ABOUT REINVESTMENT FUND:
At Reinvestment Fund, we are dedicated to making a tangible difference in the lives of underserved individuals and communities. Our mission is to create opportunity for underserved people and places through partnerships. We marshal the capital, analytics, and expertise necessary to build strong, healthy, and more equitable communities.
As a federally certified community development financial institution (CDFI), our job is to make finance an agent of positive change and equitable growth. We provide loans, grants and technical assistance to businesses and nonprofits. Our borrowers and grantees educate students, support local economies, and create jobs. They build affordable housing and provide community goods and services that include access to nutritious food, hunger relief, physical and mental health care, and other social services.
ABOUT THE POSITION:
Reinvestment Fund seeks a Construction Loan Administrator to independently manage a portfolio of complex construction and predevelopment loans from initial draw through project completion. This role is designed for a seasoned construction lending professional who can immediately assume responsibility for construction disbursement oversight, risk identification, and borrower communication with minimal onboarding.
The Administrator serves as a subject-matter expert in construction budgets, draw review, inspections, and title matters while also playing a key role in training and mentoring junior staff within the Closing and Disbursements team. This position partners closely with Lending, Portfolio Management, Inspectors, title companies and borrowers to ensure projects remain compliant, adequately funded, and on schedule. This role is a great opportunity for an experienced individual to step in as subject matter expert, work on high impact projects, and help elevate a growing team.
RESPONSIBILITIES:
- Independently manage and oversee construction budgets, timelines, and draw activity for a portfolio of active construction and predevelopment loans.
- Conduct detailed reviews of borrower draw requests, including invoices, lien waivers, stored materials, and supporting documentation, to ensure compliance with approved budgets and loan agreements.
- Review and interpret third-party inspection reports, identify discrepancies or risk items, and resolve issues directly with inspectors, borrowers, or internal stakeholders.
- Analyze construction budgets, cost categories, contingencies, and allowances; identify trends, overruns, and funding risks and recommend mitigation strategies.
- Coordinate directly with title companies to obtain title bringdowns, endorsements, and lien coverage necessary to process construction advances.
- Monitor interest reserves, retainage, and contingency balances for sufficiency throughout the life of the project.
- Identify, escalate, and resolve construction-related risks, including budget variances, incomplete documentation, construction delays, and lien exposure.
- Serve as a primary point of contact for borrowers on construction draw procedures, documentation requirements, and issue resolution.
- Train, mentor, and support junior construction loan administrators, including reviewing their work, answering technical questions, and reinforcing best practices.
- Assist management with process improvement, workflow refinement, and quality control related to construction disbursement activities.
- Provide support for post-closing and portfolio-management activities related to construction lending.
- Up to 10% travel may be required.
- Other duties as assigned.
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