FHA Construction Loan Administrator at Boston

Job Description

Workway is a premier national staffing firm that places qualified job-seeking candidates across the nation in direct hire, temp-to-hire and temporary positions across a variety of specialized fields. We pride ourselves in offering a candidate-centric model to assist job seekers in finding their next career opportunity.

Currently, we are seeking a highly motivated FHA Construction Loan Administrator for a full service full service real estate investment manager with a 40 year track.  This position is a DIRECT HIRE position.  The primary responsibility of the FHA Construction Loan Administrator is to coordinate loan draws at closing and during construction as part of construction loan products such as FHA 221d4, Freddie Mac TAH, and Fannie Mae Mod Rehab loans. 

To Qualify for this position, you must have:

A minimum of 3 years of construction lending

Current working experience of FHA loans in commercial real estate
Multifamily commercial experience

 

The position will assist the Director of Physical and Construction Risk Management in negotiating and facilitating loan closings and loan deliveries, as well as to manage the entire construction loan administration process, for loans originated under the FHA multifamily programs, and to ensure compliance with all FHA/HUD/Ginnie Mae requirements and regulations.  The role is to represent Company in all dealings with the borrower and/or their representatives, closing attorneys, originators, brokers, underwriters, title companies and FHA/HUD/Ginnie Mae personnel.

Primary Responsibilities:

• Organize loan closings and all Ginnie Mae security deliveries for FHA insured multifamily and healthcare loans;
• For construction or substantial rehabilitation transactions, administering construction period insured construction draws and related Ginnie Mae security deliveries, as well as all other related matters, including but not limited to review of change order requests, escrow release requests, and permissions to occupy, culminating in final endorsement;
• Manage the FHA servicing and asset management throughout the construction term of the loan, as necessary.

Job Requirements

General responsibilities include:

 

• Must maintain current knowledge of HUD/FHA/Ginnie Mae requirements to ensure compliance with any and all such requirements including but not limited to those related to loan closings, security deliveries, and construction loan administration;
• Loan file set-up and maintenance;
• Review of HUD firm Commitments, subsequent issuance of commitment to borrower, and satisfaction of any closing conditions related thereto;
• Preparation of various HUD forms and submission of same to HUD, whether by hard copy or electronically through GinnieNet;
• Coordination with borrower and their counsel, lender’s counsel, title company, and various HUD personnel to facilitate closings and deliveries;
• Calculation of any escrow requirements, and preparation of settlement statements;
• Process, submission and monitoring of all Ginnie Mae security deliveries for both construction loan and project loan securities; and coordination with warehouse lenders and third party investors to ensure successfully security deliveries;
• Collaboration with borrowers, underwriters, contractors, architects, and HUD personnel to review and obtain construction draw requests, disburse funds, process change orders, and any other matters that may arise during the construction phase. 

 

 

Ongoing Additional responsibilities:

 

• Develop/update and implement FHA processes and procedures for closing and servicing/asset management, particularly as it relates to construction loan administration.

 

 

Training Opportunities:

 

• Participate in HUD/FHA/MAP training opportunities, on an ongoing basis, as needed;
• Potential for cross-training with regard to closing other agency business, including the Fannie Mae and Freddie Mac multifamily lending programs;

 

To learn more about this and other job opportunities, please contact 760-438-0900 and ask for Cressan Trenhaile or for immediate consideration, please email your resume

[Click Here to Email Your Resum].

Please click on the link below and join our Talent Network. This will allow you to receive updates on all our job opportunities that match your skills.   http://www.jobs.net/jobs/workway/en-us/

Country: USA, State: Massachusetts, City: Boston, Company: Workway.