Senior Multifamily Underwriter

$131,949 - $131,949/Yr

Housing Opportunities Commission - Kensington, MD

Full-time - Mid Level

Kensington, MD

About the position

The Senior Multifamily Underwriter is a professional supervisory position at the Housing Opportunities Commission (HOC) of Montgomery County, responsible for the review and underwriting of multifamily real estate transactions presented for financing. This role is crucial in increasing the availability of housing for low- to moderate-income families through various financing and subsidy sources, while also generating revenue for the organization to support the growth of its multifamily bond portfolio. In this key position within the Mortgage Finance Division, the Senior Multifamily Underwriter focuses on the origination, processing, and closing of mixed-income and affordable multifamily real estate loan transactions. The employee will receive loan applications from both non-profit and for-profit organizations, including HOC's Real Estate Division, and will assist in structuring the multifamily financing. Responsibilities include preparatory activities for financial commitments and the issuance of taxable and/or tax-exempt bonds or other financing forms. Key responsibilities encompass proforma preparation and feasibility assessment, reviewing development proposals, third-party reports, and borrower documents, developing written Financing Plans, and presenting these plans to the Commission. Additionally, the role involves bond and loan closing management and execution, ensuring compliance with HOC's Multifamily Program Guide and the Commission's lending practices. The Senior Multifamily Underwriter must also possess a strong understanding of procurement rules, particularly HOC's Procurement Policy, as it relates to the services required for executing the responsibilities of this position.

Responsibilities

• Review and underwrite multifamily real estate transactions for financing.
• Increase the availability of housing for low- to moderate-income families using various financing sources.
• Generate revenue for the organization to support the growth of the multifamily bond portfolio.
• Receive loan applications from non-profit and for-profit organizations and assist in structuring multifamily financing.
• Prepare proforma and conduct feasibility assessments for loan applications.
• Review development proposals, third-party reports, and borrower documents.
• Develop written Financing Plans and present them to the Commission.
• Manage and execute bond and loan closings.
• Apply knowledge of HOC's Multifamily Program Guide and the Commission's lending practices to loan applications.
• Exercise sound judgment in managing and scheduling workload.
• Assist in overall development process management, including client and public official interactions.

Requirements

• At least five years of increasingly responsible experience in real estate finance, development, and investment.
• At least two years of data management and reporting experience, including supervisory experience.
• Experience with transactions involving affordable and market rate housing and mixed-use development.
• Bachelor's degree in a related area is required.
• High level computer skills (HMIS, Excel, Yardi a plus) with the ability to interpret and manipulate data.
• Extensive knowledge and experience with processing and closing multifamily financing transactions, including HUD/FHA multifamily mortgage insurance and Federal Low Income Housing Tax Credits (LIHTC).
• Previous experience working with a Housing Finance Agency and/or Public Housing Authority is preferred.
• Superior financial and analytical skills are necessary.
• Ability to manage multiple tasks and meet deadlines.
• Strong written and verbal communication skills are required.
• Ability to make presentations to varied audiences.

Nice-to-haves

• Experience with affordable housing programs and financing.
• Knowledge of state and county housing programs.
• Familiarity with procurement rules and policies.

Benefits

• Salary range: $77,754 - $131,949, determined by departmental budget and commensurate with experience.
• Equal opportunity employer committed to diversity and inclusion in the workplace.
• Drug-free workplace policy with pre-employment drug and alcohol screening.