Performs a variety of operational, loan processing, loan closing, loan servicing and quality control functions that are community development affordable housing/real estate loan, loan participation, loan pool and subsidy related.
Reviews construction and/or permanent loan (taxable), loan pool and FHLB Affordable Housing Program (AHP) subsidy documents for accuracy and completeness, while coordinating same with CDF Relationship Managers (RM/VPs) and legal counsel for loan closing, booking and loan servicing/portfolio management. Coordinates same for all other loan documentation needs, i.e.: loan extensions, modifications, loan participations, while providing portfolio management/loan servicing for construction loan draw and interest disbursement; along with maintaining credit file records of approvals, documents, disbursements, reports and instructional systems forms to ensure CRA and Regulatory compliance. Builds relationships with, and acts as a resource to internal and external partners (CDF, GLO, GDO, Credit, Treasury and Accounts Payable, client's, attorneys, construction consultants/inspectors, title/escrow officers).
CDF Construction Loan, Loan Participation, Loan Pool and AHP 1-Step Subsidy Closings - performs the following with minimal supervision, as new loan, loan participation, loan pool and subsidies are assigned by CDF Operations Manager for closing:
Monitors receipt of all loan closing due diligence for construction taxable loans, loan participations and AHP 1-Step subsidies, with the responsibility for establishing and maintaining/updating the applicable loan closing checklist; inclusive of monitoring all loan deposits and fees due initially, and upon loan closing.
Sets up and maintains all credit files, with proper file indexes, for ongoing filing of approvals, due diligence, appraisal and environmental reports, loan documents (SVB and junior debt, as applicable), title/escrow information, construction inspections, loan booking and advance forms with back up, to ensure audit ready files/data. Credit file set up includes initiating the underwriting and sponsor files for ongoing filing maintenance by the RM/VPs. Responsible for maintaining same in the CDF Shared Drive folders.
Reviews all loan documentation (construction loan agreements, promissory notes, deeds of trust and all other ancillary loan documents) and when applicable, reviews loan AHP 1-Step subsidy documents, loan pooling agreements and participation agreements, as prepared by external legal counsel, coordinating all recommended corrections/changes with counsel and RM/VPs. Ensures that all terms as approved by Credit/Loan Committee are represented accurately in all applicable loan, pooling, loan participation and subsidy documents/agreements. Coordinates receipt of all applicable executed documents with counsel upon loan, loan pool or participation closing
Reviews all client's legal entity documents (partnership agreements, LP1, LP2, articles of incorporation, bylaws, operating agreements, W-9s, etc.) and prepares the CDF Client Information File (CIF) Chart with full entity names, addresses, descriptions and ownership percentages. Completes the required CIF # requests in Bank's systems (CRM and though REMEDY) upon receipt and review of Client Profiles.
Assists RM/VPs in determining CDD Rule triggering events in order to comply with required forms and time lines for loan booking and/or MMA account opening. Provides guidance to RM/VPs and clients on the preparation and execution of Client Profiles and Non-Governmental Organization (NGO) forms for adherence to Know Your Customer (KYC) Bank policies and new Client Due Diligence (CDD) Rule.
Determines, based on loan approval and requirements in the loan or subsidy documents, the need for a Bank Restricted MMA account, and completes the required MMA account opening form for submission to GDO via REMEDY.
Engages construction consultant/inspectors by completing the construction consultant agreement for cost analysis and ongoing construction inspections, at the RM/VPs direction.
Reviews and approves of all applicable client and contractor insurance certificates (property, liability, workmen's comp, flood, etc.) prior to loan closing.
Orders Flood Determination Form in accordance with Reg H (Flood), providing guidance to clients for the acknowledgement execution of the required Flood Determination Form and any required Flood Insurance. Reviews and recommends for approval by the CDF Operations Manager any applicable Flood Insurance.
Reviews and approves of all applicable client contractor's payment and performance bonds, with dual obligee rider, prior to loan closing.
Reviews and reconciles clients closing draw, and determines with RM/VPs the funding source(s) upon loan closing for coordination with title/escrow company(s)
Prepares loan closing invoices for loan and/or AHP closing fees/expenses due to SVB, which are charged and collected from clients through escrow, as an attachment to the recording instructions. Assists legal counsel and RM/VPs with preliminary title report/Proforma title policy, endorsements and recording instruction reviews in order to ensure adequate title coverage and proper collection of fees/expenses due upon loan closing.
Prepares loan booking instructions to GLO, for new construction loans, loan pool commitments, individual pool loans and loan participations, inclusive of preparing the new loan set-up, fee/costing and wire forms for approval by the Senior Operations Officer or CDF Operations Manager, prior to submitting through REMEDY for Signature (CBS) loan/commitment booking. Ensures the accuracy of various loan booking forms to include correct loan amounts, fee amounts, loan and product types/codes, payment date and method, maturity dates, etc., as supported by the loan approval and loan documents. Performs an audit of data on CBS to booking instructions and forms provided to GLO, to ensure booking accuracy.
Sets up/establishes Tickler for ongoing monitoring of items outstanding and/or required by the loan approval and loan documents through loan, commitment and/or subsidy maturity.
Determines if loan is HMDA reportable for Reg C compliance, and if so, prepares HMDA worksheet, checklist and package for review and approval by CDF Operations Manager, for HMDA Lender's Application Register (LAR) reporting.
Processes for approval by CDF Manager, all loan related Invoices for payment through Accounts Payable, reconciling to tracked loan fees/expenses on the loan closing checklist, fee/costing sheet and escrow closing statements.
Embraces opportunities and takes ownership for the welfare of SVB and its CDF clients/borrowers and lending partner banks throughout the entire loan, loan pool and subsidy closing process.
Participates in meetings, trainings (inclusive of bank required compliance courses) and other duties or special projects as assigned by management
Works within established procedures, processes and/or applicable regulatory guidelines and utilizes authority matrix (CDF's Delegated Administrative Approval Authority (AAAs)) to determine level of approval authority for loan, loan pool and subsidy closings and disbursements. Independent judgment is minimal as decisions are predominantly guided by precedent or process; however, may make decisions not guided by precedent after accessing risk and coordinating recommendations with RM/VPs, Senior Operations Officer and/or CDF Operations Manager.
Routinely follows standard CDF procedures and processes when analyzing situations or data from which answers can be readily obtained and decisions implemented.
Has solid proven success in developing solutions to operational issues.
Has limited signing authority
Proactively provides recommendations or advice to RM/VPs and legal counsel to modify and/or ensure that transaction specific loan, loan participation, loan pool and AHP 1-Step subsidy documents reflect the approved terms and conditions, servicing best practices, and meet the client's construction lending needs.
Routinely recommends changes/corrections to client's construction draw packages, directly to/with client and/or participant banks.
Demonstrates ability to exercise judgement and serves as first level of escalation for non-routine issues and loan operation inconsistencies to Senior Operations Officer and/or CDF Operations Manager.
Makes recommendations to management to improve loan closing and construction disbursement procedures and processes including identifying solutions
Requires a general knowledge of real estate lending (commercial and/or affordable housing), Reg B (ECOA), Reg C (HMDA) and Reg H (Flood), community development finance/affordable housing lending practices and general loan audit/compliance policies and procedures.
Knowledgeable of, and proficient in, most functions, within the loan operations side of CDF, inclusive of Bank's core loan system (Signature/CBS), REMEDY and CRM; and Microsoft Office, Word and Excel.
Demonstrates good communication and is skilled at developing positive relationships when interfacing with internal partners, client/borrowers, city/agency co-lenders, legal counsel (internal and external), construction consultants/inspectors, title/escrow companies, and partner banks.
Adept at understanding and interpreting client inquiries.
Capable of explaining information in a clear and concise manner.
Exhibits attention to detail and strives for accuracy to ensure satisfactory audit/exam results.
Professional, thorough and organized with good follow-up skills.
Demonstrates good time management and prioritization skills.
Has good comprehension of policies, procedures, and applicable regulatory requirements.
Works well under minimal supervision and performs most tasks independently.
Excels in a team environment and proactively collaborates with others to serve CDF's clients.
Is Customer/Client focused, self-motivated, flexible, collaborative and fosters teamwork.
Demonstrates initiative, a commitment to continuous learning, and the ability to adapt to changing demands and requirements.
Bachelor's Degree or equivalent work experience preferred
Occasional travel will be required between the St Helena and San Francisco offices; and on rare occasions may be required to the Tasman or Tempe offices.