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Title

Residential Construction Loan Officer 

Description

At Allegacy, there’s a common thread that runs through all of us. It’s our commitment to doing right and our promise to members to always do the right thing for their wellbeing. Every employee in our organization is accountable to living out our brand in meaningful ways as our promise motivates our beliefs, our behaviors, and the benefits we share together. In order to achieve this state of success, this position is responsible for the consumer residential construction loan portfolio. The incumbent ensures that members receive timely and quality service and that deadlines are met. Additionally, this position assists in attaining Credit Union goals by developing new business and increasing or retaining new business by calling on potential or existing members as well as custom homebuilders. The position is responsible for the number of construction loans closed and serviced as well as ensuring the loans that are originated are of good quality meeting Allegacy underwriting guidelines and will be compliant with secondary market guidelines for the permanent mortgage in order to protect the assets of Allegacy.

Specific Accountabilities

  • Responsible for exceptional member service to every member, every time by delivering consistently high quality service to both internal and external members that is in alignment with our Brand Culture
  • Demonstrate enthusiastic support of corporate mission, core values and long-term objectives. Performs job duties within our bylaws, regulations, Board of Directors policies, established internal and external service standards and our work procedures
  • Must possess effective knowledge of the credit union’s products and services
  • Responsible for the oversight of the residential construction lending program, which includes on-going product development and recommendations to Management of product enhancements to the program/product/pricing execution to maintain a competitive presence in our geographic marketplace in addition to meeting annual loan production goals.
  • Meet with members to discuss our construction lending program, assess their needs and make recommendations to assist them when they are ready to make application
  • Responsible for obtaining documentation from the member and third party vendors throughout the construction period of the loan. This position is responsible for hands-on management of the loan, including managing site inspections, draw request analysis/processing and budget analysis/oversight
  • Responsible and accountable for a thorough review of construction required documentation, including but not limited to, Construction Contracts, building plans and specifications, surveys, elevation certificates, percolation tests, deeds, builders’ risk insurance policies, etc. ensuring all documentation supports the construction loan parameters and minimizes risks to the credit union
  • Identify critical risks or project setbacks through careful analysis of submitted documentation, such as budget allocations, title documentation, site inspections, etc. Work with contractors, vendors, inspectors, attorneys and member to acquire necessary documentation and resolve any project issues that arise
  • Communicate with management and member regarding any deficiencies or issues discovered during analysis of all submitted documentation to ensure completeness and accuracy of all documentation supporting the loan
  • Manage a current contractor database to ensure all licenses and insurance documentation are up-to-date
  • Perform all contractor due diligence activities required to minimize any risks to the credit union and the member
  • Responsible for periodic site inspections of collateral during the construction phase, including initial site inspection of prospective collateral to assess any risks to the credit union
  • Manage the construction draw processes with the member, contractor and internal processes in conjunction with ordering inspections for draw requests
  • Responsible for servicing the construction portfolio ensuring billing notices are generated and delivered in a timely manner, application of interest only payments are posted and perform any collection activities pursuant to delinquent monthly payments
 
Position Requirements

Knowledge, Skills and Abilities

 

  • High level knowledge of construction loans/lending processes and construction-permanent loan rules and guidelines with the ability to apply the rules and guidelines appropriately
  • Maintain current knowledge of secondary market loan guidelines to ensure the permanent loan meets saleability requirements
  • Ability to generate construction originations from internal channels and externally from our business partners
  • Strong analytical skills to synthesize complex or diverse information; uses intuition and experience to compliment data analysis
  • Displays willingness to make decisions; exhibits sound and accurate judgment
  • Understands business implications of lending decisions; displays orientation to profitability
  • Displays original thinking and creativity; meets challenges with resourcefulness; develops innovative approaches and idea
  • Aligns work with strategic goals of the department and organization
  • Strong business development skills with partners in the construction industry and ability to grow our relationships with contractors in our marketplace
  • Exhibits strong team collaboration skills
  • Writes clearly and informatively
  • Proficiency with computers as well as pertinent software packages, loan information systems and internet applications
  • Ability to work independently and also collaborate as a team player

 

Education and Experience

  • Five years’ experience with production of construction loans
  • Extensive management and business experience required
  • Four Year degree in finance or business preferred

Our workforce is required to be fully vaccinated for Covid-19, with only very limited exemptions for legally recognized medical reasons or sincerely held religious beliefs.

 
Full-Time/Part-Time Full-Time  
Close Date  
Exempt/Non-Exempt Exempt  
Location Allegacy Federal Credit Union - Headquarters  
About the Organization Do you get a thrill out of helping people realize their dreams? Do you believe that strong, personal relationships are critical to financial success? Do you want to work for an organization that has its community's best interests at heart? We do, too. That's why we work for Allegacy. Here, you'll find a challenging, rewarding career in one of the most unique entities of the financial industry. Allegacy Federal Credit Union is a place where inclusion and camaraderie thrive, and where everyone is united in their commitment to serving our members.

 
EOE Statement We are an equal employment opportunity employer. All qualified applicants will receive consideration for employment without regard to race, color, religion, gender, national origin, disability status, protected veteran status or any other characteristic protected by law.  
Pay Grade


This position is currently not accepting applications.

To search for an open position, please go to http://AllegacyFederalCreditUnion.appone.com



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