The role of Construction Loan Administrator is critical to the success of the entire process. The role includes helping to close the transaction, facilitating the disbursement of funds, and coordinating hands-on management of the loan portfolio. The job requires the ability to work independently and escalate any issues or concerns to Management. Additional duties may include completing spreadsheets, performing timely inspections, reviewing budget analysis, and evaluating third-party reports and documentation. The role also requires experience closing loans and participating in non-routine activities, such as improving existing software systems or adding new ones.
A construction loan administration service provider will take the time to review the documents submitted by borrowers and lenders. This will eliminate manual paper collection, which reduces the chances of an error in loan administration. With a single, comprehensive database, users will be able to see all files and can easily access information. All files will be clearly and accurately represented. This helps ensure that lien releases are always signed and submitted on time. Further, the software integrates with Commercial Real Estate Analysis, a powerful tool for the management of commercial properties.
In addition, construction loan administration involves thorough review of all documents submitted by borrowers. A Constructi