Loan OfficerPOSITION SUMMARY The Loan Officer represents HAC on its affordable housing lending activities. This work will include marketing, originating, and underwriting new loan transactions in the Loan Fund Division. The Loan Officer makes recommendations for approval of loans and presents the recommendations both in writing and orally. The Loan Officer works closely with Portfolio Managers and Asset Managers who close and service loans.
The position comes with a competitive salary, generous benefits, and the opportunity to work in a fun and mission-focused environment. The position can be either remote or based in HAC's Washington, DC headquarters.
PRIMARY RESPONSIBILITIES - Structure loan transactions in compliance with internal credit and program requirements.
- Contribute to loan production goals by identifying lending opportunities and originating new loans particularly for affordable housing development and preservation.
- Prepare and negotiate loan proposals with borrowers and partners (term sheets and commitment letters).
- Underwrite and review loan applications, prepare and present loan recommendations and loan modification requests for Chief Executive Officer and Loan Committee review. With review from Senior Loan Officer, recommend loans for approval with suggested risk ratings based on HAC's risk rating procedures.
- Manage the loan approval process from deal screening, through due diligence, to loan approval.
- Assist in the loan closing process by working with the closing team. Assist in the loan closing process by working with the closing team.
- Evaluate, underwrite and process loan modifications as needed.
- Attend industry trade conferences and make presentations; and foster and maintain key strategic relationships.
- Assist with the HAC loan fund marketing.
- Provide excellent customer service to borrowers and potential borrowers.
- Work with partners on loan participations.
- Conduct site visits, as needed.
- Participate in strategic planning and innovation process.
- Keep abreast of industry standards, challenges, and changes influencing lending activities.
- Formulate and execute strategies for problem loans and at-risk projects.
Other Duties: - From time-to-time, Loan Officer will have an opportunity or be required to work on miscellaneous projects and initiatives related to either the lending functions or across the organization as needed.
- Participate in HAC's biannual Rural Affordable Housing Conference
QUALIFICATIONS- Bachelor's degree in relevant field preferred
- Minimum of 3 years' work experience in real estate finance or real estate development
- Experience with affordable housing underwriting, rental and/or for-sale, in all stages of development including predevelopment, acquisition, construction, permanent financing
- Experience in affordable rental housing, including development processes, public financing sources, multi-layered deal structuring, and working with affordable housing developers/nonprofit organizations
- Knowledge of Community Development Financial Institutions (CDFIs) and CDFI Fund programs
- Demonstrated experience in preparing and negotiating complex transactions and balancing the programmatic needs of community-based organizations with sound underwriting judgment and risk mitigation
- Familiarity with federal, state, and local community development programs, especially USDA Rural Development and Low-Income Housing Tax Credits
- Strong financial, analytical, and communication skills
- Sufficient credit skills to conduct risk assessment and manage a portfolio
- Excellent organizational skills and ability to prioritize and manage multiple tasks/projects and meet deadlines
- Proficiency with Microsoft Office (particularly Word, Excel, and Power Point); Adobe Acrobat; Nortridge Loan System (NLS) or other loan servicing systems, and Microsoft Dynamics 365 (or other CRM)
- Entrepreneurial spirit
- Superior analytic and problem-solving skills
Preferred- Advanced degree in business, finance or related field
- Knowledge of and experience with standard legal principles and procedures related to real estate transactions, property transfers, and collateral
- Rental housing preservation experience, especially with USDA-financed housing (as lender, developer, owner or subsidy provider)
- Commitment to social justice issues
- Interest in rural, low-income housing
COMPENSATION AND BENEFITSHAC offers competitive wages, benefits, and growth opportunities consistent with industry standards. Flexible benefits packages include health insurance; life and other insurance; financial benefits, to include a retirement plan with partial employer match; time off; and work/life benefits, to include education assistance. Salary range is $85,000 to $95,000 per year, depending on qualifications.
