About the Job
The Portfolio Associate is responsible for a variety of tasks associated with the management of the Loan Fund’s lending activities including loan closings and loan servicing of a portfolio with a range of loan types (predevelopment, acquisition, construction and permanent loans) and diverse projects (affordable housing, charter schools, health care facilities and other community development projects). The position involves a combination of loan closing and servicing duties as outlined below.
In collaboration with the Lenders, the Portfolio Associate will participate in the loan closing process from loan approval through closing. The Portfolio Associate is responsible for entering and maintaining loan data systems. The Portfolio Associate will prepare and maintain loan closing checklists along with Legal and ensure all loan closing conditions have been met and approved by the appropriate authorized parties. The Portfolio Associate will review draft loan documents to ensure accurate implementation of key loan terms per the loan approval. The Portfolio Associate will review insurance policies to ensure that they meet Loan Fund’s lending standards and guidelines. The Portfolio Associate will communicate to the Lenders any documentation issues that have the potential to negatively impact loan closings.
The Portfolio Associate will work with the Accounting and Capital Management staff to set-up new loans in the Loan Fund’s lending data bases. The Portfolio Associate is responsible for coordinating funds required at loan closing with Capital Management, Accounting, and third party lenders, as necessary.
The Portfolio Associate is responsible for servicing and monitoring a portion of Loan Fund’s “on” and “off balance sheet” loans. Duties related to this activity include, but are not limited to: processing monthly draw requests for construction and non-construction loans; maintaining project budgets; monitoring and/or following up on loan reporting and other milestones required to keep the loan in compliance; ongoing file maintenance; updating loan information in Loan Fund’s lending databases; processing loan payoffs; and archiving records. In addition, the Portfolio Associate will assist the Lenders and Chief Credit Officer with processing loan modifications.
Other Duties as Assigned
From time to time, the Portfolio Associate carries out other responsibilities as assigned including but not limited to assisting with the administration of specific Loan Fund lending programs, developing reports, administering lender pools, selling participation in loans, and implementation of lending databases.
- 3+ years of experience in loan administration and loan monitoring/servicing
- General knowledge of real estate and construction lending is required
- Ability to work well in a team environment is essential.
- Strong written and verbal communication skills
- Excellent customer service skills is required
- Ability to prioritize and manage multiple competing tasks while maintaining a high degree of attention to detail is essential
- Strong computer aptitude, including knowledge of Microsoft Office Suite Programs, Office 365 and other database software.
- The position requires a high degree of self-motivation, dedication, and flexibility with time and willingness to accept a demanding (and personally satisfying) position.
- A minimum two year associate’s degree is preferred.
- Knowledge of affordable housing and community development loans is helpful
- General knowledge of corporate and real estate insurance
- Knowledge of SalesForce and Precision LM (LMS) systems is a plus.
Apply online at http://tinyurl.com/y8acmt59
Enterprise Community Investment
Enterprise’s mission is to create opportunity for low- and moderate-income people through affordable housing in diverse, thriving communities. We are driven by our mission, fueled by business discipline and sustained by donors and investors. Since 1982, Enterprise has worked with partners in communities nationwide. One of America’s original social enterprises, we bring together the people and resources to create affordable housing in strong neighborhoods. Within Enterprise are entities that lend funds, finance development and manage and build affordable housing. To date, Enterprise has invested $18.6 billion, helped create nearly 340,000 homes and touched millions of lives. In fact, every day someone moves into a better place to live thanks to Enterprise.