National Equity Fund, Inc. (NEF), a leading non-profit syndicator of low-income housing tax credits (LIHTC), is seeking an Vice President, Originations to conduct a wide range of new business initiatives. The LIHTC program is the most important resource available today for creating affordable housing in the United States. NEF uses its extensive experience, talent, and resources to create sustainable affordable housing.
The Vice President, Originations, will originate low-income housing tax credit investments. Represent NEF and manage the production workload in the designated region. Responsible for structuring transactions in a manner consistent with Investor expectations, ensure long-term project viability, and meet NEF’s mission. Successful in working independently and collaboratively across departments to structure and negotiate transactions.
Seeking candidates within the New York, NY, Boston, MA , Washington, D.C., and Philadelphia,PA regions.
Essential duties:
Secure low income housing tax credit investments in the designated region at levels as established by the Regional Managing Director and Chief of Production.
Ability to issue and successfully negotiate letters of interest with sponsors.
Work closely with investor relations and capital markets colleagues to successfully identify and secure investor interest in LIHTC transactions.
Responsible for NEF marketing efforts in the designated region. Maintain existing and establish new relationships with non-profit and for-profit low-income housing developers, funders, lenders, and state allocating agencies in designated markets.
Serve as the external face for NEF, including attendance at and/or serving as presenter at State and other relevant housing conferences, meetings, and forums.
Provide Regional Managing Director with a business plan for the designated market, determining optimal marketing strategy, and executing said business plan to achieve production goals.
Possess strong knowledge of complex real estate underwriting, Section 42 requirements, various state tax credits, Historic Tax Credits, energy credits, project-based rental subsidies and vouchers, and relevant tax topics and issues including minimum gain and grant structures.
Structure LIHTC transactions according to NEF established underwriting guidelines and pricing parameters. Work through credit issues with the Regional Managing Director. Must be able to analyze a project’s income structure, operating expenses, debt service requirements, market studies and a developer’s financial and development capacity.
Work and coordinate with NEF staff in other departments (including but not limited to project management, asset management, asset operations, and reporting) in managing and resolving issues with projects in the designated geography
Other duties and special projects as assigned by the Regional Managing Director
The ideal candidate:
Undergraduate or graduate degree in business, economics, urban planning or finance preferred.
Minimum of 5-10 years’ experience in underwriting and structuring real estate projects.
Ability to work independently and effectively on numerous projects at the same time.
Strong analytical skills and proficiency in Microsoft Office programs, including Excel and Word and other relevant applications.
Strong communication and presentation skills, both written and verbal.
Possess excellent customer service skills and conducts oneself with utmost professionalism with colleagues and with external stakeholders.
Ability to explain complex financing structures to developers, stakeholders, funders, and other related audiences.
Prior experience with affordable housing loans or investments and knowledge of state and local programs a must.
Strong background in structuring complex real estate transactions.
Demonstrate experience in underwriting LIHTC transactions and growing business relationships.
We offer a competitive salary, along with a comprehensive benefits package.