What are the responsibilities and job description for the Multifamily Loan Officer position at MaineHousing?
Job Type
Full-time
Description
Primary Purpose of Position : Financial underwriting and production of affordable multifamily rental housing through MaineHousing programs.
Multifamily and Supporting Housing real estate underwriting
o Determine project feasibility and ensure compliance with programmatic requirements
o Evaluate appropriateness of funding sources and uses
o Evaluate risk of operating budgets, rent structure, and income
o Create, review, and update complex project development pro formas
o Assign financial resources based upon project requirements and program restraints
o Have understanding of non-MaineHousing financing sources
o Determine owner entity, principals, and affiliates' eligibility and ability to effectively manage, finance, and operate projects by ordering and analyzing organizational documents, credit reports, financial statements, and other documentation
Member of the development underwriting team
Provide education and technical expertise to external partners
Order and review third party reports such as market studies, appraisals, Phase I ESAs, and capital needs assessments as needed
Determine compliance with state and federal regulations and requirements
Prepare and present complex project summaries and recommendations
Participate in program design, review, and continuous improvement activities
Assist with scoring of applications for competitive funding rounds
Other duties as assigned
Working Conditions : Fast paced work environment. MaineHousing office hours are Monday - Friday 8 : 00am to 5 : 00pm. A hybrid schedule that includes some telework may be available.
Reports to : Multifamily Underwriting Manager
Supervises : No one
The starting hourly rate for this position is $32.2908 ($67,165 annually), plus a comprehensive benefits package, including, but not limited to, health, dental and vision, retirement options with employer match, life insurance, short and long-term disability, employee assistance, generous earned time and all major federal holidays. Employment is eligible for the Public Service Loan Forgiveness Program.
Requirements
Education, experience, and training, in any combination, relating to real estate development, lending, financial analysis, budgeting, or accounting.
Certifications : Must have previously completed or be willing to complete within two years (at MaineHousing's expense), the Rental Housing Development Finance Professional Certification Program™ with the National Development Council.
Skills and Knowledge :
- Strong project management, time management, and organizational skills
- Strong PC skills using various software - MSOffice Suite (especially Word and Excel), ShareFile / SharePoint, Windows, internet browsers
- Strong financial analysis skills
- Ability to establish and maintain good working relationships with business partners
- Excellent communication skills - speaking, writing, and listening via phone, email, and in-person meetings
- Ability to communicate effectively in front of groups
- Ability to take initiative, work independently, and use creativity and analytical skills to resolve complex issues among multiple parties
- Knowledge of tax credits preferred (specifically the Low-Income Housing Tax Credit (LIHTC) program)
- Familiarity with HUD (HTF, HOME, CMF), USDA (Rural Development), and Federal Home Loan Bank (AHP) housing programs preferred
Salary Description
32.2908 ($67,165 annually)
Salary : $32,291 - $67,165
