Vice President, Originations

National Equity Fund•Columbus, OH

About The Position

National Equity Fund, Inc. (NEF), a leading non-profit syndicator of low-income housing tax credits (LIHTC), is seeking a Vice President, Originations to lead new business initiatives in a designated region. The role originates, structures, and negotiates LIHTC investments and represents NEF in the region. The successful candidate structures transactions to meet investor expectations, support long-term project viability, and advance NEF’s mission, working independently and collaboratively across departments. Candidates should be located in Ohio, Indiana, Michigan, or Tennessee. The position leads NEF’s regional marketing and origination efforts, develops relationships with affordable-housing developers, funders, and state allocating agencies, and manages projects through the investment process. It calls for knowledge of real estate underwriting, tax and Section 42 requirements, state tax credits, Historic Tax Credits, energy credits, rental subsidies, vouchers, and related tax issues. The Vice President also coordinates with internal teams and LISC stakeholders, maintains the project pipeline database, and mentors the originations analyst.

Requirements

Undergraduate or graduate degree in business, economics, urban planning, or finance.
7–10 years of experience in underwriting and structuring real estate projects.
Prior experience with affordable-housing loans or investments and knowledge of state and local programs.
Strong background in structuring complex real estate transactions and working with nonprofit developers.
Experience underwriting LIHTC transactions and growing business relationships.
Ability to work independently and effectively on numerous projects simultaneously.
Strong analytical skills and proficiency in Microsoft Office, including Excel and Word, and other relevant applications.
Strong written and verbal communication skills, including the ability to explain complex financing structures to developers, stakeholders, funders, and other audiences.
Ability to work collaboratively across departments and manage relationships with regional stakeholders.

Responsibilities

Develop and execute a market business plan with the Regional Managing Director, including an optimal marketing strategy.
Lead NEF’s marketing efforts and represent NEF in the designated region, including at relevant housing conferences, meetings, and forums.
Establish and maintain professional relationships with nonprofit and for-profit affordable-housing developers, funders, and state allocating agencies.
Lead the origination process for affordable-housing projects seeking NEF equity investments.
Identify complex LIHTC and credit issues and review business terms with sponsors to help develop viable, sustainable affordable-housing properties.
Structure LIHTC transactions according to NEF underwriting guidelines and pricing parameters, and work through credit issues with the Regional Managing Director.
Analyze project income structures, operating expenses, debt-service requirements, market studies, and developers’ financial and development capacity.
Coordinate with the VP Regional Manager on investor targeting and interest.
Develop and maintain fluency with NEF’s investment pro forma and underwriting model, including investment fund parameters and requirements.
Coordinate with asset management staff to manage and resolve issues with projects in the designated geography.
Maintain NEF’s proprietary database of projects in the individual pipeline.
Provide information to the Regional Managing Director and colleagues to support requests from other departments, including fund management, accounting, and investor relations.
Manage and leverage LISC stakeholder relationships in the designated region, including participating in LISC meetings or providing training for LISC staff or supported community development organizations.
Mentor and guide the originations analyst, transferring knowledge and best practices to support professional development and growth.
Perform other duties and special projects as assigned by the VP Managing Director.