Construction Loan Specialist - Hermitage, PA at F.N.B Corporation in Hermitage, Pennsylvania

Job Description:

Primary Office Location:

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Position Title: Construction Loan Specialist

Business Unit: Mortgage Administration

Reports to: Manager of Construction Loan Servicing

Position Overview:

This position is primarily responsible for managing the construction loan disbursement process on residential construction loans. The incumbent is responsible for approving loan disbursement requests submitted by borrowers during the construction phase, verifying information supplied by the builder, approving the builder to be placed on the F.N.B. Approved Builder list and preparing the loan modification documents at the completion of construction.

Primary Responsibilities:

Reviews and verifies builder information in order to be included on either the F.N.B. Regular Approved list or F.N.B. Preferred Approved list and analyzes builder assets, liabilities and references to determine potential risk to the borrower and to the corporation.

Reviews and approves construction loan disbursement requests made by the borrower or the builder, determines if amount requested is reasonable based on work completed, as noted by the appraiser, and works very closely with the borrower, the builder, the appraiser and other entities during the construction phase to facilitate a smooth construction project.

Prepares the loan for modification at the end of construction by preparing the modification agreement, calculating the unpaid principal loan balance, determining the amount necessary to satisfy escrow requirements, calculating the interest due, the due date for the next payment, activating Private Mortgage Insurance (PMI) and entering the PMI information into Fiserv Premier.

Creates construction loan documents as needed when the correct document does not exist by customizing payout schedules, indemnification agreements or any other specialty document required by unique circumstances of the building project.

Initiates or approves wire transfers for the department as needed. May cut checks or approve wire transfers for approved construction loan disbursements. Manages and enters 1099 information into Fiserv Premier for disbursements made to contractors by keeping records of all disbursements made to contractors.

Identifies upcoming trends, changes in local and state construction codes and ensures that builder are following codes as set forth. Assists in creation and modification of residential mortgage construction programs and products.

Performs other related duties and projects as assigned.

All employees have the responsibility and the accountability to serve as risk managers for their businesses by understanding, reporting, responding to, managing and monitoring the risk they encounter daily as required by F.N.B. Corporation's risk management program.

F.N.B. Corporation is committed to achieving superior levels of compliance by adhering to regulatory laws and guidelines. Compliance with regulatory laws and company procedures is a required component of all position descriptions.

Minimum Level of Education Required to Perform the Primary Responsibilities of this Position:

High School or GED

Minimum # of Years of Job Related Experience Required to Perform the Primary Responsibilities of this Position:

3

Skills Required to Perform the Primary Responsibilities of this Position:

Detail-oriented

Excellent communication skills, both written and verbal

Excellent organizational, analytical and interpersonal skills

Ability to use general office equipment

Ability to use a personal computer and job-related software

MS Word - Basic Level

MS Excel - Basic Level

MS PowerPoint - Basic Level

Continuing education relative to state and local building codes.

Licensures/Certifications Required to Perform the Primary Responsibilities of this Position:

N/A

Physical Requirements or Work Conditions Beyond Traditional Office Work:

N/A