Nonprofit Finance Fund is hiring a
Director, Housing Loan Program in Worldwide

Summary

The job is for a Director, Housing Loan Program at NFF, focusing on expanding and formalizing the organization's affordable housing finance program. The role involves developing strategies, products, and policies for lending, leading loan origination, structuring, and portfolio management, and maintaining strong networks in the affordable housing sector.

Responsibilities

• Develops a strategy for our affordable housing lending that responds to needs for appropriately structured and priced loans; aligns with NFF’s impact and business goals
• Designs affordable housing products that can fill market needs and gaps; helps to identify the necessary types of capital to support those products
• Leads the development of internal infrastructure necessary to expand and scale up NFF’s housing lending, which may include things like: templates for loan term sheets, due diligence checklists, and credit memos; standardized reporting requirements and loan covenants; best practices for portfolio management and loan monitoring; training staff on housing development best practices, common risks and techniques for risk mitigation; typical capital sources, capital stacks, and funding streams; among others
• Ensures NFF’s lending in the housing sector is well positioned to support nonprofit developers and operators led by and serving Black, Indigenous, and people of color particularly those that face barriers to obtaining financing
• Coordinates with the Market Leaders on NFF’s lending team and NFF Community Engagement staff to identify gaps and opportunities for NFF to finance affordable housing, particularly those in geographies where NFF has an active presence and/or relationships (e.g., NYC, LA, Philadelphia, Bay Area, Colorado, New Jersey, Washington State), as well as in possible expansion areas to be identified
• Coordinates with all NFF Financing staff who will help with implementation of local and national strategies, and meeting lending goals, including loan origination, underwriting, portfolio management, and New Markets Tax Credit teams
• Deepens and maintains strong networks with affordable housing developers, operators, funders, consultants, state and national associations, and lending peers
• Serves as an NFF housing expert; share knowledge internally and externally, represent NFF in various industry associations and working groups, among other ways
• Builds NFF’s brand among housing partners and stakeholders; raises awareness of our work in housing; and develops our reputation over time as a vital CDFI in this space. This will be accomplished through direct relationship building and networking, as well as by working with our Marketing & Communications team to develop and post relevant content via social media, as well as occasional emails, blogs, etc
• Leads the development of a pipeline of viable loan opportunities in partnership with the Market Leaders on NFF’s Loan Origination team
• Identify, assess, and shepherd viable lending opportunities into and through the loan pipeline
• Conduct and/or oversee the analysis of housing loan opportunities, including the following: project feasibility; capital stack; borrower structure and financials; development team qualifications and track record; market studies and community engagement; project cash flow, repayment and/or take-out sources; and other relevant areas as appropriate
• Support Underwriting team in proposing appropriate loan structures, reporting requirements, covenants, and other loan features
• Assist Portfolio Management team in reviewing borrower reporting where staff need additional context or housing expertise; provide support on requests for modifications, extensions, and waivers for loans in the housing portfolio as needed
• Collaborate with Portfolio Management team to establish best practices around monitoring and risk analysis of the housing portfolio overall; provide context on sector and market trends that may impact credit quality within the housing loan portfolio