Jobs at Housing Assistance Council (Now Hiring) — 2 open

Loan Officer 

ABOUT THE ORGANIZATION

 

Founded in 1971, the Housing Assistance Council (HAC) is a national nonprofit and a certified community development financial institution dedicated to helping local rural organizations build affordable homes by providing below-market financing, technical assistance, training, research, and information services. HAC’s mission is to improve housing conditions for the rural poor, with an emphasis on the poorest of the poor in the most rural places, particularly regions and populations with high needs: Native American communities, the Mississippi Delta, farmworkers, the southwest border colonias, and Appalachia.

 

HAC’s loan fund provides capital for development and preservation of affordable housing in rural communities, in service to HAC’s mission. HAC lends to both for-profit and non-profit developers for acquisition of land and buildings, predevelopment expenses, construction and some permanent financing for operating rental properties. 

 

HAC is seeking a candidate who is highly organized and highly productive, who is able to work independently (but within the context of a team) and who can maintain high-quality standards, despite the fast-paced and high volume of work performed. 

 

At HAC, we celebrate the rich diversity of rural America and proudly maintain a diverse staff and Board of Directors. We are an equal opportunity workplace whose decades of success come from being open, inclusive, and connected to each other. HAC’s hiring and employment practices treat everyone fairly and equally regardless of race, color, ethnicity, gender, national origin, age, religion, sexual orientation, disability, marital or familial status, ancestry, or status as a veteran. Black, Indigenous and people of color are strongly encouraged to apply. 

HAC’s loan fund provides capital for development and preservation of affordable housing in rural communities, in service to HAC’s mission. HAC lends to both for-profit and non-profit developers for acquisition of land and buildings, predevelopment expenses, construction and some permanent financing for operating rental properties. 

 

HAC is seeking a candidate who is highly organized and highly productive, who is able to work independently (but within the context of a team) and who can maintain high-quality standards, despite the fast-paced and high volume of work performed. 

 

At HAC, we celebrate the rich diversity of rural America and proudly maintain a diverse staff and Board of Directors. We are an equal opportunity workplace whose decades of success come from being open, inclusive, and connected to each other. HAC’s hiring and employment practices treat everyone fairly and equally regardless of race, color, ethnicity, gender, national origin, age, religion, sexual orientation, disability, marital or familial status, ancestry, or status as a veteran. Black, Indigenous and people of color are strongly encouraged to apply. 

 

 POSITION SUMMARY

The Loan Officer represents HAC on its affordable housing lending activities. This work will include marketing, originating, and underwriting new loan transactions in the Loan Fund Division. The Loan Officer makes recommendations for approval of loans and presents the recommendations both in writing and orally. The Loan Officer works closely with Portfolio Managers and Asset Managers who close and service loans. 

The position comes with a competitive salary, generous benefits, and the opportunity to work in a fun and mission-focused environment. The position can be either remote or based in HAC’s Washington, DC headquarters. 

PRIMARY RESPONSIBILITIES 

• Structure loan transactions in compliance with internal credit and program requirements. 
• Contribute to loan production goals by identifying lending opportunities and originating new loans particularly for affordable housing development and preservation.
• Prepare and negotiate loan proposals with borrowers and partners (term sheets and commitment letters). 
• Underwrite and review loan applications, prepare and present loan recommendations and loan modification requests for Chief Executive Officer and Loan Committee review. With review from Senior Loan Officer, recommend loans for approval with suggested risk ratings based on HAC’s risk rating procedures. 
• Manage the loan approval process from deal screening, through due diligence, to loan approval. 
• Assist in the loan closing process by working with the closing team. Assist in the loan closing process by working with the closing team. 
• Evaluate, underwrite and process loan modifications as needed.  
• Attend industry trade conferences and make presentations; and foster and maintain key strategic relationships. 
• Assist with the HAC loan fund marketing. 
• Provide excellent customer service to borrowers and potential borrowers. 
• Work with partners on loan participations. 
• Conduct site visits, as needed. 
• Participate in strategic planning and innovation process. 
• Keep abreast of industry standards, challenges, and changes influencing lending activities. 
• Formulate and execute strategies for problem loans and at-risk projects. 

Other Duties: 

• From time-to-time, Loan Officer will have an opportunity or be required to work on miscellaneous projects and initiatives related to either the lending functions or across the organization as needed. 
• Participate in HAC’s biannual Rural Affordable Housing Conference 

QUALIFICATIONS

Preferred

COMPENSATION AND BENEFITS

HAC offers competitive wages, benefits, and growth opportunities consistent with industry standards. Flexible benefits packages include health insurance; life and other insurance; financial benefits, to include a retirement plan with partial employer match; time off; and work/life benefits, to include education assistance. Salary range is $85,000 to $95,000 per year, depending on qualifications.

 

EQUAL OPPORTUNITY EMPLOYMENT INFORMATION

HAC is an equal opportunity provider and employer. HAC does not discriminate in against any applicant or employee based on race, color sex, national origin, age, disability, or any other basis protected by applicable federal, state, or local laws.