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NYC Housing Development Corp.
The Development Department is responsible for bringing new and viable projects into HDC by researching proposals, performing underwriting, guiding projects through HDC's Credit Committee and Board approval process, creating sound financial programs and structures that leverage the Corporation's assets while encouraging private investment.
This position originates and underwrites mortgage loans using funds raised through bond issuance and/or allocations of corporate reserves.
• Underwrite mortgage loans (analyze loan proposals; review due diligence materials; prepare spreadsheets outlining each proposal; prepare credit memos; present loans to credit committee for approval)
• Coordinate mortgage loan closings with internal and external parties, including developers, other City agencies, bankers, bond underwriters and tax credit syndicators
• Manage relationships with current and prospective developers/borrowers
• Prepare management reports and loan tracking information
• Proficiency in creating mortgage loan models
• Understanding of financial concepts
• Excellent communication skills (oral/written)
• Advanced degree in a related field
• Comparable experience (min. 2 years)
How TO APPLY:
The New York City Housing Development Corporation (HDC) is the nation’s number one issuer of bonds for multi-family affordable housing. Established as a public benefit corporation by the State of New York in 1971, HDC is responsible for financing the creation and preservation of affordable housing within the five boroughs of New York City. The financing provided by HDC is in the form of low-cost mortgages made through the sale of tax-exempt and taxable bonds. Our programs are designed for multi-family rental housing and cooperative developments and serve a wide range of income segments from very-low to middle-income tenants.
HDC is an equal opportunity employer