Development Transaction Coordinator MF/AncFin

RIHousing – Development Transaction Coordinator MF/Ancillary Financing

Salary Range - $60,829.40 - $88,023.72

Diversity, equity, inclusivity, and belonging are central to everything RIHousing does. We recognize that we are stronger because of our differences - whether in race, ethnicity, gender, gender expression and identity, age, sexual orientation, religion, disability, and other individual characteristics – and we place value in individual contributions and experiences. As an organization committed to serving the housing needs of Rhode Islanders, we recognize the importance of breaking down the systemic barriers that can stand in front of equal housing opportunity for all. We will work to eliminate discrimination, bias, and inequality in all our activities. We are committed to creating a welcoming and respectful environment for our colleagues and customers, lifting diverse voices, and continually embracing change.

What it’s all about: 

This position is to work independently and collaborate with our Multi-family and Ancillary Financing teams, lenders, borrowers, and attorneys to coordinate the closing process from file opening to post-closing and loan conversion, including the review and approval of all insurance certificates. Additional duties include tracking and coordinating with in-house legal for modifications of existing loan documents. The position also assists with reporting and program management of the Capital Magnet Program.

What you’ll do on a daily basis: 

The incumbent is a critical member of the team who is responsible for ensuring loans with complex loan structures or documentation requirements are closed and documented in accordance with the Firm's Approval and the requirements of the various funding programs. 

The incumbent is responsible for consistently maintaining a state of internal and external audit and risk readiness to comply with Quality Control requirements.

The incumbent is responsible for locating, reviewing, and interpreting various real estate documents for the detail-oriented administration of Multifamily Financing programs such as RIHousing funded loans, HUD loans, and state subsidy programs.  funded by or through  RIHousing.   This includes tracking completion of checklist items, maintaining contract and closing binder inventories, tracking critical dates and due diligence processes, reviewing legal documents for accuracy, obtaining necessary signatures, notarizing documents, and special projects and duties as assigned.  Communicates with internal team and external partners and vendors. 

The incumbent is responsible for performing appropriate due diligence tasks, reviewing operational risk components associated with insurance requirements, and assisting Development Officers to ensure conditions precedent are met prior to closing or funding a loan. This position is responsible for tracking project status and deliverables, both internally and externally, and coordinates with other Divisions at project completion to ensure accurately booking the loan to the loan servicing and asset management teams.   May assist with coordinating and assembling funding draw requests during construction for review by the Development Officer.   

The incumbent also assists the Division Director with reporting requirements associated with various Capital Magnet Fund grant awards, including coordination with the Data Reporting Specialist and interface with the CDFI’s reporting system known as AMIS.

Knowledge of Federal regulations, loan documentation terms and conditions, including Credit Agreements, Insurance certificates, Notes, Guarantees, and collateral, are required as the incumbent acts as a gatekeeper for certain compliance and reporting requirements.

What you’ll bring to the team:

• Assist with coordinating project management goals of multiple affordable housing transactions, including the acquisition, development, refinancing, and/or rehabilitation of affordable housing projects, including through LIHTC, as instructed by the team.
• Maintain and update division database containing information about all past, current, and pending development deals, and coordinates amendments or modifications of existing loan documents in conjunction with in-house legal.
• Assist with Capital Magnet Fund program reporting.
• Perform special projects/research as directed. 

What you’ll need to succeed:

• Detail-oriented and good organizational skills.
• Works well in a team environment.
• Well-versed in Microsoft Office programs (Word, Excel, Outlook, etc.)
• Ability to use other real estate databases and Internet-based software.
• Ability to work under pressure and handle multiple projects/tasks simultaneously.
• Real Estate experience and/or experience with federal programs preferred but not required
• Professional demeanor and presence.
• Excellent customer service skills. 

Not sure you meet all the qualifications? Let us decide! 

Why RIHousing:

• Mission-Driven Organization
• Dedicated Workforce
• Competitive salary
• Parking Stipend
• Medical/Dental/Vision/Life Insurance
• Paid Time Off 
• Retirement Options
• Flexible Work Hours
• If Position Eligible, Future Hybrid Work May Be Available
• Education Reimbursement
• Onsite Fitness Classes
• Volunteer Days
• Winner of “Best Places to Work” 2016, 2018, 2019, 2021, 2022, 2023 & 2024
• PBN’s Worksite Health Award 2013 - 2024
• PBN’s Diversity Equity Inclusion Award 2023 & 2024 

RIHousing strives to ensure that all people who live or work in Rhode Island can afford a healthy, attractive home that meets their needs. A good home provides the foundation upon which individuals and families thrive, children learn and grow, and communities prosper.

 To achieve our mission, we:

• Offer fair, affordable, and innovative lending programs.
• Provide housing-related education to consumers and others.
• Promote and finance sensible development that builds healthy, vibrant communities.
• Provide housing grants and subsidies to Rhode Islanders with the greatest need.
• Team up with partners to improve everything we do.

RIHousing uses its resources to provide low-interest loans, grants, education, and assistance to help Rhode Islanders find, rent, buy, build, and keep a good home. Created by the General Assembly in 1973, RIHousing is a privately funded public purpose corporation. RIHousing requires its employees to be highly motivated and knowledgeable, have a sound understanding of the changing needs of Rhode Island's housing market, be willing to work within and toward a smoothly integrated operation, demonstrate a commitment to serve the people of Rhode Island, especially those with low and moderate incomes in need of safe and affordable homes, and possess a high level of integrity and deep respect for all Rhode Islanders, including customers, partners and fellow employees.