Senior Multifamily Underwriter
The Senior Multifamily Underwriter is a professional position responsible for the review and underwriting of multifamily finance transactions to: 1) increase the availability of housing for low to moderate families by using a variety of financing and subsidy sources; and 2) to generate revenue for the organization, which adds to the growth of the multifamily bond portfolio. This is a key position in the Mortgage Finance Division with focus on multifamily real estate loan origination and processing. An employee in this position receives loan applications from non-profit and for-profit organizations, including HOC's Real Estate Division, and assists in the structuring of the multifamily financing transaction. Activities are preparatory to financial commitments and the issuance of taxable and/or tax-exempt bonds or other forms of financing. The responsibilities of this position include, but are not limited to, proforma preparation and feasibility assessment; review of development proposals, third-party reports, and borrower documents; and loan closing management and execution. Experience in the principles and practices of financing rental multifamily real estate is required.
Extensive knowledge of and experience with HUD/FHA insurance and other housing finance programs is necessary. An employee in this class applies knowledge of the principles, practices, and policies of HOC's Multifamily Program Guide and the Commission's lending practices to varied loan applications. The employee must be proficient in the application of rules and regulations pertaining to tax-exempt mortgage revenue bonds, the Federal Low-Income Housing Tax Credit Program, as well as other state and county housing programs. The employee plans, organizes and controls most aspects of the work, providing regular status reports to the supervisor. The employee will work in an office and occasionally visit rental developments or potential sites. The employee is expected to exercise sound and efficient judgment in the management and scheduling of the workload. The individual will assist in overall development process management, including involvement with clients, public officials, and participating financial institutions and must be able to present discussions and recommendations orally and in writing.
- Requires Bachelor's degree in a related area.
- Requires 10 years of increasingly responsible experience in real estate finance, development, and investment. Said experience shall include working with transactions that include affordable and market rate housing and mixed-use development.
- A combination of education and professional experience will be considered.
- Must have experience processing HUD/FHA multifamily mortgages and closing transactions.
- Superior financial and analytical skills necessary.
- Ability to manage multiple tasks, transactions and meet deadlines.
- Strong written and verbal communication skills required.
- Ability to make presentations to a varied audience.
- Previous experience working with a Housing Finance Agency and/or Public Housing Authority preferred.
- Supervisory experience involving professional level employees is desired.
- Valid Driver's License and Vehicle are required.