Careers at MassHousing

Appraiser

Organization: MassHousing

Location: One Beacon Street, Boston, MA 02108

Posting Closes: Close of Business on May 17, 2024

Website: www.masshousing.com

MassHousing recently affirmed its longstanding commitment to diversity and inclusion in its 5-year Strategic Goals.

The Organization

MassHousing will confront the housing challenges facing the Commonwealth to improve the lives of its people. A bold mission for an innovative agency. Since its inception in 1966, MassHousing has provided more than $27.5 billion for more than 125,000 apartments and more than 105,000 home mortgage loans. Beyond lending, we also work to promote economic growth and empowerment for families, individuals, and businesses; help communities increase their housing stock; provide hope and homes for vulnerable populations, and look for new, cost-effective ways to provide equitable housing opportunities. We have a relentless determination to confront the Commonwealth's housing challenges and improve lives.

We know that we cannot meet our mission without a workforce that is committed to standing with us in our efforts. We achieve this by making investments in staff development and prioritizing individuals who align with our values including an unwavering dedication to diversity, equity, and inclusion.

As an employee of MassHousing you are offered a great career opportunity which is more than a paycheck. MassHousing’ s total compensation package features an outstanding set of employee benefits which you should consider towards your overall compensation, including but not limited to:

• Tuition reimbursement up to $10,000 per calendar year
• A 35-hour work week and a hybrid work schedule
• Back up Child/Elder Care
• Retirement Savings including a pension and a deferred compensation plan (with a match)
• Comprehensive health, dental and vision plans
• 12 paid Holidays per year and generous sick, vacation, and personal time
• Short-Term Disability
• Central Boston office location, convenient to public transportation and amenities on site

If you're ready to join our dynamic team of mission driven professionals, this might be the job for you! Interested candidates should send a letter of interest and a resume to MassHousing by logging in to https://prd01-hcm01.prd.mykronos.com/ta/6003873.careers?CareersSearch

Position Summary

The Appraiser is responsible for providing independent technical expertise for all multifamily loan applications, with a special focus development and preservation project applications, conducting site assessments, determining long-term project market and income feasibility, and developing value estimates required for sound project underwriting. The Appraiser plays a critical role in the credit decisions of MassHousing. This individual provides detailed financial and lease-up estimates and corresponding recommendations for loan security requirements. The Appraiser participates in monthly meetings with Directors and Senior Managers to discuss pipeline activity, assists in the structuring of deals within the context of general market conditions, as well as strategies for dealing with under- and non-performing assets. The Appraiser routinely works with originators and underwriter on deal specific matters, providing critical feedback on market rental, project feasibility and project lease-up/stabilization assumptions and identifying potential risks. This individual maintains data and reports on project marketing and rent-up, identifying and resolving outstanding marketing issues and problems.

Specific Duties and Responsibilities

• Prepares internal estimates of market value, provide market rent determinations, and conduct marketability analysis for all multifamily development projects being financed with MassHousing.
• Provides essential risk management contributions to the Agency’s underwriting process by reviewing, evaluating and approving all third-party multifamily fee appraisals based on the data and analysis presented in conformance with Uniform Standards of Professional Appraisal Practice (USPAP).
• Ensures compliance with the regulatory requirements and lending standards of MassHousing which are critical to the Agency’s third-party credit ratings with S&P, Fitch, and other rating agencies.
• Ensures compliance with the regulatory requirements and lending standards of all MassHousing capital sources in effect from time-to-time including:
  • U.S. Department of Housing & Urban Development (HUD), which is essential to the Agency's status as a Risk Share lender;
  • The Commonwealth of Massachusetts Executive Office of Housing and Livable Communities (EOHLC);
  • Federal Financing Bank (FFB); and
  • American Federation of Labor and Congress of Industrial Organizations (AFL-CIO) Housing Investment Trust (HIT).
• Qualifies and retains independent appraisal and marketing contract professionals, preparing RFQ’s, negotiating contracts, and reviewing and approving all outside vendor appraisals and market studies.
• Provides rental analyses and recommendations on existing MassHousing portfolio developments in connection with HUD Section 8 contract renewals and rent increase requests.
• Provides essential data and analysis to the Finance group in support of the critical determination of the Agency’s loan loss reserves.
• Prepares internal estimates of market value, provide market rent determinations, and conduct marketability analysis for under- and non-performing assets, and facilitate outside vendor appraisals and market studies.
• Performs other appraisal-related duties, as required.

Knowledge, Skills and Abilities Required

• Must be well-versed in all appraisal methodologies.
• Detailed understanding of the multiple derivations of market capitalization rates.
• Demonstrated ability to gauge the impact of specified construction/property improvements on future rental levels.
• Must have broad knowledge of government and private financing programs, including State and Federal insurance and subsidy programs.
• Must be HUD approved to perform all HUD appraisal, rent comparability and review functions. Including working knowledge HUD Section 8 Renewal Policy Guidebook (Chapter Nine – Rent Comparability Studies).
• Must be able to perform and/or review market feasibility studies and demographic analysis.
• Excellent written, oral and computer skills required.
• Ability to work effectively and independently with little or no supervision.

Minimum Education and Training

• Bachelor's Degree with Master's Degree or equivalent work experience preferred.
• Five to seven years of substantial, responsible, practical experience in real estate appraisal, market studies and financing of medium-to-large scale real estate proposals.
• Must hold a current Massachusetts State License as a State Certified General Real Estate Appraiser.
• Must be certified and trained in USPAP requirements, including the Competency Rule set forth therein.
• Must meet all HUD qualifications, including requirements set forth in section 7.3 of the MAP Guide, to sign and review appraisal reports.
• Preference for applicants holding or actively pursuing an MAI or AI-GRS designation with the Appraisal Institute (AI).

Salary Range: $101,287 - $131,673

All positions at MassHousing require a customer service mindset, in accordance with our values: Integrity, Excellence, Collaboration, Respect, Accountability and Service. Inherent in these values is our commitment to diversity, equity, and inclusion for all.

MassHousing is an Equal Opportunity Employer

Design & Construction Risk Engineer

Organization: MassHousing

Location: One Beacon Street, Boston, MA 02108

Posting Closes: Close of Business on May 17, 2024

Website: www.masshousing.com

MassHousing recently affirmed its longstanding commitment to diversity and inclusion in its 5-year Strategic Goals.

The Organization

MassHousing will confront the housing challenges facing the Commonwealth to improve the lives of its people. A bold mission for an innovative agency. Since its inception in 1966, MassHousing has provided more than $27.5 billion for more than 125,000 apartments and more than 105,000 home mortgage loans. Beyond lending, we also work to promote economic growth and empowerment for families, individuals, and businesses; help communities increase their housing stock; provide hope and homes for vulnerable populations, and look for new, cost-effective ways to provide equitable housing opportunities. We have a relentless determination to confront the Commonwealth's housing challenges and improve lives.

We know that we cannot meet our mission without a workforce that is committed to standing with us in our efforts. We achieve this by making investments in staff development and prioritizing individuals who align with our values including an unwavering dedication to diversity, equity, and inclusion.

As an employee of MassHousing you are offered a great career opportunity which is more than a paycheck. MassHousing’ s total compensation package features an outstanding set of employee benefits which you should consider towards your overall compensation, including but not limited to:

• Tuition reimbursement up to $10,000 per calendar year
• A 35-hour work week and a hybrid work schedule
• Back up Child/Elder Care
• Retirement Savings including a pension and a deferred compensation plan (with a match)
• Comprehensive health, dental and vision plans
• 12 paid Holidays per year and generous sick, vacation, and personal time
• Short-Term Disability
• Central Boston office location, convenient to public transportation and amenities on site

If you're ready to join our dynamic team of mission driven professionals, this might be the job for you! Interested candidates should send a letter of interest and a resume to MassHousing by logging in to https://prd01-hcm01.prd.mykronos.com/ta/6003873.careers?CareersSearch

Position Summary

The Design and Construction Risk Engineer is responsible for evaluating and commenting on construction-related proposals during the preconstruction phase, as well as providing high-level oversight of multifamily projects during construction. The Design and Construction Risk Engineer is a subject matter expert in the field of Construction Management tasked with performing complex project management during loan origination and underwriting, as well as during the construction phase. The Design and Construction Risk Engineer provides input into management objectives by making decisions and rendering informed opinions on construction-related proposals. The Design and Construction Risk Engineer is responsible for performing detailed review of architectural plans and specifications, commenting on the suitability, performance, and quality of design, evaluating cost and performing independent cost estimating, and reviewing the overall project focusing on all factors that affect cost, including materials, labor, location, duration of the project and any special conditions or requirements. The Design and Construction Risk Engineer provides technical expertise on construction contracts and any contract exhibits, reviews environmental recommendations and requirements, and is responsible for closure on the resolution of any environmental matters in accordance with contractual and regulatory requirements. The Design and Construction Risk Engineer reviews the capacity of the members of the development team, reviews and provides comments on the qualifications and assumptions of proposed construction contracts and other associated documents for conformance to industry standards, and coordinates with the underwriting team throughout the underwriting process and closing. During the construction phase, the Design and Construction Risk Engineer provides high-level oversight to ensure enforcement of construction contracts and construction loan agreements by reviewing and approving requisitions for payment consistent with estimated costs and authorizing the closeout and final release at contract completion. The Design and Construction Risk Engineer is responsible for determining the acceptability of all construction-related activities, including acceptability for resolution of environmental matters (including remediation activities) in accordance with contractual and regulatory requirements, identifies issues/concerns throughout project construction and facilitates timely resolution.

Specific Duties and Responsibilities

• Evaluates and comments on construction-related proposals and provides technical guidance during the loan origination and loan underwriting phases.
• Reviews architectural plans and specifications (commenting on the suitability and quality of design as it relates to energy and environmental performance, as well as other factors), construction contracts (including technical review of qualifications and assumptions contained therein), capacity of development team and other diligence materials related to construction.
• Evaluates cost proposals for alignment with comparable projects and accounting for special conditions that may contribute to extraordinary costs.
• Analyzes third-party engineering reports, including environmental site assessments, and coordinates administrative reviews in compliance with various statutory and regulatory requirements, including the National Environmental Policy Act (NEPA) and Massachusetts Department of Environmental Protection (Mass DEP).
• Oversees the administration and management of construction projects; reviewing project scope, design/construction and environmental documentation, and requisition activities.
• Periodically makes inspection of projects that are in construction; participates in virtual and on-site meetings and walk-throughs as appropriate to the stage of construction.
• Performs other duties of a similar level and nature as assigned.

Knowledge, Skills and Abilities Required

• Knowledge of structural and mechanical systems and building components.
• Familiarity with multi-family housing preferred.
• Familiarity with the Commonwealth’s 2050 climate goals for the building sector through innovative and impactful mechanical systems and building components linked to energy and environmental performance, as well as experience in design and/or construction practices related to decarbonization and sustainability preferred.
• Experience with resolving reviewing and resolving environmental matters preferred.
• The ability to communicate clearly and professionally with all levels of MHFA staff and a wide range of professionals outside of the agency is necessary.

Minimum Education and Training

• Bachelor's degree in engineering, architecture, construction management or related field or the equivalent work experience to successfully perform the essential duties of the job.
• Five years of professional experience dealing with construction project management, building analytics and/or design and engineering review.

Salary Range: $101,287 - $131,673

All positions at MassHousing require a customer service mindset, in accordance with our values: Integrity, Excellence, Collaboration, Respect, Accountability and Service. Inherent in these values is our commitment to diversity, equity, and inclusion for all.

MassHousing is an Equal Opportunity Employer

Relationship Manager - Non-Profit

Organization: MassHousing

Location: One Beacon Street, Boston, MA 02108

Posting Closes: Close of Business on June 7, 2024

Website: www.masshousing.com

MassHousing recently affirmed its longstanding commitment to diversity and inclusion in its 5-year Strategic Goals.

The Organization

MassHousing will confront the housing challenges facing the Commonwealth to improve the lives of its people. A bold mission for an innovative agency. Since its inception in 1966, MassHousing has provided more than $27.5 billion for more than 125,000 apartments and more than 105,000 home mortgage loans. Beyond lending, we also work to promote economic growth and empowerment for families, individuals, and businesses; help communities increase their housing stock; provide hope and homes for vulnerable populations, and look for new, cost-effective ways to provide equitable housing opportunities. We have a relentless determination to confront the Commonwealth's housing challenges and improve lives.

We know that we cannot meet our mission without a workforce that is committed to standing with us in our efforts. We achieve this by making investments in staff development and prioritizing individuals who align with our values including an unwavering dedication to diversity, equity, and inclusion. 

As an employee of MassHousing you are offered a great career opportunity which is more than a paycheck. MassHousing's total compensation package features an outstanding set of employee benefits which you should consider towards your overall compensation, including but not limited to:

• Tuition reimbursement up to $10,000 per calendar year
• A 35-hour work week and a hybrid work schedule
• Back up Child/Elder Care
• Retirement Savings including a pension and a deferred compensation plan (with a match)
• Comprehensive health, dental and vision plans
• 12 paid Holidays per year and generous sick, vacation, and personal time
• Short-Term Disability
• Central Boston office location, convenient to public transportation and amenities on site

If you're ready to join our dynamic team of mission driven professionals, this might be the job for you! Interested candidates should send a letter of interest and a resume to MassHousing by logging in to https://prd01-hcm01.prd.mykronos.com/ta/6003873.careers?CareersSearch

Position Summary

Under the direct supervision of the Senior Relationship Manager (SRM), the Relationship Manager Non-Profit (RMNP) will promote MassHousing Homeownership products, services and programs to customers, statewide non-profit and community-based organizations (CBO’s). This role requires a keen focus on promoting activities that impact consumer education and the customer experience, with the objective of increasing first mortgage loan production and sustaining customer satisfaction. The RMNP works with non-profit agency partners and community leaders to identify credit and service needs across the Commonwealth. Through personal sales calls, email and telephone contacts, the RMNP will use a consultative selling approach to improve customer satisfaction through an enhanced knowledge of MassHousing products and services. The Relationship Manager Non-Profit role requires a minimum of 50% travel.

Specific Duties and Responsibilities

The duties of the Relationship Manager include the following:

• Oversee the account management of relationships with realtors, non-profit organizations, municipal government leadership, civic organizations, community leaders, and trade associations, as well as other individual professionals and groups involved with home sales and mortgage lending.
• Provide presentations on homeownership, financial literacy and financial capability.
• Represent the Agency at local CRA-related functions during and outside working hours to identify potential opportunities, raise the profile of MassHousing and develop and expand related relationships.
• Interact with public and private community leaders to assess community needs specific to the low-to-moderate income population and/or develop programming to address these needs.
• Under the direction of the Senior RM, develop and maintain strategic account call plans for non-profit partners and identify opportunities for new business relationships.
• Update and maintain metrics reports on all non-profit activities throughout the Commonwealth.
• As directed by the Senior RM, establish priorities with activities such as in-person and virtual sales calls, educational training sessions, and technical assistance to the Agency’s Home Ownership Lending business partners.
• Analyze the territory/market’s potential and determine the value of existing and prospective customer value to the organization. Regularly communicate with the SRM to explore, develop and maintain new business relationships.

Sales and Customer Service

• Participate/represent MassHousing regularly at external events (homebuyer classes, trade association meetings, conventions).
• Develop a deep and thorough understanding of the non-profit partner homeownership initiatives and strategies to develop and integrate a proactive approach to optimizing the value of the relationship to both MassHousing and the customer.
• Plan and organize personal call plan strategy by maximizing the return on time investment for the territory/segment.
• Establish, develop and maintain business relationships with current non-profit partners, CBO’s and prospective customers in the assigned territory/market segment to generate new relationships for outreach of MassHousing’s products/services.
• Manage assigned relationships with realtors, non-profits and trade associations as well as other individual professional and groups involved with home sales and mortgage lending.
• Coordinate sales effort with marketing, sales management, accounting, logistics and technical service groups.
• Work very closely with and interact effectively with: HomeOwnership Production, Operations & Servicing, Mortgage Insurance, Corporate Communications and other internal departments.
• Effectively utilize all Homeownership data and reports for providing high level of service to our partners.
• The position represents MassHousing Homeownership across the Commonwealth and represents the commitment to the community.

Knowledge, Skills and Abilities Required

Exceptional critical thinking and problem-solving skills.

• Demonstrate sound judgment.
• Anticipate problems and opportunities.
• Identify and assess risk.
• Explore options and develop solutions.

Strong work ethic and the ability to work independently with minimal supervision, and as a member of a team.

• Respond to needs of internal and external customers.
• Demonstrate meticulous attention to detail.
• Accountable to customers and key stakeholders.
• Collaborate with co-workers and business partners.
• Resolve conflicts effectively.
• Assume additional responsibility when needed.

Strong interpersonal and communication skills.

• Share meaningful information.
• Exercise discretion when sharing information.
• Prepare written materials that are clear and accurate.
• Articulate an idea or a point of view effectively.
• Demonstrate effective presentation skills.
• Represent the Agency effectively.

Effective time management and project management skills.

• Take a proactive approach to tasks.
• Focus on performance objectives.
• Prioritize competing demands appropriately.
• Produce quality work product.
• Follow-through to conclusion.
• Take responsibility for completing projects in a timely manner.
• Move decision-making to the appropriate level to achieve results.

Minimum Education and Training

• Bachelor's degree from an accredited university or college.
• A minimum of 5-7 years’ proven CRA community development, customer-facing banking and/or non-profit experience.
• Experience with the community development non-profits, either through direct work experience or other volunteer participation.
• Bi-lingual or multilingual preferred.
• Experience with interactions among the government and community development non-profit organizations.
• Customer relationship management (Salesforce.com or other) experience.
• Relationship management meeting facilitation experience required.
• Knowledge of all aspects of mortgage origination process including pricing, underwriting, closing, and compliance.
• Presentation and public speaking skills are required.
• Analytical and problem-solving skills are required.
• Proficiency with Word, Excel, and PowerPoint.
• Reliable, organized and consistent.
• Willing to update product knowledge on an ongoing basis.
• Strong written and verbal communication skills.

Salary Range: $101,287 to $131,673

All positions at MassHousing require a customer service mindset, in accordance with our values: Integrity, Excellence, Collaboration, Respect, Accountability and Service. Inherent in these values is our commitment to diversity, equity, and inclusion for all.

MassHousing is an Equal Opportunity Employer