Multifamily Analyst I

Location Trenton, NJ

Job Code 736

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NOTICE OF VACANCY

THE EXECUTIVE DIRECTOR OF THE NEW JERSEY HOUSING AND MORTGAGE FINANCE AGENCY INVITES APPLICATIONS FROM QUALIFIED CANDIDATES FOR THE FOLLOWING:

Job Title: Multifamily Analyst I

Salary Range: PR* ($47,012.65 - $66,160.05)

Division: Multifamily/Supported Housing and Lending

FL Status: Exempt

Issue Date: 8/15/24

Closing Date: 9/22/24

Union Status: Professional Bargaining Unit, Exempt

Employment Status: Full time

JOB DESCRIPTION

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.

JOB DUTIES AND RESPONSIBILITIES

• 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.

• Assist the Credit Officers with market evaluation and loan processing of multifamily rental housing applications.

• 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.

• Conduct site inspections in conjunction with the 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.

• Review developer/sponsor proposals for marketability and make recommendations regarding housing proposals.

• Assist the Credit Officer in ensuring that all documentation is current and accurate to meet the needs of the Agenda Review Committee.

• Collect project data from Credit Officers and update various divisional charts every month.

• Conduct various industry and Agency Portfolio studies as requested, i.e., on multifamily projects, prospective commercial tenants, etc.

• Prepare correspondence for the Division as requested

• Attend meetings and conferences as requested.

• Prepare accurate and complete written reports on analyses and findings within established timeframes.

• Perform special projects as directed.

MINIMUM REQUIREMENTS

Education / Experience:

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.

Skills:

• 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.

Physical Demands: Must be able to lift 10 lbs.

Working Conditions: General office environment. Extensive travel is required.

BENEFITS

NJHMFA provides a comprehensive benefit package which includes:

• Medical, prescription, dental, vision & long term disability

• FSA & HSA

• Public Service Loan Forgiveness and Tuition Reimbursement

• Public Employees' Retirement System (PERS)

• Deferred compensation plans

• Employee assistance services (EAS)

• State employee discounts program

• Paid personal, sick and vacation days

• Paid holidays

• Partial Telework

Residency in the State of New Jersey is required of all employees with an agency of the State in accordance with the New Jersey First Act, N.J.S.A. 52:14-7 (L. 2011, Chapter 70). Employees must comply with the “New Jersey First Act” which requires employees hired after September 1, 2011 to reside in New Jersey. Non-New Jersey resident employees must relocate to New Jersey within one year of their date of hire and provide proof of residency to Human Resources.

The NJHMFA is an Equal Opportunity Employer in compliance with all Federal, State and Local Regulations. NJHMFA provides equal employment opportunity to both individuals with veteran status and individuals with disabilities.

Must complete an Outside Activity Questionnaire (disclosure of outside office or employment) on an annual basis.

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