Job Description

JOB DESCRIPTION

Position Title: Asset Manager, Affordable Housing

Annual Salary Range: $109,000-$154,000

Supports: Loan Origination and Loan Administration

Reports To: Vice President, Asset Management

THE ORGANIZATION

CCRC is California’s premier multifamily affordable housing lender, and responding to California’s ongoing affordable housing challenges has been its business since 1989. CCRC specializes in programs for families and seniors, citizens with special needs, veterans and housing for formerly homeless residents. Backed by major retail banks, insurance companies and pension plans, CCRC serves the entire state of California and has delivered in excess of $2.3 billion in financing, services and technical assistance that have made it the lender-of-choice of California’s affordable housing development community.

JOB SUMMARY

Responsible for the oversite and review of loans held by CCRC or serviced by CCRC on behalf of investors. Reviews property data and analyzes performance of credit and prepares loan reviews. Maintains ongoing communication with borrowers on matters requiring lender consent.

PRINCIPAL RESPONSIBILITIES AND DUTIES

· Provides analysis of financial information on existing loans in the portfolio.

· Monitors and enforces borrower compliance with loan documents.

· Ensures that Asset Management Database contains accurate and up-to-date information relevant to monitoring property performance, including operating data, vacancy rates, reserve balances, rents, insurance, property taxes, property inspections, ownership and property management changes and more.

· Reviews and approves site inspection reports and follows up on inspection issues of concern. Updates the Asset Management Database with inspection information and issues requiring follow-up.

· Prepares and/or approves all assigned loan reviews in a timely manner, provides each loans review with the appropriate risk rating analysis and action plan where appropriate, and ensures all loan review data is accurately input into the Asset Management Database.

· Proactively reviews non-performing loans to identify trends and corrections needed.

· Interfaces with investors on borrower consent requests, reporting and investor information requests.

· Manages and underwrites borrower consent requests for reserve distributions, ownership changes, property management changes and other matters.

· Performs special projects and other duties related to the CCRC loan portfolio.

· Monitors and adheres to various investor asset management/servicing contract guidelines.

· Assists with loan sales by responding to information requests from loan purchasers and maintaining accurate loan and property information.

QUALIFICATIONS AND SKILLS

· Five or more years’ experience in multifamily rental housing asset management, finance or development.

· Comprehensive knowledge of multifamily housing underwriting, credit analysis and real estate documentation.

· Prior asset repositioning experience strongly preferred.

· Broad knowledge of affordable housing program regulations and financing structures, including Low Income Housing Tax Credits; private activity bonds; federal, state and local housing finance programs, GSE guidelines and Section 8.

· Self-starter with the ability to self-manage work assignments and problem-solve.

· Strong MS Excel skills.

· Strong oral and written communication.

· Strong financial statement analysis skills as well as ability to read and comprehend complex multifamily financing pro formas.

· Ability to work with fellow staff and borrowers to ensure open and effective communication.

· Excellent organizational skills, with attention to detail and accuracy.

· Bachelor’s degree required.

Send resume, cover letter, and three professional references to: resumes@e-ccrc.org

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