We’re looking for a new team member to play a leading role in new, high-impact affordable housing transactions. That means everything from early-stage conversations with borrowers and feasibility assessments to creative deal structuring and loan closings. Position title, reporting structure, and specific responsibilities will be determined based on an individual’s background and experience.
Lending and Investing - New Transactions (70%)
- Loan Originations
- Underwriting and closing loans to developers for acquisition, new construction, or rehabilitation of affordable housing developments.
- Feasibility analyses of early-stage financing requests
- Guiding borrowers through underwriting and due diligence processes
- Preparing development and financing budgets with borrowers and negotiating permanent takeout funding with private and public sector providers
- Underwriting developer sponsors’ financial and organizational capacities
- Preparing and presenting Credit Memoranda to HAF’s internal Credit Committee, Investment Committee, and/or Board of Directors to gain approval for new funding
- Lending Operations
- Maintenance of internal systems and databases related to loan pipeline and projects in underwriting
Remaining 30% will depend on the Candidate. May include:
- Analyzing real estate market trends to inform policy and investment decisions
- Modeling expansion of affordable housing preservation programs or replication to new markets;
- Financial modeling of new programs that leverage new opportunities in land use changes, new funding streams, and the emergence of new funding partners and/or borrowers
- Collaboration in the HAF’s organizational financial management: including accounts payable and receivable, cash flow modeling, long-term and short-term financial projects, and audit support.
- Project management of cross functional initiatives and special projects
- While our primary scope of work focuses on the city of San Francisco, we encourage candidates who bring knowledge of affordable housing in the broader Bay Area to apply.
- We’ve been remote throughout the pandemic with the exception of semi-regular (1 - 4 times per month) site walkthroughs. Once our team feels comfortable returning to in-person work, we plan to be hybrid (2-3 days per week minimum out of an SF-based office with the remainder work from home at individual discretion).
- We are an Equal Opportunity Employer. HAF is an equal opportunity employer. We strongly encourage and seek applications from women-identifying individuals, BIPOC, bilingual and bicultural individuals, as well as members of the LGBT+ communities.
What the Role Looks Like:
- First Week: Get to know your teammates and external partners; we’ll go on a walkthrough of all current portfolio projects across San Francisco and can see your impact up close.
- Within A Month: You’re up to speed on our underwriting guidelines and process and, with support from the team, underwriting your first project. You and your manager will develop a road map of 6-month and 12-month goals, with defined resources to support you.
- Within Three Months: You’ve closed a loan in partnership with your teammates and are working on your first solo project. You meet with the borrower to understand the needs of their acquisition rehab project, underwrite and close the loan.
- Within Six Months: You’ve closed two more projects and have a sense of growth opportunities within HAF’s underwriting guidelines and the City’s. You’re able to be a thought partner to HAF’s leadership and City staff as underwriting guidelines for existing programs are reviewed.
- Within One Year: Depending on level of seniority, you’re supporting or driving new product development. You are not only underwriting deals using HAF’s existing financial products, you are structuring loans outside of HAF’s existing product set and, in doing so, setting up new investment programs.
Total Compensation (Salary + Bonus):
Associate / Senior Associate (3-5 years relevant experience): $80,000 - $110,000
VP / Senior VP (6 - 10+ years relevant experience): $110,000 - $160,000