Lending/Loan Operations

Opportunity Finance Network; Washington (District of Columbia); Hybrid; USD 85,000 - 95,000; Full time

Benefits offered by this job

Health insurance

Retirement plan

Education assistance

Job summary

Housing Assistance Council (HAC) is seeking a Loan Officer to represent the HAC loan fund’s affordable housing lending activities, including marketing, originating, and underwriting new loan transactions. The Loan Officer will work with Portfolio Managers and Asset Managers to close and service loans.

The role offers a competitive salary and benefits, with the option to work remotely or from HAC’s Washington, DC headquarters, in a mission-driven, collaborative environment.

Qualifications

• Bachelor's degree in relevant field preferred.
• Minimum of 3 years’ work experience in real estate finance or development.
• Experience with affordable housing underwriting and financing.
• Knowledge of CDFIs and CDFI Fund programs.
• Strong financial, analytical, and communication skills.
• Proficiency with MS Office and loan servicing systems.

Responsibilities

• Structure loan transactions in line with internal credit and program requirements.
• Identify lending opportunities and originate loans for affordable housing development and preservation.
• Prepare and negotiate loan proposals (term sheets, letters of commitment).
• Underwrite and review loan applications; present recommendations to CEO and Loan Committee.
• Manage loan approvals from screening through due diligence to closing; support portfolio management.

Skills

Financial analysis

Loan underwriting

Risk assessment

Credit analysis

Communication skills

Education

Bachelor's degree in a relevant field

Advanced degree in business or finance

Tools

Nortridge Loan System

Microsoft Dynamics 365

Job description

Founded in 1971, the Housing Assistance Council (HAC) is a national nonprofit and a certified community development financial institution dedicated to helping local rural organizations build affordable homes by providing below-market financing, technical assistance, training, research, and information services. HAC’s mission is to improve housing conditions for the rural poor, with an emphasis on the poorest of the poor in the most rural places, particularly regions and populations with high needs: Native American communities, the Mississippi Delta, farmworkers, the southwest border colonias, and Appalachia.

HAC’s loan fund provides capital for development and preservation of affordable housing in rural communities, in service to HAC’s mission.HAC lends to both for-profit and non-profit developers for acquisition of land and buildings, predevelopment expenses,constructionandsome permanentfinancing for operating rental properties.

HAC is seeking a candidate who is highly organized and highly productive, whois able towork independently (but within the context of a team) and who canmaintainhigh-qualitystandards, despite the fast-paced and high volume of work performed.

At HAC, we celebrate the rich diversity of rural America and proudlymaintaina diverse staff and Board of Directors. We are an equal opportunity workplace whose decades of success come from being open, inclusive, and connected to each other. HAC’s hiring and employment practices treat everyone fairly and equally regardless of race, color, ethnicity, gender, national origin, age, religion, sexual orientation, disability, marital or familial status, ancestry, or status as a veteran. Black, Indigenous and people of color are strongly encouraged to apply.

HAC’s loan fund provides capital for development and preservation of affordable housing in rural communities, in service to HAC’s mission.HAC lends to both for-profit and non-profit developers for acquisition of land and buildings, predevelopment expenses,constructionandsome permanentfinancing for operating rental properties.

HAC is seeking a candidate who is highly organized and highly productive, whois able towork independently (but within the context of a team) and who canmaintainhigh-qualitystandards, despite the fast-paced and high volume of work performed.

At HAC, we celebrate the rich diversity of rural America and proudlymaintaina diverse staff and Board of Directors. We are an equal opportunity workplace whose decades of success come from being open, inclusive, and connected to each other. HAC’s hiring and employment practices treat everyone fairly and equally regardless of race, color, ethnicity, gender, national origin, age, religion, sexual orientation, disability, marital or familial status, ancestry, or status as a veteran. Black, Indigenous and people of color are strongly encouraged to apply.

Summary

The Loan OfficerrepresentsHAConitsaffordablehousinglending activities. This work willincludemarketing,originating,and underwritingnew loan transactions in the Loan Fund Division.The Loan Officermakes recommendations for approval of loans and presents the recommendations bothin writing and orally.The Loan Officer works closely withPortfolio ManagersandAssetManagers who close and service loans.

The position comes with a competitive salary, generousbenefits,andthe opportunity to workinafun and mission-focusedenvironment.The positioncan be either remote orbased in HAC’s Washington, DC headquarters.

Responsibilities

• Structure loan transactions in compliance with internal credit and program requirements.
• Contribute to loan production goals byidentifyinglending opportunities and originating new loansparticularly foraffordable housing development andpreservation.
• Prepare and negotiate loan proposals with borrowers and partners (term sheets and commitment letters).
• Underwrite and review loan applications,prepare and present loan recommendationsand loan modification requestsfor Chief Executive Officer and Loan Committee review.With review from Senior Loan Officer, recommend loans for approval with suggested risk ratingsbased on HAC’s risk rating procedures.
• Manage the loan approval process from deal screening,through due diligence,to loan approval.
• Assistin the loan closing process by working with theclosing team.Assistin the loan closing process by working with theclosing team.
• Evaluate,underwriteand processloan modifications as needed.
• Attend industry trade conferences and makepresentations;and foster andmaintainkey strategic relationships.
• Assist with theHACloan fundmarketing.
• Provideexcellent customer serviceto borrowers and potential borrowers.
• Work with partners on loanparticipations.
• Conduct site visits, as needed.
• Participate in strategic planning and innovationprocess.
• Keep abreast of industry standards, challenges, and changes influencing lending activities.
• Formulate and execute strategies for problem loans and at-risk projects.

Other Duties:

• Fromtime-to-time,Loan Officer willhave an opportunity or berequiredto work on miscellaneous projects and initiatives related to either the lending functions or across the organization as needed.
• Participatein HAC’s biannual Rural Affordable Housing Conference

Requirements

• Bachelor’s degree in relevant field preferred
• Minimum of 3 years’ work experience in real estate finance or real estate development
• Experience withaffordablehousingunderwriting, rental and/orfor-sale,inallstages of development including predevelopment, acquisition, construction, permanent financing
• Experience in affordablerentalhousing, including development processes, public financing sources, multi-layered deal structuring, andworking withaffordable housing developers/nonprofit organizations
• Knowledge of Community Development Financial Institutions(CDFIs) andCDFI Fund programs
• Demonstrated experience in preparing and negotiating complex transactions and balancing the programmatic needs of community-based organizations with sound underwriting judgment and risk mitigation
• Familiarity with federal, state, and local community development programs, especially USDA Rural Development and Low-Income Housing Tax Credits
• Strong financial, analytical, and communication skills
• Sufficient credit skills to conduct risk assessment and manage a portfolio
• Excellent organizational skills and ability to prioritize and manage multiple tasks/projects and meet deadlines
• Proficiencywith Microsoft Office (particularly Word, Excel, and Power Point); Adobe Acrobat;NortridgeLoan System (NLS) or other loan servicing systems,and Microsoft Dynamics 365 (or other CRM)
• Superior analytic and problem-solving skills

Preferred

• Advanced degree in business,financeor related field
• Knowledge of and experience with standard legal principles and procedures related to real estate transactions, property transfers, and collateral
• Rental housing preservation experience, especially with USDA-financed housing(as lender,developer,owneror subsidy provider)
• Commitment to social justice issues
• Interest in rural, low-income housing

Compensation and Benefits

HAC offers competitive wages, benefits, and growth opportunities consistent with industry standards. Flexible benefits packages include health insurance; life and other insurance; financial benefits, to include a retirement plan with partial employer match; time off; and work/life benefits, to include education assistance. Salary range is $85,000 to $95,000 per year, depending on qualifications.