Reporting to the Chief Lending Officer, the Senior Loan Officer is responsible for underwriting loan requests in support of community development projects with particular emphasis on affordable housing and community facilities, including both interim/bridge, New Market Tax Credits leverage loans and permanent term loans. The position will support ECLF's lending activities across its national footprint. The responsibilities also include managing a defined portfolio of loans from origination through repayment. The Senior Loan Officer is also expected to be the staff lead in multiple lending initiatives in Northern California, working collaboratively with local staff of Enterprise Community Partners.
The Senior Loan Officer is expected to develop and maintain relationships with community development organizations and other relevant groups for the regions in which he/she works, as well as field representatives of Enterprise. The position requires an experienced professional with strong analytical, financial and relationship management skills.
Specific responsibilities include:
- Contribute to production goals by identifying lending opportunities, and originating new loans upon referral through the Enterprise system and external partners.
- Structure and negotiate financing proposals/commitments and prepare comprehensive written loan packages for review and approval by management or Loan Committee for both direct financing by ECLF and financing through various off-balance sheet funds.
- Review and interpret third party due diligence reports, including appraisals, market assessments, entitlement/zoning classifications, and environmental reports to determine transaction viability and appropriate loan structure.
- Coordinate the preparation of commitment letters and loan documents with attorneys.
- Manage the closing process, including internal and external closing counsel, and the collection, review, approval and execution of all closing items.
- Manage an existing portfolio of loans, including annual site visits, timely review of financial statements, review and approval of disbursement/funding requests, monitoring for covenant compliance and processing modification and extension requests.
- Maintain loan files in audit-ready condition to ensure accuracy and completeness.
- Work cooperatively with local and regional staff from Enterprise Community Partners, Enterprise Housing Community Investment and Bellwether Enterprise to coordinate and leverage Enterprise resources grants, loans and equity in project development and advancement of the Enterprise strategic plan.
- Assist with other projects as needed.
Undergraduate degree required; advanced degree in business, finance or related field preferred.
- Seven (7) years of lending experience, with three (3) years of multi-family affordable housing, real estate, underwriting responsibilities required. Community development underwriting and knowledge of various housing programs and the broader community development field is a plus.
- Demonstrated experience in preparing and negotiating complex, multi-layered transactions and balancing the programmatic needs of community based organizations with sound underwriting judgment and risk mitigation.
- Ability to prioritize and manage multiple projects and assignments, meet tight deadlines, and coordinate and communicate effectively across all levels of an organization.
- Strong business development, analytical, communication, and problem solving skills, with working knowledge of spreadsheet programs.
- Detailed analytical skills with database management and spreadsheet knowledge.
- Familiarity with federal, state and local community development programs, particularly programs that finance charter schools, federally-qualified health centers and affordable housing.
- Ability to travel up to 30% of the time.