Company: Enterprise Community Loan Fund
Locations: Columbia, MD; New York City, NY; Baltimore, MD; Washington, DC
Job Function: Lending/Loan Operations
Enterprise is a national nonprofit that exists to make a good home possible for the millions of families without one. We support community development organizations on the ground, aggregate and invest capital for impact, advance housing policy at every level of government, and build and manage communities ourselves. Since 1982, we have invested $54 billion and created 873,000 homes across all 50 states – all to make home and community places of pride, power and belonging.
Join us at enterprisecommunity.org.
Working at Enterprise
At Enterprise, you’ll be part of a diverse, committed team making a difference every day. You will collaborate with some of the smartest minds and biggest hearts in our field. You’ll be empowered to drive systems change and take bold steps to advance racial equity. And you will find a career home where you’re valued and supported in your growth journey.
Enterprise Community Loan Fund (ECLF) is a certified community development financial institution and a member of the Enterprise family of companies. Since its founding in 1982, Enterprise, our controlling entity, has raised and deployed $54 billion in equity, grants, and loans to support low-income people and low-income communities including building or preserving 873,000 affordable rental homes. For more information about Enterprise, please visit our website at www.enterprisecommunity.org.
The Enterprise Community Loan Fund has an immediate opening for a Senior Loan Officer position. The position would have lending and portfolio responsibilities throughout Enterprise’s national footprint and will be based in Columbia, Maryland, New York City, Baltimore, or Washington D.C.
Reporting to the Director of Lending, the Senior Loan Officer is responsible for underwriting loan requests in support of community development projects with particular emphasis on affordable housing and community facilities, including interim/bridge, New Market Tax Credits leverage loans and permanent term loans. The responsibilities also include asset managing a limited number of loans in the portfolio. The Senior Loan Officer is also expected to be the staff lead in multiple lending initiatives, working collaboratively with local staff of Enterprise Community Partners.
The Senior Loan Officer is expected to develop and maintain relationships with community development organizations and other relevant groups for the regions in which he/she works, as well as field representatives of Enterprise. The position requires an experienced professional with strong analytical, financial and relationship management skills.
- Contribute to production goals by identifying lending opportunities and originating new loans upon referral through the Enterprise system and external partners.
- Structure and negotiate financing proposals/commitments and prepare comprehensive written loan packages for review and approval by management or Loan Committee for both direct financing by ECLF and financing through various off-balance sheet funds.
- Review and interpret third party due diligence reports, including appraisals, market assessments, entitlement/zoning classifications, and environmental reports to determine transaction viability and appropriate loan structure.
- Coordinate the preparation of commitment letters and loan documents with attorneys.
- Manage the closing process, including internal and external closing counsel, and the collection, review, approval and execution of all closing items.
- Manage a limited number of existing loans in the portfolio.
- Maintain loan files in audit-ready condition to ensure accuracy and completeness.
- Work cooperatively with local and regional staff from Enterprise Community Partners, Enterprise Housing Community Investment and Bellwether Enterprise to coordinate and leverage Enterprise resources, grants, loans and equity in project development and advancement of the three goals of Enterprise’s strategic plan: Increasing housing supply, advancing racial equity, and building resilience and upward mobility.
- Maintain up to date entry of activity in ECLF’s Salesforce system.
- Assist with other projects as needed.
- Undergraduate degree required; advanced degree in business, finance or related field preferred.
- Five (5) years of lending experience, with three (3) years of multi-family affordable housing, real estate, underwriting responsibilities required. Community development underwriting and knowledge of various housing programs and the broader community development field is a plus.
- Ability to work independently in preparing and negotiating complex, multi-layered transactions and balancing the programmatic needs of community-based organizations with sound underwriting judgment and risk mitigation.
- Ability to prioritize and manage multiple projects and assignments, meet tight deadlines, and coordinate and communicate effectively across all levels of a large organization.
- Strong business development, analytical, communication, and problem-solving skills, with expertise in excel and working knowledge of Salesforce.
- Detailed analytical skills with database management and spreadsheet knowledge.
- Familiarity with federal, state and local community development programs, particularly programs that finance affordable housing, federally qualified health centers, and charter schools.
- Ability to travel up to 30% of the time.
Compensation and Benefits
Competitive salary based on experience with an exceptional benefits package
How to Apply
Please apply using the link to our careers page: https://wd5.myworkdaysite.com/en-US/recruiting/enterprisecommunity/EnterpriseCareers/job/Columbia-MD/Senior-Loan-Officer_REQ1425