Portfolio Manager, Closing and Disbursement

Housing Assistance Council Inc•Washington, DC

3d•Remote

About The Position

Founded in 1971, the Housing Assistance Council (HAC) is a national nonprofit and a certified community development financial institution (CDFI) that strengthens communities across rural America through investment and assistance with affordable housing and community and economic development initiatives. Based in Washington, DC, HAC is actively involved in shaping federal policy and the affordable housing industry with its research, lending and conferences. We also deliver technical assistance, training and affordable loans at the local level to organizations that help rural communities prosper. 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. The Portfolio Manager, Closing and Disbursement is responsible for all aspects of loan closing and loan disbursements for an assigned portfolio of loans made to entities engaged in affordable housing activities in rural communities throughout the United States. The Portfolio Manager, Closing and Disbursement works as part of a remote team working to develop lending opportunities and underwrite and close loans.

Requirements

3+ years of experience in loan closings, preferably in relation to affordable housing, real estate, or bank or CDFI loans
Knowledge of the affordable housing development and construction process
Ability to work independently with minimal supervision
Ability to manage multiple projects and deadlines simultaneously; must be able to prioritize duties, follow through and meet deadlines
Advanced Excel, Outlook, Adobe, and Word knowledge needed
Excellent verbal and written communication skills
Strong organization and time-management skills
Commitment to customer service
Critical thinking skills
Detail orientation

Nice To Haves

Undergraduate degree in real estate, finance or related field preferred

Responsibilities

Analyze internal loan approvals to determine required due diligence and documentation for each loan transaction.
Prepare and review loan closing documents (e.g., loan agreement, promissory note, deed of trust) and disbursement packages.
Collect and review due diligence materials submitted for closing and disbursements.
Work with title agent to prepare title insurance policy, binders, and title commitments, and review real estate settlement statements for accuracy.
Review property title records.
Provide instructions to closing agents/attorneys, borrowers, and third-party entities.
Ensure all settlement figures are correct, and work with the post-closing agent to ensure the transaction is recorded and any outstanding issues are resolved prior to closing.
Examination of construction loan disbursement documentation and compare with budget.
Track cumulative disbursements to ensure the total disbursements are less than or equal to the approved loan amount.
Accurately and timely, enter loans and transactions into HAC’s loan administration system (Nortridge Loan Software).
Organize and maintain borrower organizational documents, loan documents, and due diligence documents.
Perform regular quality control checks of all assigned loan files to ensure completeness and compliance prior to, during, and after the closing and funding of the loan.
Maintain a positive and professional relationship with borrowers and partners (e.g., third- party lenders, attorneys and other external parties) by responding promptly to any and all requests in a responsive, consistent, accurate manner.
Understand, comply with, create and recommend updates to the policies and procedures related to the portfolio management and lending functions.
Communicate orally and make presentations to HAC’s Loan Committee and/or Board of Directors related to closing and disbursement activities.
From time to time, work on miscellaneous projects and initiatives related to either the lending functions or across the organization as needed.