Lending Analyst II
About The Position
The Lending Analyst II reviews and underwrites multifamily affordable housing applications, assessing eligibility for Low-Income Housing Tax Credits (LIHTC), tax-exempt bond financing, and Agency loans. The role evaluates project financial feasibility and compliance with Agency requirements, including its QAP, Development Cost Limits, and Application Instructions, and monitors the 25% test for tax-exempt volume cap transactions. The analyst manages assigned developments as the primary point of contact, coordinating reviews and communication among developers and internal Agency divisions. The position supports transaction execution and financial closings, prepares review and closing materials, and coordinates financing and bond strategies with Legal and Finance. The role also monitors regulatory and policy compliance, identifies application deficiencies, maintains project documentation and Agency-system records, prepares Board materials and status documentation, and represents the Agency in industry settings. It includes research and recommendations to improve programs and operations, ongoing professional development, and maintaining the required in-office presence while collaborating with Agency staff.
Requirements
- Bachelor’s degree or an equivalent amount of relevant experience.
- Three to five years of work experience in the affordable multifamily housing field.
- Previous work experience with Low Income Housing Tax Credit underwriting or development.
Nice To Haves
- A degree in business administration, public administration, finance, computer technology, or real estate is preferred.
- Bachelor of Science in Business Administration/Management is listed in the qualifications.
- Relevant professional experience of 2–5 years is listed in the qualifications.
Responsibilities
- Coordinate reviews of assigned multifamily applications and determine eligibility for LIHTC, tax-exempt bond financing, and Agency loans.
- Underwrite complex affordable housing transactions and review applications, environmental reports, appraisals, market studies, financing commitments, and project updates.
- Assess financial feasibility and compliance with the Agency's QAP, Development Cost Limits, and Application Instructions.
- Conduct and monitor the 25% test for tax-exempt volume cap transactions.
- Serve as the primary contact for assigned developments and liaise between developers and internal Agency divisions.
- Coordinate project review activities, submission requirements, timelines, and stakeholder communication.
- Reprioritize projects based on Agency staffing, financing resources, and bond issuance schedules.
- Participate in weekly project closing calls following Board approval.
- Facilitate financial closings; finalize pre-commitment packages, modification requests, and Board write-ups.
- Prepare closing documents, including Subsidy Layering Reviews, Indentures of Restrictive Covenants, invoices, 42(m) Letters, and other required documents.
- Coordinate financing and bond strategies with Legal and Finance Departments.
- Ensure projects comply with Agency policies, underwriting standards, program requirements, and applicable federal, state, and local affordable housing programs.
- Monitor project financing structures for consistency with Agency policies and identify and address application deficiencies.
- Maintain expertise in HUD, Housing Authority, municipal, county, and redevelopment authority programs.
- Prepare developer correspondence and underwriting review memoranda; document deficiencies and required resolutions.
- Maintain complete electronic and hard-copy project files, ensure timely and accurate Agency-system data entry, and produce Board materials and project status documentation.
- Represent the Agency at industry conferences, meetings, groundbreakings, ribbon cuttings, and housing events; build relationships with developers, financing partners, and other stakeholders.
- Monitor affordable housing industry trends and policy developments and recommend program enhancements based on emerging trends.
- Conduct qualitative and quantitative research to improve programs, guidelines, and operational efficiency, and support department improvement initiatives.
- Participate in Agency-sponsored training and professional development and maintain current knowledge of affordable housing finance, underwriting, and regulatory requirements.
- Maintain the required in-office presence, collaborate with Agency staff, and perform additional duties as assigned.
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What This Job Offers
Job Type
Full-time
Career Level
Mid Level
