**This position is being posted at two levels, Housing Development Officer Intermediate (Job ID 45110) and Housing Development Officer Senior (Job ID 45146). The qualifications of the top candidate will determine the level in which the position will be filled.
Minnesota Housing is hiring! Minnesota Housing is a mission focused bank that is seeking a qualified Underwriter candidate in the Multifamily Underwriting team.
The position is responsible for processing funding applications to determine if submitted projects meet Agency guidelines and strategic priorities. The position will apply the Agency’s underwriting standards and review applications to assess financial feasibility and strength. Once selected for funding, the position will review and approve due diligence, assess financial feasibility as the project moves through to closing, test assumptions, analyze various financial scenarios, and problem solve. The position will also create and present initial selection funding recommendations as well as the final mortgage credit and board recommendations. You’ll have the opportunity to work with a great team of professionals that create and preserve multifmaily affordable rental housing for Minnesotans.
Essential Job Duties:
- Oversee all steps in the underwriting process that includes: sizing amortizing debt, soft debt, and tax credits, working with external customers and funders, and working with Agency staff across the division (e.g. supportive housing, asset management, legal)
- Validate submitted applications for adherence to scoring categories and conduct feasibility analysis on proposals
- Compare proposals to program regulations and determine the best financing options, including funding source and deal structure. Understand and analyze multiple funding sources that have varying degrees of financial risk.
- Generate and test multiple assumptions, trends, financing scenarios and review financial feasibility
- Act as the Agency point of contact for applicants and developers
- Problem solve and collaborate with the developer and other funders as a project moves to closing
- Provide technical assistance as needed to potential applicants, to facilitate applications that are competitive and meet Minnesota Housing selection and funding criteria