Description

Title: Appraiser

Organization: MassHousing

Location: One Beacon Street, Boston, MA 02108

Posting Closes: Close of Business on 08/11/2026

Website: https://www.masshousing.com

If you're ready to join our dynamic team of mission driven professionals, this might be the job for you! Interested candidates should send a letter of interest and a resume to MassHousing by logging in to www.masshousing.com/workwithus.

Position Summary

The Appraiser provides independent technical expertise for all multifamily loan applications, with a particular focus on development and preservation project submissions. This role conducts site assessments, evaluates long-term market and income feasibility, and develops value estimates required for sound underwriting. The Appraiser plays a critical role in MassHousing's credit decisions by preparing detailed financial and lease-up estimates and offering recommendations related to loan security requirements. This position reports to the Senior Manager of Appraisal & Marketing.

All positions at MassHousing require a customer service mindset, in accordance with our values: Integrity, Excellence, Collaboration, Respect, Accountability and Service.

MassHousing operates under a hybrid work model; therefore, employees are expected to work on-site according to a schedule determined in collaboration with their manager and based on the needs of the role. To support effective onboarding, new employees may be required to work in the office more frequently during their first 90 days.

Essential Functions

Internal Valuation

• Prepare internal estimates of market and investment value for multifamily developments financed by, or seeking financing from, MassHousing
• Provide market rent determinations for proposed and existing multifamily developments to support underwriting and valuation analyses
• Conduct marketability analyses for multifamily developments financed by MassHousing

Appraisal & Market Study Review

• Review third-party multifamily fee appraisals to assess the reasonableness, credibility, and supportability of appraisal assumptions, methodologies, market data, and conclusions of value in conformance with Uniform Standards of Professional Appraisal Practice (USPAP)
• Ensure third-party appraisals and market studies comply with MassHousing's regulatory requirements and lending standards
• Ensure compliance with regulatory requirements and lending standards of all MassHousing capital sources in effect from time-to-time, including the U.S. Department of Housing and Urban Development (HUD), the Commonwealth of Massachusetts Executive Office of Housing and Livable Communities (EOHLC), and the Federal Financing Bank (FFB)Act as a liaison between MassHousing and third-party appraisers, facilitating communication, resolving report deficiencies, and addressing valuation disputes in a professional and timely manner
• Qualify and retain a list of third-party fee appraisal and market study professionals; prepare requests for quotes (RFQs), negotiate contracts, and review and approve all outside vendor appraisals and market studies

Regulatory Reporting and Specialized Review

• Evaluate Rent Comparability Studies (RCS), pursuant to MassHousing's role as Section 8 Performance-Based Contract Administrator (PBCA)
• Provide essential data and analysis to support the Agency's critical determination of loan-loss reserves
• Prepare internal estimates of market value, provide market rent determinations, and conduct marketability analyses for under- and non-performing assets
• Review by-right appraisals, pursuant to MassHousing's role as Subsidizing Agency under M.G.L. c.40B in determining Project Eligibility
• Advise on deal structuring and strategies for under-performing assets
• Monitor project marketing and rent-up data, identify outstanding issues, and address performance deficiencies

Security

• Comply with MassHousing's Information Security Program and all other Agency information security policies and procedures
• Take responsibility for any Agency assets assigned to you
• Promptly report any security events, incidents, or weaknesses to MassHousing's Information Security Team

Minimum Qualifications

• Bachelor's degree in Finance, Economics, Real Estate, Business Administration, or related field, or equivalent work experience
• 5+ years of substantial, responsible, practical experience in real estate appraisal, market studies, and financing of medium-to-large-scale real estate proposals
• Valid Massachusetts State Certified General Real Estate Appraiser license
• Ability to meet all HUD-required qualifications, including those set forth in section 7.3 of the MAP Guide, to sign and review appraisal reports
• Eligibility to work in, and travel freely to and from, the United States without sponsorship

Preferred Qualifications

• Advanced degree in Finance, Economics, Real Estate, Business Administration or equivalent work experience
• MAI designation or completion of advanced appraisal class curriculum with the Appraisal Institute ("AI")
• Familiarity with federal Low-Income Housing Tax Credit ("LIHTC") projects and the HUD Section 8 Policy Renewal Guide, including completion and/or review of Rent Comparability Studies and form HUD 92273-S8

Essential Characteristics

• Strong work ethic, fast learner, and a desire to learn appraisal review function under a variety of lending platforms
• Independent thinker who sets timelines and outcomes while collaborating closely with internal and external partners
• Exceptional oral and written communication with comfortability in communicating at all levels of the Agency
• Excellent organizational skills and strong attention to detail
• Comfortable multitasking, adjusts quickly to shifting priorities, and manages time efficiently in a fast-paced environment
• Strategic thinker with the dual capacity to see the big picture and attend to details

Salary Range: $103,312.74 - $134,306.46