- Position: Construction Loan Administrator
- Company: X-Caliber Rural Capital (XRC)
- Department: Operations
- Status: (Exempt / Non-Exempt) Exempt
- Location: MD or NY, Remote
- Reports to: Construction Loan and Servicing Senior Administrator
ORGANIZATIONAL OVERVIEW
X-Caliber Rural Capital is a leading investment firm based in Irvington, New York dedicated to driving economic growth and development in rural communities across the United States. With a focus on agricultural, infrastructure, and community-centered projects, X-Caliber is committed to making a lasting impact by providing strategic financial solutions and resources to underserved markets. By fostering long-term partnerships and investing in local industries, X-Caliber works to create sustainable job opportunities, improve regional economies, and enhance the quality of life in rural America.
As a company, X-Caliber values innovation, integrity, and community engagement. The team is driven by a shared vision to revitalize rural economies, promote sustainable practices, and empower local businesses to thrive. We are passionate about helping rural America reach its full potential by providing the financial backing and expertise necessary to help communities grow and succeed.
SUMMARY
X-Caliber Rural Capital is seeking a highly organized and detail-oriented Construction Loan Administrator to support the management of an expanding USDA and conventional commercial construction loan portfolio. The primary responsibility of this role will be to assist in loan servicing functions, ensuring that all construction-related processes, documents, and disbursements are executed accurately and in a timely manner.
Key duties include reviewing pre-closing loan documents, setting up construction monitoring workbooks, processing pay applications, and coordinating with borrowers, contractors, and third-party agencies. The Construction Loan Administrator will also manage regular construction draws, track project milestones, and ensure all required documentation is provided and properly organized. This role will involve ongoing communication with clients, internal teams, and external agencies to resolve any issues and maintain accurate construction budget monitoring.
The Construction Loan Administrator will play a crucial role in supporting the seamless transition from construction to loan conversion, ensuring compliance and timely progress updates.
PRIMARY RESPONSUBILITIES
- Assist in review of pre-closing loan documents to ensure the inclusion and consistency of funding parameters related to construction
- Work with the origination and closing teams during pre-closing to set up the construction monitoring workbook and to process any pay applications that will be disbursed on the settlement statement
- Conduct pre-construction conferences with borrower, GC, contractors, and loan team to discuss disbursement process
- Review pre-closing construction diligence reports completed by third party construction monitoring agency
- Set up and maintain reminders within the loan accounting system to track and manage project related milestones and documentation due dates
- Process and review regular construction draws including contractor pay applications, change orders, lien waivers, soft cost invoices, etc.
- Coordinate with title company for date down endorsements as applicable
- Consult with third party construction monitoring agency as needed
- Coordinate draw disbursements, including monthly interest-only fundings
- Ensure all draw documentation required in the Loan Agreement is provided, organized, and saved to the client file
- Work with clients to remedy document exceptions discovered during analysis of documentation submitted
- Maintain accurate and up-to-date construction budget monitoring and draw tracking records, identifying and elevating to management any unresolved document exceptions, budget shortfalls, and construction delays
- Submit routine construction progress monitoring both to agency and internally as required
- Compile and submit Monthly Construction Updates for the USDA and Participants
- Initiate the loan conversion process at the end of construction, and work closely with Servicing and Closing to facilitate the loan conversion.
- Respond to daily requests from clients and/or agency as needed
- Other duties as assigned
- Travel as needed
JOB QUALIFICATIONS
- Bachelor’s Degree and a minimum of 2-5 years of experience in banking or commercial finance required
- Experience in construction oversight/risk assessment/project management required
- USDA loan servicing experience preferred but not required
- Knowledge of EPC contract language and ability to review contract for specific lender needs preferred but not required
- McCracken Strategy software experience a plus
- Must be proficient in basic software applications included in Microsoft Office Suite
- Strong organizational, oral, and written communication skills
- Strong customer communication/service skills
- Detail oriented with the ability to think proactively and work independently
- Position is hybrid to the MD or NY office if you are local. Can be remote otherwise
Range of Salary: $65,000 – $80,000 + discretionary annual bonus
Expected Start: Immediately