FT job - San Jose? - Lenders for Community Development - Affordable Housing Loan Program Director
----- Forwarded by Asha Agrawal/SJSU on 05/20/2008 09:28 AM -----
Affordable Housing Loan Program Director position information
Lenders for Community Development is currently seeking a highly qualified Program Director to lead its successful Affordable Housing Loan Program. . Reporting directly to the Vice President of Programs, this position has primary responsibility for managing LCD’s loan programs focused on affordable housing and community facilities, including marketing, underwriting, loan administration, and strategy and general management. The Program Director will manage a staff of 2 (Underwriting Consultant and Loan Administrator), as well as cultivate and manage relationships with a wide variety of external stakeholders (affordable housing developers, other non-profit borrowers, banks, government agencies, and foundations). This position is an excellent opportunity for a bright and motivated individual looking to join an entrepreneurial and high-performing team in a fun and flexible work environment. “
If you or anyone in your network is interested in finding out more about this opportunity, please contact Erin Reedy from Commongood Careers at ereedy@....
AFFORDABLE HOUSING LOAN PROGRAM DIRECTOR
Organizational Overview: Lenders for Community Development (LCD) is a non-profit financial institution that helps people who are working to build financial, personal and shared assets in low-income communities. We provide financial products, services and training which our customers use to transform their own lives and to better their communities. With a staff of 25+ people and an annual operating budget of almost $4 million, LCD has award winning programs that have a 15 year track record of helping thousands of clients and directing over $100 million into low-income communities throughout the San Francisco Bay Area.
LCD’s Affordable Housing Loan Program manages over $35 million in funds for multi-family housing, homeownership projects, homeless and transitional housing, and other community facilities, like child care centers and social service agencies. LCD partners with banks, the Sobrato Family Foundation, and the Housing Trust of Santa Clara County to provide capital on affordable housing and community facilities projects that help build community assets. LCD primarily provides early stage financing and flexible subordinated gap financing – including predevelopment, land acquisition and construction gap loans – when conventional lenders cannot provide necessary financing. LCD’s Affordable Housing Loan Program team consists of: Program Director, Underwriting Consultant, and Loan Administrator.
Position Summary: Lenders for Community Development is currently seeking a highly qualified Program Director to lead its successful Affordable Housing Loan Program. Reporting directly to the Vice President of Programs, this position has primary responsibility for managing LCD’s loan programs focused on affordable housing and community facilities, including marketing, underwriting, loan administration, and strategy and general management. The Program Director will manage a staff of 2 (Underwriting Consultant and Loan Administrator), as well as cultivate and manage relationships with a wide variety of external stakeholders (affordable housing developers, other non-profit borrowers, banks, government agencies, and foundations). This position is an excellent opportunity for a bright and motivated individual looking to join an entrepreneurial and high-performing team in a fun and flexible work environment.
Strategy & General Management: Set goals and execute strategies for deployment of $35 million in available capital to finance affordable housing and community facilities:
♦ Manage all program activities to achieve program goals – including primary responsibility for marketing and staff management
♦ Manage all program-related external relationships – including with borrowers, loan capital providers, loan committee members, and bank loan servicing providers
♦ Enhance and grow AH Loan Program by designing new products or improving existing ones work in collaboration with Executive Director and work with the Chief Financial Officer to seek new sources of flexible capital
♦ Provide support to Development Department in interacting with program funders
Marketing: Understand and execute marketing strategy to best respond to potential borrower needs:
♦ Cultivate existing relationships with current and former LCD borrowers to make sure products meet ongoing financing needs
♦ Market loan programs to potential new borrowers
♦ Continually understand changing financing needs of affordable housing developers that can inform product development process
Underwriting: Oversee underwriting for 5 loan pools and 12-20 transactions per year:
♦ Work with Underwriting Consultant and borrowers to prepare credit analysis on new loan requests
♦ Underwrite predevelopment, land acquisition and construction gap loans as needed
♦ Manage relationship with Affordable Housing loan committee, including providing continuous education about LCD programs and maintaining membership
Loan Administration & Reporting: Oversee loan administration and reporting for 5 loan pools and outstanding portfolio of 40-50 loans:
♦ Supervise Loan Administrator in handling of loan closings, portfolio management and reporting
♦ Manage relationships with loan servicing banks and external loan capital sources, including problem solving and identifying process improvements as needed
♦ Strengthen and maintain risk grading system and annual portfolio review
♦ Work with Finance team to ensure smooth shared responsibility for reporting and compliance to bank pool participants, government agencies and other stakeholders
Qualifications: The ideal candidate possesses the following qualities:
♦ Three or more years of relevant real estate experience, including affordable housing or other real estate development, real estate lending experience, etc., with strong knowledge of the various public and private sources of financing available to developers of affordable housing and community facilities
♦ Commitment to affordable housing, community-based economic development and wealth creation for low income communities, with knowledge of community development financial institutions
♦ Ability to take full responsibility for developing and implementing an annual department plan and proven track record in a supervisory role
♦ Ability to prioritize and work under pressure to meet short deadlines
♦ Self-starter, with flexibility and a willingness to learn
♦ Superior communication skills and excellent interpersonal skills
♦ Ability to travel locally to meet with customers, attend industry conferences or trainings and ensure that LCD is represented at appropriate events
♦ Bachelor’s degree or equivalent experience required
To Apply: Please email your resume with a thoughtful cover letter, stating how your background and qualifications meet the requirements of this position and how you heard about the position, both in Word format, to Anthony Chang at lcd@..., with subject line “Affordable Housing Loan Program Director.”
To learn more about Lenders for Community Development, please visit www.l4cd.com.
LCD’s principal offices are in San Jose, with a satellite office in San Francisco.
Salaries are commensurate with experience and include an attractive benefits package.
LCD is an equal opportunity employer.
About Commongood Careers: Lenders for Community Development has partnered with Commongood Careers to conduct the search for an Affordable Housing Loan Program Director. Commongood Careers (www.cgcareers.org/) is a nonprofit search service that connects talented individuals to organizations that are dedicated to creating positive social change. Founded and staffed by nonprofit professionals, Commongood Careers offers personalized, engaged services to jobseekers and organizations throughout the hiring process, as well as access to a wealth of knowledge about nonprofit careers.