Loan Officer

Housing Assistance Council Inc•Washington, DC

7d•$85,000 - $95,000•Hybrid

About The Position

Founded in 1971, the Housing Assistance Council (HAC) is a national nonprofit and a certified community development financial institution dedicated to helping local rural organizations build affordable homes by providing below-market financing, technical assistance, training, research, and information services. HAC’s mission is to improve housing conditions for the rural poor, with an emphasis on the poorest of the poor in the most rural places, particularly regions and populations with high needs: Native American communities, the Mississippi Delta, farmworkers, the southwest border colonias, and Appalachia. HAC’s loan fund provides capital for development and preservation of affordable housing in rural communities, in service to HAC’s mission. HAC lends to both for-profit and non-profit developers for acquisition of land and buildings, predevelopment expenses, construction and some permanent financing for operating rental properties. HAC is seeking a candidate who is highly organized and highly productive, who is able to work independently (but within the context of a team) and who can maintain high-quality standards, despite the fast-paced and high volume of work performed. At HAC, we celebrate the rich diversity of rural America and proudly maintain a diverse staff and Board of Directors. We are an equal opportunity workplace whose decades of success come from being open, inclusive, and connected to each other. HAC’s hiring and employment practices treat everyone fairly and equally regardless of race, color, ethnicity, gender, national origin, age, religion, sexual orientation, disability, marital or familial status, ancestry, or status as a veteran. Black, Indigenous and people of color are strongly encouraged to apply. POSITION SUMMARY The Loan Officer represents HAC on its affordable housing lending activities. This work will include marketing, originating, and underwriting new loan transactions in the Loan Fund Division. The Loan Officer makes recommendations for approval of loans and presents the recommendations both in writing and orally. The Loan Officer works closely with Portfolio Managers and Asset Managers who close and service loans. The position comes with a competitive salary, generous benefits, and the opportunity to work in a fun and mission-focused environment. The position can be either remote or based in HAC’s Washington, DC headquarters.

Requirements

Bachelor’s degree in relevant field preferred
Minimum of 3 years’ work experience in real estate finance or real estate development
Experience with affordable housing underwriting, rental and/or for-sale, in all stages of development including predevelopment, acquisition, construction, permanent financing
Experience in affordable rental housing, including development processes, public financing sources, multi-layered deal structuring, and working with affordable housing developers/nonprofit organizations
Knowledge of Community Development Financial Institutions (CDFIs) and CDFI Fund programs
Demonstrated experience in preparing and negotiating complex transactions and balancing the programmatic needs of community-based organizations with sound underwriting judgment and risk mitigation
Familiarity with federal, state, and local community development programs, especially USDA Rural Development and Low-Income Housing Tax Credits
Strong financial, analytical, and communication skills
Sufficient credit skills to conduct risk assessment and manage a portfolio
Excellent organizational skills and ability to prioritize and manage multiple tasks/projects and meet deadlines
Proficiency with Microsoft Office (particularly Word, Excel, and Power Point); Adobe Acrobat; Nortridge Loan System (NLS) or other loan servicing systems, and Microsoft Dynamics 365 (or other CRM)
Entrepreneurial spirit
Superior analytic and problem-solving skills

Nice To Haves

Advanced degree in business, finance or related field
Knowledge of and experience with standard legal principles and procedures related to real estate transactions, property transfers, and collateral
Rental housing preservation experience, especially with USDA-financed housing (as lender, developer, owner or subsidy provider)
Commitment to social justice issues
Interest in rural, low-income housing

Responsibilities

Structure loan transactions in compliance with internal credit and program requirements.
Contribute to loan production goals by identifying lending opportunities and originating new loans particularly for affordable housing development and preservation.
Prepare and negotiate loan proposals with borrowers and partners (term sheets and commitment letters).
Underwrite and review loan applications, prepare and present loan recommendations and loan modification requests for Chief Executive Officer and Loan Committee review. With review from Senior Loan Officer, recommend loans for approval with suggested risk ratings based on HAC’s risk rating procedures.
Manage the loan approval process from deal screening, through due diligence, to loan approval.
Assist in the loan closing process by working with the closing team.
Evaluate, underwrite and process loan modifications as needed.
Attend industry trade conferences and make presentations; and foster and maintain key strategic relationships.
Assist with the HAC loan fund marketing.
Provide excellent customer service to borrowers and potential borrowers.
Work with partners on loan participations.
Conduct site visits, as needed.
Participate in strategic planning and innovation process.
Keep abreast of industry standards, challenges, and changes influencing lending activities.
Formulate and execute strategies for problem loans and at-risk projects.
From time-to-time, Loan Officer will have an opportunity or be required to work on miscellaneous projects and initiatives related to either the lending functions or across the organization as needed.
Participate in HAC’s biannual Rural Affordable Housing Conference