Job Information
New Jersey Housing and Mortgage Finance Agency Credit Officer I in Trenton, New Jersey
Credit Officer I
Location Trenton, NJ
Job Code 735
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NOTICE OF VACANCY
THE EXECUTIVE DIRECTOR OF THE NEW JERSEY HOUSING AND MORTGAGE FINANCE AGENCY INVITES APPLICATIONS FROM QUALIFIED CANDIDATES FOR THE FOLLOWING:
Job Title: Credit Officer I
Salary Range: PR10 ($57,151.13 - $80,416.68)
Division: Multifamily/Supported Housing and Lending
FL Status: Exempt
Issue Date: 8/15/24
Closing Date: 9/22/24
Union Status: Professional Bargaining Unit, Exempt
Employment Status: Full time
JOB DESCRIPTION
Under the supervision of the Multifamily/Supported Housing and Lending Loan Manager, evaluate and process multifamily rental housing loans; inform the applicant of various resources from other potential funding sources; promote HMFA financing and educate the public. Perform financial analyses of mortgage applications and develop financial feasibility strategies. Plan, direct and work with the applicant to evaluate the project's design, the development cost and the risk factors; seek cooperation and coordination of federal, state and municipal agencies, as well as private enterprise; perform related duties as required.
JOB DUTIES AND RESPONSIBILITIES
Market, evaluate and process multifamily rental housing loans, assist the applicant in applying for additional funds from other potential sources, i.e., LIHTC (Low Income Housing Tax Credits), Balanced Housing, Home Funds, etc.
Perform financial analyses of multifamily housing development mortgage applications and develop financial feasibility strategies through the creation and use of financial analysis tools that maximize the number of alternative solutions available for project financing.
Conduct site inspections in conjunction with Technical Services divisional staff and make analyses of land suitability, eligibility for subsidies and marketability of housing; make recommendations for approval or disapproval based on inspection; prepare reports based on findings.
Plan, direct, work and establish a timeframe with the applicant to evaluate the design of the project, the development cost, the risk factors and a timely closing; seek cooperation and coordination of Federal, State and municipal agencies, as well as private enterprise.
Correlate population, housing, market, and economic data to determine project feasibility.
Ensure all financial feasibility analysis documents are current and accurate to meet the needs of the Agenda Review Committee.
Review appraisals and market studies in conjunction with the Administrator of Multifamily/Supported Housing and Lending for multifamily housing developments and make recommendations for approval or disapproval based on the analysis.
Initiate contact with housing sponsors and development teams on all aspects of project development.
Assist and guide prospective developers and their teams on all aspects of project development including development of (in cooperation with selected HMFA Divisions) preliminary and final plans and specifications by proper land use practices, building code considerations, zoning compliance, and housing assistance plans.
- Prepare reviews, evaluative reports and feasibility analyses, recommending construction and/or permanent mortgage loans for consideration and adoption by the Agenda Review Committee and the HMFA Board.
Participate as needed in special inter-HMFA projects.
Ensure quality and timeliness of written work and readiness of applications for review by the Director.
Prepare correspondence for the Director or Loan Manager as required.
Promote the use of HMFA multifamily mortgage products and provide general information to the public about HMFA programs.
Attend meetings and conferences as requested and prepare written reports based on discussions.
MINIMUM REQUIREMENTS
Education / Experience:
Credit Officer I (Range 10) Four (4) year college degree; three (3) years of relevant experience; or equivalent combination of education and experience that meets the required knowledge, skills and abilities.
Skills:
Knowledge of real estate development principles, municipal land use laws and housing finance mechanisms.
Extensive knowledge of Federal and State housing programs.
Extensive knowledge of Federal and State statutes governing lending and credit practices.
Extensive knowledge of HMFA statutes, regulations and underwriting criteria.
Knowledge of real estate property management procedures.
Ability to interpret program development and implementation procedures.
Knowledge of Federal and State laws affecting multifamily construction.
Ability to interpret information and make appropriate recommendations.
Ability to accomplish multiple assignments simultaneously.
Ability to communicate effectively, orally, in writing and to listen actively.
Ability to prepare financial statements and accurate, concise and informative reports.
Ability to establish effective working relationships with HMFA employees and the general public.
Ability to perform financial calculations related to real estate transactions.
Ability to maintain a positive work atmosphere in an appropriate manner of behavior which ensures cooperation and effective communication with customers, clients, peers and management.
PHYSICAL DEMANDS Non-physical.
WORKING CONDITIONS General office environment; extensive travel is required.
BENEFITS
NJHMFA provides a comprehensive benefit package which includes:
Medical, prescription, dental, vision & long term disability
FSA & HSA
Public Service Loan Forgiveness and Tuition Reimbursement
Public Employees' Retirement System (PERS)
Deferred compensation plans
Employee assistance services (EAS)
State employee discounts program
Paid personal, sick and vacation days
Paid holidays
Partial Telework
Residency in the State of New Jersey is required of all employees with an agency of the State in accordance with the New Jersey First Act, N.J.S.A. 52:14-7 (L. 2011, Chapter 70). Employees must comply with the “New Jersey First Act” which requires employees hired after September 1, 2011 to reside in New Jersey. Non-New Jersey resident employees must relocate to New Jersey within one year of their date of hire and provide proof of residency to Human Resources.
The NJHMFA is an Equal Opportunity Employer in compliance with all Federal, State and Local Regulations. NJHMFA provides equal employment opportunity to both individuals with veteran status and individuals with disabilities.
Must complete an Outside Activity Questionnaire (disclosure of outside office or employment) on an annual basis.
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