Multifamily Housing Lender (299 views)

Seattle, WA
September 19, 2018 2018-11-18
Job Description

Seattle’s Office of Housing works to build strong, healthy communities and increase opportunities for people of all income levels to live in our city.
 
We are looking for a Multifamily Housing Lender to help the City decide which projects should or should not be funded. With oversight, you will review and evaluate multifamily and bridge loan applications for policy and regulatory compliance, underwrite projects’ financial feasibility, and determine the viability of proposed operating and service budgets. You will also prepare credit materials for the Director, present funding recommendations, and assist with workouts of troubled projects with Asset Management. In addition, you will monitor City-funded projects, from pre-development, through development and construction, and closing out of completed projects.
 
You will report to the Office of Housing’s Lending Manager and be part of a highly skilled, collaborative team.  With an emphasis on strong project analysis, regulatory compliance, and clear communication, our team seeks to ensure City resources are deployed effectively, maximizing our capacity to help Seattle’s low-income residents access safe and affordable homes. 

Job Responsibilities

Here’s more about what you’ll be doing, with oversight:
You will assist in all aspects of the financing process for affordable housing projects, including:

  • Monitoring pre-development from fund reservation through closing
    • Coordinating pre-closing fund source conditions, such as an environmental review with the Department of Human Services
  • Preparing and negotiating legal loan documents for real estate closing
    • Coordinating with the borrower, counsel, Title Company, and other funders to ensure timely closings and proper City lien position
  • Overseeing the development and construction phases of City-funded projects
    • Reviewing and approving borrowers’ requests for disbursement of City loan funds
    • Coordinating disbursements with other funders and project investors
  • Monitoring close-out of completed projects, assuring that all necessary documentation and compliance materials have been received prior to final disbursement
    • Passing down completed projects to Asset Management
    • Assisting in compliance with labor standards (Prevailing wages and Davis Bacon) in coordination with the Department of Finance and Administration

 
You will participate in a range of team efforts, including:

  • Identifying appropriate ways to integrate Office of Housing funding with service and operating funds, including coordinating with other local, state, and federal funders
  • Helping to further develop policies, procedures, and underwriting criteria
  • Providing technical assistance to prospective borrowers and coworkers

 
You will be successful in this role if you possess the below abilities, experience, and knowledge:
Abilities:

  • Maintaining professionalism in controversial, complex, and public situations
  • Explaining technical information to an audience of varying levels of expertise
  • Conducting meetings and speaking publicly
  • Working with a diverse population
  • Writing in a clear and effective manner

 
Experience:

  • Affordable housing finance involving public and private sources
  • Community development
  • Development of affordable housing for homeless or special needs residents
  • Real estate development lending, including bridge and permanent loans
  • Working at the local government level with a variety of constituents and in community participation

 
Knowledge

  • Multifamily subsidy sources, including low-income tax credits, state housing fund, Community Development Block Grant, and HOME
  • Housing construction, rehabilitation, land use, and building codes

Qualifications

In addition to the qualities mentioned above, you will need to possess the below required qualifications (or a combination of education and/or experience and/or training which provides an equivalent background required to perform the work of the class):

  • Two years of progressively responsible experience in affordable housing finance, community redevelopment, real estate finance, or a related field
  • Bachelor’s Degree in business or public administration, urban planning, finance, real estate, human services, or a related field
  • Washington State Driver’s License or evidence of equivalent mobility

 
OR

  • Three years of progressively responsible experience in affordable housing finance, community redevelopment, real estate finance, or a related field
  • Associate Degree in business or public administration, urban planning, finance, real estate, human services, or a related field
  • Washington State Driver’s License or evidence of equivalent mobility

 
OR

  • Four years of progressively responsible experience in affordable housing finance, community redevelopment, real estate finance, or a related field
  • Washington State Driver’s License or evidence of equivalent mobility

Additional Information

This position is classified as a Community Development Specialist.
 
APPLICATION PROCESS:
To be considered for this position, you must submit your complete application resume and cover letter at https://www.governmentjobs.com/careers/seattle no later than 4:00 PM Pacific Time on Tuesday, October 16, 2018.
 
This position is open to all candidates that meet the minimum qualifications. The Office of Housing values diverse perspectives and life experiences. Applicants will be considered regardless of race, color, creed, national origin, ancestry, sex, marital status, disability, religious or political affiliation, age, sexual orientation, medical condition, or pregnancy. The Office of Housing encourages people of all backgrounds to apply, including people of color, immigrants, refugees, women, LGBTQ, people with disabilities, veterans, and those with diverse life experiences. If you have questions, please contact Lindsey King at [email protected].