to problem resolution.

ESSENTIAL DUTIES

CUSTOMER SERVICES

  • Establishes high-quality 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 construction-related 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 productivity and customer satisfaction.
  • Provides Loan review of other Loan Processor documentation and loan file due diligence.
  • Assists Loan Operations Manager with preparing and implementing standard procedures and training.

SUPERVISORY RESPONSIBILITY

The position of Affordable Housing and Construction Loan Processing Manager is responsible for the supervision of employee(s) as it relates to Affordable Housing and Construction Loan Processing and will work with the Loan Processing Manager for input on the employee’s annual review or other remediation work if necessary. As the Affordable Housing and Construction team grows the AHCLPM will have direct reports and will independently provide annual reviews and oversight to those employee(s).

MINIMUM REQUIREMENTS

  • 10+ years of Affordable Housing experience, 10+ years of construction loan management experience in addition to 10+ years of commercial loan processing and documentation; experience with LIHTC is required.
  • Ability to learn loan program applications.
  • Expert and independent experience working with counsel in preparation and negotiation of non-standard loan documents, especially as related to subordinate financing programs including 9% taxable and 4% Tax Exempt LIHTC, and Participation loans programs.
  • Working knowledge of Finastra LaserPro for commercial construction loans.
  • Understanding of compliance regulations pertaining to lending and general banking.
  • Advanced knowledge in Microsoft applications: Word and Excel.
  • Ability to communicate effectively both verbally and in writing with a variety of stakeholders.
  • Understanding of accounting principles.