Underwriter, Conversions
il y a 20 jours
New York
Job Description Possible Hybrid Workplace Opportunity New York State Homes and Community Renewal (HCR) is the State’s affordable housing agency, with a mission to build, preserve, and protect affordable housing and increase homeownership throughout New York State. A Civil Service exam is not required for this position. Candidates must meet the minimum qualifications outlined below to be considered. NYS Homes and Community Renewal (HCR) is committed to fostering a culture of diversity, equity, inclusion, and accessibility. Our work would not be possible without the diverse backgrounds, experiences, ideas, and abilities of our employees. HCR is committed to developing a workforce that represents the diverse population of New York State. HCR embraces a diverse and inclusive work environment by encouraging all individuals, including those with disabilities, to apply to open positions at the agency. The Office of Multifamily Finance & Development actively engages with a range of partners including for-profit, and not for profit borrowers, municipalities, lenders, investors, and other funding entities to leverage tax credits, tax exempt bonds, and a multitude of State funded programs. Our resources have helped finance tens of thousands of affordable apartments and affordable homes since 2011. Finance & Development has primary responsibility for implementing many of the initiatives under the Governor’s Housing Plan, an unprecedented $25 billion investment over five years. The loan conversions team plays a critical role in facilitating the process of the many thousands of units funded by HCR that are under construction at any given time. DUTIES The candidate will be responsible for the following activities: • Assist the AVP in daily management of the unit’s workflow and in identifying underwriting and conversion issues to be addressed as part of an on-going training program for the unit., • Work on permanent mortgage loan closings and bond redemptions. This involves communication with project sponsors regarding the Agency’s requirements and timing., • Review various due diligence documentation and confirm project meets income to expense ratio, as applicable., • Analyze final sources & uses to determine if it meets the Agency’s policies., • Coordinate with various internal departments for their final signoffs prior to closing. Facilitate conference calls with internal (attorneys) and external parties (sponsors, attorneys, credit enhancers, syndicators)., • Assist with processing of monthly construction requisitions for Agency bond and subsidy funds. This involves coordination among internal (Treasury, Accounting and Construction) and external parties (credit enhancer/servicer and borrower). It may also involve review and approval of requisitions., • Monitor the progress of projects currently under construction. Work with credit enhancers and borrowers regarding letter of credit extensions and any other issues that may arise., • Trouble shoot and problem solve as the need arises., • Evaluate project feasibility of proposed projects by performing financial review, • Underwrite and originate mortgages for affordable multifamily housing that utilize tax credits, and other State and municipal funding sources., • Prepare written materials to secure internal project approvals for Credit Committee and Board., • Act as Agency liaison to developers, financial institutions , syndicators, other project partners, and governmental agencies to resolve problems and move projects forward in a timely fashion., • Support AVP in structuring work out plans for projects facing challenges to convert to permanent financing. QUALIFICATIONS • Bachelor’s Degree in Finance or affordable housing with five years’ experience preferred, • Knowledge of basic underwriting and/or other quantitative analysis, • Experience with government assisted housing finance, • Familiarity with construction financing and disbursement requirements, • Demonstrated capacity for collaboration, performing multiple tasks, analyzing complex processes, and using independent judgment, • Quantitative skills including expertise in Excel, • Good oral and written communication skills are needed to coordinate and work with a variety of people both internally and externally, • Excellent relationship management, analytical and negotiation skills, • Organizational skills, • Must be a team player, • The qualified individual should have a proactive approach and a solid work ethic. This job description is not intended to be all inclusive and the employee will be expected to perform other reasonably related duties as assigned. What we offer at NYSHCR: • Extensive benefits package including paid leave, including excellent health, dental, vision and retirement benefits with the New York State & Local Employees’ Retirement System., • Promotional opportunity for dedicated professionals, • Work life balance benefits including a 37.5 hour work week and paid time off benefits including, vacation, sick, personal days, and Federal Holidays, • Opportunity for compressed scheduling, • 12 weeks of Paid Parental Leave, • Paid Family Leave, • Opportunity for compressed/flextime scheduling, • Cash in for Wellness! This program provides you with the option of buying or renewing a health club membership of your choice or enrolling in a weight loss and or smoking cessation program, using your sick leave accruals., • Tuition reimbursement program – for job related and non-job related courses, • Vacation Leave Buy-Back program – Subject to approval, every year eligible employees may exchange previously earned and accrued vacation time in return for cash compensation (at employee’s daily rate of pay at time of exchange), • Access to Plum Benefits – savings on movie tickets, theme parks, hotels, tours, Broadway shows and more!, • Optical reimbursement program – Employees are eligible for optical, hearing aid, and podiatric expenses not otherwise covered by insurance, with a maximum aggregate amount of $675 per year, per family. Unused yearly balances may be carried over to the next year for a maximum of $1350 About New York State Homes and Community Renewal: Under the leadership of Governor Kathy Hochul and Commissioner RuthAnne Visnauskas, HCR is a vibrant, innovative agency that integrates and leverages New York State’s housing resources. We have offices in New York City, Albany, Buffalo and Syracuse, and employ a diverse workforce of professionals who are hard-working and committed to serving low and moderate income families. Our mission is far reaching, encompassing single and multifamily housing finance, home improvement, rent regulation, housing subsidies, and community development. We partner regularly with a variety of public and private stakeholders. Achieving this mission requires a wide range of skills and backgrounds in public policy, administration, real estate, construction. finance, law, and many other areas of expertise. We seek to provide a workplace environment that is productive, flexible, accountable, ethical, and caring. Our employees are empowered to make a difference where they live and work. We offer competitive pay and a comprehensive benefits package, including paid leave, health, dental, vision, retirement, and family-friendly policies.