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Construction Disbursement Specialist

Company: Disability Solutions
Location: Phoenix
Posted on: July 9, 2024

Job Description:

Job Title:Construction Disbursement SpecialistLocation:CityScapeWhat you'll do:The Construction Disbursement Specialist is responsible for the disbursement process on all construction loans while mitigating the bank's risk during the construction process. The duties include but are not limited to reviewing loan budgets and new loan setups, evaluating draw packages, understanding loan documentation, working with various departments relating to draw funding, tracking collateral movement and managing post-construction processes to ensure the bank satisfies its responsibilities in regard to the collateral. This person works closely with lenders, construction risk managers, borrowers, title companies, voucher control companies, and third-party vendors. Assists staff with problem resolution and deciding when to elevate an issue.What we are looking for:

  • Orders third-party cost/construction reviews.
  • Schedules pre-construction meetings with the general contractor, borrower, voucher company, and Construction Risk Administration.
  • Serves as liaison between loan closers, underwriters, Relationship Managers and Construction Risk Administration both prior to boarding loans to provide input on loan structure, how construction draws will be processed and how the collateral will be monitored post-closing.
  • May provide input to origination staff on construction administration language for loan documents and title insurance coverage issues.
  • May monitor and fund on a variety of loans including real estate subdivision loans, commercial construction, borrowing base, build to rent and negative pledge loans.
  • Orders and reviews construction-oriented title endorsements as outlined in the lender's closing instruction letter and/or loan agreement.
  • Notifies loan officers and management of liens, project budget issues, or other conditions that increase the bank's risk.
  • Provide backup to peer disbursers and/or servicers. May require additional tasks such as quoting payoff demands, processing payments, and preparing partial releases of collateral.
  • Responsible for preparing and organizing loan draw packages, ensuring quality, completeness and accuracy, prior to submitting to the scanning department for upload
  • Performs other duties and participates in special projects as assigned by management.What you need to have:
    • High school graduation or GED
    • 2-4 years of experience in commercial real estate construction lending with an emphasis on the disbursement process
    • Experience in fund control, construction industry practices, and construction fund control software programs
    • Real Estate development, home building, general contracting experience
    • Knowledge of mechanics of liens processes and remediation.Benefits you'll love:We offer all the important things you'd want - like competitive salaries, an ownership stake in the company, medical and dental insurance, time off, a great 401k matching program, tuition assistance program, an employee volunteer program, and a wellness program. In addition, you'll have the opportunity to bolster your business knowledge, learning the ins and outs of how successful companies operate and manage their finances, giving you invaluable hands-on experience to help grow your career!About the company:Western Alliance Bank is a wholly owned subsidiary of Western Alliance Bancorporation. Alliance Bank of Arizona, Alliance Association Bank, Bank of Nevada, Bridge Bank, First Independent Bank, and Torrey Pines Bank are divisions of Western Alliance Bank; Member FDIC. AmeriHome Mortgage is a Western Alliance Bank company.Western Alliance Bancorporation is committed to equal employment and will consider all qualified applicants without regard to race, sex, color, religion, age, nation origin, marital status, disability, protected veteran status, sexual orientation, gender identity or genetic information. Western Alliance Bancorporation is committed to working with and providing reasonable accommodations for individuals with disabilities. If you are an individual with a disability and require a reasonable accommodation to complete any part of the application process and/or need an alternative method of applying, please email or call 602-386-2488. When contacting us, please provide your contact information and state the nature of your accessibility issue. We will only respond to inquiries concerning requests that involve a reasonable accommodation in the application process.-- Western Alliance Bancorporation

Keywords: Disability Solutions, Phoenix , Construction Disbursement Specialist, Professions , Phoenix, Arizona

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