Loan Processor II

5 days ago


Albuquerque, New Mexico, United States Housing New Mexico MFA Full time
Job Summary

This role supports the Housing Development Program Managers by performing a range of analytical, coordinating, and monitoring tasks related to the housing development department's loan and grant programs for new construction and rehabilitation of affordable housing.

Key Responsibilities
  • Manage and track all stages of the loan pipeline, coordinating workflow with other Loan Processors, Program Coordinators, Program Managers, and Tax Credit Manager.
  • Prepare and maintain accurate internal and external use reports, ensuring they are generated regularly and on schedule.
  • Order third-party reports, such as credit bureau reports and appraisals.
  • Review and determine completeness of LIHTC and/or loan application materials per checklist, process and track external funding requests and approvals.
  • Coordinate loan/grant-related interdepartmental activities and loan closing, providing or requesting information as needed.
  • Prepare closing checklists and prepare accurate initial loan/grant documents consistent with loan approvals and program policies for Development Loan Manager review.
  • Determine applicability of LIHTC and/or loan closing checklist requirements and communicate requirements to applicants.
  • Review draw requests according to written procedures and determine funding recommendations, which must be supported by documentation.
  • Complete all files according to established file management systems and checklists and maintain detailed record-keeping systems.
  • Work with clients and funding partners to obtain required documentation in a timely manner.
  • Prepare check requests and invoices, process invoices for payment from direct cost accounts, and maintain documentation and balances with the accounting department on a regular basis.
  • Prepare and distribute loan and tax credit documentation, such as loan award letters, deficiency notices, preliminary and final rejection/award letters, Land Use Restriction Agreements, etc.
  • Prepare 8609 forms for issuance, etc.
  • Prepare LIHTC land use restriction agreement and LIHTC land use restriction agreement amendments, etc.
  • Prepare and enter into appropriate underwriting tabs a summary of the market study provided with each LIHTC and/or loan application.
  • Perform other related duties of a similar nature and level as assigned.
Requirements
  • Bachelor's in business administration, real estate, urban studies/planning, or a closely related field and three or more years of relevant work experience in commercial loan processing or real estate.
  • May substitute four or more years of relevant work experience in commercial loan underwriting/processing, lending, and credit analysis, or real estate development for education requirement.
Conditions of Employment
  • Valid NM Driver's License


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