Senior Housing Development Lender
Nm Finance Authority
Santa Fe, NM
Full-time
Banking
Posted on January 26, 2025
Senior Housing Development Lender
The New Mexico Finance Authority (NMFA) in Santa Fe is seeking a qualified individual for the Senior Housing Development Lender position that will report to the Managing Director of Lending. The position will underwrite workforce housing development projects including moderate-income multi-family housing development projects and moderate-income single-family housing development projects for eligibility, present projects for approval, and coordinate the processes leading toward loan closing.
This position will lead in structuring and underwriting loans for housing development projects recommended by the Opportunity Enterprise and Housing Development Review Board ("OE Board"). Assist the OE Board and NMFA Board in the policies governing the selection, structuring and underwriting of workforce housing projects. Present facts and offer opinions/recommendations to the NMFA Credit Committee concerning the prospects for creditworthiness. Evaluate and underwrite construction and permanent loan applications for housing development and related infrastructure projects by assessing such areas as current rental housing market conditions, project development team, rental income and operating expense, operational projections, and project development budget. Structure the potential loan according to industry standards and/or program requirements, as appropriate. Present potential loans for approval to the NMFA Credit Committee, Economic Development Committee, and Board, when appropriate. Communicate with borrowers, other project lenders, and others regarding loan status and assist with the information flow from production to underwriting, loan approval, and funding/post-disbursements. Be a resource for borrowers, lending partners, and other industry professionals internally on workforce housing development matters through workshops, conferences, meetings, and one-on-one contacts.
NMFA is New Mexico’s partner in building economic prosperity and stronger communities. The ideal candidate will have a bachelor’s degree in real estate finance, finance, or business and a minimum of six years of experience as a loan underwriter specializing in affordable and workforce housing development. Experience with tax-exempt bonds, federal and state tax credits, Federal Housing Administration (FHA) programs such as 542 (c) Risk Sharing Insurance, Fannie Mae, Freddie MAC, and other state and federal financing tools preferred. Strong knowledge of real estate principles and generally accepted accounting practices, principles, procedures, and regulations/laws related to governmental affordable and workforce housing programs, including for-sale and rental housing, is required.
Interested candidates may submit a cover letter and resume to the attention of the HR Director
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