VP/Director, Affordable Housing Loan Originator recruitment

BASIC FUNCTION:
• Identify and serve affordable housing business opportunities.
• Monitor portfolio of assets financed with tax-exempt financing, agency debt, traditional financing, and low income housing and/or historic tax credits.
• Foster and maintain relationships with brokers and developers for deal flow and co-developer/joint venture opportunities.
• Foster and maintain relationships with government agencies who provide affordable housing financing programs and subsidies.
• Prepare pro-forma analysis of development projects including: Unit distribution/count, development budget, sources and uses, cash flow projections, tax credit equity calculations, purchase price analysis, cap rate analysis.
• Review technical reports on projects and determining appropriate responses
• Make recommendations to Executive Management for the long-term disposition of affordable housing assets including refinancing evaluations and debt restructuring.
• Prepare property reports for the Board of Directors and for external partners including compliance reporting, lender relationships and negotiations, and insurance regulations and adequacy. Coordinates property/portfolio reporting, compliance restrictions, audit reviews, and other requests/projects as required.
• Handle cash flow forecasting for each quarter, including capital needs
• Perform periodic site inspections: During the calendar year, go on-site and drive surrounding market and prepare write up on physical condition and needed repairs. Communicate with Management Company to prioritize and address deficiencies.
• Regular Monthly Oversight: Provide regular portfolio asset management oversite to include but not limited to: replacement reserve draws, insurance claim processing, property tax exemption filing and monitoring , utility allowance studies, monitoring of lender, investor and regulatory agency project inspections
 

AFFORDABLE HOUSING
JOB REQUIREMENTS:
• ACADEMIC BACKGROUND/EXPERIENCE: A four (4) year college degree is required, preferably in the field of business or real estate. Master’s degree preferred. Five to seven years of real estate industry experience in commercial real estate with exposure to affordable housing. Other experience such as managing multifamily real estate portfolios, real estate development, loan originations, underwriting and real estate valuation is a plus.
• COMPLEMENTARY SKILLS: Candidate must have a strong working knowledge of affordable housing assets, including multifamily property financial operations and understanding complex ownership and loan documents and loan servicing agreements. Strong knowledge of low-income housing tax credits and HUD housing programs. Experience with credit and underwriting in the affordable housing industry is a plus.
Individual needs to be a highly motivated, self-starter who is dependable, detail-oriented and capable of working in a productive independent fashion as well as part of a team.