Loan Officer at Housing Trust

Bring your real estate experience to the table! Housing Trust Silicon Valley is recruiting a Loan Officer to join their Multifamily Lending Team in San Jose, CA. This hybrid position will play a vital role in originating and managing loans to housing developers who are creating affordable homes throughout the Bay Area. In addition, they offer incredible benefits including fully covered medical insurance, 3 weeks of paid vacation, free parking on-site, and more! Housing Trust is looking for someone who is ready to make a difference and is passionate about their mission. Come join a collaborative team that is making a difference in the affordable housing industry. Apply today!

Another Source's client, Housing Trust Silicon Valley, is recruiting a Loan Officer to join their Multifamily Lending Team in San Jose, California. This position will play a vital role in originating and managing loans to housing developers who are creating affordable homes throughout the Bay Area - it is an exciting time to join the team at Housing Trust Silicon Valley!

This position is hybrid (typically on-site 3 days per week) and offers a very generous PTO plan. They are a 100% self-sufficient, non-profit that is committed to maintaining work / life balance.

About Housing Trust:

Housing Trust is looking for exceptional people who believe that safe, stable affordable housing opens the door to better living for everyone. Serving people experiencing homelessness to renters to first-time homebuyers, we assist a wide range of residents with programs across the entire spectrum of housing issues. Since 2000, Housing Trust has invested $446 million -creating over 24,000 affordable housing opportunities serving over 44,000 of our neighbors. Housing Trust has led the way in engaging local corporations and foundations in investing hundreds of millions of dollars to work with us to bring more solutions to the market all while experiencing several years of high growth in our lending business.

Read more about our competitive benefits package.

Learn more about the team

Read about what we do

About the role:

We believe that our employees are our greatest assets and our goal is to create a rewarding workplace where they can contribute in meaningful ways and are given a path for advancement and success. We offer competitive compensation and generous benefits.

Are you committed to making a positive impact on one of the most serious crises facing our region? Are you analytical, dedicated, and mission driven? Do you take pride in your work and thrive in a collaborative environment with people who also exhibit these qualities? If so, Housing Trust is the place for you. This is an ideal opportunity for someone who is interested in a role requiring extensive financial analysis, research, and writing. Someone who works independently and thrives in a fast-paced environment; enjoys working on a variety of projects; takes ownership of coordinating and delivering results including an impact on the bottom line; and is interested in learning about affordable housing and finance.

It is an exciting time to join the team at Housing Trust Silicon Valley - we are experiencing a lot of growth and with that comes a lot of opportunities for you to grow alongside us.

POSITION OVERVIEW:

The Loan Officer reports to the Director of Multifamily Lending and is responsible for a variety of tasks associated with supporting HT 's multifamily lending (MFL) team by originating and managing loans to housing developers who are creating affordable homes throughout the Bay Area; Helping implement the Housing Trust Loan Funds to create more homes to reduce homelessness, preserve and create multifamily housing; Fostering successful partnerships with cities, counties, banks, corporations, and community groups. Responsibilities include, but are not limited to the following:

Loan Underwriting (~60%)

• Marketing (~5%)
• Strategy and General Management(~15%)
• Loan Administration and Reporting (~15%)
• Process Improvement (~5%)

Loan Underwriting

Qualify and underwrite loans for affordable housing development including for predevelopment, acquisition, and construction purposes:

• Work with Director of Multifamily Lending and/or Senior Loan Officer to collect the essential information needed to process loan application submissions and underwrite loans requests.
• As directed by Senior Loan Officer and/or Director of Multifamily Lending, prepare analyses of project and borrower financial information, including analyzing operating statements and pro-forma budgets, and analyzing borrower financial statements for affordable housing loan applications.
• Develop loan proposal and present to loan committees.
• Conduct site visits as part of underwriting process.

• Order and review third party reports (appraisals, Phase I Environmental, etc.)

Marketing

• Cultivate existing relationships with current and former borrowers.
• Market loan programs to potential new borrowers including non-profit and for-profit developers of affordable housing.

• Assist in monitoring the changing financing needs of affordable housing developers to inform new product development.
• Assist with presentations and developing communications and materials for conferences, events, and company web site.
• Represent Housing Trust as part of the Lending Team at conferences, events, and other meetings

Strategy & General Management

• Contribute toward multifamily lending team achieving goals and execution of strategies for deployment of Housing Trust capital sources.
• Support the multifamily loan program by assisting in the design of new products or improving existing ones.
• Participate in the cultivation of external relationships with all levels of local government

Loan Administration & Reporting

• Serve as resource and provide support to Loan Administration to close loans as needed.
• Support smooth cross-functional responsibility for reporting and compliance to Housing Trust investors including bank pool participants, government agencies, and other stakeholders.
• Serve as resource and provide support to Asset Management team on existing portfolio as needed.
• Assist with initiatives to strengthen and maintain the risk grading system; attend and participate in quarterly portfolio reviews.

Qualifications:

• Bachelor's degree in business, finance, real estate, urban planning, or economics, and at least 4+ years' experience in affordable housing or real estate lending. Additional years of experience can substitute for a bachelor's degree.
• Working knowledge of financial tools and products, including familiarity with public and private funding sources for capital and operating needs related to affordable housing
• Exceptional relationship-building skills, with a desire to work in a highly external-facing role
• Experience in analyzing financials of nonprofit and for-profit organizations and real estate operations (in particular, rental housing).

• Working knowledge of due diligence items required to underwrite real estate transactions
• including but not limited to appraisals, environmental, and construction cost review reports.
• Experience working with both private sector financial institutions and public agencies.
• Working knowledge of federal, state, and local government funding sources for capital and operating needs of multi-family housing, affordable housing and/or permanent supportive housing, (e.g., LIHTC, HUD programs, etc.) desired.
• Excellent written and verbal communication skills are required.

• Proficient in Microsoft Office, file management software (Box), and CRM software (Salesforce)
• Ability to manage multiple tasks while exhibiting strong attention to detail and a high level of accuracy. Strategic thinker, able to envision and articulate creative approaches to address community development opportunities
• Strong time management and organizational skills and ability to manage multiple tasks requiring attention to detail; ability to meet ambitious goals while working with a high level of independence.
• Ability to work effectively in a team environment and collaborating across various levels of diversity including race, color, national origin, ancestry, sex, marital status, disability, religious or political affiliation, actual or perceived gender identity, age, or sexual orientation.
• Embrace a work culture that celebrates creativity and innovation. Operate with the highest degree of integrity

COMPENSATION

Housing Trust offers a competitive compensation package, including a bonus plan and benefits. This is an exempt, full-time position. Annual salary range for this position is $90,000 to $105,000.

Benefits Overview:

• Medical, Dental and Vision benefits fully covered for employees. Eligible dependents covered at 50%.
• 401K employer contribution at 3% and additional match up to 2%.

• 3 weeks of paid vacation
• Commuter Benefits including 100% paid parking
• 12 paid sick days
• Paid year-end shutdown
• End of year bonus

• Tuition reimbursement program and more...

Housing Trust is an equal opportunity employer to all regardless of race, color, national origin, ancestry, sex, marital status, disability, religious or political affiliation, actual or perceived gender identity, age or sexual orientation. Housing Trust is committed to diversity, equity and inclusion and our goal is to have a workforce (at all job levels) that is representative of the communities we serve.

Another Source works with their clients, on a retained project basis, to maximize the recruiting process.