Rehab Escrow Coordinator

Job Description

Job Description

REHAB ESCROW FACILITATOR

COMPENSATION: $45,000 - $60,000. 

FLSA: Non-Exempt

LOCATION: San Antonio, TX

CONTACT: View email address on ziprecruiter.com

BENEFITS: Comprehensive package: single/family health, vision, dental, 401(k) and more

WEBSITE: 

REHAB ESCROW FACILITATOR

The Rehab Escrow Facilitator (“REF”) works in NACA’s Home and Neighborhood Development (HAND) Department located in San Antonio, Texas working primary with low-to-moderate income homebuyers and revitalizing communities nationwide. The REF is responsible for the processing and management of Rehab Escrow transactions and are the Members primary point of contact after the loan closes and until all work is successfully completed. Rehab Escrow funds are held by the lender to be disbursed for completed work for specified scope of work and rehab budget. 

The REF works directly with Members providing oversight and guidance throughout the Rehab Escrow process. S/he collaborates with the Members, contractor(s), draw inspectors and the lender to document work progress, process draw requests and inspections, authorize payment disbursements, manage rehab escrow balances, project ledgers, and close outs. S/he communicates with the Members and their approved contractor(s), educating Members, vendors, and others about HAND’s post close Rehab Escrow processes and policies. The REF works in a timely and effective manner ensuring department goals and metrics are being met as set by NACA management. S/he ensures compliance with the escrow agreements and project timelines. If Members fail to meet program requirements or timelines, the REF implements default actions as defined in the rehab agreements.

The REF oversees a pipeline of 75+ closed rehab Members. S/he must contact many Members daily conducting multiple reviews, confirming funds with the lender, preparing or updating ledgers, reviewing draw inspections, collecting signed project forms, authorizing payment disbursements, clearing lender conditions, reconciling funds resulting from project change orders and eventual escrow close out requests. The REF works directly with the lender’s construction lending team maintaining regular reporting of all open accounts, setting up new vendors, providing supporting documentation of all project work and addressing aged account reviews. 

The responsibilities include, but are not limited, to specific responsibilities described below. 

• Rehab Escrow Confirmation and Account Set Up
• Prepare and Maintain Project Ledgers.
• Project Inspections - Assign Project Inspector and Facilitate Regular Inspections
• Review and Process Draw Inspections - Determine payment authorization based on the percentage of work complete with deduction for holdbacks and verified material purchases. 
• Authorize Disbursements - Determine the agreed upon amount to release to contractor for partial or full and final payment.
• Collect and Maintain Accurate Records of Project Documents
• Vender Set-Up - Confirm that license, insurance and W9 are current and submitted to Lender for future payment disbursements.
• Lien Waivers - Receive and confirm accurate lien waiver in amount of payment release for partial or final payments.
• Payment Verification - Accurate accounting of monies applied to each contract agreement supporting total amount of funds due contractor at completion of work.
• Accounting Ledger – Maintain accurate and detailed ledger of the Rehab Escrow balance for all approved contractors, including contingency amounts, until the scope of work is completed, and the escrow account is closed.
• Project Disputes - Work with management and legal department regarding project disputes.
• Process Change Order Requests
• Facilitation Default Notices and Actions
• Schedule Project Meetings
• Close Out Projects
• Review of Open accounts – Conduct bi-weekly review of open accounts and contact Member when a project becomes inactive.
• Education - Members are informed of and prepared for the rehab process from inspection to post close project and payment management. Also provide such information to vendors, NACA staff, R.E. Agents, and others about HAND policies and procedures.
• Support Vendors
• Maintain Accurate Project Reports – Obtain regular project updates until project complete.
• Project Complete – Complete rehab projects within contract agreement dates but not to exceed six (6) months from the closing date or 12 months with management exception due to extenuating circumstances.
• Aged Reports – Provide reports including Aged Account Report on status on all aged files over six months old, status report and others as requested.

Office Standards & General Requirements:

• Maintain NACA customer service standards, working in positive professional manner at all times.
• Answer phone calls promptly and professionally, returning all voicemails the same day but no later than next business day.
• Conduct daily appointments in prompt and professional manner as scheduled, documenting all communications and task requirements within the Member's file narrative per appointment policies.
• Inform and prepare Members for the HAND rehab process from the point Members are assigned, until the rehab escrow account is closed.
• Provide ongoing vendor support, document processing and file updating of all ongoing communications. 
• Work closely with HAND Management to support Members, vendors, office, and program requirements.
• Provide completed detailed narratives within NACA-Lynx system.
• Confirm and complete all scheduled appointments.
• Follow-up with Members, Vendors, Lender, NACA staff and others.
• Additional duties may be required such as evaluation reports, repair waiver requests, work write ups, re-inspections and seller invoice review, and any other duties. 

T IM E DEMANDS

The REF must be able to meet the demands of the job that consists of 40 to 50 hours per week with overtime as required and approved. Typical working hours are 8:30 a.m. to 6:00 p.m. Monday through Friday. Based on performance, volume and workload, weekend and evening work may be required to complete tasks ensuring project timetables are met. NACA reserves the right to modify work hours by changing hours, shifts, and/or requiring weekend work. Such modifications may occur on short notice including during an existing shift. Travel may be required as determined by management but not common.

COMPENSATION

The compensation is based on experience, skills, performance, and certifications. The annual salary is between $40,000 and $50,000 with overtime with total annual compensation between $45,000 to $60,000. The candidate’s performance evaluation and future compensation is largely based on meeting the job responsibilities, competencies and skills stated herein. 

This is a non-exempt position, with eligibility for overtime pay for hours worked over 40 in a work week. The fixed weekly salary covers all hours worked each week even though the hours may vary from week to week. Overtime is computed based on the fluctuating work week (“FWW”) method, subject to any local law requirements. 

• Fixed Weekly Salary for All Hours Worked: The fixed salary is intended to compensate for all hours worked during the work week regardless of variations in the hours. 
• Overtime: For all hours worked over 40 in a work week, payment will be additional overtime compensation. When overtime is owed, it will be computed by dividing the weekly salary by the number of hours worked that week, to determine the “Regular Rate” for the week. Additional overtime pay will then be calculated and paid by taking half of the Regular Rate and applying it to all hours worked over 40 in the week. 
• Accurate Timekeeping Required: You must accurately record and timely submit all hours worked each day and each workweek. 
• No Guarantee of Hours: NACA does not guarantee any minimum or maximum number of hours. The fixed salary is compensation for the total hours worked each work week regardless of the number of hours.

WORKING CONDITIONS

This position includes:

• A fast-paced work environment.
• Frequent interaction with Members, staff, community partners, and lenders.
• Occasional evening and weekend work.
• Extended work hours during events or advocacy campaigns.
• Office based position with low physical demand, with constant computer use. 

MISSION COMMITMENT

NACA employees are expected to actively support the organization's mission of expanding affordable homeownership, addressing housing inequities and systemic racism, reducing the racial wealth disparity gap, stabilizing neighborhoods, and advocating for economic justice. NACA requires staff to adhere to and participate in NACA’s advocacy, campaigns, events, outreach, community organizing, actions, voter registration, and other activities as determined by NACA. This is also important for NACA’s continued success and in expanding NACA’s purchase and other programs. NACA staff have a tremendous impact on the Members and communities they serve. 

KNOWLEDGE, SKILLS & ABILITIES

NACA seeks staff with a positive and open attitude, a strong work ethic and relentless commitment to success with attention to detail and ability to meet aggressive deadlines and ambitious goals. S/he is expected to have a high level of core competencies and skills as stated below and described in detail at 

• Commitment to NACA's mission of economic justice and neighborhood stabilization.
• Strong analytical skills with ability to review complex financial documentation.
• Excellent time management skills with ability to meet the metrics, daily production requirements, and department goals set by management while maintaining high quality standards.
• Strong communication skills, written, verbal and listening, with ability to clearly explain complex requirements and provide comprehensive professional narratives.
• Strong computer literacy with proficiency with technology platforms including Microsoft Office, NACA’s Members Portal, and documentation management systems.
• Understanding of and commitment to fair housing principles and NACA's approach to overcoming systemic barriers to homeownership.
• Ability to maintain a high degree of accuracy in obtaining information and data entry.
• Ability to work in a demanding environment with regular interruptions. 
• Strong work ethics.
• Excellent interpersonal, communication and critical thinking skills
• Effective problem solving skills,