Underwriter (Government Representative 2 Unclassified) Position Available In Mercer, New Jersey

Underwriter (Government Representative 2 Unclassified) New Jersey Department of Community Affairs -Division of Housing and Community Resources Trenton, NJ 08608

• Hybrid work

YOU MUST APPLY THROUGH THE PORTAL LINK NOT INDEED TO BE CONSIDERED!

PLEASE

COPY AND PASTE THE BELOW LINK TO APPLY.

https://njdcaportal.dynamics365portals.us/dca-services/public-job-postings/view-job-posting/?id=%7b27373F95-7141-F011-B4CB-001DD80B4DD7%7d Job Overview The New Jersey Department of Community Affairs (DCA) seeks experienced, mission-driven professionals to serve as Underwriters in the Housing Production Unit, to underwrite and provide technical assistance to projects to assist DCA in achieving its affordable housing production goals. As part of Underwriting team, the Underwriters will:

• Underwrite project applications for affordable housing projects financed through DCA-administered state and federal funds, according to underwriting standards established by DCA.

Duties Underwrite project applications for affordable housing projects financed through DCA-administered state and federal funds, according to underwriting standards established by DCA. Assist in determining housing developer eligibility and capacity based on analysis of financial data, program requirements, construction skills, historical portfolio, and housing sponsor experience. Analyze, review, and approve project applications and contracts for affordable housing projects with developers financed through DCA-administered state and federal funds, according to the program manual and guidelines. Analyze and determine loan-to-cost ratio and debt service coverage ratio. Analyze and determine borrowers’ financial stability including review of borrower’s financial statements, income, assets, credit history, debt history and business plan to assess financial stability and ability to repay the loan. Assist with conducting property evaluations including market analysis and appraisals to determine property value and marketability. Assist Senior staff in performing complex duties of evaluating housing developers credit worthiness, levels of risk assessment and mitigating risks for various projects through the collection of necessary applicant information and calculates risk potential analyzing a variety of factors such as checking accounts, tax returns, business history, financial standing, audited financials and any potential risk factors. Provide accurate findings and information to Senior management used for making recommendations of approval or denial of project loan applications. Underwrite loans originated through the Affordable Housing Trust Fund, HOME and National Housing Trust Fund loan programs. Provide day to day management of an assigned portfolio of loans and grants from initial application to closeout, including site visits, timely review of financial statements, review and approval of disbursement/funding requests, monitoring for compliance and processing modification and extension requests. Assists Agency and Senior staff with field visits to evaluate riskiness in mortgages of proposed projects and ensure compliance with contractual terms and federal and state regulations. Perform various administrative and analytical duties related to the operation and monitoring of housing and community development programs targeted to low- and moderate-income families, including evaluating projects according to real estate financial underwriting standards and processes. Participate in the review and ranking of grant applications submitted by prospective applicants according to selection criteria established for the relevant programs. Provide technical assistance to address impediments throughout development process until project completion and closeout. Audit and evaluate grantee compliance with program regulations; evaluate grant applications and monitors contract compliance. Performs other related duties as required. Requirements

EDUCATION/EXPERIENCE

Graduation from an accredited college or university with a bachelor’s degree and two (2) years’ experience in developing and/or managing programs addressing affordable housing. One (1) year experience with real estate financial underwriting standards and processes.

SPECIAL TRAINING

• Knowledge of current research, national best practices, and federal and state programs and regulations impacting affordable housing.
• Familiarity with the landscape of affordable housing programs in NJ, such as Balanced Housing, HOME, National Housing Trust Fund, Low Income Housing Tax Credit as well as knowledge of populations impacted by the need and or the development of affordable housing.
• Experience in collecting and analyzing data.
• Excellent written and verbal communication skills.

LICENSE:

Appointees will be required to possess a valid driver’s license only if the operation of a vehicle, rather than employee mobility, is necessary to perform essential duties of the position. Join us as we strive for excellence in the lending industry while providing exceptional service to our clients. We look forward to your application!

Job Type:

Full-time Pay:

$75,000.00 per year

Benefits:

Dental insurance Health insurance Paid time off Vision insurance

Schedule:

8 hour shift Monday to

Friday Work Location:

Hybrid remote in Trenton, NJ 08608