Draw Administrator Analyst (REMOTE) in USA in Flagstar Bank
Job title: Draw Administrator Analyst - (REMOTE)
Company: Flagstar Bank
Job description: Position Title Draw Administrator Analyst - (REMOTE)
Location Work From Home United States
Job Summary This position is the liaison between the borrower, builder and possibly the draw administration vendor. The individual will be responsible for issuing draws on all construction products and renovation type products in addition to balancing the accounting of funds within each loan. They will handle new loan set up packages, which will include reaching out to both borrowers and builders. All draw requests will be processed according to regulatory requirements.
The individual will manage their own draw pipeline, which will include corresponding with borrowers and/or builders for status updates on inactive projects. They will ensure the project is completed within the allotted timeframe and may possibly assist with the creation of an action plan for a stalled project. They will be required to obtain title updates, surveys, inspections and follow up on any outstanding invoices or lien waivers. The individual may need to obtain additional builder documentation in order to release a draw or close out a project.
As the borrowers liaison during the construction phase of the loan, the individual may also have communication with the borrower pertaining to their monthly payment, the amount due and any outstanding customer service type questions.
Pay Range: $16.31 - $22.87 - $29.44
Job Responsibilities:
Reviewing loan documentation to determine all requirements and conditions of each project are being met. Must have a total understanding of each projects specific requirement as they vary from product to product. If discrepancies are found, must balance back to accounting sheet and verify with applicable vendor.
Reviewing all documentation required for each draw. This may include review of all sworn statements, waivers, invoices, inspection and comparison to budget line items to ensure project is on track. Communication is required between the borrower, contractors and vendor. Processing of checks and wires.
Working emails to extract all necessary details for the construction phase of the loan.
Order inspections, title updates and surveys as required for each project type.
Prepare disbursement and funding forms for approval by management. Maintain accurate records of each draw and interest reserve payments (if applicable) to ensure within budget.
Assist with additional reporting as it pertains to borrower letters, delinquency and other departmental needs. Must stay abreast of compliance standards, system updates and departmental guidelines.
Uploading documentation to applicable system.
Ensures compliance with applicable federal, state and local laws and regulations. Completes all required compliance training. Maintains knowledge of and adhere to Flagstars internal compliance policies and procedures. Takes responsibility to keep up to date with changing regulations and policies.
Job Requirements:
HS Diploma, GED or Foreign Equivalent
3 years of extensive customer service experience
2 years of mortgage lending experience or college equivalent
Intermediate computer skills required. Proficient in Microsoft Office and Outlook. Must be able to learn new software quickly.
Intermediate mathematical skills required with ability to perform day to day mortgage mathematical calculations
Ability to speak and write effective in a professional business manner.
Internal Use Only - Job Band I-Hourly
Expected salary:
Location: USA
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Company: Flagstar Bank
Job description: Position Title Draw Administrator Analyst - (REMOTE)
Location Work From Home United States
Job Summary This position is the liaison between the borrower, builder and possibly the draw administration vendor. The individual will be responsible for issuing draws on all construction products and renovation type products in addition to balancing the accounting of funds within each loan. They will handle new loan set up packages, which will include reaching out to both borrowers and builders. All draw requests will be processed according to regulatory requirements.
The individual will manage their own draw pipeline, which will include corresponding with borrowers and/or builders for status updates on inactive projects. They will ensure the project is completed within the allotted timeframe and may possibly assist with the creation of an action plan for a stalled project. They will be required to obtain title updates, surveys, inspections and follow up on any outstanding invoices or lien waivers. The individual may need to obtain additional builder documentation in order to release a draw or close out a project.
As the borrowers liaison during the construction phase of the loan, the individual may also have communication with the borrower pertaining to their monthly payment, the amount due and any outstanding customer service type questions.
Pay Range: $16.31 - $22.87 - $29.44
Job Responsibilities:
Reviewing loan documentation to determine all requirements and conditions of each project are being met. Must have a total understanding of each projects specific requirement as they vary from product to product. If discrepancies are found, must balance back to accounting sheet and verify with applicable vendor.
Reviewing all documentation required for each draw. This may include review of all sworn statements, waivers, invoices, inspection and comparison to budget line items to ensure project is on track. Communication is required between the borrower, contractors and vendor. Processing of checks and wires.
Working emails to extract all necessary details for the construction phase of the loan.
Order inspections, title updates and surveys as required for each project type.
Prepare disbursement and funding forms for approval by management. Maintain accurate records of each draw and interest reserve payments (if applicable) to ensure within budget.
Assist with additional reporting as it pertains to borrower letters, delinquency and other departmental needs. Must stay abreast of compliance standards, system updates and departmental guidelines.
Uploading documentation to applicable system.
Ensures compliance with applicable federal, state and local laws and regulations. Completes all required compliance training. Maintains knowledge of and adhere to Flagstars internal compliance policies and procedures. Takes responsibility to keep up to date with changing regulations and policies.
Job Requirements:
HS Diploma, GED or Foreign Equivalent
3 years of extensive customer service experience
2 years of mortgage lending experience or college equivalent
Intermediate computer skills required. Proficient in Microsoft Office and Outlook. Must be able to learn new software quickly.
Intermediate mathematical skills required with ability to perform day to day mortgage mathematical calculations
Ability to speak and write effective in a professional business manner.
Internal Use Only - Job Band I-Hourly
Expected salary:
Location: USA
Apply for the job now!
Apply Now