Asset Manager

$100,000 - $130,000 yearly
  • The Paulsen Group
  • Hybrid (Glendale, CA, USA)
  • May 02, 2024
Full time Nonprofit Other

Job Description

California’s premier multifamily affordable housing lender. Responding to California’s ongoing affordable housing challenges has been its business for 32 years. Specialize in programs for families and seniors, citizens with special needs, veterans and housing for formerly homeless residents. Backed by major retail banks, insurance companies and pension plans, serves the entire state of California and has delivered in excess of $2 billion in financing, services and technical assistance that have made it the lender-of-choice of California’s affordable housing development community.

 

JOB SUMMARY

 

Responsible for the oversite and review of loans on behalf of investors. Reviews property data and analyzes performance of credit and prepares loan reviews. Maintains ongoing communication with borrowers on matters requiring lender consent.

 

PRINCIPAL RESPONSIBILITIES AND DUTIES

 

  • Ensures timely receipt and analysis of financial information on existing loans in portfolio.

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    Monitors borrower compliance with loan documents.

  • With assistance from Loan Servicing staff, ensures that loan servicing system contains accurate and up-to-date information relevant to monitoring property performance, including operating data, vacancy rates, reserve balances, rents, insurance, property taxes, property inspections, ownership and property management changes and more.

  • Coordinates property inspections with inspection firms and reviews and approves inspection reports.

  • Prepares and/or approves loan reviews in a timely manner, with the appropriate risk rating analysis and action plan where appropriate.

  • Interfaces with investors on borrower consent requests, reporting and investor information requests.

  • Manages and underwrites borrower consent requests for reserve distributions, ownership changes, property management changes and other matters.

  • Performs special projects and other duties related to the loan portfolio.

  • Monitors and adheres to various investor asset management/servicing contract guidelines.

  • Assesses housing market issues and risks in markets and submarkets where company lends.

  • Assists with loan sales by responding to information requests from loan purchasers and maintaining accurate loan and property information.

QUALIFICATIONS AND SKILLS

  • Five or more years’ experience in multifamily rental housing asset management, finance or development.

  • Comprehensive knowledge of multifamily housing underwriting, credit analysis and real estate documentation.

  • Broad knowledge of affordable housing program regulations and financing structures, including Low Income Housing Tax Credits; private activity bonds; federal, state and local housing finance programs, GSE guidelines and Section 8.

  • Ability to self-manage and creatively problem-solve.

  • Strong MS Excel skills.

  • Strong oral and written communication.

  • Strong financial statement analysis skills as well as ability to read and comprehend complex multifamily financing pro formas.

  • Ability to work with fellow staff and borrowers to ensure open and effective communication.

 

  • Excellent organizational skills, with attention to detail and accuracy.

  • Bachelor’s required.