The hired candidate will analyze, process and manage a variety of consent requests, complete underwriting analysis, and work with legal counsel as appropriate. In addition, the Asset Management Senior will exercise delegated approval authority for certain credit decisions on regular requests and recommend to management for circumstances that exceed their respective levels of authority.
Your work will primarily fall into the following categories:
- Assess project and partnership risk factors as they pertain to compliance with Section 42 (LIHTC) provisions, terms of partnership agreement, loan documents, LURAs, QAPs, and tax credit application.
- Manage the disbursement of equity for the assigned portfolio.
- Communicate issues that may place a project at risk to appropriate leadership in Asset Management and develop an action plan that will help mitigate the risk and protect the investment.
- Assist with the disposition of assets at the end of the affordable housing tax credit period or other dissolution event.
- Maintain a detailed and up-to-date record of property activity and document management in the database.
- Analyze, process, and manage complex transactions, complete underwriting analysis on borrower requests such as: loan assumptions, collateral substitutions, easements and other industry standard performing loan requests.
- LIHTC experience is a must.
- Typically has 5+years of relative experience in commercial real estate finance and asset management.
- Bachelor’s degree in Finance or Business Administration or an equivalent combination of education and experience from which comparable knowledge and skills may be acquired.
- Ability to efficiently manage large volumes of requests and be a flexible team player
- Proficiency with Microsoft Office products specifically Excel and Word
- Proven ability to work accurately on projects with specific and measurable due dates and goals.
Keys to Success in this Role:
- Interest in developing a skill set within asset management focusing a variety of complex financing structures or unstabilized assets.
- Exposure to a national multifamily real estate portfolio
- Strong verbal and written communication skills
- Ability to prioritize and be self-directed
- Excellent customer service skills
- Strong interpersonal skills
- Attention to detail
- Ability to understand complex legal documents
- Experience with financial analysis and valuation
- Prior experience as a LIHTC Asset Manager is highly preferred