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Mortgage Financing Specialist

2 months ago


Burlington, Vermont, United States Evernorth Full time
Job Overview

VISION STATEMENT: Our goal is to ensure that every community has access to affordable housing and the means to prosper.

MISSION STATEMENT: We collaborate with partners to link underserved areas in northern New England with the necessary resources and expertise to promote projects and policies that foster inclusive living environments.

POSITION SUMMARY:

The Mortgage Financing Specialist oversees the entire loan lifecycle from initiation to completion. This includes marketing, business development, loan origination, underwriting, credit assessment, approval, and closing, all while coordinating with team members. The Specialist engages with various stakeholders, including borrowers, legal advisors, and partner organizations, to ensure that loan programs are executed efficiently and adhere to all relevant regulations.

KEY RESPONSIBILITIES:

Business Development: Collaborate with the Lending Director and Community Investments team to identify lending opportunities by fostering relationships with industry stakeholders, including property owners, developers, public entities, and community groups to support organizational goals.

  • Stay informed about federal and state funding initiatives for affordable housing, including Low-Income Housing Tax Credits and USDA-RD programs.
  • Participate in networking events and professional development activities; share knowledge through panel discussions and presentations as appropriate.

Loan Origination: Ensure timely and comprehensive evaluation of financing requests.

  • Assess loan applications and compile necessary due diligence documents for underwriting and approval.
  • Conduct initial financial analysis to evaluate project viability and creditworthiness, ensuring alignment with existing loan products and organizational objectives.
  • Draft project feasibility and credit assessment reports for review by Credit and Loan Committees.
  • Prepare and distribute loan commitment letters for approval and signature.

Loan Closing: Ensure efficient closing and funding of loans in line with approved terms.

  • Coordinate the collection of final due diligence documents from borrowers and collaborate with team members to guarantee accurate and timely loan closings.
  • Work alongside legal teams to draft and finalize loan agreements.
  • Review closing documents and manage requests for initial loan disbursements.
  • Prepare transition memos to facilitate seamless handover to team members responsible for ongoing loan servicing and compliance.

Process Improvement: Assist in developing and maintaining effective workflows for loan production and administration.

  • Work with colleagues to promote continuous improvement in business processes, focusing on customer service and community impact.
  • Engage with internal teams to create and implement data management systems that enhance efficiency and service quality.
  • Report on loan origination activities and provide updates for effective program management.

SUPERVISION: This position does not supervise others.

REPORTING TO: Director of Lending

EDUCATION & EXPERIENCE REQUIRED:

  • Bachelor's Degree or equivalent professional experience.
  • A minimum of 3 years in multifamily real estate finance, development, or affordable housing finance program management.

PREFERRED QUALIFICATIONS:

  • 5+ years of experience in multifamily real estate finance or community development lending.
  • Experience with a Community Development Financial Institution (CDFI).
  • Familiarity with affordable housing finance programs, including state agency financing and federal tax credit programs.
  • Demonstrated ability to manage complex projects with multiple stakeholders.
  • Strong technological proficiency, particularly with loan servicing software and data management tools.

ESSENTIAL SKILLS:

  • Proficient in Office 365 Suite.
  • Ability to interpret and analyze legal documents related to real estate finance.
  • Strong analytical skills and attention to detail.
  • Effective planning and prioritization skills, with the ability to meet tight deadlines.
  • Capacity to work independently and collaboratively.
  • Adaptability to changes in the work environment and new initiatives.
  • Willingness to travel as required.
  • Professional demeanor and strong interpersonal skills for effective communication with stakeholders.
  • Excellent verbal and written communication abilities.

WORK ENVIRONMENT:

  • Accommodations may be provided for individuals with disabilities.
  • The office environment is typically quiet, while job sites may vary in noise levels.
  • This role involves periods of sitting, standing, and walking, as well as the use of hands for typing and other tasks.
  • Driving may be required for meetings.
  • Physical demands may include lifting up to 20 pounds.