Eastman Credit Union is seeking a Construction Loan and Collateral Coordinator. The Construction Loan and Collateral Coordinator is responsible for servicing of Commercial and Residential Construction Loans during the construction phase and until conversion of loan to conventional loan status. Coordinates inspections to determine monies available for each draw/disbursement request and coordinates surveys or other duties. Reviews estimate of Cost to Build for reasonableness for Credit Administration and Commercial Lenders. The position will also be responsible for collateral reviews for the department and assist in preparing annual reviews for business borrowers. Responsible for the review of residential, commercial, and other appraisals for the department. Responsible for maintaining reports on Cap Rates and spreading financial data contained in appraisals for analysis. The position will also keep track of financial document, annual credit review, and collateral review ticklers for the department and will maintain reporting for the department and send out information on a regular basis. Responsible for local collateral inspections on collateral and will order collateral inspections for out of area collateral.

Essential Duties and Responsibilities include the following. Other duties may be assigned.
• Review residential and commercial appraisals for accurate information and spread income approach for commercial appraisals for loan decisioning by underwriters.
• Responsible for assisting the Credit Administration Manager in developing the list of qualified construction inspectors used by ECU to perform inspection services.
• Develops or assists with development of procedures designed to ensure that the quality of appraisals are reviewed for accurate and correct information and inform lenders, Collateral Valuation, and others if review of appraisals are incorrect or are missing information.
• Perform independent appraisal review with documentation outside of Collateral Valuation review that is part of the loan file for each loan that requires an appraisal.
• Manages the periodic monitoring of all ticklers in the loan origination and reporting systems. This includes monthly, quarterly, annual and bi-annual tickers for financial documents, annual reviews, and collateral inspections. Updates ticklers in the system and adds new ticklers as new loans are originated.
• Monitors and tracks commitment letters for new ticklers and files as appropriate.
• Provides updated reports to help Credit Administration Manger, Senior Management, and the
department understand tracking and clearing of ticklers for all loan officers and the department.
• Follows established procedures and controls to ensure independence in the development, administration, and maintenance of the list of approved inspectors and responsible for assisting the Credit Administration Manager in developing the list of qualified inspectors used by ECU to perform inspection services.
• Orders collateral inspections for out of area reviews with appropriate channel and files the invoice for payment with accounts payable when received.
• Perform local collateral inspections by taking photographs and detailing state of the collateral in credit administration collateral review forms and filing in loan management system.
• Assists with periodic monitoring of all inspectors performance and credentials.
• Build and monitor commercial and/or residential construction budgets and identify financial risks.
• Interact with borrower/contractor clients for receipt; ordering and review of construction draw requests.
• Coordinate with inspectors to arrange for inspections of work site for construction loans.
• Keep members updated and contractors updated with status and progress of draw requests.
• Work with outside inspectors and maintain reports to assure inspections are received in a timely manner and meet internal guidelines.
• Work with members and contractors to resolve questions and/or concerns during the draw period.
• Assist Loan Officers and Credit Administration with orders, verification and file requirements throughout the loan process.
• Reviews construction loan budget (cost to build) for commercial loan officer to ensure budget is reasonable and allowances are made for all critical items. Servicer indicates approval that budget can be built and is reasonable for underwriter.
• Enters budget in construction servicing software
• Process draws/disbursements for members during construction phase
• Monitor loan disbursements against available funds and maintain balance of loan
• Document draws/disbursements using tracking system and assure reserves are maintained to convert loan to permanent loan status.
• Ensure manager is made aware early on of any problems that may arise during constructions phase with funds available and assist member with resolutions
• Coordinate and be proactive in assisting member with resolution to spot survey problems
• Determine when members may need to come back in to discuss status of construction funds in situations of overruns and shortage of funds available.
• Assure all documentation is obtained/filed at end of construction and upon completion of the project.
• Convert loan from construction status to permanent loan in Core System
• Perform all necessary steps to prepare loan for servicing as permanent loan
• Prepares invoice from building inspector and others for payment.
• May be assigned other duties to assist other members as needed.
• Assist with the Audits and Examinations of the department and give access to electronic and paper copies of construction files.
• Assist and prepare annual reviews for commercial construction and commercial real estate loans.
• Assist with various business loan duties such as balancing General Ledgers and working on reporting for the department.
• Identify and manage risks within the department
• Other duties as assigned.

Associate's degree (A. A.) or equivalent from two-year college or technical school; or six months to one year related experience and/or training; or equivalent combination of education and experience.