3-5 years of experience
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Employment Type:
Full time
Job Category:
Physical Labor
Construction Disbursement Officer
(This job is no longer available)
First American Financial | Chicago, IL
Grad Date

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Job Description

Company SummaryJoin our team! As a global leader in providing title insurance, settlement services and risk solutions for real estate transactions, First American Title Insurance Company (NYSE: FAF) is an ideal place to build your career. We have been entrusted with helping our customers achieve and protect their dream of homeownership since 1889. First American Title's National Commercial Services division provides single-point service for simple to multi-property/multi-state national commercial real estate transactions. We believe that our people are the key to the company's continued success. Because our employees enable our future, we invest in theirs by supporting their careers and promoting their overall wellbeing. First American has created an award-winning culture and has been named to the Fortune 100 Best Companies to Work For® 2018 list for the third consecutive year and to more than 50 regional Best Places to Work lists. For more information, visit www.firstam.com.

Job Summary

Responsible for the closing and processing of construction disbursing transactions, receiving, tracking, and processing construction draws, maintaining compliance with the specific requirements of each disbursing project.

Essentials Functions

* Reviews sworn statements and waivers for completeness and correctness.
* Verifies information on sworn statements and waivers for validity.
* Reconciles waivers submitted with lender expectation, amounts previously paid and remaining monies.
* Determines amount to be paid at each draw upon review of supporting documentation.
* Disburses funds from lender draw to appropriate parties.
* Orders and reviews verbal updates prior to disbursement of any funds.
* Prepares, or assists underwriters in preparing, endorsements reflecting current status of title, taxes and insured amount.
* Responsible for clearing title impediments with lenders and owners prior to issuing a commitment endorsement.
* Follows all company policies and procedures.
* Responds to customer inquiries and follow up telephone calls and e-mails.
* Works with disbursing team to ensure all disbursing procedures are followed and tracked, as applicable.
* Review of monthly reports including trial balances and outstanding check logs.

Knowledge and Skills/Technology Used

* Ability to read, analyze, and interpret sworn statements, lien waivers, invoices, title commitments, purchase agreements and other legal documents.
* Ability to respond to common inquiries or complaints from customers.
* Ability to effectively present information in written and oral form to our internal and external customers.
* Ability to use fractions, percentages and ratios to calculate commissions, tax pro-rations and costs associated with a closing transaction.
* Ability to collect data, establish facts, define problems and draw valid conclusions.
* Ability to identify and solve problems and to deal with both abstract and concrete variables.
* Ability to manage an organized volume of transactions and customers located around the country.

Typical Education

* College degree or equivalent combination of education and experience

Typical Range of Experience

* 3+ years of experience in construction disbursement / commercial escrow or in a related real estate, title, or construction industry position
* Prior banking experience is a plus

First American invests in its employees' development and well-being, empowers them to provide superior customer service and encourages them to serve the communities where they live and work. First American is committed to diversity and inclusion. We are an equal opportunity employer. For more information about our Company and our dedication to putting People First, check out firstam.com/careers.

About First American Financial

We are in business to make you successful! Specifically for the commercial marketplace, our company has assembled the products and services needed to meet the evolving needs of today's businesses. No other company is as strongly positioned to meet so many of America's business requirements. Through a single source, our company can offer the tools designed to bring you a clear advantage in the marketplace. Using expertise gained over more than a century of service, our company is committed to closing your transactions smoothly and efficiently. We have some of the most experienced title professionals in the industry, a dedicated team of Account Representatives and a commitment to customer service. We stand ready to help you succeed in growing your business. Our company has several offices located across the state of Michigan for your closing convenience. We have title services available in every county in Michigan through our network of offices and agents. FASTWeb is our company's flexible online title ordering, file tracking and product delivery system. Multiple products can be ordered through FASTWeb. At the heart of everything we do is our commitment to your overall delight and satisfaction with our people and our services. We pride ourselves on promoting an atmosphere of concern and care for our customers and our fellow employees. We reinforce this commitment daily by holding each other accountable for creating and maintaining an environment of trust, integrity and superior customer service. Our goal is to ensure that your clients choose you when buying or selling their next home and refer their friends and family as well! Our Account Representatives are on call 24 hours a day, 7 days a week to serve you and your clients. Please click on the following link to locate your dedicated Account Representatives today to learn more about how our company can partner with you to achieve success!