Portfolio Conversion Analyst - MF

About the role

The Portfolio Conversion Analyst position provides analytical and technical support to the Underwriting Manager and Multifamily Financing team. The role involves collecting, inputting, and reviewing construction and leasing reports; preparing reports; assisting with equity installment timing and receipt as needed; analyzing property financials for stabilization; performing mortgage credit reviews (financial analysis) on borrowers and guarantors; completing analysis of property financials for stabilization; completing analysis of quarterly and annual operating results; undertaking projects.

Responsibilities

• Monitor construction process and work with Construction Services Group to ensure project is on-schedule and within budget for completion.
• As needed, work with Asset Management and Loan Portfolio Manager and Legal if a project is in violation of any legal documents.
• Analyze existing construction loans to determine whether or not the conditions for conversion to permanent, non-recourse financing have been met; including financial feasibility, physical and environmental condition, borrower financial status and regulatory requirements.
• Manage communications among a diverse mix of internal and external participants including finance, loan portfolio management, asset management, borrowers, equity investors, attorneys, title agents, etc.
• Review and understand legal documents to ensure transactions comply with the originally negotiated terms and conditions as well as internal and external (local laws and regulatory) policies.
• Review and analyze due diligence information used to underwrite and finalize deal files for delivery into internal and/or Government Agency systems (Risk Sharing Packages, Financial Calendar).
• Create and present comprehensive mortgage credit reviews on borrower and guarantor(s) for review and approval.
• Recommend and Reaffirm appropriate construction and permanent loans risk ratings.
• Utilize internal automated systems necessary to document underwriting processes.
• Negotiate structure, terms and conditions with borrowers in a constructive way, based on logic and underwriting issues, with the goal of securing transaction approval while appropriately managing risk to the company.
• Liaise between, but not limited to Legal, Operations, Underwriter, and Finance.

Requirements

• Bachelor's degree in accounting, finance or related field.
• Prior experience in underwriting commercial real estate.
• Excellent communication, organizational and interpersonal skills, along with the ability to multi-task under tight deadlines.
• Strong motivation, with the ability to work without supervision and take responsibility for increasingly complex tasks.
• Keen judgment, a strong work ethic.
• High attention to detail and the desire to take ownership of a process to drive towards resolutions.
• Possess a basic working knowledge of the commercial real estate industry, including finance.
• Well versed in commercial real estate concepts such as NOI, Cap Rates, debt service coverage, etc.

Physical Requirements

• Alternating between sitting, standing, and walking.
• Ancending and descending stairs.
• Crouching and stooping.
• Pushing and pulling.
• Repetitive task movements (filing, keyboarding, copying).
• Lifting, carrying, and moving objects of up to 10 -15 pounds.

What we Offer

• Paid time off, plus paid holidays.
• Medical/dental/vision/life insurance plans.
• Short/long term disability.
• Tuition reimbursement.
• Flex spending 401K plan – immediate vesting.
• IHDA employees may be eligible for federal loan forgiveness programs.
• Access to Personal Vehicle: Required along with appropriate insurance.
• Frequency of Travel: Infrequent – 5-10% annually.

Salary

$69,488 - $86,860

Schedule

Flexible scheduling is available, upon completion of a six-month probationary period.

Benefits

• Medical/dental/vision/life insurance plans.
• Short/long term disability.
• Tuition reimbursement.
• Flex spending 401K plan – immediate vesting.
• Access to Personal Vehicle: Required along with appropriate insurance.