CRE Construction Draw Specialist

Job Description

Commercial Property Assessed Clean Energy (C-PACE) is a tool used by property owners and developers to finance energy efficiency, renewable energy, and resiliency measures that improve commercial property.

Founded in 2017, PLG is a leading national direct C-PACE lender. With an industry-leading balance sheet, PLG is focused on originating/servicing C-PACE loans nationwide. We are on the ground floor of something big - and we want you to be a part of it.

We are adding a CRE Construction Draw Specialist to our team. There is a preference for this position to office out of our Minneapolis office. We are a small company, so you will immediately have an impact on the efficiency of our team.

Your day-to-day will primarily focus on the construction process from start to finish: customer contact, draw requests, third party management, insurance tracking, and other C-PACE loan/asset management tasks.

If you enjoy a growing company, a customer-focused environment, and are self-driven to excel, this is the role for you!

Primary Responsibilities

Stakeholder Interaction (Mortgage lender/Borrower/PLG/Title Co./etc.)

• Serves as the primary point of contact for borrowers, contractors and vendors regarding the draw process

• Collaborates with underwriting, servicing and closing teams to ensure smooth loan administration

• Creates and sends a Welcome Package to clients upon commencement of construction and the draw process

• Provides status updates and guidance to clients on draw timelines and requirements

Draw Management

• Using base templates to create and maintain deal specific draw trackers for each new project

• Meeting servicing standards on multiple, ongoing draws by critically reviewing construction draw requests for accuracy and compliance with loan agreements and C-PACE Programs

• Reviewing required documentation and lien waivers quickly for appropriateness and accuracy and requesting further information within 24 hours or initial request, when needed

• Coordinating with third party vendors to confirm work progress and project completion stages

• Identifying and resolving discrepancies between draw requests, site inspection information and the construction budget, should they arise

• Maintaining and balancing each individual draw tracker to ensure construction escrow accounts stay in balance, internally

• Tracking and verifying the overall project budget stays in balance (i.e. there are enough funds from all sources to complete the build)

• When all documentation is complete and/or received, verifying wiring instructions and processing the construction loan draw, ensuring funds are sent out

Compliance and Documentation

• Using the Master Tracking Document as a pipeline management tool, tracking and updating each individual draw, on a daily basis, as it moves through the process

• Following up on trailing documents from loan closings (i.e. construction permits/builders risk insurance/surveys, etc.)

• Reviewing for construction insurance maturities/cancellations and following up with clients to ensure proper insurance is maintained

• At construction completion, ensuring full documentation for the file in relation to any final, C-PACE required documentation (i.e. Certificate of Occupancy/Completion Certificates/etc.)

• Other tasks as needed

Skill set must include the following:

• 2-4 years of experience with commercial construction draws/loan administration preferred

• Extremely detail-oriented with demonstrated ability to follow through on tasks

• Familiarity with construction budgets, schedules, reports, lien waivers, and compliance documentation

• Curious, with a problem-solving attitude (identify issues, but also suggest solutions), particularly, with the ability to think through nuances of each construction draw

• Ability to manage several projects with different parameters using checklists and timelines

• Proactive communication and follow through

• Analytical thinking and problem-solving abilities

• Experience in Microsoft Office Suite, including moderate (or better) Excel skills

• Ability to work in a fast-paced environment while delivering accurate and quality work-product while maintaining multiple, simultaneous draw requests and meeting established service parameters (i.e. “Think on Your Feet”)