Asset Manager II

Maine State Housing Authority•Augusta, ME

About The Position

Primary Purpose of Position: The Asset Manager II is responsible for the oversight of the financial and regulatory administration of funded properties within MaineHousing’s multi-family portfolio as well as properties under the Performance-Based Contract Administration contract held with the U.S. Department of Housing and Urban Development (HUD). The position is responsible for establishing and maintaining the primary working relationship with their assigned property owners and management companies throughout Maine as well as federal regulatory agencies providing funding and contract work.

Requirements

Education and four years of relevant work experience or a combination of education and training preferred.
Experience with comprehending and interpreting legal documents and regulatory guidelines, and experience with the affordable housing industry highly desired.
Certified Occupancy Specialist Training (COS)
Tax Credit Specialist Training (TCS)
Federal HOME, HTF and HOME-ARP Program Training
General Asset Management Training (Risk Assessments, Real Estate, etc.)
Fair Housing/Section 504/ADA Training
Develop competency with multiple department databases: Prolink, HDS, HUD Secure Systems
Training and certifications to be obtained within the first year of employment or as the courses become available
Experience working with multifamily real estate
Ability to understand and interpret regulatory documents and State and Federal statutes and regulations
Strong project management, time management, and organizational skills
Strong PC skills using various software including Microsoft 365 (especially Word and Excel), ShareFile/SharePoint, Windows, internet browsers
Ability to establish and maintain good working relationships with business partners
Excellent communication skills – speaking, writing, and listening via phone, email, and in-person meetings
Ability to communicate effectively in front of groups
Ability to take initiative, work independently, and use creativity and analytical skills to resolve complex issues among multiple parties

Responsibilities

Review projects for compliance to federal, state and agency regulatory requirements and proactively monitor to anticipate developing issues and risks that could impact MaineHousing’s financial exposure in the investments
Review and analyze budgets and Audited Financial Reviews (AFR) for financial risk by monitoring debt coverage ratio, accounts receivable, vacancy loss, bad debt, net income/loss and recognized cost deemed unreasonable
Analyze on-going capital investments/needs of a property through the evaluation and comparison of routine inspection results, capital needs assessments, budget data, damage claims and replacement reserve requests
Review of annual program reporting for conformance to state and federal requirements
Conduct management and occupancy reviews to ensure management practices and program occupancies conform to the regulatory requirements that are specific to each property. Review and sign off on any MORs conducted by AM I’s for projects in portfolio.
Review and approve all requests for use of property reserve funds
Review of management documents, which may include Management Plans, Management Agreements, Marketing Plans, Tenant Selection Plans, and leases whenever a document changes or an ownership or management change occurs to projects in portfolio.
Make recommendations to Director of Asset Management and Portfolio Manager on troubled projects
Draft Notice of Violations and defaults when non-compliance is identified, follow-up on reporting and program compliance
Perform essential key tasks required under the Performance Based Contract Administration (PBCA) held with HUD
Conduct management and occupancy reviews to ensure management practices and occupancy conform to the HUD regulatory requirements specific to each project.
Perform review and sign off on PBCA MORs completed by AM I’s.
Provide timely reporting of results of the review to owners (within 30 days).
Perform on-site walk-through inspection of the property’s physical plant conditions.
Timely response to tenant inquiries regarding any life safety concerns
Assist AM III with bringing new properties online by participating in project meetings and the Pre-occupancy Meeting with the Owner/Management team for those projects that will be assigned once trained.
Assist AM III and participate in workouts and new loan proposals for projects in portfolio.
Participate in training for staff and external partners
Maintain working knowledge of various federal and state program regulations applicable to the portfolio including Bond regulations, Code of Federal Regulations, IRC Section 42, HUD Handbook 4350.3, Sec 8 Contract Renewal Guide, Special Claims, FedHOME, HTF, HOME-ARP, PRA811, Fair Housing Laws and Section 504 Requirements as well as any new programs coming online
Apply the appropriate requirements to the projects assigned
Provide training and technical assistance to owners and management agents
Respond to residents, owners, managers, and other external inquiries and issues through telephone, written, and electronic mediums
Provide support to the Asset Manager III’s in processing ownership transfers that include a subsequent loan component
Coordinate with AM III’s, Finance and Legal teams on Promissory Note Cancellations and Mortgage Discharge processes
Other duties as assigned