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Associate Development Officer

Glen Allen, VA, USA Req #125
Tuesday, October 8, 2019

We're looking for amazing people! Come join VHDA as a Rental Housing Associate Development Officer. This important role will assist development staff with commercial loan processing and underwriting from loan intake through loan closing.  

Responsibilities will include: 

          Loan Onboarding

  • Serves as primary point of contact for the customer, the development team and functional areas within VHDA for assigned loans and restructures.

  • Reviews assigned loan and restructure requests and identifies significant issues and consults with Lending Group Manager.

  • Evaluates assigned loan applications for completeness. Follows up with developers and mortgage brokers to obtain missing exhibits and other information, as needed.

  • Sets up assigned loans in a timely manner in the Prolink system and updates their status.

     

    Loan Underwriting

  • Gathers, analyzes and interprets a wide variety of data as part of the loan underwriting process that are not limited to:

  • The creation of reports from the borrower's submitted loan application and automated system Prolink.

  • The review of operating expense data submitted by our borrowers as compared to data collected from our extensive property operating numbers.

  • The successful review and completion of the Authority's Architectural & Engineering (A&E) review process.

  • The review of the borrower submitted appraisal report to insure adherence to the lending policy

     

    Loan Approval Process

  • Prepares the Closing Determinations for final closing on all construction/permanent loans.

  • Prepares initial and final, Good Money/Bad Money Forms, TEFRA Notices on all deals being financed with Tax Exempt bond proceeds.

  • Prepares and distributes Loan Committee Review Summary packages for discussion in Loan Review Committee.

  • Prepares and distributes final loan authorization documents.


    Qualified candidates must possess 1 to 3 years' real estate experience preferably in the multifamily or commercial area. Direct experience in commercial/multifamily loan underwriting with an emphasis on rent and operating expense analysis in determining loan size, preferred.  Basic understanding of
    real estate, finance, and general business acumen. Bachelor's degree, or equivalent experience in Real Estate, Business, Finance, Economics, Mathematics or Urban Planning. 

     

    Travel Required: 20%.  Must possess a current driver’s license in good standing and be able to travel, occasionally overnight.

     

    VHDA is one of the nation’s premier housing finance organizations. Our mission is to help Virginians attain quality, affordable housing, which we accomplish through our public-private partnerships.

     

    We are focused on employee engagement and committed to a healthy and diverse workforce. We offer educational opportunities to help your advancement through classroom and online programs. We offer on-site free parking.

     

    This position will be located at VHDA’s Glen Allen, VA office.

    Applications and resumes are accepted online only at: http://www.vhda.com/careers.


    This position will remain open until filled.
     
    Hiring Range: $68,567 - $89,138 

    Background and credit checks will be performed as a condition of employment.
                                                                                                                                        - EOE -



Other details

  • Pay Type Salary
  • Min Hiring Rate $68,568.00
  • Max Hiring Rate $89,138.00
  • Glen Allen, VA, USA