Intern

New Jersey Housing and Mortgage Finance Agency•Trenton, NJ

44d

About The Position

The HMFA Internship Program emphasizes a broad range of housing and finance activities within various divisions to stimulate the development of professional understanding and skills. The Internship will last for two years, during which time the intern will be placed in a specific division of interest or may rotate between any combination of up to four divisions, including but not limited to: Multifamily Programs and Credit, Multifamily Lending and Preservation, Tax Credit Services, Policy and Planning, Supported Housing and Special Needs, Contract Administration and Property Management. The Intern will work with each assigned Division Director and multiple mentors for eight (8) weeks to learn about the various operations of each Division. The intern will perform tasks, including but not limited to those listed below. Multifamily Programs and Credit: Assist with the underwriting of multifamily rental housing applications to gain an understanding of various programs and subsidies, and assist in the marketing, evaluating, and processing of multifamily rental housing loans. Work with multiple cities, counties, and state agencies on different funding, such as COHA, Greenfunds, Balanced Housing, CDBG, and the Federal Homeless Bank for multifamily projects. Assist with the evaluation of the design of the project, the development cost, the risk factors, and a timely closing; seek cooperation and coordination of federal, state, and municipal agencies, as well as private enterprise. Work with Credit Officers to conduct site inspections. Assist in making analyses of land suitability, eligibility for subsidies, and marketability of housing. Assist with the review of developer/sponsor proposals for marketability and make suggestions regarding housing proposals. Tax Credit Services: Work with Tax Credit Analysts to monitor compliance with Section 42 of the IRS Code and NJQAP. Assist with review of the analysis of rent calculations and the documentation that supports the tenant's income certification. Follow up with the owner to ensure that missing documentation is supplied, which is necessary to bring the project into compliance within the established time frame. Assist with review of the project's vacancy list to determine low-income unit vacancies in the building and other information that shows where, and to whom, the next available units were rented. Perform on-site project inspections with Tax Credit Analysts as required. Assist with notification of building owners and the Internal Revenue of noncompliance with Section 42 of the code. Human Resources: Assist with recruitment responsibilities (posting positions, screening resumes, scheduling interviews). Support onboarding and offboarding processes by preparing paperwork and coordinating new hire orientations. Maintain and update employee records in HR systems (Neogov, Taleo) Help coordinate training and development programs Assist with benefits administration and employee inquiries Prepare HR reports and assist with data analysis Maintain confidentiality of sensitive employee information Provide general administrative support to the HR team Policy and Planning: Provide program information to individuals, housing sponsors and other members of the public. Attend panels and workshops related to community development and/or community planning projects. Assist unit with the development and implementation of Agency policy and planning projects and initiatives. Conduct physical, web-based and academic research related to Agency policy and programmatic goals. Assist in the development of agency programs to support energy efficiency and renewable energy. Analyze and understand best practices and new technologies in sustainable development and green building. Supported Housing and Special Needs: Work with the Special Needs Housing Officer to review and process supported housing and special needs rental housing program applications and assist applicants applying for special needs programs and other potential sources, i.e., LIHTC (Low Income Housing Tax Credits), Balanced Housing, Home Funds, HUD Continuum of Care, and social service funding as needed. Work on financial analyses of mortgage applications and assist in development of financial feasibility strategies. Work with Special Needs Housing Officer to conduct site inspections and staff and complete analyses of site suitability, eligibility for subsidies, and marketability of housing; prepare reports based on findings. Assist Community Development Officers with applicants, working to complete applications, clarify housing models, and target population needs, and understand the application and financing process. Contract Administration: Assist with follow-up on HUD physical inspections to determine compliance with established procedures. Assist Contract Administrators with Management and Occupancy Reviews in accordance with HUD specifications. Identify problems related to the operation of the development, management deficiencies, excessive vacancies, or other areas identified by HUD as problems. Review Section 8 HUD vouchers. Review and correct vacancy payments during and after the initial rent-up period. Review re-marketing efforts to ensure compliance with federal regulations. Coordinate special projects, including Tenant Rental Assistance Certification Systems (TRACS) and Housing Assistance Payment (HAP) voucher intake and evaluation; assist with the preparation and follow-up of contract documents; when necessary, prepare and submit accurate and informative reports containing findings, statistical information, analyses, conclusions and recommendations. Learn to maintain the database of electronic transmission of tenant files through the Tenant Rental Assistance Certification System (TRACS) and to receive and transmit TRACS files. Update rent schedules as required. Work with TRACS Coordinators to troubleshoot problematic TRACS files and systematic occurrences within the software. Assist HMFA developments to ensure they satisfy the requirements of TRACS in accordance with HUD regulations. Property Management: Assist HMOs with financial reviews of operating budgets, financial statements, and monthly operating reports on HMFA-financed properties to determine compliance with established procedures and accounting policies. Document all variations to policy and/or operating budget. Perform physical and follow-up inspections with HMOs. Assist with identification of problems at "troubled projects", including management deficiencies, excessive vacancies, escrow, and debt service delinquencies. Assist Occupancy Specialist with duties related to Section 8 and 236 monitoring, including compliance with the H.U.D. 4350.3 Handbook and other rules and regulations outlined in the Management Manual. Work with the Financial Analyst Coordinator to conduct financial analyses as needed for workouts and refinancing. Assist with the review of return on equity requests, real estate tax payments, and rent increase requests as needed. Learn to maintain the database of electronic transmission of tenant files through the Tenant Rental Assistance Certification System (TRACS) and to receive and transmit TRACS files. Update rent schedules as required. Work with TRACS Coordinators to troubleshoot problematic TRACS files and systematic occurrences. Assist HMFA developments to ensure they satisfy the requirements of TRACS in accordance with HUD regulations.

Requirements

Currently enrolled full-time in an undergraduate degree program.
Strong analytical and quantitative skills.
Ability to enter and retrieve computer data.
Ability to communicate effectively orally and in writing and to listen actively.
Ability to establish and maintain effective working relationships with staff and the general public.

Responsibilities

Assist with the underwriting of multifamily rental housing applications to gain an understanding of various programs and subsidies, and assist in the marketing, evaluating, and processing of multifamily rental housing loans.
Work with multiple cities, counties, and state agencies on different funding, such as COHA, Greenfunds, Balanced Housing, CDBG, and the Federal Homeless Bank for multifamily projects.
Assist with the evaluation of the design of the project, the development cost, the risk factors, and a timely closing; seek cooperation and coordination of federal, state, and municipal agencies, as well as private enterprise.
Work with Credit Officers to conduct site inspections.
Assist in making analyses of land suitability, eligibility for subsidies, and marketability of housing.
Assist with the review of developer/sponsor proposals for marketability and make suggestions regarding housing proposals.
Work with Tax Credit Analysts to monitor compliance with Section 42 of the IRS Code and NJQAP.
Assist with review of the analysis of rent calculations and the documentation that supports the tenant's income certification.
Follow up with the owner to ensure that missing documentation is supplied, which is necessary to bring the project into compliance within the established time frame.
Assist with review of the project's vacancy list to determine low-income unit vacancies in the building and other information that shows where, and to whom, the next available units were rented.
Perform on-site project inspections with Tax Credit Analysts as required.
Assist with notification of building owners and the Internal Revenue of noncompliance with Section 42 of the code.
Assist with recruitment responsibilities (posting positions, screening resumes, scheduling interviews).
Support onboarding and offboarding processes by preparing paperwork and coordinating new hire orientations.
Maintain and update employee records in HR systems (Neogov, Taleo)
Help coordinate training and development programs
Assist with benefits administration and employee inquiries
Prepare HR reports and assist with data analysis
Maintain confidentiality of sensitive employee information
Provide general administrative support to the HR team
Provide program information to individuals, housing sponsors and other members of the public.
Attend panels and workshops related to community development and/or community planning projects.
Assist unit with the development and implementation of Agency policy and planning projects and initiatives.
Conduct physical, web-based and academic research related to Agency policy and programmatic goals.
Assist in the development of agency programs to support energy efficiency and renewable energy.
Analyze and understand best practices and new technologies in sustainable development and green building.
Work with the Special Needs Housing Officer to review and process supported housing and special needs rental housing program applications and assist applicants applying for special needs programs and other potential sources, i.e., LIHTC (Low Income Housing Tax Credits), Balanced Housing, Home Funds, HUD Continuum of Care, and social service funding as needed.
Work on financial analyses of mortgage applications and assist in development of financial feasibility strategies.
Work with Special Needs Housing Officer to conduct site inspections and staff and complete analyses of site suitability, eligibility for subsidies, and marketability of housing; prepare reports based on findings.
Assist Community Development Officers with applicants, working to complete applications, clarify housing models, and target population needs, and understand the application and financing process.
Assist with follow-up on HUD physical inspections to determine compliance with established procedures.
Assist Contract Administrators with Management and Occupancy Reviews in accordance with HUD specifications.
Identify problems related to the operation of the development, management deficiencies, excessive vacancies, or other areas identified by HUD as problems.
Review Section 8 HUD vouchers.
Review and correct vacancy payments during and after the initial rent-up period.
Review re-marketing efforts to ensure compliance with federal regulations.
Coordinate special projects, including Tenant Rental Assistance Certification Systems (TRACS) and Housing Assistance Payment (HAP) voucher intake and evaluation; assist with the preparation and follow-up of contract documents; when necessary, prepare and submit accurate and informative reports containing findings, statistical information, analyses, conclusions and recommendations.
Learn to maintain the database of electronic transmission of tenant files through the Tenant Rental Assistance Certification System (TRACS) and to receive and transmit TRACS files.
Update rent schedules as required.
Work with TRACS Coordinators to troubleshoot problematic TRACS files and systematic occurrences within the software.
Assist HMFA developments to ensure they satisfy the requirements of TRACS in accordance with HUD regulations.
Assist HMOs with financial reviews of operating budgets, financial statements, and monthly operating reports on HMFA-financed properties to determine compliance with established procedures and accounting policies.
Document all variations to policy and/or operating budget.
Perform physical and follow-up inspections with HMOs.
Assist with identification of problems at "troubled projects", including management deficiencies, excessive vacancies, escrow, and debt service delinquencies.
Assist Occupancy Specialist with duties related to Section 8 and 236 monitoring, including compliance with the H.U.D. 4350.3 Handbook and other rules and regulations outlined in the Management Manual.
Work with the Financial Analyst Coordinator to conduct financial analyses as needed for workouts and refinancing.
Assist with the review of return on equity requests, real estate tax payments, and rent increase requests as needed.