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

Manager of Rental Underwriting

Organization: MassHousing

Location: One Beacon Street, Boston, MA 02108

Posting Closes: Close of Business on May 15, 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 Manager of Rental Underwriting is primarily responsible for the direct supervision of a small group of junior and senior team members including Senior Rental Underwriters (SRU), Rental Underwriters (RU), Associate Underwriters and/or Underwriting Analysts engaged in the underwriting and closing of multifamily affordable housing financing proposals involving taxable or tax-exempt bond financing.  Taxable transactions typically involve “preservation” (FFB/Treasury) or HUD MAP re-financings and may include financings utilizing 9% Low Income Housing Tax Credits (LIHTCs) as well as other loan products. Tax-exempt transactions typically involve new construction; substantial rehabilitation utilizing 4% LIHTCs and other debt, equity products.

As a senior member of the Rental Underwriting team, the Manager of Rental Underwriting is called upon to take a leadership role in project and program development, leading deal teams of internal stakeholders on complex rental transactions.

This position has been designated as "Flex" under MassHousing’s Alternative Work Schedule (AWS)-hybrid work model. However, during the first 90 days, the employee may be expected in the office more frequently for training and onboarding.

Specific Duties and Responsibilities

• Underwrites, closes, and manages their own portfolio of rental loans through completion before the hand off to asset management.
• Provides guidance to Origination and Borrowers during prescreen by identifying early in the process potential issues including deal structuring, loan sizing, appraisal concerns, design and environmental reviews.
• Approves due diligence by working directly with the assigned Appraiser and Architect to order third-party reports, while coordinating the underwriting and underwriting inputs from other MassHousing staff, including, but not limited to, Originators, Appraisers, Architects, Design and Technical, Portfolio and Asset Managers, Mortgage Credit and Capital Finance, Diversity & Inclusion and Attorneys.
• Works closely with the Director of Rental Underwriting to ensure that underwriting issues are identified and addressed, and that loans are processed in accordance with prudent loan standards and applicable MassHousing and HUD/FHA regulations, guidelines, and policies.
• Communicates all findings to the Originator, assists in preparing the Board Proposal and is responsible for preparing the Commitment Letter. After commitment, prepares applications to HUD for applicable credit enhancement documentation and assists legal coordinating the closing of the loan by taking the lead to review and approve business due diligence. This includes leading the communication with the Borrower and internal MassHousing deal team staff.
• Provides technical expertise as assigned to evaluate existing programs and underwriting practices, the development of new multifamily business initiatives, and multifamily lending policies and procedures.
• Manages and mentors a small team of direct reports.
• Leads underwriting related cross functional teams, as assigned, such as bond issuance planning, pipeline planning, Joint Venture programmatic relationships.
• Performs other duties and responsibilities as assigned and reports directly to the Director of Rental Underwriting.

Knowledge, Skills and Abilities Required

• Exceptional critical thinking, leadership, strategic thinking, negotiation, curiosity, problem-solving and effective time management skills.
• In-depth knowledge of affordable multifamily housing, underwriting and loan closing diligence.
• Ability to work both collaboratively and independently.
• Excellent organizational, written, and oral communication skills.
• Sound judgement, ability to anticipate problems and opportunities, identify, assess, and take steps to mitigate risk, explore options and develop solutions.
• Ability to respond to needs of internal and external customers and key stakeholders, collaborate with co-workers and business partners, resolve conflicts effectively, and assume additional responsibility when needed.

Minimum Education and Training

• Bachelor's Degree or equivalent work experience required. Advanced degrees in Finance, Real Estate Management, Business Administration, or related field preferred.
• At least ten years of professional real estate experience and significant experience with government and private financing programs for affordable housing.
• Must have broad knowledge of government and private financing programs, including federal insurance, tax credits and affordable housing programs.
• Prior supervisory experience preferred.
• Excellent written and oral communication skills required.

Salary Range: $114,710 - $149,123

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

Originator (Multifamily)

Organization:  MassHousing

Location:  One Beacon Street, Boston, MA  02108

Posting Closes:  Close of Business on April 29, 2024

Website:  https://www.masshousing.com

MassHousing recently affirmed its longstanding commitment to diversity and inclusion in its 5-year Strategic Goals, see https://www.masshousing.com/-/media/Files/Corporate/MH-5yr-Strategic-Business-Goals.ashx.

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 provideequitable 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 Originator (Multifamily) is responsible for originating multifamily debt financing opportunities for the Agency.  They conduct outreach that complements and expands current business development efforts and utilizes prior relationships and contacts developed during previous job experiences. In addition, the Originator maintains and nurtures relationships with a portfolio of existing borrowers.

Working with others in Rental Business Development, Rental Underwriting and Asset Management, the Originator structures transactions that meet the needs of the borrower and reflect MassHousing underwriting standards. They remain current about changes in the housing, community development and multifamily lending industries and participate in external events to promote MassHousing’s role in affordable housing throughout the Commonwealth.

Specific Duties and Responsibilities

• Market MassHousing’s multifamily loan products to both existing and potential borrowers.

• Develop and maintain relationships with those existing and potential borrowers and serve as the primary point of contact as they develop their transaction pipelines.

• With the assistance of Origination Analysts, source, pre-screen, analyze and structure potential loans. Develop and present Term Sheets on debt offerings to borrowers. Serve as the primary contact with borrowers throughout the loan origination process. 

• Work collaboratively with the Rental Underwriting, Legal and Rental Management divisions during the underwriting and closing process. Present transactions to the MassHousing Board and Subcommittees of the Board for approval.

• Monitor borrowers’ MassHousing loan portfolios and pro-actively initiate discussions regarding refinancing opportunities.

• Perform special assignments and other duties as requested.

Knowledge, Skills and Abilities Required

• Knowledge of real estate finance fundamentals and financial analysis principles.   

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

• Strong interpersonal and written and oral communication skills.

• Excellent organizational and analytical skills with a high-level of attention to detail.

• Ability to multi-task and manage a high-volume workload accurately and effectively.

Minimum Education and Training

• Bachelor's Degree or equivalent work experience required.  Advanced degrees in Finance, Real Estate Management, Business Administration, or related field preferred.

• Five to seven years of substantive experience in real estate finance and/or real estate.

• Knowledge of tax credit equity, government, and private lending platforms, including credit enhancement and rental subsidy programs preferred.

• Demonstrated history of academic success and professional development.

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

Senior Relationship Manager (Multifamily)

Organization:  MassHousing

Location:  One Beacon Street, Boston, MA  02108

Posting Closes:  Close of Business on April 29, 2024

Website:  https://www.masshousing.com

MassHousing recently affirmed its longstanding commitment to diversity and inclusion in its 5-year Strategic Goals, see https://www.masshousing.com/-/media/Files/Corporate/MH-5yr-Strategic-Business-Goals.ashx.

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 Senior Relationship Manager (Multifamily) is responsible for management of borrower relationships as well as supervision of a small team in originating multifamily debt financing opportunities for the Agency. They will conduct outreach that complements and expands current business development efforts and utilizes prior relationships and contacts developed during previous job experiences. In addition, they will maintain and nurture relationships with a portfolio of existing borrowers. 

As a senior member of the Rental Business Development team, the Senior Relationship Manager (Multifamily) is called upon to take a leadership role in project and program development and management, leading teams of internal stakeholders on complex rental transactions. Additionally, the Senior Relationship Manager (Multifamily) will manage a small group of junior team members including Originators and Origination Analysts.

Working with others in Rental Business Development, Rental Underwriting, Rental Management and Legal, the Senior Relationship Manager (Multifamily) will structure transactions that meet the needs of the borrower and reflect MassHousing underwriting standards. They will remain current about changes in the housing, community development and multifamily lending industries and will participate in external events to promote MassHousing’s role in affordable housing throughout the Commonwealth.

Specific Duties and Responsibilities

• Market MassHousing’s multifamily loan products to both existing and potential borrowers.
• Management of staff including but not limited to project oversight, workload management, staff development and annual performance reviews with scheduled one-on-one meetings throughout the year.
• Develop and maintain relationships with those existing and potential borrowers and serve as the primary point of contact as they develop their transaction pipelines.
• With the assistance of Origination Analysts, source, pre-screen, analyze and structure potential loans. Develop and present Term Sheets on debt offerings to borrowers. Serve as the primary contact with borrowers throughout the loan origination process. 
• Work collaboratively with the Rental Underwriting, Rental Management and Legal divisions during the underwriting and closing process. Present transactions to the MassHousing Board and Subcommittees of the Board for approval.
• Monitor borrowers’ MassHousing loan portfolios and pro-actively initiate discussions regarding refinancing opportunities.
• Coordinate and support new product initiatives.
• Perform special assignments and other duties as requested.

Knowledge, Skills and Abilities Required

• Knowledge of real estate finance fundamentals and financial analysis principles.   
• Strong work ethic and the ability to work independently with minimal supervision, and as a member of a team.
• Strong interpersonal, written, and oral communication skills.
• Excellent organizational and analytical skills with a high-level of attention to detail.
• Ability to multi-task while managing a high-volume workload accurately and effectively.

Minimum Education and Training

• Bachelor's Degree or equivalent work experience required.  Advanced degrees in Finance, Real Estate Management, Business Administration, or related field preferred.
• Ten years of substantive experience in real estate finance and/or real estate.
• Knowledge of tax credit equity, government and private lending platforms, including credit enhancement and rental subsidy programs preferred.
• Demonstrated history of academic success and professional development.

Salary Range:  $114,710 - $149,123  

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

Senior Rental Underwriter

Organization: MassHousing

Location: One Beacon Street, Boston, MA 02108

Posting Closes: Close of Business on May 15, 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 Senior Rental Underwriter is primarily responsible for the underwriting and closing of multifamily affordable housing financing proposals involving taxable or tax-exempt bond financing.  Taxable transactions typically involve “preservation” (FFB/Treasury) or HUD MAP re-financings and may include financings utilizing 9% Low Income Housing Tax Credits (LIHTCs) as well as other loan products. Tax-exempt transactions typically involve new construction; substantial rehabilitation utilizing 4% LIHTCs and other debt, equity products.

As a senior member of the Rental Underwriting team, the Senior Rental Underwriter is called upon to take a leadership role in project and program development, leading teams of internal stakeholders on complex rental transactions.

This position has been designated as "Flex" under MassHousing’s Alternative Work Schedule (AWS)-hybrid work model. However, during the first 90 days, the employee may be expected in the office more frequently for training and onboarding.  

Specific Duties and Responsibilities

• Underwrites, closes, and manages their own portfolio of rental loans through completion before the hand off to asset management.
• Provides guidance to Origination and Borrowers during prescreen by identifying early in the process potential issues including deal structuring, loan sizing, appraisal concerns, design, and environmental reviews.
• Approves due diligence by working directly with the assigned Appraiser and Architect to order third-party reports, while coordinating the underwriting and underwriting inputs from other MassHousing staff, including, but not limited to; Originators, Appraisers, Architects, Design and Technical, Portfolio and Asset Managers, Mortgage Credit and Capital Finance, Diversity & Inclusion and Attorneys.
• Works closely with the Manager of Rental Underwriting and Director of Underwriting to ensure that underwriting issues are identified and addressed, and that loans are processed in accordance with prudent loan standards and applicable MassHousing and HUD/FHA regulations, guidelines, and policies.
• Communicates all findings to the Originator and assists in preparing the Board Proposal and is responsible for preparing the Commitment Letter. After commitment, prepares applications to HUD for applicable credit enhancement documentation and assists legal coordinating the closing of the loan by taking the lead to review and approve business due diligence. This includes leading the communication with the Borrower and internal MassHousing deal team staff.
• Provides technical expertise as assigned to evaluate existing programs and underwriting practices, the development of new multifamily business initiatives, and multifamily lending policies and procedures.
• Mentors not only the underwriting team but also Agency deal team staff.
• Assists with underwriting related cross functional teams, as assigned, such as bond issuance planning, pipeline planning, Joint Venture programmatic relationships and process.
• Performs other duties and responsibilities as assigned and reports directly to a Manager of Rental Underwriting.

Knowledge, Skills and Abilities Required

• Exceptional critical thinking, leadership, strategic thinking, negotiation, curiosity, problem-solving and effective time management skills.
• In-depth knowledge of affordable multifamily housing, underwriting and loan closing diligence.
• Ability to work both collaboratively and independently.
• Excellent organizational, written, and oral communication skills.
• Sound judgement, ability to anticipate problems and opportunities, identify, assess, and take steps to mitigate risk, explore options and develop solutions.
• Ability to respond to needs of internal and external customers and key stakeholders, collaborate with co-workers and business partners, resolve conflicts effectively, and assume additional responsibility when needed.

Minimum Education and Training

• Bachelor's Degree or equivalent work experience required. Advanced degrees in Finance, Real Estate Management, Business Administration, or related field preferred.
• At least seven years of professional real estate experience and significant experience with government and private financing programs for affordable housing.
• Must have broad knowledge of government and private financing programs, including federal insurance, tax credits and affordable housing programs.
• Prior leadership experience preferred, although not required.
• Excellent written and oral communication skills required.

Salary Range: $108,750 - $141,375

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

Talent Acquisition Manager

Organization:  MassHousing

Location:  One Beacon Street, Boston, MA  02108

Posting Closes:  Close of Business on April 29, 2024

Website:  https://www.masshousing.com

MassHousing recently affirmed its longstanding commitment to diversity and inclusion in its 5-year Strategic Goals, see https://www.masshousing.com/-/media/Files/Corporate/MH-5yr-Strategic-Business-Goals.ashx.

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 benefitswhich 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
• Short-Term and Long-Term Disability
• 12 paid Holidays per year and generous sick, vacation, and personal time
• 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 Talent Acquisition Manager position at MassHousing offers an exciting opportunity for an experienced professional to lead talent acquisition efforts and contribute to the organization's long-term success. Reporting directly to the Human Resources Business Partner, this role involves developing and executing innovative recruitment strategies to attract diverse talent. The ideal candidate will have a proven track record in sourcing and recruiting, with a focus on leveraging technology and creative approaches to enhance the employer brand. Collaborating with HR team members and hiring managers, the recruiter will drive initiatives to increase the volume of qualified candidates and ensure positive candidate experiences throughout the hiring process.

This position has been designated as “Flex” under MassHousing’s Alternative Work Schedule (AWS)-hybrid work model.  However, during the first 90 days, the employee may be expected in the office more frequently for training and onboarding.  Flex means in the office at least two days a week.

Specific Duties and Responsibilities

• Partner with the HRBP and hiring managers to determine staffing needs and develop comprehensive recruitment plans.
• Develop and implement strategies to attract and retain top talent, including internal candidates and external hires.
• Collaborate with HRBP to develop and implement recruitment initiatives, including diversity and inclusion efforts. 
• Collaborate with hiring managers to define job requirements and create job descriptions for key positions.
• Source candidates through various channels, including job boards, social media, professional networks, and referrals.
• Screen resumes and applications to identify qualified candidates, conduct initial phone screenings to assess candidate fit.
• Provide recommendations to hiring managers and participate in the selection process. 
• Stay abreast of industry trends and best practices in talent acquisition, continually seeking opportunities for improvement.
• Promote the agency’s employer brand as an employer of choice.
• Provide subject matter expertise in working with applicant tracking systems (ATS), and all social media and online recruiting and talent acquisition platforms.
• Create and maintain metrics and data, and deliver data analysis, reports, and insights for strategic evaluation of recruiting campaigns and overall talent acquisition success.
• Effectively use Microsoft Office, Outlook, PowerPoint, and Word to coordinate and communicate your recruiting progress.
• All other duties as assigned.

Knowledge, Skills and Abilities Required

These skills and qualifications include, but are not limited to:

• Proven experience as a recruiter, with a strong understanding of recruitment principles, techniques, and best practices.
• Demonstrate ability to manage multiple priorities and meet deadlines in a fast-paced environment.
• Knowledge of employment laws and regulations.
• High level of professionalism and confidentiality.
• Have successful experience in leveraging LinkedIn Recruiter and other recruiting platforms and online social tools.
• Build relationships and supporting/supplementing the agencies existing sources, hiring managers, and HR team.
• Help review and recommend improvements to the interview-to-hire applicant cycle.
• Comfortable presenting and promoting recruiting best environment.
• Think critically and creatively.
• Outstanding communication, collaboration, presentation and writing skills.
• Strong proficiency with Internet‐based applications, ATS applications, and the Microsoft Office suite, especially Outlook, Teams, Excel, Word, and PowerPoint. Power BI a plus
• Solid work ethic, high energy, humble, enthusiastic, curious, and with a positive attitude and a willingness to be flexible and adaptive.
• Professional and resourceful style with the ability to work both independently and as part of a small and busy team.

Minimum Education and Training

Bachelor’s degree in human resources, business administration, or field directly related to assignment and ten years of professional current experience in work related to assignment preferred.

Salary Range:  $78,915.00 to $102,589.00

MassHousing is an Equal Opportunity Employer