Job Description:

At Bank of America, we are guided by a common purpose to help make financial lives better through the power of every connection. We do this by driving Responsible Growth and delivering for our clients, teammates, communities and shareholders every day.

Being a Great Place to Work and providing a culture of caring is core to how we drive Responsible Growth. We are intentional about fostering an inclusive workplace where every teammate has the opportunity to succeed, build a career and contribute to our shared success. This includes attracting and developing exceptional talent, recognizing and rewarding performance, and supporting our teammates’ physical, emotional, and financial wellness through affordable, competitive and flexible benefits.

We value the unique perspectives individuals bring from all backgrounds and career paths - whether shaped by military service, community college education, or a wide range of work and life experiences. These journeys foster resilience, leadership and innovation, strengthening our workforce and positively impact the communities we serve.

Bank of America is committed to an in-office culture that supports collaboration, engagement, and career development. Our approach includes clear in-office expectations, while providing an appropriate level of flexibility based on role-specific responsibilities and business needs.

At Bank of America, you can build a successful career with opportunities to learn, grow, and make an impact. Join us!

Job Description:
This job is responsible for managing and servicing a dedicated portfolio of complex real estate commercial construction loans. Key responsibilities include independently reviewing loan approval and loan documents and working closely with client managers, borrowers, counsels, construction consultants, and title companies to ensure consistency and adherence to requirements for loans. Job expectations include monitoring documentation requirements and exceptions, including interest and past dues, and contributing to developing and training employees.

Responsibilities:

• Reviews construction draw packages, identifies and helps resolve construction and title issues, keeps accurate records of detailed construction loan budgets and all sources of funds, including loan funds and non-loan sources of funds, and ensures loans are in balance

• Serves as a point of contact for assigned clients on all loan related servicing matters for highly complex deals and delivers the highest level of service to lenders, investors, borrowers, vendors, and Lines of Business while ensuring compliance with servicing agreements, government regulations, and the bank's policies with minimal supervision

• Coordinates fundings with Fulfillment and Assignment Desks as needed and ensures communications are timely and accurate

• Performs payoff quotes and related calculations including prepayment calculations

• Assists Loan Administrators with their primary responsibilities and helps managers in directing workflow and performing quality assurance activities

• Monitors, researches, and instructs payment processing for borrower payments, disbursements, and fees and collects appropriate fees due from the lender or servicer

• Maintains past due principal, interest, and fees as well as reconciliation exceptions within acceptable levels

Line of Business Description:

Relationship Administrator III – Construction Servicing

Manages and services a high-volume portfolio of complex construction loans supporting the Commercial Real Estate (CRE), Commercial Banking, and Community Development Banking (CDB) lines of business. Portfolio responsibilities include a variety of construction projects such as affordable housing, multifamily, office, industrial, retail, tenant improvement, and capital expenditure facilities.

Serves as the primary administrator for construction loan servicing activities throughout the life of the loan. Utilizes a strong understanding of loan structures, construction financing requirements, credit approvals, and governing loan documentation to manage funding activities and ensure compliance with servicing requirements.

Responsible for reviewing and processing construction draw packages, monitoring project budgets and funding sources, tracking construction progress, and identifying and resolving construction, documentation, funding, and title-related issues. Ensures loans remain in balance and that all advances are completed in accordance with loan documentation and established servicing standards.

Partners closely with borrowers, relationship managers, credit partners, legal counsel, construction consultants, inspectors, title companies, co-lenders, and other internal and external stakeholders to facilitate timely draw processing, mitigate risk, resolve servicing issues, and deliver an exceptional client experience.

Responsibilities

• Primary point of contact for all servicing-related activities.

• Independently manage a portfolio of complex commercial real estate construction loans supporting Commercial Real Estate, Commercial Banking, and Community Development Banking clients.

• Review and process construction draw requests, including analysis of draw packages, AIA applications, lien waivers, inspection reports, title updates, project budgets, and supporting documentation.

• Monitor construction budgets, funding activity, borrower equity contributions, and multiple sources of funds to ensure compliance with loan documentation and servicing requirements.

• Identify, research, and resolve construction, title, documentation, and funding-related issues.

• Maintain accurate records and detailed tracking of construction budgets, funding activity, loan balances, and project performance utilizing Excel and servicing systems.

• Ensure construction loans remain in compliance with servicing requirements, loan documentation, and established risk management standards.

• Partner with internal and external stakeholders to facilitate timely and accurate construction funding and servicing activities.

• Monitor documentation requirements and exceptions, including principal, interest, fees, and past dues.

• Daily client and business partner interaction through phone and email communications.

Required Qualifications:

• Five or more years of experience in Commercial Real Estate Construction Loan Servicing, Construction Loan Administration, or Construction Draw Administration.

• Strong knowledge of commercial construction lending concepts, including construction draw administration, project budgets, funding mechanics, AIA applications, lien waivers, title insurance, inspections, borrower equity funding requirements, and sources and uses of funds.

• Experience monitoring and reconciling construction budgets, loan proceeds, borrower equity, and other project funding sources.

• Ability to interpret and apply servicing requirements contained within loan documentation.

• Strong interpersonal skills with the ability to influence, collaborate, and coordinate servicing activities across a variety of business partners and stakeholders.

• Excellent organizational, time management, written communication, and verbal communication skills.

• Strong business acumen and analytical problem-solving skills.

• Ability to manage multiple competing priorities and work effectively in a fast-paced environment.

• Proficient computer skills, including Windows, Excel, Word, and Outlook.

Desired Qualifications:

• Experience administering complex construction loans, including draw review, budget monitoring, funding reconciliation, and project lifecycle management.

• Familiarity with construction project documentation, including AIA applications, lien waivers, title insurance, title endorsements, inspection reports, and sources and uses analyses.

• Knowledge of affordable housing transactions, including Low-Income Housing Tax Credit (LIHTC) equity structures, tax-exempt bond financing, and subordinate debt structures.

• Experience working with multiple stakeholders, including borrowers, relationship managers, credit partners, attorneys, construction consultants, inspectors, title companies, and co-lenders.

• Advanced Excel skills with experience maintaining and reconciling complex construction budgets, funding sources, and loan balances.

• Knowledge of LoanIQ, ARIES, and other commercial loan servicing platforms preferred.

• Bachelor's degree preferred.

• Strives to bring new thoughts and ideas to teams in order to drive innovation and unique solutions.

• Excels in working among diverse viewpoints to determine the best path forward.

• Experience connecting with clients and business partners to understand evolving business needs and deliver exceptional service.

• Commitment to challenging the status quo and promoting positive change.

Skills:

• Adaptability

• Prioritization

• Problem Solving

• Recording/Organizing Information

• Relationship Building

• Data Collection and Entry

• Financial Analysis

• Oral Communications

• Written Communications

• Data Management

• Legal Structures and Legal Forms

• Regulatory Compliance

• Result Orientation

Minimum Education Requirement: High School Diploma / GED / Secondary School or equivalent

Shift:

Hours Per Week: