Construction Draw Manager

About the position

Ellington, through its correspondent loan purchase platform, acquires business purpose residential, and multifamily loans throughout the US from a network of private lenders. The loans are short term bridge and Fix-flip loans. Ellington is seeking a Construction Draw Manager for our growing team. The ideal candidate will have 3+ years of experience in review of rehab projects and new construction projects, hands on experience in the fix-flip or building industry or in underwriting and/or the oversight of residential loan loans and in mortgage due diligence. Previous experience working for a rehab or construction lender is a plus.

Responsibilities

• Review and approve rehab loan draw requests from 8 different asset managers on a daily flow basis. This involves analysis of property inspection reports, permits, lien waivers and title work to ensure compliance with guidelines.
• Review and approve changes to the project scope of work.
• Review and approve new construction loan cases on a national scope in advance of loan purchase. This is analysis to determine project feasibility vs. the scope of work, review of the builder/GC, and compliance of the property and loan to guidelines.
• Monitor the status of rehab and ground up projects to ensure timely exits on loans.
• Develop and maintain protocol for vetting construction budgets and monitoring progress of projects.
• Manage day to day point of contact with our lender partners to provide superior customer service.
• Interact with third party vendors to obtain property valuations, title work, etc. as needed.

Requirements

• 3+ years in rehab/construction business as an operator or with a lending operation as an underwriter, property specialist or asset manager.
• Experience as a property valuer (appraiser or realtor) highly considered.
• Ability to manage multiple projects at a time and prioritize accordingly.
• Ability to effectively communicate, both written and verbally, with Senior Management regarding the progress and results of volume and timelines.
• Ability to work effectively under time constraints.
• 4-year degree from accredited university preferred.

Benefits

• Remote work environment is possible for the right candidate.
• Full time or 1099 options may be available.