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MAP Program Associate (Temporary)
Center for New York City Neighborhoods
Background The Center for New York City Neighborhoods (CNYCN) is a nonprofit organization created to be New York City's public/private foreclosure prevention resource and response. CNYCN coordinates citywide programming among nonprofit partners providing legal services and housing counseling to those at risk of losing their homes to mortgage delinquency and foreclosure. CNYCN acts as the hub of its network of foreclosure prevention service providers, and its activities include: supporting the network through grants, technical assistance and training; providing referrals, escalation services and loans through a call center, lender/servicer team and foreclosure prevention loan program; conducting research and developing policy to promote local and scalable solutions to the foreclosure and credit crisis; tracking case management data through a centralized reporting system; working with the court system to improve the mediation and legal process; supporting community outreach and neighborhood stabilization efforts; and other similar initiatives. The Mortgage Assistance Program (MAP) is a foreclosure prevention loan fund that the New York City Department of Housing Preservation and Development (HPD) developed in partnership with CNYCN. New York City has committed $5 million in public funds. MAP loans are made for up to $25,000 to individual homeowners to help prevent foreclosure. CNYCN manages the MAP Program through an affiliate, Sustainable Neighborhoods, LLC.
The MAP Program Associate will be responsible for reviewing and underwriting MAP loan applications. Primary responsibilities include:
* Review and analyze MAP loans from application to approval, including verification of eligibility, analysis of applicant’s financial documents, and presentation of loans to the Credit Committee for approval and the issuance of commitment letters.
* Guide approved MAP applications through closing process, including negotiation of workout, review of readiness to close in compliance with funder regulations, resolution of title issues and other impediments to closing, preparation and execution of loan documents, and disbursement of funds.
* Assist MAP Underwriter in the development of underwriting practices and tools to respond to new types of underwriting issues as they arise.
* Develop relationships with CNYCN network partners and inform housing counselors and legal service providers about MAP eligibility guidelines and underwriting practices and priorities. Work with partners to identify possible candidates for MAP.
* Prepare analyses and reports on lending activity and the loan portfolio for presentation to stakeholders such as the CNYCN Board and NYC HPD.
* Contribute to ongoing policy research regarding the MAP fund and recommend best uses of loan funds to achieve program objectives as well as program improvements.
* Bachelor’s degree required; graduate degree in a related field a plus.
* Experience working in community development finance, mortgage lending/servicing, or government programs administration, with a focus on underwriting or application review. Experience with mortgage default intervention and loss mitigation preferred.
* High level of proficiency in Excel required.
* Experience with government grant/loan programs or community development lending/finance a plus.
* Strong verbal and written communication skills including strong presentation skills and ability to communicate with a wide variety of stakeholders (homeowners, bank/servicer representatives, housing counselors and legal services providers, and government representatives).
* Demonstrated ability to work independently and collaboratively; ability to set and meet deadlines and balance multiple projects simultaneously.
* High level of proficiency with Word, PowerPoint, Outlook, and other standard office tools required. Experience with Salesforce.com or other CRM system a plus.
$50,000 annually. Competitive benefits package.
How TO APPLY:
This is a full-time, temporary position. The expected duration of the engagement is approximately six months with the potential for an extension of the duration.
Please send a cover letter and resume to email@example.com. Please note “MAP Program Associate – Underwriting” in the subject line.