The Lending Analyst will work to advance the development of single family and/or multifamily housing projects, with a strong focus on affordable housing in the City of Pittsburgh. The Lending Analyst will be responsible for discussing clients’ need, recommending the best loan products, helping clients submit a complete loan application, underwriting the loan request, executing the loan closing, and disbursing funds.
This position requires excellent communication, analytical and problem-solving skills. A successful candidate should be familiar with single family and/or multifamily programs available to developers by the URA, local banks, non-profit organizations, the U.S Department of Housing and Urban Development (HUD), Pennsylvania Housing Finance Agency (PHFA), and other federal, state and local sources. The individual should also have a passion for public service and a desire to improve communities.
Job Title: Lending Analyst
Department: Residential & Consumer Lending
Divisional Unit: Lending and Investments
Pay Grade: 6
Reports to: Manager of Residential Lending
Full-time / Exempt
Essential Functions and Responsibilities:
- Manage assigned single family and multifamily developments
- Maintain an active knowledge base of all the URA’s financing products and an understanding of the qualifications required
- Review and analyze applications for financing with regard to the eligibility and the financial feasibility (including proformas, revenues, operating expenses, and financing) of the development, and the capability of the development team
- Schedule, coordinate, and analyze examinations made by the URA’s technical staff of the project site, plans, and specifications and construction costs to support an acceptance or rejection of proposals
- Assist development clients with the understanding of and compliance with public requirements and approvals
- Assist development clients in securing financing, including Low Income Housing Tax Credits and other affordable housing funding sources
- Coordinate project team meetings with development team, URA technical staff and other parties as necessary to further development progress
- Assist development clients with preparation of and compliance with Minority and Women’s Business Enterprise (M/WBE) plans as required
- Assemble and present completed financing proposals, including visual materials, to the URA’s Real Estate Loan Review and Housing Opportunity Fund (HOF) Advisory Committees
- Review closing documents for accuracy, completeness and conformity to URA and department policies, guidelines and regulations; coordinate and conduct loan closings.
- Coordinate with developer, bond counsel, underwriter, and financial advisor for the scheduling, marketing and closing of multifamily bond issues.
- Maintain and organize project files in accordance with established procedures
- Enter project information into Salesforce and Portfol (or futures programs utilized for loan origination/servicing, check requests and project management) systems as required
- Maintain and manage development budgets and process stage payments for construction and soft costs; Reconcile all project sales proceeds
- Review and evaluate all items related to project construction and correspond with URA Engineering & Construction Department from initial review of plans, specifications and costs through final build-out and sale of project, including all change orders
- Produce and analyze housing development budgets and proformas
- Work with various federal, state, and local agencies and lenders to coordinate project financing
- Represent the URA at banking, finance, development and other conferences, seminars, etc., as required by department needs or interests
- Participate with other URA staff, the Department of City Planning and/or other stakeholders in the preparation of Request(s) for Qualifications (RFQ), Request(s) for Proposals (RFP) for development sites, financing and/or professional services and the review and analysis of submitted responses
- Perform other duties as assigned.
- Master’s Degree in Business Administration, Public Administration, Planning, Finance, Business Administration, or a related field, plus at least two (2) years related experience; or a Bachelor’s Degree and training in housing finance and development, plus at least four (4) years related experience.
- A different combination of education and work experience will be considered
- Demonstrated ability to establish and maintain excellent working relationships with co-workers, individuals, agencies, private and public lending institutions, and community organizations is required.
- Excellent verbal and written skills are required.
- Mature judgment with an ability to support and explain reasoning for decisions is required.
- Ability to think creatively and problem solve while staying within guidelines is required.
- Customer service skills are required.
- Knowledge of Microsoft Word, Excel, and PowerPoint is required.
- Knowledge of housing development and financing.
- Experience with real estate transactions and evaluations.
- Knowledge of regulatory issues in both underwriting/finance and real estate.
- Knowledge of Microsoft Access and Salesforce is desired but not required.
Promoting Equity, Diversity, and Inclusion
- Ability to safely and successfully perform the essential job functions consistent with the ADA
- Must be able to lift and carry up to 20 lbs., standing, sitting, reaching and stretching
- Must be able to talk, listen and speak clearly on telephone
The URA is an equal opportunity affirmative action employer. All qualified applicants will receive consideration without regard to race, religion, color, gender, age, national origin, ancestry, disability, sexual origination, political, and/or union affiliation.
AN APPLICANT MUST BE A CITY OF PITTSBURGH RESIDENT, OR BECOME ONE AS A CONDITION OF EMPLOYMENT AT THE URA.