Company: Housing Trust Silicon Valley
Location: San Jose, CA
Job Function: Lending/Loan Operations
Mission and History
Housing Trust is leading the effort to create a strong affordable housing market in the greater Bay Area as one of the region’s highest-volume nonprofit housing lenders. Serving people experiencing homelessness to renters to first-time homebuyers, we assist a wide range of residents with programs across the entire spectrum of housing issues. Since 2000, Housing Trust has invested $446 million – creating over 24,000 affordable housing opportunities serving over 44,000 of our neighbors. Housing Trust has led the way in engaging local corporations and foundations in investing hundreds of millions of dollars to work with us to bring more solutions to the market all while experiencing several years of high growth in our lending business.
Housing Trust is looking for exceptional people who believe that safe, stable affordable housing opens the door to better living for everyone. We embrace diversity. We nurture it and we thrive on it because it benefits our organization, our partners, and our community.
The Senior Loan Administrator is part of our Multifamily Lending team. This role is responsible for successfully closing complex loan transactions, servicing loans, and portfolio management. In addition, this role is critical in ensuring accurate and organized records are maintained.
Support to close approximately 15 to 20 complex commercial loans transactions per year:
- Compile and analyze due diligence materials required to create loan documents which comply with loan terms pursuant to credit approval and HT loan standards.
- Ensure final loan packages meet HT standards in preparation of the funding and boarding process.
- Responsible for the loan boarding, data entry, and backup support for payments, draws, advances as part of the servicing function. Provides ongoing tracking and reporting of covenants, insurance, et. al. to management.
- Monitor loans for delinquencies, timely payment status, and notify appropriate departments of required action.
- Assist borrowers through the loan closing process, including collecting necessary documentation; coordinating with title company, other lenders, outside counsel, and any other party involved in each transaction.
- Participate in loan closing meetings, pipeline meetings, and loan committee meetings to achieve successful closing.
Loan servicing and portfolio management duties:
- Process borrowers draw requests, including verifying loan use compliance, reviewing draw requests, and coordinating draws with loan pool participants.
- Maintain accurate disbursement tracking to assure that loan remains “in balance” and in compliance with loan agreement and department policies.
- Manage upcoming loan maturities and loan pay-offs, including preparation of demands, reconveyances and communicating with Loan Servicer and borrowers to receive payment or process change in terms.
- Monitor loan covenants and compliance, including insurance requirements and collateral and financial reporting requirements.
- Ensure complete and accurate imaged files are maintained for presentation in internal and external audits.
Data Management & Reporting
Maintain organized and accurate recordkeeping systems, including:
- Accurately maintain a loan closing database (Salesforce) to mitigate risk.
- Provide timely and accurate reports for various stakeholders, including bank loan pool investors, HT Board of Directors, HT management, and funders.
- Assist with preparation of training documentation.
- Provide required loan pool and transaction information to Finance team.
- Education in real estate fundamentals and/or paralegal studies with 5-7 years of experience in closing commercial real estate and construction loans, preferable affordable housing loans.
- Construction lending expertise including documentation, review of construction contracts, project documents, familiar with title requirements for construction closing and disbursements related to construction loans.
- Strong knowledge of title, survey, formation documents, property, liability and flood insurance, and other real estate due diligence.
- Underwriting or credit analysis experience, a plus.
- Proficient in Microsoft Office, file management software (Box), and CRM software (Salesforce)
- Highly organized with an appropriate sense of urgency to manage multiple initiatives simultaneously and meet deadlines and mitigate risk.
- Ability to respond quickly and effectively to changing demands while continually delivering high performance.
- Strong attention to detail and a high level of accuracy.
- Highly skilled at collaborating across various levels of diversity.
- Excellent written and verbal communication skills are required.
- Strong analytical, time management and critical thinking skills.
- Embrace a work culture that celebrates creativity and innovation.
- Ability to work effectively both independently and in a team environment.
Compensation and Benefits
- Housing Trust offers a competitive compensation package, including a bonus plan and benefits. This is an exempt, full-time position. Annual salary range for this position is $80,000 to $90,000.
- Medical, Dental and Vision benefits fully covered for employees. Eligible dependents covered at 50%.
- 401K employer contribution at 3% and additional match up to 2%.
- 3 weeks of paid vacation
- 12 paid sick days
- Paid year-end shutdown
- End of year bonus
- Tuition reimbursement program and more…
How to Apply
Resumes will be reviewed and considered on an ongoing basis. To be considered for this position, please submit a letter of interest and resume to Jobs1@housingtrustsv.org.
Housing Trust is an equal opportunity employer to all regardless of race, color, national origin, ancestry, sex, marital status, disability, religious or political affiliation, actual or perceived gender identity, age, or sexual orientation. Housing Trust is committed to diversity, equity and inclusion and our goal is to have a workforce (at all job levels) that is representative of the communities we serve.