Grant and Loan Specialist
Company: U.S. Department of Housing and Urban Development (HUD)
Locations: Washington, DC; Chicago, IL
Job Function: Other
Background
The Office of Multifamily Housing is responsible for the overall management, development, direction, and administration of HUD’s Multifamily Housing Programs. HUD’s Multifamily programs provide mortgage insurance to HUD-approved lenders to facilitate the construction, substantial rehabilitation, purchase and refinancing of multifamily housing projects. MFH is widely responsible for production, asset management and portfolio oversight, and recapitalization of assisted properties, and field operations. As part of the National Housing Act of 1934, Congress created the Federal Housing Administration (FHA) which later became a part of the Department of Housing and Urban Development’s (HUD) Office of Housing in 1965.
The Office of Recapitalization (“Recap”) supports the preservation and recapitalization of federally-assisted housing and rental assistance for current and future generations. Recap structures, reviews, and implements transactions to ensure long-term physical and financial viability, often through public-private partnerships and the use of tax-incentivized financing. Recap also implements other affordable housing initiatives which leverage this transactional expertise. Programs currently or recently implemented by Recap include the Rental Assistance Demonstration (RAD), Mark-to-Market (M2M), Section 236 Preservation, Pre-1974 Section 202 Direct Loan Preservation (including SPRAC), Section 202 Capital Advance NOFAs, Tenant and Community Engagement Initiatives, and the Green Retrofit Program.”
Summary
HUD’s Office of Recapitalization (Recap) is hiring two Grant and Loan Specialist positions (GS-12) in Washington, D.C. and Chicago, IL to work on the new Green and Resilient Retrofit Program, authorized through the 2022 Inflation Reduction Act. In particular, the positions will work directly with owners of multifamily properties to facilitate HUD’s green and resilient retrofitting of properties that have HUD rental assistance (e.g., Section 8 project based rental assistance, Section 202, and Section 811). HUD is seeking qualified candidates with a background in underwriting and/or closing commercial real estate, multifamily housing transactions, or related fields, and a passion for affordable housing preservation and increasing the energy and water efficiency and climate resilience of these properties. The positions will involve working closely with HUD contractors and building owners on various program activities, reviewing program grant and loan applications, underwriting, and closing associated real estate transactions, and other duties, as may be assigned.
Responsibilities
As a Grant and Loan Specialist, you will:
– Ensure timely submission of project proposal and transaction related forms for various actions as required by program requirements.
– Review document submissions from program participants and applicants to assess completeness, accuracy, and compliance with established program requirements and make recommendations for action by a senior staff person or supervisor.
– Prepare approval letters and other standard form documents and contracts or agreements for review and signature by a senior staff person or supervisor.
– Review closing packages for completeness and accuracy and perform tasks associated with the closing of preservation transactions, grants, and loans. Oversee timely completion of post-closing functions including required owner certifications of completion of capital repairs, disburse grant award funds, and perform other grant management functions; and contact program participants and applicants with errors.
– Coordinate and prepare routine reports for senior staff persons and management to assist in the tracking of reaching performance goals.
Requirements
Candidates will be selected for a job assigned to one of the official duty stations listed in this announcement. Failure to report to duty at the location for which the candidate is selected may be grounds for a disciplinary action, including removal.
Key Requirements:
- Must be U.S. Citizen or U.S. National.
- A one year probationary period may be required.
- Must successfully complete a background investigation.
- Complete a Declaration for Federal Employment to determine your suitability for Federal employment, at the time requested by the agency.
- Have your salary sent to a financial institution of your choice by Direct Deposit/Electronic Funds Transfer.
- If you are a male applicant born after December 31, 1959, certify that you have registered with the Selective Service System or are exempt from having to do so.
- Go through a Personal Identity Verification (PIV) process that requires two forms of identification from the Form i-9. Federal law requires verification of the identity and employment eligibility of all new hires in the U.S.
- Obtain and use a Government-issued charge card for business-related travel.
- Please refer to “Additional Information Section for additional Conditions of Employment.”
Qualifications
You must meet the following requirements by the closing date of this announcement.
Specialized Experience: For the GS-12 grade level, you must have one year (52 full weeks) of specialized experience at a level of difficulty and responsibility equivalent to the GS-11 grade level in the Federal service.
Specialized Experience for this position includes:
– Reviewing grant or loan applications for affordable housing, green building, energy efficiency, or climate resilience programs. AND
– Providing on-going technical assistance on matters related to multifamily housing. AND
– Preparing memoranda or recommendations for use by staff and management. AND
– Performing activities related to the financing of construction or rehabilitation of multifamily housing projects.
Experience may have been gained in either the public, private sector or volunteer service. One year of experience refers to full-time work; part-time work is considered on a prorated basis. To ensure full credit for your work experience, please indicate dates of employment by month/day/year, and indicate number of hours worked per week on your resume.
Compensation and Benefits
$92,279 – $122,459 per year
How to Apply
Please see USAJOBS job announcement