Originator

National Equity Fund•Los Angeles, CA

About The Position

National Equity Fund, Inc. (NEF), a leading non-profit syndicator of low-income housing tax credits (LIHTC), is seeking an Originator to conduct a wide range of new business initiatives. The LIHTC program is the most important resource available today for creating affordable housing in the United States. NEF uses its extensive experience, talent, and resources to create sustainable affordable housing. The Originator will originate low-income housing tax credit investments. Represent NEF and manage the production workload in the designated region. Responsible for structuring transactions in a manner consistent with Investor expectations to ensure long-term project viability and meet NEF’s mission. Successful in working independently and collaboratively across departments to structure and negotiate transactions. Essential duties: • Secure Low Income Housing Tax Credit (LIHTC) investments in the designated region at levels as established by the Regional Managing Director and Chief of Production. • Work closely with investor relations and capital markets colleagues to successfully identify and secure investor interest in LIHTC transactions. • Responsible for NEF marketing efforts in the designated region in collaboration with Regional Managing Director. Maintain existing and establish new relationships with non-profit and for-profit low-income housing developers, funders, lenders, and state allocating agencies in designated markets. • Possess strong knowledge of complex real estate underwriting, Section 42 requirements, various state tax credits, Historic Tax Credits, energy credits, project-based rental subsidies and vouchers, and relevant tax topics and issues including minimum gain and grant structures. • Structure LIHTC transactions according to NEF established underwriting guidelines and pricing parameters. Work through credit issues with the Regional Managing Director. Must be able to analyze a project’s income structure, operating expenses, debt service requirements, market studies and a developer’s financial and development capacity. • Establish fluency with respect to the NEF investment proforma and underwriting model, including an understanding of investment fund parameters and requirements. • Work and coordinate with NEF staff in other departments (including but not limited to Project Management, Asset Management, Asset Operations, and Accounting) in managing and resolving project level issues in the designated geography. • NEF originators must have the ability to effectively manage and leverage affiliate stakeholder relationships in the designated region. This may include participation in affiliate or partner meetings or providing trainings for affiliate or partner staff and their clients. • Mentor and provide guidance to the Originations Analysts to transfer knowledge and best practices to encourage professional development and growth. • Other duties and special projects as assigned by the Regional Managing Director

Requirements

Minimum of 5 years’ experience in underwriting and structuring LIHTC projects.
Ability to work independently and effectively on numerous projects at the same time.
Strong analytical skills and proficiency in Microsoft Office programs, including Excel and Word and other relevant applications.
Strong communication and presentation skills, both written and verbal.
Possess excellent customer service skills and conducts oneself with utmost professionalism with colleagues and with external stakeholders.
Ability to explain complex financing structures to developers, stakeholders, funders, and other related audiences.

Nice To Haves

Undergraduate or graduate degree in business, economics, urban planning or finance preferred.

Responsibilities

Secure Low Income Housing Tax Credit (LIHTC) investments in the designated region at levels as established by the Regional Managing Director and Chief of Production.
Work closely with investor relations and capital markets colleagues to successfully identify and secure investor interest in LIHTC transactions.
Responsible for NEF marketing efforts in the designated region in collaboration with Regional Managing Director.
Maintain existing and establish new relationships with non-profit and for-profit low-income housing developers, funders, lenders, and state allocating agencies in designated markets.
Possess strong knowledge of complex real estate underwriting, Section 42 requirements, various state tax credits, Historic Tax Credits, energy credits, project-based rental subsidies and vouchers, and relevant tax topics and issues including minimum gain and grant structures.
Structure LIHTC transactions according to NEF established underwriting guidelines and pricing parameters.
Work through credit issues with the Regional Managing Director.
Must be able to analyze a project’s income structure, operating expenses, debt service requirements, market studies and a developer’s financial and development capacity.
Establish fluency with respect to the NEF investment proforma and underwriting model, including an understanding of investment fund parameters and requirements.
Work and coordinate with NEF staff in other departments (including but not limited to Project Management, Asset Management, Asset Operations, and Accounting) in managing and resolving project level issues in the designated geography.
NEF originators must have the ability to effectively manage and leverage affiliate stakeholder relationships in the designated region.
This may include participation in affiliate or partner meetings or providing trainings for affiliate or partner staff and their clients.
Mentor and provide guidance to the Originations Analysts to transfer knowledge and best practices to encourage professional development and growth.
Other duties and special projects as assigned by the Regional Managing Director