Multifamily Loan Officer

Primary Purpose of Position: Financial underwriting and production of affordable multifamily rental housing through MaineHousing programs.

Education and Experience: Education, experience, and training, in any combination, relating to real estate development, lending, financial analysis, budgeting, or accounting.

Certifications and Licenses: Must have previously completed or be willing to complete within two years (at MaineHousing’s expense), the Rental Housing Development Finance Professional Certification Program™ with the National Development Council.

Core Functions:

· Multifamily and Supporting Housing real estate underwriting

o Determine project feasibility and ensure compliance with programmatic requirements

o Evaluate appropriateness of funding sources and uses

o Evaluate risk of operating budgets, rent structure, and income

o Create, review, and update complex project development pro formas

o Assign financial resources based upon project requirements and program restraints

o Have understanding of non-MaineHousing financing sources

o Determine owner entity, principals, and affiliates’ eligibility and ability to effectively manage, finance, and operate projects by ordering and analyzing organizational documents, credit reports, financial statements, and other documentation

· Member of the development underwriting team

· Provide education and technical expertise to external partners

· Order and review third party reports such as market studies, appraisals, Phase I ESAs, and capital needs assessments as needed

· Determine compliance with state and federal regulations and requirements

· Prepare and present complex project summaries and recommendations

· Participate in program design, review, and continuous improvement activities

· Assist with scoring of applications for competitive funding rounds

· Other duties as assigned

Skills and Knowledge:

· Strong project management, time management, and organizational skills

· Strong PC skills using various software – MSOffice Suite (especially Word and Excel), ShareFile/SharePoint, Windows, internet browsers

· Strong financial analysis skills

· Ability to establish and maintain good working relationships with business partners

· Excellent communication skills – speaking, writing, and listening via phone, email, and in-person meetings

· Ability to communicate effectively in front of groups

· Ability to take initiative, work independently, and use creativity and analytical skills to resolve complex issues among multiple parties

· Knowledge of tax credits preferred (specifically the Low-Income Housing Tax Credit (LIHTC) program)

· Familiarity with HUD (HTF, HOME, CMF), USDA (Rural Development), and Federal Home Loan Bank (AHP) housing programs preferred

Working Conditions: Fast paced environment with multiple priorities, interruptions & deadlines. MaineHousing business hours are Monday – Friday from 8:00am to 5:00pm. Telework may be available.

Reports To: Multifamily Underwriting Manager

Supervises: no one

The starting hourly rate for this position is $32.2908 ($67,165 annually), plus a comprehensive benefits package!

**Position may remain open until a suitable candidate is found**

This position description is not a complete list of duties or responsibilities of this role, nor is it an employment contract. This is an “at-will” position.

Date last revised: February 2024

Job Type: Full-time

Pay: From $67,165.00 per year

Benefits:

• Dental insurance
• Employee assistance program
• Flexible spending account
• Health insurance
• Health savings account
• Life insurance
• Paid time off
• Retirement plan
• Vision insurance
• Wellness program

Schedule:

• 8 hour shift
• Monday to Friday

Work setting:

• In-person

Ability to Commute:

• Augusta, ME 04330 (Required)

Work Location: In person

Salary : $67,165