What are the responsibilities and job description for the Multifamily Analyst I position at New Jersey Housing and Mortgage Finance Agency (NJ)?
Under supervision of the Multifamily/Supported Housing and Lending Loan Manager, perform financial analyses of mortgage applications and develop financial feasibility strategies; assist Credit Officers with market evaluation and loan processing of a multifamily rental housing application; review developer/sponsor proposals for marketability and make recommendations; collect project data from Credit Officers and update various divisional charts; conduct industry and/or Agency Portfolio studies as requested; prepare accurate and complete written reports on analyses and findings and perform special projects as directed.1. Perform financial analyses of mortgage applications and develop financial feasibility strategies through the creation and use of financial analysis tools that maximize the number of alternative solutions available for project financing.
2. Assist the Credit Officers with market evaluation and loan processing of multifamily rental housing applications.
3. Work with Credit Officers to assist applicants in applying for additional funds from potential sources, i.e., LIHTC (Low Income Housing Tax Credits), Balanced Housing, Home Funds, etc.
4. Conduct site inspections in conjunction with Credit Officer and Technical Services staff. Assist in making analyses of land suitability, eligibility for subsidies and marketability of housing. Assist in making recommendations for approval or disapproval based on inspection and in preparation of reports based on findings.
5. Review developer/sponsor proposals for marketability and make recommendations regarding housing proposals.
6. Assist the Credit Officer in ensuring that all documentation is current and accurate to meet the needs of the Agenda Review Committee.
7. Collect project data from Credit Officers and update various divisional charts on a monthly basis.
8. Conduct various industry and Agency Portfolio studies as requested, i.e., on multifamily projects, prospective commercial tenants, etc.
9. Prepare correspondence for the Division as requested.
10. Attend meetings and conferences as requested.
11. Prepare accurate and complete written reports on analyses and findings within established timeframes.
12. Perform special projects as directed.Multifamily Analyst I (Range 8)
Two (2) year college degree and three (3) years of related experience or a combination of both education and experience which meets the required knowledge, skills, and abilities.
Physical Demands
Able to lift 10 pounds
Working Conditions
General office environment. Extensive travel is required.
Certificates & Licenses Required
A valid driver’s license in the State in which the person resides is required only if the operation of a vehicle, rather than employee mobility, is necessary to perform the essential duties of the position.
2. Assist the Credit Officers with market evaluation and loan processing of multifamily rental housing applications.
3. Work with Credit Officers to assist applicants in applying for additional funds from potential sources, i.e., LIHTC (Low Income Housing Tax Credits), Balanced Housing, Home Funds, etc.
4. Conduct site inspections in conjunction with Credit Officer and Technical Services staff. Assist in making analyses of land suitability, eligibility for subsidies and marketability of housing. Assist in making recommendations for approval or disapproval based on inspection and in preparation of reports based on findings.
5. Review developer/sponsor proposals for marketability and make recommendations regarding housing proposals.
6. Assist the Credit Officer in ensuring that all documentation is current and accurate to meet the needs of the Agenda Review Committee.
7. Collect project data from Credit Officers and update various divisional charts on a monthly basis.
8. Conduct various industry and Agency Portfolio studies as requested, i.e., on multifamily projects, prospective commercial tenants, etc.
9. Prepare correspondence for the Division as requested.
10. Attend meetings and conferences as requested.
11. Prepare accurate and complete written reports on analyses and findings within established timeframes.
12. Perform special projects as directed.Multifamily Analyst I (Range 8)
Two (2) year college degree and three (3) years of related experience or a combination of both education and experience which meets the required knowledge, skills, and abilities.
Physical Demands
Able to lift 10 pounds
Working Conditions
General office environment. Extensive travel is required.
Certificates & Licenses Required
A valid driver’s license in the State in which the person resides is required only if the operation of a vehicle, rather than employee mobility, is necessary to perform the essential duties of the position.
- Knowledge of real estate development principles, municipal land use laws and housing finance mechanisms.
- Knowledge of Federal and State housing programs.
- Knowledge of real estate property management procedures.
- Knowledge of Federal and State laws affecting multifamily construction.
- Ability to interpret information and make appropriate recommendations.
- Ability to accomplish multiple assignments simultaneously.
- Ability to communicate effectively, orally, in writing and to listen actively.
- Ability to prepare financial statements and accurate, concise and informative reports.
- Ability to maintain a positive work atmosphere in an appropriate manner of behavior that ensures cooperation and effective communication with customers, clients, peers and management.
Salary : $51,372 - $72,295