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Loan Closing Manager

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Published 11 days ago

ABOUT THE HOUSING PARTNERSHIP NETWORK

The Housing Partnership Network has been an Aeris-rated 4-star, AA organization since 2005 and operates its lending activity through two community development financial institutions (CDFIs): the Housing Partnership Network (HPN) and the Housing Partnership Fund (HPF). HPN created HPF in 2001 as its lending arm to meet its members’ growing need for flexible, early stage financing for affordable housing development. Today, HPN/HPF provides capital to both its members and social enterprises. This includes unsecured enterprise-level, secured project-level and bridge financing for affordable multifamily, single family and community development projects as well NMTC allocation for single-family homeownership initiatives. Additionally, it offers lines of credit and equity investments for housing-focused social enterprises. 

 

OUR COMMITMENT TO DIVERSITY AND EQUITY

HPN is committed to creating a diverse and equitable environment and is proud to be an equal opportunity employer. HPN recruits, employs, trains, compensates, and promotes regardless of race, color, religion, gender, gender identity or expression, sexual orientation, national origin, genetics, disability, age, veteran status and other protected status. We believe that the more inclusive we are, the better our work will be. We aspire to build a diverse team, one that better reflects the people and communities we serve. Applicants who contribute to this diversity are strongly encouraged to apply.

 

WE VALUE

Racial Equity -We are committed to diversity, equity and inclusion at HPN, and helping members advance initiatives that dismantle long-standing systemic racial biases and discrimination to achieve economic and social justice.

Collaboration - We are a true network. We believe in the power and benefits of broad engagement, empowerment and collaboration.

Connection - We actively build relationships that connect people, ideas, and organizations to forge new paths for improving communities.

Inclusion - We recognize our power comes from the collective and cooperative nature of our work, based on an environment that is inclusive of diverse experiences, backgrounds and perspectives.

Respect - We are open, honest, and respectful in all of our interactions which strengthens our relationships, our mission, our work with colleagues and members, and ultimately the lives of the people we all serve.

Transformation - We work with our members to transform our industry by creating systemic solutions to help people who live in our communities to thrive.

 

ABOUT THE ROLE

The Loan Closing Manager (Senior Associate) is pivotal to the success of our growing loan fund and will report to the President of HPF. They are responsible for ensuring the accuracy of loan documentation and managing the closing process from commitment letter to post-closing memo. In addition, they are responsible for managing legal documentation of incoming investments as well as corporate-level documentation for consolidated and off-balance sheet funds. This role requires strong attention to detail and knowledge of real estate and nonprofit enterprise-level loan documentation.

 

MAJOR DUTIES AND RESPONSIBILITIES

 

LOAN DOCUMENTATION AND CLOSING (70%)

·      Manages full closing process of affordable housing loan transactions (both enterprise-level loans to developers and real estate project loans) - including commitment letter, closing check list, closing due diligence, loan documentation, and post-closing memo. Coordinates with outside counsel and tracks workflow progress in Salesforce.

·      Serves as primary point of contact for borrower through loan closings and disbursement requests.

·      Coordinates with originations team to ensure that business terms of credit are properly reflected in the loan documentation. Involves Director of Lending in any business term issues that arise in closing process.

·      Drafts commitment letters and coordinates drafting of loan documents with outside legal counsel, and review by other staff, borrower, and borrower counsel.

·      Communicates with Portfolio Management team to ensure asset management and servicing aspects of each loan are properly considered and reflected in documentation.

·      Coordinates the loan closing and funding process with HPN Finance team.

·      Reviews title reports and, for project-based lending, environmental reports, property condition reports, insurance and other relevant documents, ensuring compliance with loan closing requirements and loan policies.

·      Coordinates with Portfolio Management Director on disbursing draw requests.

·      Ensures accurate, well-organized electronic loan files through loan closing and disbursement, maintaining an audit trail of all closing documents and materials.

 

INVESTOR LOANS AND CDFI FUND KNOWLEDGE (15%)

 

•    Manages closing process of investor loans, typically CRA-motivated debt investments from banks, tracking workflow progress in Salesforce.

·      Post-closing, coordinates with Finance department and Director of Portfolio management around reporting requirements of new investments.

·      Understand compliance guidelines around investments and grant programs like Capital Magnet Fund and how those requirements need to be incorporated into end loan documentation.

 

DOCUMENTATION AND MAINTENANCE OF CONSOLIDATED AND OFF-BALANCE SHEET ENTITIES (10%) 

HPF currently manages one off-balance sheet fund with several other funds in active capital raise. This position will:

 

•    Manage legal entity documentation for existing and new fund entities.

•    Manage documentation of investments coming into and going out of HPF-managed funds, in a similar fashion as to what is described above for HPF affordable housing and investor loans.

 

OTHER SUPPORT (5%) 

 

•    Work across HPF/Lending and Finance teams to assist with reporting and documentation for HPF Board and other internal and external stakeholders.

·      Support HPF board governance processes, as needed (e.g. draft resolutions, minutes, annual filings, etc.)

•    Keep up to date policies and procedures around the closing process.

 


QUALIFICATIONS

  • Bachelor’s Degree
  • 5+ years of professional experience in a loan closing/administration role documenting business and/or real estate project loans, specifically affordable housing, and/or CDFI loans. 
  • Ability to understand and interpret loan documents; to understand deal structures and how to adapt form documents for customized transactions; to advocate for terms that clearly support credit contingencies and feed into operational processes
  • High attention to detail and strong critical thinking skills
  • Deadline driven, ability to manage time and multiple demands to accomplish objectives
  • Experience/exposure to portfolio management and loan servicing is a plus
  • Strong written and oral communication skills
  • Ability to manage relationships with borrowers using a customer-oriented approach.
  • Ability to manage relationships with external legal counsel
  • Proficiency with Microsoft Word and Excel
  • Familiar with Salesforce and Nortridge Loan Software a plus
  • Commitment to social justice and HPN’s mission
  • Real estate paralegal experience a plus


 

OTHER

·      This position is, preferably, based in Boston but remote locations will be considered.

·      Minimal travel is required (subject to COVID-19 restrictions)


TO APPLY

Please submit cover letter and resume 

ABOUT THE HOUSING PARTNERSHIP NETWORK

The Housing Partnership Network has been an Aeris-rated 4-star, AA organization since 2005 and operates its lending activity through two community development financial institutions (CDFIs): the…

Details at a Glance

  • Time Commitment
    Full Time Schedule
  • Education
    4-Year Degree Required
  • Professional Level
    Professional

Location

Temporarily Remote
Work must be performed in or near Boston, MA
Associated Location
Boston, MA, USA

How to Apply

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