Position: Asset
Manager
Reports to: Vice President
Position Summary:
This department works primarily with city supervised Mitchell Lama properties, many with additional federal regulations. Organizational skills will be utilized to track the individual property’s requirements as well as follow-through on missing information/documents. Communication skills will be used to inform and obtain information, and report the status these properties.
Primary Responsibilities:
-
Monitor assigned portfolio of properties for compliance with regulatory agreements and governmental requirements
- Review property’s physical inspections and financial statements for potential or existing problems.
- Assess troubled properties and provide technical assistance/ workout strategies.
- Communicate requirements to owners, management companies and cooperative board of directors.
- Research and prepare written reports for supervisor and HDC’s senior staff and committees.
Position Requirements:
- Strong Financial Analysis Skills
- Excellent Organizational and Communication Skills (Oral and Written).
- Strong Computer Skills (word processing, spreadsheets and internet research).
Position: Assistant General Counsel
Position Summary:
This position serves as legal counsel for HDC in the negotiation, structuring and closing of loan and bond transactions.
Primary Responsibilities:
-
Document, negotiate, analyze, and close secured loan transactions
(including drafting commitments, drafting notes and mortgages,
reviewing and analyzing title and due diligence matters, negotiating loan
documents with borrower's and lender's counsel, assisting in reviewing due
diligence items and real estate matters)
- Monitor litigation matters .
- Notify and follow-up with insurers in connection with litigation .
- Represent HDC in pre-suit and post-suit matters not requiring outside counsel .
- Investigate and report on legal issues raised in litigation .
- Miscellaneous legal duties as assigned.
Position Requirements:
- Law Degree
- Organization skills.
- Expertise in drafting contracts.
- Law firm experience in real estate/corporate transactions (min 2-5 years).
Position: Project Manager
Position Summary:
This position originates and underwrites mortgage loans for affordable housing in NYC using funds raised through bond issuances and/or allocations of corporate reserves.
Primary Responsibilities:
- Underwrite mortgage loans (analyze loan proposals, review due diligence materials, prepare spreadsheets outlining each proposal, write memos requesting approval, present loans for approval to credit committee and HDC Board)
- Coordinate mortgage loan closings with internal and external parties, including developers, other City Agencies, bond underwriters and tax credit syndicators.
- Assist in evaluating and/or formulating affordable housing program and policy initiatives.
Position Requirements:
- Proficiency in creating mortgage loan models
- Understanding of financial concepts
- Excellent communication skills (oral/written)
- Advanced degree in a related field.
- Comparable experience (minimum 2 years)
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