Construction Loan Coordinator Details

Construction Loan Coordinator

Waterstone Mortgage - Pewaukee, WI

Employment Type : Full-Time

The Construction Coordinator is responsible for ensuring the renovation and construction-related aspects of loan files are in compliance with all investor and product guidelines. In addition, this individual ensures that renovation and construction improvements are acceptably completed within the required time period.

• This position is eligible for the New Hire Employee Referral Program!

ESSENTIAL DUTIES AND RESPONSIBILITIES:

• Provide exceptional customer service to borrowers, builders, underwriters, sales managers, and loan originators.
• Assist with managing a “scenario desk” for all questions and concerns regarding the construction and renovation programs.
• Develop and maintain quality professional relationships with branch employees to ensure clear communication regarding the construction and renovation loan programs.
  
• Assist with the builder and contractor acceptance review process.
  
• Develop and maintain knowledge of policies and procedures related to residential construction and renovation lending.
  
• Complete project reviews on renovation and construction loans to ensure compliance with product and investor guidelines.
  
• Review and satisfy project review conditions on renovation and construction loans.
  
• Ensure construction and renovation loan files are set up appropriately in the LOS according to program requirements.
  
• Ensure that sufficient funds are held to complete all renovation and construction work.
  
• Work with third party draw administration vendor, Servicing and Accounting to release draw requests to the appropriate parties once all applicable documentation has been obtained.
  
• Monitor construction loan files to ensure construction is completed within required time period so that loan is salable to the end investor.
  
• Order appraisal updates/completion reports through the appropriate channel once construction is complete.

Waterstone Mortgage was recently named on Mortgage Executive Magazine's "Top 100 Mortgage Companies in America 2019" list! Our company culture is second to none and we pride ourselves on offering a full benefits package, including competitive pay, 401k match and PTO. To learn more about our exceptional work/life balance and employee engagement, visit our website, Facebook page, or Instagram!

Individuals in this position shall not engage in loan origination during the course of his/her employment with WMC. Loan origination is defined as (1) taking a residential mortgage loan application; or (2) offering or negotiating terms of a residential mortgage loan for compensation or gain; (3) advertising or communicating to the public that you can perform loan origination services. Please see the Loan Originator Compensation Policy for more details on the definition of loan origination.

Qualifications

Education

Required

High School or better.

Experience

Required

3-5 years: Experience in the mortgage industry and knowledge of the construction lending environment is required.

Preferred

1-3 years: Experience with a loan operating system, i.e. Encompass, is preferred.

Equal Opportunity Employer/Protected Veterans/Individuals with Disabilities

The contractor will not discharge or in any other manner discriminate against employees or applicants because they have inquired about, discussed, or disclosed their own pay or the pay of another employee or applicant. However, employees who have access to the compensation information of other employees or applicants as a part of their essential job functions cannot disclose the pay of other employees or applicants to individuals who do not otherwise have access to compensation information, unless the disclosure is (a) in response to a formal complaint or charge, (b) in furtherance of an investigation, proceeding, hearing, or action, including an investigation conducted by the employer, or (c) consistent with the contractor’s legal duty to furnish information. 41 CFR 60-1.35(c)