Loan Officer, Rental Preservation

Company: Housing Assistance Council

Location: Washington, DC

Job Function: Lending/Loan Operations


The Housing Assistance Council (HAC) is a national nonprofit Community Development Financial Institution (CDFI) that strengthens communities across rural America through investment and assistance with affordable housing and community and economic development initiatives. Based in Washington, DC, HAC is actively involved in shaping federal policy and the affordable housing industry with its research, lending and conferences. We also deliver technical assistance, training and affordable loans at the local level to organizations that help rural communities prosper. 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.


The Loan Officer, Rental Preservation, represents HAC on its rental housing lending and preservation technical assistance 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 Loan Processors and Portfolio Managers who close and service loans. While intended to be primarily rental housing focused, the Loan Officer may work on other loans in HAC’s lending pipeline, including loans for homeownership development.

In addition to lending, the Loan Officer will provide hands on technical assistance to nonprofits that are seeking to acquire and preserve existing USDA financed (Section 515) rental developments. This work will involve assisting nonprofit organizations to assess capital needs, develop financing strategies, prepare USDA transfer applications, and shepherd the applications through the USDA transfer processes.

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.




  • Contribute to loan production goals by identifying lending opportunities and originating new loans particularly for rental housing preservation.
  • Structure loan transactions in compliance with internal credit and program requirements.
  • 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 request for Chief Executive Officer and Loan Committee review. With review from Senior Loan Officer, recommend loans for approval with suggested risk ratings and loan loss reserves.
  • Manage the loan approval process from deal screening through due diligence to loan approval.
  • Assist in the loan closing process by working with the Portfolio Managers.
  • 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.

PRIMARY RESPONSIBILITIES – Rental Preservation Technical Assistance

  • Provide hands-on technical assistance to nonprofit organizations interested in acquiring at-risk, USDA funded (Section 515) affordable multifamily housing.
  • Assist borrowers in obtaining third party reports such as appraisals and capital needs assessments
  • Develop preservation and financing strategies
  • Evaluate properties using USDA Preservation Assessment Tool (PAT)
  • Negotiate purchase contracts with sellers
  • Prepare and package USDA transfer applications
  • Coordinate with USDA and shepherd the transfer application through the USDA transfer process


  • 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.




  • Bachelor’s degree in relevant field preferred
  • Minimum of 3 years’ work experience in real estate finance or real estate development
  • Experience with rental housing underwriting
  • Experience in affordable rental housing, including development processes, public financing sources, multi-layered deal structuring, and providing technical assistance to affordable housing developers/nonprofit organizations
  • Knowledge of Community Development Financial Institutions
  • Demonstrated experience in preparing and negotiating complex transactions and balancing the programmatic needs of community-based organizations with sound underwriting judgment and risk mitigation
  • Familiarity with federal, state, and local community development programs, especially USDA Rural Development and Low-Income Housing Tax Credits
  • Strong financial, analytical, and communication skills.
  • Sufficient credit skills to conduct risk assessment and manage a portfolio
  • Excellent organizational skills and ability to prioritize and manage multiple tasks/projects and meet deadlines
  • Proficiency with Microsoft Office (particularly Word, Excel, and Power Point); Adobe Acrobat; and Microsoft Dynamics 365 (or other CRM)
  • Entrepreneurial spirit
  • Superior analytic and problem-solving skills.


  • Advanced degree in business, finance or related field
  • Knowledge of and experience with standard legal principles and procedures related to real estate transactions, property transfers, and collateral
  • Rental housing preservation experience, especially with USDA-financed housing (as lender, developer, owner or subsidy provider)
  • Commitment to social justice issues
  • Interest in rural, low-income housing.

Compensation and Benefits

HAC offers a highly competitive salary and benefits.

How to Apply

Please email a resume and brief cover letter to with “Loan Officer” in the subject line. Applications considered as received, with interviews starting immediately.