Primary Purpose of Position: Financial underwriting and production of affordable multifamily rental housing through MaineHousing programs.

Core Functions:

Multifamily and Supporting Housing real estate underwriting

o Determine project feasibility and ensure compliance with programmatic requirements

o Evaluate appropriateness of funding sources and uses 

o Evaluate risk of operating budgets, rent structure, and income

o Create, review, and update complex project development pro formas 

o Assign financial resources based upon project requirements and program restraints

o Have understanding of non-MaineHousing financing sources

o Determine owner entity, principals, and affiliates’ eligibility and ability to effectively manage, finance, and operate projects by ordering and analyzing organizational documents, credit reports, financial statements, and other documentation 

Member of the development underwriting team

Provide education and technical expertise to external partners 

Order and review third party reports such as market studies, appraisals, Phase I ESAs, and capital needs assessments as needed

Determine compliance with state and federal regulations and requirements

Prepare and present complex project summaries and recommendations

Participate in program design, review, and continuous improvement activities

Assist with scoring of applications for competitive funding rounds

Other duties as assigned

Education, experience, and training, in any combination, relating to real estate development, lending, financial analysis, budgeting, or accounting.

Certifications:  Must have previously completed or be willing to complete within two years (at MaineHousing’s expense), the Rental Housing Development Finance Professional Certification Program™ with the National Development Council. 

Skills and Knowledge: 

· Strong project management, time management, and organizational skills

· Strong PC skills using various software – MSOffice Suite (especially Word and Excel), ShareFile/SharePoint, Windows, internet browsers

· Strong financial analysis skills

· Ability to establish and maintain good working relationships with business partners

· Excellent communication skills – speaking, writing, and listening via phone, email, and in-person meetings

· Ability to communicate effectively in front of groups

· Ability to take initiative, work independently, and use creativity and analytical skills to resolve complex issues among multiple parties

· Knowledge of tax credits preferred (specifically the Low Income Housing Tax Credit (LIHTC) program)

· Familiarity with HUD (HTF, HOME, CMF), USDA (Rural Development), and Federal Home Loan Bank (AHP) housing programs preferred