Construction Loan Administrator at Fulton Bank – Parsippany, New Jersey

Requisition ID: 2026-23596
# of Openings: 1
Position Type (Portal Searching): Full-Time
7 Sylvan Way Building-Par
Morris
FLSA Status: Non-Exempt

Value Proposition

Our values define us and our culture inspires us to change lives for the better. Our employees are the heart and soul of our company, and every success we experience begins with them. Together we are committed to making a positive impact in our local communities. We champion a culture of continuous learning, work-life integration, and inclusion. We promote a digitally enabled work environment to continuously enhance the experience of our employees and customers.

Overview

This is a full-time, hybrid career opportunity based out of Bridgewater or Parsippany, New Jersey.

Responsible for the administration of certain real estate secured commercial mortgage credit facilities, including but not limited to reviewing and preparing loan advances, monitoring builder lines, development loans and specialized construction loans, issuing release consideration letters or payoff quotes and collateral releases for those loans, collateral tracking, and processing loan payments.

Responsibilities

• Responsible for the setup of construction loans for both commercial projects and residential development for monitoring within the Commercial Mortgage Administration group. These duties include but are not limited to collecting, reviewing and analyzing loan documentation such as construction loan agreements for special terms, title insurance for advance limitations, and other documents like flood determinations and building permits to ensure that each future advance is calculated and advanced properly within each loan’s structure. Step up may include performing an initial loan advance into a customer’s account or a wire transfer, and will require working with the relationship managers to verify a reconciliation schedule for inspection reporting. A Level III employee would be expected to help guide less experienced employees with legal and structural questions concerning the proper set up of a construction loan. A level III employee would be expected to be familiar with all loan documentation. Once the setup of a construction loan is complete Specialists are expected to fund construction loan projects at the documented times and percentage of completed construction. This duty includes but is not limited to: verifying loan system availability and analyzing availability with tracking systems, preparing daily account and General Ledger transactions which may include interest reserves, payments, and tickets for processing. As with loan set up advances may be deposited into deposit accounts or through use of wire transfers. All advances must be analyzed and validated to insure proper hurdles have been achieved by borrowers. Monitoring may include analyzing loan budgets, change orders, housing starts, project costs, etc. Level III employees may field questions from less experienced level employees within the team to accomplish correct funding. The Level III employee is expected to direct when necessary. The Specialist will need to identify when exception approval and appropriate documentation is required when stored materials or change order items are requested for funding or when other items may come up that require exception approval. Additional duties in this area include conferring with Due Diligence Officer or Legal in reviewing title insurance binders, commitments, policies to verify whether or not advance bring down or updates are required and to also verify collateral. Order property inspections from approved property inspectors as needed for advances. Property inspection reports are to be tracked electronically, reviewed and analyzed to see if loan advance request can be advanced. Level III Specialist will be expected to perform all of these functions independently and can review title insurance along with the due diligence office with little or no input from legal. Specialists will Issue payoff quotes and or release consideration letters for monitored loans and lines. Maintain a master sheet of payoff instructions for all loans monitored. This may require periodic research of most recent line renewals to be sure we have the most recent requirements. Review collateral releases for accuracy and Obtain appropriate signatures and notarizing releases. Prepare release correspondence and maintain records of releases processed. Process daily account and general ledger entries for releases, principal curtailments, and loan payoffs. Level III would be considered an expert in this, and would mostly direct less experienced staff in this area.

• Track exception approvals related to construction and development loan advances and releases. Scan advance and payoff and release related documents and file electronically for future reference. Confer with the Special Assets department on certain loans which may require special handling. Research, analyze and resolve problem inquires made by Relationship Managers, and borrowers. May require corrections to the loan system or other tracking and recording methods. Recommend improvements to the department’s construction loan monitoring process to supervisor. Identify and report to supervisor any deviations from loan policy or loan approval. Demonstrate strong judgement in identifying when an isse requires escalation and ensures it is directed to the appropriate party.

• Ability to train others in all functions of the position, but specifically train new hires in Fulton systems, policies and procedures. Ability to supervise, when the team leader is not present, the team from time to time. Ability to interpret legal documents with little or no help from Due Diligence or Legal, or ability to confer with legal at a technical and legally familiar level.

Qualifications

Education

Associate Degree or equivalent experience. Specialtie: Business Administration or equivalent degree. (Preferred)

Experience

8 or more years of experience in Construction Loan Administration, including commercial development and construction loans, with deep knowledge of SBA construction administration and builder/revolving lines. (Required)

Strong working knowledge of construction administration platforms. (Required)

Built Technologies (Preferred)

Sponsorship Statement

As a condition of employment, individuals must be authorized to work in the United States without sponsorship for a work visa by Fulton Bank currently or in the future.

EEO Statement

Fulton Bank (Fulton) is an equal opportunity employer and is committed to providing equal employment opportunity for all qualified persons. Fulton will recruit, hire, train and promote persons in all job titles, and ensure that all other personnel actions are administered, without regard to race, color, religion, creed, sexual orientation, national origin, citizenship, gender, gender identity, age, genetic information, marital status, disability, covered veteran status, or any other legally protected status.