Lending Analyst II

Pennsylvania Housing Finance Agency•Pittsburgh, PA

About The Position

The Lending Analyst II coordinates underwriting and financial analysis for assigned multifamily affordable housing applications. The role evaluates eligibility for Low-Income Housing Tax Credits (LIHTC), tax-exempt bond financing, and Agency loans, and reviews project materials and financial structures for feasibility and compliance with Agency policies and program requirements. The analyst manages assigned projects from application review through closing, serving as a primary contact and coordinating with developers and internal Agency divisions. Responsibilities include preparing underwriting memoranda, correspondence, Board materials, and closing documents; addressing deficiencies; maintaining project records and Agency data; and coordinating financing and bond strategies with Legal and Finance. The role also supports regulatory compliance and risk management, represents the Agency at industry events, monitors affordable housing trends, conducts research, and recommends program and operational improvements. The employee is expected to maintain the required in-office presence, collaborate with Agency staff, participate in professional development, and perform other duties as assigned.

Requirements

Bachelor's degree; the posting identifies a Bachelor of Science in Business Administration/Management and notes that a preferred degree may be in business administration, public administration, finance, computer technology, or real estate.
Equivalent relevant experience may be considered in place of the degree.
Three to five years of work experience in the affordable multifamily housing field; the qualifications section also lists relevant professional experience of 2–5 years.
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.

Responsibilities

Coordinate the review of assigned multifamily applications.
Determine eligibility for Low-Income Housing Tax Credits (LIHTC), tax-exempt bond financing, and Agency loans.
Apply prudent underwriting techniques to complex affordable housing transactions.
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 point of contact for assigned developments and act as a liaison between developers and internal Agency divisions.
Facilitate communication among Housing Management, Technical Services, Financing, Legal, and other stakeholders.
Coordinate project review activities and ensure adherence to submission requirements and timelines.
Reprioritize projects based on Agency staffing, financing resources, and bond issuance schedules.
Participate in weekly project closing calls following Board approval.
Facilitate financial closings for multifamily developments.
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 meet Agency policies, underwriting standards, and program requirements.
Verify compliance with federal, state, and local affordable housing funding programs.
Monitor project financing structures for consistency with Agency policies.
Maintain expertise in HUD, Housing Authority, municipal, county, and redevelopment authority programs.
Identify and address application deficiencies throughout the underwriting process.
Prepare developer correspondence and underwriting review memoranda.
Document deficiencies and required resolutions throughout the review process.
Maintain complete electronic and hard-copy project files.
Ensure timely and accurate data entry into Agency systems.
Produce Board materials and project status documentation.
Represent the Agency at industry conferences, meetings, groundbreakings, ribbon cuttings, and housing events.
Build and maintain relationships with developers, financing partners, and industry stakeholders.
Represent the Agency during project development and closing activities.
Monitor affordable housing industry trends and policy developments.
Recommend program enhancements and respond to emerging market trends.
Conduct qualitative and quantitative research to improve Agency programs, guidelines, and operational efficiencies.
Support continuous improvement initiatives within the department.
Participate in Agency-sponsored training and professional development opportunities.
Maintain current knowledge of affordable housing finance, underwriting, and regulatory requirements.
Maintain required in-office presence and collaborate effectively with Agency staff.
Perform additional duties as assigned.