Construction Loan Draw Specialist

Job Description

Under general supervision, the Construction Draw Specialist with PlainsCapital Bank assists in all aspects of loan draw processing for residential homebuilder and commercial construction borrowers. Reviews client draw requests and ensures requests are in line with internal and external regulations prior to processing the release of funds to clients. The Construction Draw Specialist will engage with external vendors including third-party inspectors, surveyors, and title companies to gather project data and will input data into the draw monitoring system.

Responsibilities

1. Monitors construction draw pipeline for residential homebuilders and/or commercial construction loans. Performs general maintenance on loan accounts and ensures supporting documentation is uploaded into the monitoring system.
2. Inputs budgets and schedules in draw monitoring system according to loan approval and supporting construction documents.
3. Orders and reviews inspection reports, including final inspections, and surveys; ensures that project inspections are in line with draw request. Updates project completion progress in draw monitoring system in accordance to inspections.
4. Reviews draw requests and borrowing base requirements to ensure appropriate approvals are secured and internal requirements are met. Verifies availability of funds prior to release.
5. Reviews loan for outstanding past due payments. Ensures draw funds are held until past dues are resolved.
6. Prepares loan advances and wires for completing construction draws.
7. Communicates with lenders, lending assistants, borrowers, vendors, and other lending stakeholders on draw requests, including status updates, discrepancies, or any issues encountered when reviewing requests. Engages appropriate party to resolve discrepancies.
8. Monitors exceptions on draw requests and coordinates with lending staff and borrower to clear exceptions.
9. Monitors key loan account data such as down date endorsement requirements and construction loan binder extensions; documents data changes within the draw monitoring system.
10. Tracks borrower equity injection reports to ensure project is in line with loan approval guidelines/requirements.
11. Generates reports related to draw pipeline and provides to loan operations management.
12. Additional duties and responsibilities as needed.

Qualifications

• High School diploma, general education degree (GED), or equivalent required.
• Minimum 2 years of lending/loan administration experience. Strong preference for previous experience with construction draw servicing or related construction industry experience.
• Knowledge of construction disbursement servicing system a plus.
• Excellent PC skills, including word processing and spreadsheets via Microsoft Office products as well as custom applications and systems.
• Excellent verbal, written and interpersonal communication skills.
• Excellent analytical, time management, organizational and problem-solving skills with the ability to multi-task and produce error-free work in a deadline-driven environment.
• Must be self-motivated with strong attention to detail and accountability.

The above statements are intended to describe the general nature and level of work being performed by individuals in, or assigned to, the above position and are not intended to be construed as an exhaustive list of all responsibilities, duties and skills required, and may be changed at the discretion of the Company.

About Us

PlainsCapital Bank was founded in 1988 by a group of young bankers who dreamed of bringing relationship banking to their hometown of Lubbock, Texas. With the acquisition of Plains National Bank, a Lubbock financial institution with one branch and approximately $198.8 million in assets, they began growing the bank one relationship at a time.

Over 30 years later, PlainsCapital Bank has held fast to its tried-and-true relationship-based culture and its commitment to financial strength and stability. PlainsCapital Bank ranks sixth among the largest banks headquartered in Texas by deposits and has a statewide presence with approximately 55 locations in markets such as Austin, the Coastal Bend, Dallas, Fort Worth, Houston, Lubbock, the Rio Grande Valley, and San Antonio. Backed by decades of experience, our knowledgeable bankers are renowned for their straightforward approach and for taking exceptional care of their clients. They bring both financial and industry expertise along with vast local market knowledge to each client relationship.

PlainsCapital Bank conducts both commercial and consumer banking, providing a full suite of commercial banking products and services to fit any business model and convenient services, personal attention, and account features to help simplify managing personal finances.

PlainsCapital Bank continues to remain strong and stable, delivering highly personalized service and a single point of contact to help customers reach their financial goals.

To learn more, please visit us online at plainscapital.com/about.