Senior Construction Loan Analyst

Description

The Senior Construction Loan Analyst will be responsible for the management of a portfolio of multifamily affordable housing construction loans on Merchants Bank of Indiana’s Investment Real Estate portfolio. This role will provide the Senior Construction Loan Analyst with exposure to various types of loan products to finance the construction of multifamily housing and credit analysis skills to assess the ongoing performance of the underlying assets that are necessary for a successful career in real estate finance. Main responsibilities include the accurate onboarding of newly closed loans and spreading, review, and funding of the monthly construction draw requests. The Senior Construction Loan Analyst is a client-facing, individual contributor role with no direct management responsibilities, however, they will be looked to for expertise and leadership.   

A successful Senior Construction Loan Analyst in IRE Asset Management will be able to multitask to meet competing deadlines, be able to apply critical thinking in their analysis of ongoing construction progress, escalate potential credit issues, adapt well to changes in processes, procedures and technology and deliver top-notch client service.

Requirements

• Serve as the primary client contact for a portfolio of construction loans financing the new construction or rehabilitation of affordable, workforce or market rate multifamily housing located throughout the country.  
• Work closely with clients, governmental agencies, participants, fiscal agent and title company on the monthly draw approval and disbursement process.
• Review monthly construction draw requests and ensure submitted documents are in compliance with conditions of funding as stipulated in loan documents. 
• Review third party construction inspection reports, request title updates and coordinate flow of funds mechanics.
• Manage relationship with Borrowers regarding development budget compliance, monitoring budget reallocations from hard and soft contingencies and ensuring sources and uses are in balance through the life of the construction term.
• Work closely with the closing team prior to closing to ensure final construction budget and closing draw are accurate. 
• Review Loan Review Memo and legal documents to ensure the deal structure and servicing nuances are accurately and consistently tracked across all systems and tracking tools.
• Prepare welcome package/funding guide and host introductory kickoff calls for deal teams on newly closed construction loans and complete the initial onboarding requirements for a deal post-closing.
• Provide monthly and quarterly deal updates for internal reporting and external reporting to agencies that provide a forward permanent loan commitment (Freddie, Fannie).
• Obtain monthly rent rolls on deals that have completed construction and are in the process of leasing up.
• Risk rate the construction facilities through periodic loan grading based on pre-defined risk metrics and discretionary criteria. 
• Handle data requests from internal teams as well as from regulators, Internal Audit, clients, and other third parties.

Expected Experience, Skills and Education:

• Minimum of 5+ years of construction loan administration experience via roles on the lender, developer or Agency side, ensuring a thorough understanding of construction loan documentation, the monthly funding process and critical risk metrics required. 
• Possess excellent communication and interpersonal skills to build and maintain strong customer relationships.
• Demonstrate a strong understanding of deal structure, flow of funds and funding priority in a construction transaction.
• Energetic individual who shows initiative, is a team player, and has a positive attitude when faced with changes.
• Ability to juggle tight deadlines and self-manage the appropriate prioritization of multiple tasks and projects. Requires problem-solving skills as well as the initiative to troubleshoot and find resolutions with minimal direct supervision.
• Must possess strong organization and communication skills with a focus on accuracy and attention to detail with a professional demeanor effective at delivering high-quality client experience.
• A Bachelor’s degree in Real Estate, Finance, Accounting or Business Administration preferred. 
• Requires proficiency in using basic computer software such as Microsoft Office, specifically Outlook, Word, and Excel.  

Our Benefits:

Merchants offers a comprehensive package of benefits for eligible employees, including, but not limited to: 401(k) employer contributions; employee stock ownership plan (ESOP); medical, dental and vision insurance; various types of leaves of absence, including paid time off, paid holidays, paid leave as provided under state and local paid leave laws, and short-term and long-term disability; health savings accounts (HSAs), flexible spending accounts (FSAs), dependent care and commuter reimbursement accounts, employee and dependent life insurance and supplemental life and AD&D insurance; telehealth, optional ancillary insurance policies, education assistance, and an employee assistance program. Eligibility for benefits is governed by the applicable plan documents and policies.

ABOUT MERCHANTS CAPITAL

With over 30 years of success built on putting people first, Merchants Capital is a proven leader in financing for multifamily housing nationwide. Our licenses with Fannie Mae, Freddie Mac, and HUD/FHA, in addition to our bank’s balance sheet products, allow us to offer custom solutions with agility and ease of execution, expanding access to housing in meaningful and impactful ways. Recognized as a top five affordable lender, Merchants Capital pairs our comprehensive debt offerings with in-house tax credit equity to provide a one-stop-shop for developers and owners. To learn more about Merchants Capital, visit www.merchantscapital.com.