Loan Administrator

Maryland Department of Housing and Community Development (DHCD); Lanham (MD); Hybrid; USD 63,000 - 71,000; Full time

Benefits offered by this job

Flexible work schedule

Hybrid telework

Job sharing options

Training and career path opportunities

Job summary

Maryland Department of Housing and Community Development (DHCD) seeks a Loan Administrator to manage underwriting and approval for multifamily housing development programs. The role reports to the Director for Rental Lending and involves extensive coordination with a wide range of public and private stakeholders from application through construction.

The position supports the Department’s mission to provide safe, decent and affordable housing, with duties including interaction with HUD under the

Responsibilities

• Oversee loan underwriting and approval for the Community Development Administration’s Multifamily Housing Development Programs.
• Coordinate communications among public and private participants over 12–15 months until construction begins.
• Serve as primary point of contact with HUD under the 542(c) Risk Sharing program.

Job description

Work that matters. The Maryland Department of Housing and Community Development (DHCD) is a national leader in the financing of affordable housing and revitalizing communities.This is an opportunity to join this nationally recognized, award-winning organization and apply your skills to this high public purpose and challenging area.Annually, DHCD finances approximately 4,000 units of multifamily rental housing in 40 properties, amounting to $500 million in construction and permanent financing.Funding comes from a variety of sources, including state-appropriated funds, taxable and tax-exempt revenue bonds, federal low-income housing tax credits, federal HOME funds, and other federal funds.Additionally, DHCD administers rental assistance programs and innovative initiatives designed to expand affordable housing opportunities for persons with disabilities, increase the energy efficiency and sustainability of affordable multifamily developments, and preserve rental housing.

DHCD offers a flexible work schedule, full state of Maryland benefits, hybrid telework and job sharing options; training, advancement and career path opportunities; and a competitive salary. There is ample and our offices are located in walking distance to the New Carrollton MARC Train Station.

The Loan Administrator manages the processing of loan underwriting and approval for the Community Development Administration’s Multifamily Housing Development Programs, and reports directly to the Director for Rental Lending, Multifamily Housing Development Programs. This position oversees a process that begins with an application and involves extensive communication among a very large array of public and private participants typically lasting 12-15 months until the project begins construction. In addition, the position is the primary point of contact with HUD under the 542(c) Risk Sharing program which provides debt for approximately 25% of the Department’s multifamily financing program’s volume. In these regards the position directly contributes to the Department’s mission of providing safe, decent and affordable housing for low- and moderate-income individuals and families.

This position offers a salary range of $63,154 - $71,125/year, with potential for advancement up to $99,603/year based on qualifications, equity, and hiring guidelines.Initial salary offers are determined by qualifications, experience, and available budget, and typically do not exceed $71,125/year.