Portfolio Conversion Analyst - MF

Illinois Housing Development • Chicago, IL

2d • $69,488 - $86,860 • Hybrid

About The Position

Portfolio analyst to provide analytical and technical support to the Underwriting Manager and MF Team. Analyst will collect, input, and review construction and leasing reports; prepare reports; assist Underwriting Manager with timing and receipt of equity installments as needed; analyze property financials for stabilization; perform mortgage credit review (financial analysis) on Borrowers and guarantors; complete analysis of property financials for stabilization; complete analysis of quarterly and annual operating results; undertake projects.

Requirements

• BA/BS in accounting, finance or related field
• Prior experience in underwriting commercial real estate.
• Excellent communication, organizational and interpersonal skills, along with the ability to multi-task under tight deadlines.
• Strong motivation, with the ability to work without supervision and take responsibility for increasingly complex tasks.
• Keen judgment, a strong work ethic.
• High attention to detail and the desire to take ownership of a process to drive towards resolutions.
• Possess a basic working knowledge of the commercial real estate industry, including finance.
• The successful candidate must be capable of analyzing real estate projects for financial feasibility as well as market driven factors.
• This person will be well versed in commercial real estate concepts such as NOI, Cap Rates, debt service coverage, etc.

Responsibilities

• Monitor construction process and work with Construction Services Group to ensure project is on-schedule and within budget for completion. As needed, work with Asset Management and Loan Portfolio Manager and Legal if a project is in violation of any legal documents.
• Analyze existing construction loans to determine whether or not the conditions for conversion to permanent, non-recourse financing have been met; including financial feasibility, physical and environmental condition, borrower financial status and regulatory requirements.
• Manage communications among a diverse mix of internal and external participants including finance, loan portfolio management, asset management, borrowers, equity investors, attorneys, title agents, etc.
• Review and understand legal documents to ensure transactions comply with the originally negotiated terms and conditions as well as internal and external (local laws and regulatory) policies.
• Review and analyze due diligence information used to underwrite and finalize deal files for delivery into internal and/or Government Agency systems (Risk Sharing Packages, Financial Calendar).
• Create and present comprehensive mortgage credit reviews on borrower and guarantor(s) for review and approval.
• Recommend and Reaffirm appropriate construction and permanent loans risk ratings.
• Utilize internal automated systems necessary to document underwriting processes.
• Negotiate structure, terms and conditions with borrowers in a constructive way, based on logic and underwriting issues, with the goal of securing transaction approval while appropriately managing risk to the company.
• Liaise between, but not limited to Legal, Operations, Underwriter, and Finance.
• Additional duties as assigned

Benefits

• Paid time off, plus paid holidays
• Currently in a hybrid work arrangement, but candidates must reside in Illinois at time of hire
• Medical/dental/vision/life insurance plans
• Short/long term disability
• Tuition reimbursement
• Flex spending
• 401K plan – immediate vesting
• IHDA employees may be eligible for federal loan forgiveness programs

What This Job Offers

• Job Type: Full-time
• Career Level: Entry Level