With a rapidly growing portfolio of multifamily loans, MHP is seeking an Underwriting Analyst who is excited to build experience across a variety of loan products offered at MHP as well as develop an understanding of complex commercial multifamily housing finance underwriting within a mission based organization. The underwriting analyst, under the supervision of the Director of Business Development, will provide underwriting and analytical support to loan officers, loan originators, and the Director of Capital and Program Development. This position will play a critical role in determining the feasibility of new taxable or tax exempt loan opportunities for properties involving new construction, substantial rehabilitation, or refinancing, including projects utilizing Low Income Housing Tax Credits and tax-exempt bonds.
The Massachusetts Housing Partnership (MHP), a non-profit public agency, is a national leader in affordable housing finance and a primary lender in Massachusetts for the financing of affordable and mixed-income rental housing. MHP has over $1.3 billion in credit lines from Massachusetts banks, is an approved Fannie Mae multifamily affordable housing lender, and an active FHA Risk-Sharing Program and MAP lender. MHP-financed properties include affordable and mixed-income developments for families, single-room occupancy housing, senior housing and assisted living, as well as properties serving special needs populations. MHP's borrowers range from small non-profit and for-profit developers to some of the largest and most sophisticated developers in the Northeast. At MHP we celebrate diversity and are committed to creating an inclusive environment for all employees.
Specific responsibilities will include, but are not limited to: preliminary underwriting to formulate recommendations regarding the sizing of prospective loans by analyzing property specific financial information utilizing MHP’s Excel-based underwriting model; conducting competitive market research by analyzing comparable rents; drafting letters of interest and term sheets to prospective borrowers; contributing to the final underwriting of loans for approval and commitment; developing strong working knowledge of MHP Loan Policy as well as Fannie Mae and HUD underwriting policies and procedures; providing analytical support to the Director of Capital and Program Development for policy and programmatic initiatives related to MHP’s financing programs; and performing other duties as assigned.
Salary is commensurate with experience. MHP provides a comprehensive benefits package including health, life, dental, and disability insurance, flexible spending accounts, professional development and educational assistance, paid time off, paid family leave, flexible work schedule and a fully vested employer-matched retirement plan. This is an excellent opportunity to work within a dedicated, creative, high-performing and passionate team.
MHP is located at 160 Federal Street in Boston. We are currently operating on a remote schedule and are discussing plans for a hybrid model of office-based and home-based work in the future.
If interested in joining our team, please visit our Careers page to submit a cover letter and resume: https://www.mhp.net/about-us/careers
Qualifications: The ideal candidate will have strong analytical skills with a high level of expertise using Microsoft Excel, at least 2-4 years’ work experience in real estate finance or a related field with a solid knowledge of multifamily real estate financial analysis, excellent organizational and communications skills, and a demonstrated ability to work both independently and collaboratively in a fast-paced, team-oriented environment. Applicants must have the ability to manage multiple projects and deadlines, excellent problem-solving skills, and a bachelor’s degree in real estate, finance, or a related field, or the equivalent experience. A working knowledge of affordable housing programs, experience in providing multifamily loan origination or underwriting support in a lending institution, familiarity with Fannie Mae and FHA multifamily lending platforms, and proficiency with Salesforce or comparable customer relationship management systems are preferred.
Massachusetts Housing Partnership (MHP) works with communities to create innovative policy and financing solutions that provide affordable homes and better lives for the people of Massachusetts. MHP is a statewide public non-profit organization that supports and finances affordable housing. It works in concert with the Governor, the Department of Housing and Community Development and the state's other quasi-public housing organizations.