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Director, Multi-Family Development Finance

Philadelphia Housing Development Corp. |

Location: 1234 Market Street, 16th Floor, Philadelphia, PA, 19107, United States
Job Category: PHDC, Housing Finance
Industry: Housing Finance, Housing Construction
Relocation Expense Covered: No
Employee Type: Exempt
Required Degree: 4 Year Degree
Manage Others: Yes
Minimum Experience: 5 Years

Description

The Philadelphia Housing Development Corporation seeks a highly motivated Director, Multi-Family Development Finance. The successful candidate will manage a technical staff including the Housing Finance and Housing Construction units which are responsible for activities relating to the planning, review, and coordination of the agency’s underwriting, evaluation, and monitoring/compliance of residential and mixed-use projects; and evaluation and administration of loans originated and serviced by the Philadelphia Redevelopment Authority under its various housing finance programs. The Director will work closely with other PHDC departments including the Legal and Finance Departments and may be involved in projects involving a variety of financing sources including tax credits, federal programs, and bond financing.

Salary: Commensurate with Experience and Qualifications

PHDC offers a generous benefits package, including:

  • Superior health insurance (including prescription, vision, and dental)
  • Generous retirement plan
  • Life insurance
  • Deferred compensation
  • Paid vacation and sick time
  • And much more!

ONCE HIRED ALL EMPLOYEES MUST BECOME A RESIDENT OF THE CITY OF PHILADELPHIA WITHIN SIX MONTHS OF APPOINTMENT AND MAINTAIN RESIDENCY STATUS IN THE CITY OF PHILADELPHIA AS A CONDITION OF EMPLOYMENT.

PHDC is an equal opportunity employer and does not permit discrimination based on race, ethnicity, color, sex, sexual orientation, gender identity, religion, national origin, ancestry, age, disability, marital status, source of income, familial status, genetic information or domestic or sexual violence victim status.

Requirements

MINIMUM QUALIFICATIONS -TRAINING AND EXPERIENCE

  • Graduation from a recognized college or university with a Bachelor’s degree in accounting, economics, business or real estate finance and five years of progressively responsible experience with public or private financial institutions originating their own loan portfolios or purchasing loans for single and multi-family residential properties; OR
  • Graduation from a recognized college or university with a Master’s degree in accounting, economics, business or real estate finance and three years of progressively responsible experience with public or private financial institutions originating their own loan portfolios or purchasing loans for single and multi-family residential properties; AND
  • At least one year experience supervising professional staff.

Summary

EXAMPLES OF DUTIES

  • Assists in the supervision and management of staff that reviews loan applications and supporting documentation to ensure compliance with PHDC underwriting standards and any other underwriting standards or regulations that may be required under PHDC’s various development finance programs
  • Reviews and evaluates appraisal reports, credit analyses, development and operating pro formas, and overall acceptability of the loan;
  • Reviews and recommends for approval loan draws and performs any necessary tasks required to ensure compliance with all regulations associated with PHDC’s housing finance programs;
  • Coordinates collection of information necessary for evaluation; reviews and determines project feasibility, including evaluation of financial pro forma, market analysis, structural condition, and environmental concerns;
  • Determines funding sources;
  • Maintains information on available financial techniques, including government and private financing;
  • Coordinates and monitors preparation of plans and specifications for rehabilitation or new constructions;
  • Evaluates and monitors program objectives and contractual services;
  • Prepares reports and agenda items.

KNOWLEDGE, SKILLS, AND ABILITIES

  • Strong knowledge of real estate financing principles and practices;
  • Knowledge of federal, state, and local government financing programs (including CDBG, HOME Investment Partnership, and federal Housing Trust Fund)
  • Knowledge of Low-Income Housing Tax Credits (LIHTC), bond financing, and large-scale real estate transactions
  • Knowledge of techniques of mortgage underwriting, including
    • real estate appraisal;
    • mortgage credit evaluation; and
    • factors affecting property values and real estate trends;
  • Knowledge of public (federal, state, and local) and private housing finance programs;
  • Understanding, sensitivity, and support of public goals and objectives of PHDC and public policy issues;
  • Ability to plan, coordinate, carry out, and monitor housing development activities;
  • Ability to maintain records and reports;
  • Ability to establish and maintain effective working relationships with a variety of public, and private-sector actors;
  • Strong communication skills, including ability to express oneself clearly and concisely in oral and written communication;
  • Excellent computer skills in a Microsoft Windows environment – must include Word, Excel, and Access (other programs, such as ArcGIS a plus)

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