Senior Loan Administrator

Background

HAF is an innovative nonprofit lender and Community Development Financial Institution (CDFI).  Established in 2017 by the San Francisco Mayor’s Office of Housing and Community Development, we create public-private partnerships and leverage private, philanthropic and public capital to stem displacement of low-income and working families and accelerate the production of new affordable housing across the Bay Area.

HAF has made over 50 loans totaling 2,600+ units since our inception in 2017, partnering with community-based organizations and developers to address financing gaps and catalyze impact that could not be achieved without our team’s approach and capital. We are now proud to be a regional lender supporting the greater San Francisco Bay Area. In addition to acquisition and rehab and vacant land bridge loans in San Francisco that have made up the majority of our historic lending, we offer a diversified range of loan products including new construction loans, permanent loans, and unsecured predevelopment loans. 

With a track record of raising over $350 million in lending capital, HAF also focuses on solutions that can unlock new investments into affordable housing. Examples include creating a Donor Advised Fund facility with over $30M in investments from local mission-aligned supporters, as well as the new $50M Bay Area Housing Innovation Fund focused on senior and second mortgage mezzanine loans to replace all or a part of the competitive capital stack on new construction projects. 

Summary

We’re looking for a new team member to play a critical role in construction and permanent loan administration. This individual will be the primary team member reviewing and processing affordable housing construction loan draws, reviewing and tracking borrower insurance and real estate tax payments, requesting and reviewing title endorsements, supporting accounting & finance team members on audit and compliance responses, partnering with relationship managers to ensure financial reporting, insurance and change order approval limits are documented and tracked accurately, and most importantly, providing our clients with high touch, responsive and exceptional client service. This person will be comfortable working with numbers and with people and will represent a critical line of defense in loan compliance and administration and a trusted source of knowledge and training for our client base.

Full job description: HERE

Responsibilities

Construction Loan Draw Processing – 60%

• Receive construction loan draws, review for satisfactory completion and accuracy, and ensure all required documentation is saved in the files.
• Balance draw requests to draw and budget spreadsheets, general contractor pay applications, material deposit documentation and project invoices.
• Partner with borrowers to ensure all outstanding questions and/or missing items from draws are received, e.g. requesting missing invoices or (un)conditional lien waivers.
• Request and review 3rd party construction inspector reports and ensure that report information matches the latest construction pay application and draw spreadsheet.
• Ensure all necessary application documents have been received before submitting draws for approval.
• Assess compliance with loan documentation to ensure loans are within budget and time frame for project completion.
• Analyze budgets against sources and uses of funds to identify exceptions to or changes in conformity to standard monitoring requirements.
• Proactively lead on items affecting the disbursement process such as change orders, sufficiency of funds, liens, set asides, restricted starts and lien-free endorsements.
• Obtain appropriate level of draw approval as necessary, including processing credit exceptions and supporting relationship managers with tracking approval limits and thresholds.
• Proactively communicate with borrowers, loan officers, construction inspectors, title officers, legal partners and other financing partners during all phases of financing to stay ahead of potential issues.
• Partner with internal finance partners to ensure draw disbursements are processed in a timely manner to meet client needs.
• Be a coach, champion and advocate for our clients to support them in submitting clean, complete and timely draw packages that can be processed efficiently.
• May be asked to coach and mentor junior staff members and/or borrower community to teach how to prepare and submit complete draw packages.

Loan Closings & Loan Payoffs – 20%

• Maintain current internal insurance standards and ensure borrowers are in receipt of up-to-date insurance standards.
• Internal lead on borrower insurance reviews during the loan closing process and during the life of the loan, partnering with borrower, legal counsel, insurance brokers to communicate insurance requirements, identifying any need for internal exceptions.
• Analyze title insurance commitment reports including title exceptions and proposed endorsements.
• Ensure all terms of the loan, as approved, are incorporated into the loan documents.
• Compile and provide closing and legal invoices to borrowers and partners to ensure timely payment.
• Review settlement statements for accuracy and reconcile to closing construction loan draws or other loan advances.
• Manage the closing and payoff of construction & permanent loans, including joining calls and communicating closely with borrower, legal counsel and other financing partners.
• Prepare demand letters for loan payoffs.
• Manage loan reconveyances and closeout documentation such as termination of UCC’s.

Borrower Information Collection & File Maintenance – 20%

• Responsible for setting up and monitoring loan and financial ticklers to ensure accuracy and timeliness.
• Manage construction loan files including full draw request packages, draw approvals, insurance certificates, lien-waivers, construction loan inspector reports, critical communication with borrowers.
• Collect and review quarterly financials from borrowers and guarantors and file them appropriately.
• Communicate with borrowers to ensure insurance is renewed in advance of expiration and partner with relationship manager to work through any insurance issues as they arise.
• Set-up and maintain internal records keeping loan disbursements and project progress.
• Receive and file lien and title notices related to construction projects.
• Assist with various loan administration and monitoring duties as required.
• Additional duties as assigned.

Requirements

You’re a great fit for the role if you have:

• 5+ years of experience in one or more of the following fields: accounting, finance, business administration, construction loan administration, construction or real estate.
• A high level of attention to detail and excellent judgment and decision-making abilities.
• Moderate or strong Microsoft Excel skills.
• Familiarity with affordable housing industry, particularly in California.
• A proven success as a resourceful self-starter and comfortable working in a start-up environment. 
• Ability to manage multiple projects at the same time and prioritize critical-path tasks and project management.
• Dedication to addressing the Bay Area’s housing affordability and homelessness crisis.
• Personal commitment to Diversity, Equity, Inclusion and Belonging, and to embedding equity in how we work with our borrowers and the types of projects that we provide.

We know that there are skill gaps in the affordable housing sector, and we want to help train the next generation of affordable housing leaders. If you are passionate about our mission, we strongly encourage you to apply even if you aren’t sure your skills and experience are a direct fit.

The Housing Accelerator Fund is an Equal Opportunity Employer.  We are committed to ensuring that our hiring process is inclusive and equitable for all candidates. We strongly encourage applications from individuals of all backgrounds, particularly those who share lived experiences with the communities we serve. This includes but is not limited to: candidates who identify as Black, Brown, Indigenous, Latinx, and Asian and/or a member of other underrepresented races and ethnicities; candidates of all gender identities and orientations; people of all ages; veterans; people with disabilities; and individuals who have lived experience of housing, food and/or economic instability or scarcity.

Compensation and Benefits

$90,000 – $110,000 + up to 5% bonus

Our benefits package includes comprehensive, employee-selected insurance coverage (medical, dental, vision, life); 100% coverage for employees and 50%-80% for dependent coverage; a 401(k) plan with employer match after one year; generous PTO beginning at 18 days plus paid holidays; cell phone, internet, and fitness stipends; FSA & Commuter Savings accounts, and more. 

How to Apply

To Apply: email the following to [email protected] with the subject line Senior Loan Administrator:

• Resume
• Cover letter of 1-2 pages that includes:
  • Your interest in the position 
  • How your background and experience will support you in performing the position’s responsibilities
  • Your reflections on the following: in brief, how have your past experiences, activities, or background made you aware of inequities and challenges faced by historically underrepresented or economically disadvantaged groups, particularly in the context of HAF’s mission (to accelerate the production and preservation of affordable housing for California’s economically disadvantaged households, individuals, and communities by lending to, investing in, and directly acquiring real estate assets)? How has this awareness shaped your personal and professional growth, including your professional work?