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Program Associate - Community Investments Initiative
Masshousing - Boston, MA
posted 2 months ago
About the position
The Program Associate for Community Investment Initiatives at MassHousing plays a crucial role in supporting the review and underwriting of affordable housing proposals. This position focuses on expanding access to affordable housing while promoting racial and economic equity through various programs, including the flagship CommonWealth Builder (CWB) Program. The associate will assist Program Managers in financial analysis, documentation, and communication with borrowers, contributing to the agency's mission of improving housing opportunities in the Commonwealth.
Responsibilities
- Assist Program Managers in reviewing and underwriting affordable housing production and preservation proposals.
- Conduct financial analysis and propose alternative financing scenarios as necessary.
- Draft important documents including letters of interest, term sheets, and commitment letters.
- Serve as a liaison to external and internal business partners, analyzing data and mortgage information from property owners and third-party sources.
- Communicate with potential borrowers to gather necessary information and support Program Managers in loan reviews.
- Administer the underwriting model for accurate analysis and loan structuring.
- Maintain positive rapport with borrowers and stakeholders, ensuring effective communication regarding loan evaluations and approvals.
- Perform special assignments including research on industry metrics and creation of analytical tools.
Requirements
- Bachelor's Degree in Finance, Real Estate Management, Business Administration, or related field required.
- 2+ years of substantive experience in finance or real estate.
- Knowledge of basic financial and financial analysis principles.
- Strong work ethic with the ability to work independently and as part of a team.
- Excellent organizational and analytical skills with attention to detail.
- Proficiency in Microsoft Office Suite, especially Excel for complex spreadsheet tracking.
Nice-to-haves
- Demonstrated history of academic success and professional development.
Benefits
- Tuition reimbursement up to $10,000 per calendar year
- 35-hour work week and hybrid work schedule
- Back up Child/Elder Care
- Retirement Savings including a pension and a deferred compensation plan (with a match)
- Comprehensive health, dental and vision plans
- 12 paid Holidays per year and generous sick, vacation, and personal time
- Short-Term and Long-Term Disability
- Central Boston office location, convenient to public transportation and amenities on site
