Housing Finance Associate

MassDevelopment; Boston (MA); Hybrid; USD 90,000 - 130,000; Full time

Benefits offered by this job

Medical, dental, and vision insurance

401(a) and 457(b) plans with agency 2%

Generous paid leave including vacation

Hybrid work options

Tuition reimbursement

Student loan assistance

Wellness programs

Job summary

MassDevelopment is seeking a Housing Finance Associate within its Investment Banking Department to support origination, underwriting, structuring, closing, and administration of tax-exempt financings that create and preserve affordable housing across the Commonwealth.

The role involves reviewing materials, assisting in transaction management, maintaining data, preparing materials, and coordinating TEFRA hearings, with a focus on compliance and client collaboration.

Qualifications

• Bachelor's degree or equivalent in a related field.
• 2–4 years of relevant experience in affordable housing finance, real estate finance, or related areas.
• Strong financial modeling, underwriting, analytical, and quantitative skills.
• Knowledge of LIHTC, tax-exempt bonds, or public-purpose financing preferred.
• Excellent written, verbal, interpersonal, and presentation skills.
• Proficiency with Microsoft Office applications, including Excel, Word, PowerPoint, Outlook, and Copilot.

Responsibilities

• Review bond application materials, including budgets, pro formas, financial statements, and due diligence reports.
• Support transaction management and execution, including file maintenance and preparing committee materials.
• Manage affordable housing pipeline data entry, reporting, and transaction tracking.
• Coordinate TEFRA hearing processes and related documentation.
• Coordinate post-issuance compliance activities for tax-exempt bond financings.

Skills

Financial modeling

Underwriting

Analytical skills

Quantitative skills

Excel proficiency

Presentation skills

Education

Bachelor's degree in Finance/Real Estate/Business

Tools

Microsoft Office

Copilot

Job description

Who We Are

MassDevelopment, the state’s development finance agency and land bank, delivers financing solutions, real estate expertise, and other assistance to strengthen and grow the Massachusetts economy. We partner with businesses, nonprofits, developers, banks, and municipalities to help create jobs, build housing, and foster vibrant communities across the state. We value diverse perspectives, encourage innovation, and are committed to building a stronger Massachusetts.

MassDevelopment is seeking a motivated, detail-oriented, and mission driven professional to serve as a Housing Finance Associate within its Investment Banking Department. Reporting to the Senior Vice President, Housing Finance, this position will support the origination, underwriting, structuring, closing, and ongoing administration of tax-exempt financings that create and preserve affordable housing across the Commonwealth.

What You'll Do

• Review bond application materials, including development budgets, operating pro formas, financial statements, sources and uses, cash flow projections, and transaction-related due diligence reports.
• Support transaction management and execution, including maintaining transaction files, ensuring accurate data entry into Agency systems, preparing committee materials and internal approval documents, and participating in transaction-related closing calls.
• Support the management of the Agency’s affordable housing pipeline through accurate data entry, reporting, and transaction tracking.
• Coordinate transaction-related public hearings, including scheduling hearings, preparing materials, participating in proceedings, and managing Tax Equity and Fiscal Responsibility Act (TEFRA) hearing processes and related documentation.
• Coordinate post-issuance compliance activities for tax-exempt bond financings, including tracking borrower reporting requirements, compliance certifications, and IRS filings.
• Support compliance monitoring activities related to Chapter 40B.
• Participate in client meetings and financing discussions, and assist in developing presentations, marketing materials, and financing proposals.
• Support all aspects of transaction and program management, conduct special research projects, and perform other duties as assigned

What We're Looking For

• Bachelor's degree in Finance, Economics, Real Estate, Business Administration, Public Policy, Accounting, or a related field.
• Two to four years of relevant experience in affordable housing finance, real estate finance, commercial lending, municipal finance, investment banking, community development finance, accounting, or a related field.
• Strong financial modeling, underwriting, analytical, and quantitative skills.
• Knowledge of or demonstrated interest in affordable housing development, LIHTC transactions, tax-exempt bonds, or public-purpose financing programs preferred.
• Excellent written, verbal, interpersonal, and presentation skills.
• Proficiency with Microsoft Office, including Excel, Word, PowerPoint, Outlook, and Copilot.

What We Offer

• Comprehensive Benefits: Medical, dental, and vision insurance to support you and your family
• Retirement Readiness: Robust 401(a) and 457(b) plans with agency match
• Generous Paid Leave: Vacation, sick time, personal days, and holidays
• Flexible Work Environment: Hybrid work options to support balance and integration
• Investment in You: Tuition reimbursement, student loan assistance, and opportunities for continued learning
• Wellness Support: Resources and programs to help you thrive personally and professionally

It is unlawful in Massachusetts to require or administer a lie detector test as a condition of employment or continued employment. An employer who violates this law shall be subject to criminal penalties and civil liability.