Cambridge Trust commits $110 million to MHP to finance affordable rental housing. MORE
September 22, 2021
The Massachusetts Housing Partnership (MHP), a non-profit public agency, is a national leader in affordable housing finance and a primary lender in Massachusetts for the financing of affordable and mixed-income rental housing. MHP has over $1.3 billion in credit lines from Massachusetts banks and is an approved Fannie Mae affordable multifamily lender and an FHA Risk-Sharing Program and MAP lender. MHP-financed properties include mixed-income developments for families, single-room occupancy housing, assisted living and other facilities serving the elderly, and properties serving special needs populations. MHP's borrowers range from small non-profit and for-profit developers to some of the largest and most sophisticated developers in the Northeast. At MHP we celebrate diversity and are committed to creating an inclusive environment for all employees.
We are seeking a Senior Loan Processor to bring expertise and leadership to the loan processing function of MHP’s commercial multifamily lending from pre-application through loan commitment. A primary function of this position is to assess and develop efficient and smooth loan processing systems. In addition, this position will work directly with loan officers and borrowers on assembling complete and accurate loan applications for approval as well as loan packages for submission to FHA and Fannie Mae. The position will play a critical role in ensuring the efficient underwriting, approval, commitment and loan closing under MHP’s bank, Fannie Mae, and HUD platforms, and will help develop and train staff on loan processing best practices.
Specific responsibilities will include, but are not limited to, assisting with oversight of pipeline of deals, along with oversight of the pipelines of two additional Loan Processors; serving as a liaison between MHP’s loan officers and borrowers, including obtaining and assembling all materials necessary for loan processing; analyzing and creating processing systems to ensure sufficient and smooth operations; maintaining detailed tracking on the status of all application and underwriting materials; regularly communicating the status of loan processing materials with loan officers; reviewing files for completeness and adequacy and identifying any critical missing information; soliciting bids and draft engagement letters for third party reports including credit reports, credit references, appraisals and inspection reports; remaining current on loan documentation required by MHP’s FHA and Fannie Mae platforms; assembling loan packages for submission to FHA and Fannie Mae; maintaining, and as necessary contributing improvements to, loan processing checklists and templates for each capital source; updating Salesforce pipeline and database; other responsibilities as assigned.
Minimum qualifications: Applicants must have a minimum of 2-4 years’ experience in commercial multifamily loan processing; exceptional attention to detail; exemplary organizational and communications skills (written and verbal); demonstrated ability to work in a team-oriented environment; bachelor’s degree in real estate, finance or a related filed, or equivalent experience; ability to manage multiple transactions and tasks simultaneously; and proficiency in Excel and other Microsoft Office suite products.
Additional experience preferred: Management and/or mentoring experience; experience with Fannie Mae and/or MAP processing; working knowledge of affordable housing programs; experience with Salesforce.
Salary is commensurate with experience. MHP provides a comprehensive benefits package including health, life, dental, and disability insurance, flexible spending accounts, professional development and educational assistance, paid time off, paid family leave, flexible work schedule and a fully vested employer-matched retirement plan. This is an excellent opportunity to work with a dedicated, creative and passionate team.
MHP is located at 160 Federal Street in Boston. We are currently operating on a remote schedule and are discussing plans for a hybrid model of office-based and home-based work in the future.
MHP is committed to creating a diverse and inclusive workplace and is proud to be an equal opportunity, affirmative action employer. All decisions are based on business needs, job requirements and individual qualifications without regard to race, religion, color, national origin, gender, sexual orientation, gender identity, gender expression, age, past or present military service, status as an individual with a disability, or any other legally protected characteristics. MHP is committed to compliance with all fair employment practices regarding citizenship and immigration status. Reasonable accommodations may be made to enable individuals with disabilities to perform essential job functions.
If interested in joining MHP’s team, please fill out our ONLINE APPLICATION.