Underwriting and Bond Financial Analyst (Mortgage Finance)

Underwriting and Bond Financial Analyst:

The Housing Opportunities Commission of Montgomery County (HOC) was established in 1974 to better respond to the County's need for affordable housing. HOC is authorized to acquire, own, lease, and operate housing; to provide for the construction or renovation of housing; obtain financial assistance from any public or private source to assist its housing activities; and arrange for social services, resident services, and daycare.

Job Description:

This is a professional position responsible for assisting the Mortgage Finance Division in evaluating and documenting credit risk. The position also provides support to the multifamily underwriting staff which requires monitoring the work flow and administration of legal documents related to the financing of multifamily real estate transactions as well as processing and monitoring of the use of bond proceeds during the construction period.

The incumbent requires an extensive knowledge of the principles of real estate and mortgage finance divisions in order to perform the due diligence related to the review of financial and construction data. This includes, but is not limited to financial statements, construction loan documents, ensuring compliance with loan requirements, and performing audits on assigned aspects of the loan management and underwriting process.

The incumbent is expected to be capable of controlling all aspects of work assigned within the limits of agency objectives and available resources in consultation with the supervisor. The nature of the work requires the employee to adapt or interpret existing guidelines and make recommendations based on an analysis of the situation. Work requires a considerable amount of assessment and analysis of programs and processes, including the ability to determine financial stability and physical soundness of properties, appropriateness of financing documentation, and the flow of capital project expenditures to achieve the goals of the agency from each financing. The incumbent must be able to identify negative conditions for properties and financing in order to avoid risk and potential problem areas.

Primary contact is with real estate developers, staff throughout HOC, and the Commission. However, there is ongoing consultation with the Manager, Multifamily Programs, Senior Multifamily Underwriter and Mortgage Finance Leadership, Real Estate Development & Legal staff to agree on an acceptable course of action or provide advice in areas of expertise.

Example of Duties:

• Manage Working with Mortgage Finance and Asset Management divisions, Assisting with HFA Risk-
• Sharing and Federal Financing Bank program monitoring and administration.
• Responsibility for review of loan documents and financial information for bond finances
• properties.
• Work closely with Legal, IT, Asset Management, and Mortgage Finance staff to develop a lending
• and loan management database in support of the mortgage finance activities.
• Inspect subject and comparable properties and their neighborhood and market characteristics.
• Support Mortgage Finance single-family mortgage operations.
• Examine, analyze, and interpret financial and construction data which includes financial statements, construction contracts, construction budgets, change orders, feasibility studies, appraisals, environmental studies, and other related third-party reports.
• Collecting, entering, and validating construction and permanent loan data from various sources.
• Familiar with market trends related to affordable housing properties in Montgomery County
• that may include several revenue streams such, as retail, commercial, and residential leases.
• Resolving discrepancies and ensuring mortgage loan data integrity while processing loans
• through HOC's various systems.
• Ability to generate multi-year pro forma(s) and calculate financial ratios.
• Analyze historical property financial statements.
• Administer collection of documents during the underwriting process.
• Assist in the bond issuance process, including coordinating materials.
• Administer bond draws and construction process for all bond proceeds.
• Keep updated on policies and regulations that may affect HOC programs and be comfortable with transition and change.

Minimum Qualifications:

Experience:

• At least five years of experience in multifamily underwriting and/or mortgage finance with emphasis on state and local housing finance agencies.

Education:

• Graduation from an accredited college or university with a Bachelor's degree in either Finance, Economics or in a related field. Masters preferred.
• An equivalent combination of education and experience may be accepted. Low-income residents in Montgomery County with the above qualifications are encouraged to apply.

Knowledge Skills and Abilities:

• Knowledge of Microsoft suite of products - particularly Microsoft PowerPoint, Word, and Excel.
• Knowledge of bonds and the bond market.
• Knowledge of Familiar with market trends related to affordable housing properties in Montgomery County
• Knowledge of local, state and federal housing programs.
• Ability to perform financial analysis, development and operating budgets of housing development and prepare and develop reports for the Commission or for storage of appropriate data.
• Ability to learn local, state and federal laws and regulations applicable to portfolio.
• Ability to interpret bond documents and work HOC legal staff as needed.
• Ability to communicate clearly both in writing and orally.
• Ability to deal tactfully, effectively and equitably with people

* Grade 26 - Min: $77,798 / Mid: $103,922 / Max: $130,046 | Salary determined by departmental budget - Offer commensurate with experience.

HOC is an equal-opportunity employer committed to diversity and inclusion in the workplace. All qualified applicants will receive consideration for employment without regard to sex, race, color, age, national origin, religion, disability, genetic information, marital status, sexual orientation, gender identity, gender reassignment, citizenship, immigration status, protected veteran status, or any other basis prohibited under applicable federal, state or local law. HOC promotes a drug-free workplace.

HOC conducts criminal background checks, employment reference checks, and where applicable, reviews driving records in determining suitability for employment. Selected applicants will be required to submit to pre-employment drug and alcohol screening. Employment is contingent upon drug and alcohol test results.