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  • Make an impact and join the opportunity finance field.

The track record of today’s opportunity finance industry is impressive. All financing directly benefits low-income and low-wealth people to increase access to homeownership opportunities, affordable rental housing, thriving small businesses, and critical services such as childcare, healthcare, and education.

Do you want to develop innovative strategies? Combine your business acumen with an unwavering dedication to making a difference in people’s lives? Change the rules of financing? Make your impact and join the opportunity finance field.

To submit a job listing, please use our online form. If you need to edit or remove a posting, please contact info@ofn.orgSubmissions will be reviewed to ensure relevancy to the industry, and posted within 2 business days.

Loan Officer Enterprise Community Loan Fund (ECLF)
Columbia, MD
Job Function: Financial Services
Posted: October 3, 2019

Background:

Enterprise Community Loan Fund (ECLF) is a certified community development financial institution and a member of the Enterprise family of companies. Since its founding in 1982, Enterprise, our controlling entity, has raised and deployed more than $43.6B in equity, grants and loans to support low income people and low-income communities including building or preserving nearly 585,000 affordable rental homes. For more information about Enterprise, please visit our website at www.enterprisecommunity.org.The Enterprise Community Loan Fund has an immediate opening for a Loan Officer position. The position would have lending and portfolio responsibilities throughout Enterprise’s national footprint. The opportunity can be based in any of the following locations New York, New York; Seattle, WA; Los Angeles or San Francisco, CA or Denver, CO. When applying, please indicate which location you are interested working at?

Position Summary:

Reporting to the Chief Lending Officer, the Loan Officer is responsible for underwriting loan requests in support of community development projects with particular emphasis on affordable housing and community facilities, including both interim/bridge, New Market Tax Credits leverage loans and permanent term loans. The position will support ECLF’s lending activities across its national footprint. The responsibilities also include managing a defined portfolio of loans from origination through repayment. The Loan Officer is also expected to be the staff lead for ECLF’s local lending initiatives working collaboratively with local staff of Enterprise Community Partners.

The Loan Officer is expected to develop and maintain relationships with community development organizations and other relevant groups for the regions in which he/she works, as well as field representatives of Enterprise. The position requires an experienced professional with strong analytical, financial and relationship management skills.

Responsibilities:

Specific responsibilities include:

• Contribute to production goals by identifying lending opportunities, and originating new loans upon referral through the Enterprise system and external partners.
• Structure and negotiate financing proposals/commitments and prepare comprehensive written loan packages for review and approval by management or Loan Committee for both direct financing
by ECLF and financing through various off-balance sheet funds.
• Review and interpret third party due diligence reports, including appraisals, market assessments, entitlement/zoning classifications, and environmental reports to determine transaction viability and
appropriate loan structure.
• Coordinate the preparation of commitment letters and loan documents with attorneys.
• Manage the closing process, including internal and external closing counsel, and the collection, review, approval and execution of all closing items.
• Manage an existing portfolio of loans, including annual site visits, timely review of financial statements, review and approval of disbursement/funding requests, monitoring for covenant compliance
and processing modification and extension requests.
• Maintain loan files in audit‐ready condition to ensure accuracy and completeness.
• Work cooperatively with local and regional staff from Enterprise Community Partners, Enterprise Community Investment and Bellwether Enterprise to coordinate and leverage Enterprise resources
﴾grants, loans and equity﴿ in project development and advancement of the Enterprise strategic plan.
• Assist with other projects as needed.

Requirements:

• Undergraduate degree required; advanced degree in business, finance or related field preferred.
• Three ﴾3﴿ years of commercial real estate lending experience with preference for experience in multi‐family affordable housing and/or community facilities. Community development underwriting and knowledge of various housing programs and the broader community development field is a plus.
• Demonstrated experience in preparing and negotiating complex, multi‐layered transactions and balancing the programmatic needs of community based organizations with sound underwriting judgment and risk mitigation.
• Ability to prioritize and manage multiple projects and assignments, meet tight deadlines, and coordinate and communicate effectively across all levels of an organization.
• Strong business development, analytical, communication, and problem solving skills, with working knowledge of spreadsheet programs.
• Detailed analytical skills with database management and spreadsheet knowledge.
• Familiarity with federal, state and local community development programs, particularly programs that finance charter schools, federally‐qualified health centers and affordable housing.
• Ability to travel up to 30% of the time.

Compensation:

Commensurate with experience

How to Apply:

https://careers.enterprisecommunity.com/

Credit Analyst Enterprise Community Loan Fund (ECLF)
Columbia, MD
Job Function: Financial Services
Posted: October 3, 2019

Background:

Enterprise Community Loan Fund (ECLF) is a certified community development financial institution and a member of the Enterprise family of companies. Since its founding in 1982, Enterprise, our controlling entity, has raised and deployed more than $43.6B in equity, grants and loans to support low income people and low-income communities including building or preserving nearly 585,000 affordable rental homes. For more information about Enterprise, please visit our website at www.enterprisecommunity.org.The Enterprise Community Loan Fund has an immediate opening for a Credit Analyst position. The position would have lending and portfolio responsibilities throughout Enterprise’s national footprint and can be based in the following locations New York, New York; Seattle, WA; Los Angeles or San Francisco, CA or Denver, CO. Please indicate which location you are interested working at?

Position Summary:

Reporting to the Director of Lending, the Credit Analyst is responsible for a variety of tasks associated with supporting ECLF’s Loan Officers, Director of Lending, Chief Lending Officer (CLO) and Chief Credit Officer (CCO) in underwriting, closing, and asset management of community development loans with particular emphasis on affordable housing and community facilities. In particular, the Credit Analyst will support the Loan Officers by performing financial analyses, third party review assessments, site visits, and various asset management tasks including but not limited to covenant compliance, financial reporting, loan modifications and annual reviews.

Responsibilities:

Specific responsibilities include:

• Produce financial analysis of both for- and non-profit sponsors and/or guarantors.
• Support Loan Officers by conducting thorough due diligence review and evaluation of various aspects of loan underwriting such as evaluating feasibility and likelihood of repayment sources,
appraisal reviews, construction cost reviews, property condition reports, environmental reports and site inspections.
• Participate in the loan closing process by reviewing loan documents and/or due diligence items required to close a loan.
• Support the portfolio management function by providing financial analysis of existing sponsors, completing portfolio reviews, completing recommendations for modifications, drafting simple
modifications, assisting with workout plans for troubled loans, reviewing loans for covenant compliance and performing site visits.
• Assist with other projects as needed.

Requirements:

• Undergraduate degree in business, finance, real estate, urban planning or related field is required; advanced degree in business, finance or related field preferred.
• Three ﴾3﴿ years of work experience. An advanced degree in business, finance, real estate, urban planning o related field can substitute for 2 of the 3 years of required work experience.
• Experience in real estate-based or business lending, including credit analysis.
• Proficiency in analyzing financials of nonprofit and for-profit organizations and real estate operations (in particular, rental housing and community facilities).
• Experience with reviewing due diligence items required to close real estate transactions including but not limited to appraisals, environmental, and construction cost review reports.
• Knowledge of the closing process and loan documents utilized in real estate transactions.
• Familiarity with federal, state, and local government funding sources for capital and operating needs of multi-family housing, special needs housing, and community facilities (e.g. LIHTC, HUD programs, etc.) desired.
• Experience working with both private sector financial institutions and public agencies.
• Excellent written and verbal communication skills are required.
• Strong computer aptitude skills, including knowledge of Microsoft Office Suite Programs are essential.
• Excellent skills in managing multiple tasks requiring strong attention to detail
• Ability to work effectively in a team environment.
• Ability to travel.

Compensation:

Commensurate with experience

How to Apply:

https://careers.enterprisecommunity.com/

Credit Analyst Enterprise Community Loan Fund (ECLF)
New York, NY
Job Function: Financial Services
Posted: October 3, 2019

Background:

Enterprise Community Loan Fund (ECLF) is a certified community development financial institution and a member of the Enterprise family of companies. Since its founding in 1982, Enterprise, our controlling entity, has raised and deployed more than $43.6B in equity, grants and loans to support low income people and low-income communities including building or preserving nearly 585,000 affordable rental homes. For more information about Enterprise, please visit our website at www.enterprisecommunity.org.The Enterprise Community Loan Fund has an immediate opening for a Credit Analyst position. The position would have lending and portfolio responsibilities throughout Enterprise’s national footprint and can be based in the following locations New York, New York; Seattle, WA; Los Angeles or San Francisco, CA or Denver, CO. Please indicate which location you are interested working at?

Position Summary:

Reporting to the Director of Lending, the Credit Analyst is responsible for a variety of tasks associated with supporting ECLF’s Loan Officers, Director of Lending, Chief Lending Officer (CLO) and Chief Credit Officer (CCO) in underwriting, closing, and asset management of community development loans with particular emphasis on affordable housing and community facilities. In particular, the Credit Analyst will support the Loan Officers by performing financial analyses, third party review assessments, site visits, and various asset management tasks including but not limited to covenant compliance, financial reporting, loan modifications and annual reviews.

Responsibilities:

Specific responsibilities include:

• Produce financial analysis of both for- and non-profit sponsors and/or guarantors.
• Support Loan Officers by conducting thorough due diligence review and evaluation of various aspects of loan underwriting such as evaluating feasibility and likelihood of repayment sources,
appraisal reviews, construction cost reviews, property condition reports, environmental reports and site inspections.
• Participate in the loan closing process by reviewing loan documents and/or due diligence items required to close a loan.
• Support the portfolio management function by providing financial analysis of existing sponsors, completing portfolio reviews, completing recommendations for modifications, drafting simple
modifications, assisting with workout plans for troubled loans, reviewing loans for covenant compliance and performing site visits.
• Assist with other projects as needed.

Requirements:

• Undergraduate degree in business, finance, real estate, urban planning or related field is required; advanced degree in business, finance or related field preferred.
• Three ﴾3﴿ years of work experience. An advanced degree in business, finance, real estate, urban planning o related field can substitute for 2 of the 3 years of required work experience.
• Experience in real estate-based or business lending, including credit analysis.
• Proficiency in analyzing financials of nonprofit and for-profit organizations and real estate operations (in particular, rental housing and community facilities).
• Experience with reviewing due diligence items required to close real estate transactions including but not limited to appraisals, environmental, and construction cost review reports.
• Knowledge of the closing process and loan documents utilized in real estate transactions.
• Familiarity with federal, state, and local government funding sources for capital and operating needs of multi-family housing, special needs housing, and community facilities (e.g. LIHTC, HUD programs, etc.) desired.
• Experience working with both private sector financial institutions and public agencies.
• Excellent written and verbal communication skills are required.
• Strong computer aptitude skills, including knowledge of Microsoft Office Suite Programs are essential.
• Excellent skills in managing multiple tasks requiring strong attention to detail
• Ability to work effectively in a team environment.
• Ability to travel.

Compensation:

Commensurate with experience

How to Apply:

https://careers.enterprisecommunity.com/

Asset Manager Corporation for Supportive Housing
New York, NY
Job Function: Lending/Loan Operations
Posted: October 1, 2019

Background:

Who we are:
For over 25 years CSH has been a game-changer for the most vulnerable people in our country
- Helping communities create 300,000 homes for individuals and families who did not have one;
- Bringing hope to thousands who thought they would live on the streets or reside in institutions; and
- Ensuring not only a stable home for each, but access to the services that brought healthcare, recovery and training to their doorsteps.

Not only has CSH proven supportive housing works and changes the lives of individuals, families and communities, we have done so while creating a family of nationally recognized experts who stay committed to our organization and mission throughout their careers. We attract talented professionals, offer competitive salaries with benefits, generous family leave and PTO, and fully embrace the philosophy that a sustainable work-life balance is desirable and achievable. With the aim of attracting good people who possess the confidence and drive to get the job done, CSH is now accepting applications for an Asset Manager to support our New Market Tax Credit program.

Position Summary:

Why we need you:
CSH is seeking an enthusiastic, results-oriented individual. The Asset Manager will ensure compliance with the CDFI Fund’s requirements for the New Market Tax Credit Program. Working with our Loan Portfolio Team, this position is located in CSH’s New York Office.

Responsibilities:

What you will do:
• Ensure program compliance: Collect and review community impact reporting into CIIS, the annual Community Benefit (CBA) report from QALICBs and the asset management report regarding closed projects for the NMTC Advisory Board, Internal Management and the Board of Directors.
• Monitor project performance and assess risk through review of periodic reporting from QALICBs and guarantors (i.e. monthly draws, quarterly financials) and coordinate with the NMTC team, investors and other sub-CDEs as needed on issues relating to compliance and/or to mitigate risks.
• Assist with the organization’s NMTC application and in finalizing related allocation agreements.
• Assist with project closings, reviewing the project financial model and key legal documents related to loan servicing, compliance/reporting, and disbursement processes for accuracy; coordinate with Finance to establish and manage sub-CDE general ledgers and bank accounts; and work with external auditors and tax accounts to ensure program compliance at closing.
• Service NMTC Loans, including loan data management, interest, fee and tax payments, and construction draw reviews and approval.
• Prepare all required accounting and financial reporting; coordinate and prepare work papers for annual financial audits, tax department and annual tax filings; and oversee investor reporting.
• Creatively support the NMTC program by identifying solutions, offer ideas for improved systems, assist in the preparation of program budget and expenses, and complete special projects as needed and assigned.

Requirements:

How we work:
All CSH staff share a common competency framework. These guide our approach and in turn, help us create value. CSH staff are adaptable, entrepreneurial, creative, flexible, and problem solvers. We are strategic thinkers with a sense of humor, persistence, and a commitment to treating others with respect.
• Successful candidates will be adaptive, entrepreneurial problem solvers with a demonstrated commitment to social justice. CSH seeks candidates driven by strategic thinking, executed with creativity and flexibility, and with an ability to adapt approach, strategy, and tactics rapidly in response to changing information or program needs. It is important to help articulate and strategically pursue new visions and ideas for supportive housing and the role it can play in solving complex problems.
• 3-years minimum experience in asset/portfolio management, project development, and/or non-profit lending. Experience in loan servicing and/or compliance a plus.
• Past experience in reading legal documents and managing compliance and community impact reporting related to public funding sources is desired. Familiarity with community and economic development programs is a plus. Prior experience with New Market Tax Credits is a plus, but not required.
• Candidates must be organized, analytic, detail-oriented, and comfortable working with numbers/data. Excellent written and verbal communication skills are needed with an aptitude for managing multiple assignments and meeting deadlines.
• Experience incorporating the perspectives of multiple communities, including communities of color, in the consideration of impacts and outcomes of a decision-making process.
• Strong analytical, interpersonal, presentation and written and verbal communication skills with the ability to present to diverse audiences, specifically racially, ethnically and socially diverse communities.
• CSH uses Microsoft Office programs (Word, Excel, Power Point, Access, Outlook) so a mastery of these products is required.
• Prior experience with loan servicing and monitoring software is preferred.
• Bachelor’s degree or equivalent experience of education and experience.

Compensation:

Commensurate with experience

How to Apply:

Interested in joining our team as a leader in the national supportive housing movement?
To Apply:
Candidates should apply by clicking on the link below. All candidates should attach their Resume, Cover Letter and Salary Expectations as one Microsoft Word or PDF document.
https://csh.csod.com/ats/careersite/jobdetails.aspx?site=1&c=csh&id=115&...
CSH is proud that it has been and always will be an Equal Opportunity Employer

Community Development Loan Officer Cinnaire
Wilmington, DE
Job Function: Lending/Loan Operations
Posted: October 1, 2019

Background:

Cinnaire has an unwavering belief that all people deserve the opportunities provided by living in healthy communities. That is the “Why” that guides all of Cinnaire’s activities. At Cinnaire, our human capital is our most valuable asset. We are committed to fostering and preserving a culture of diversity, inclusion, and fairness. We strive to provide an environment that empowers the authentic expression of diverse voices and celebrates a workforce that reflects the communities we serve.

Specifically, Cinnaire is a nonprofit partner based in Lansing, MI that supports community stabilization and economic development by developing and nurturing partnerships that can change lives and transform communities in the Great Lakes and Mid-Atlantic regions. Founded in Michigan in 1993, Cinnaire launched a tax credit fund to support much needed affordable housing in Detroit and surrounding areas. In 2002, Cinnaire created Cinnaire Lending Community Development Financial Institution (CDFI) to address the significant needs of its partners that struggled to find flexible capital to get housing projects off the ground. Twenty-five years later Cinnaire has expanded to close to 100 team members with 7 offices and programs in 9 states, partnering with community organizations to support creation/retention of 81,000 Jobs, 653 affordable housing projects, and improving lives of 97,000 low- and moderate-income Individuals.

The organization does its work through four broad divisions: Its Equity Group manages its Low Income Housing platform, as well as other innovative capital solutions; Cinnaire Lending, provides debt financing for affordable housing (LIHTC) and other community development projects, including the FHLB Affordable Housing Program grant subsidies and the management of the New Markets Tax Credit program; Cinnaire Solutions provides consulting support to a broad range of community development projects and can serve as a full-service financial partner or as a master developer for innovative community development projects; Cinnaire Title offers title insurance services and full escrow services throughout the Cinnaire footprint. The current search is part of a new initiative within Cinnaire Lending, creating a new capacity for financing smaller scale but impactful community development projects in targeted priority areas. Through an extensive strategic planning process, Cinnaire has identified three geographic areas as its Priority Cities (Detroit, MI; Wilmington, DE; and La Crosse, WI). Cinnaire expects to initially focus on these three cities and then replicate its community development lending initiatives to other parts of its footprint in future years.

Position Summary:

Cinnaire is seeking Community Development Loan Officers (CDLO) for its new Community Development lending program, a key driver of future growth for the organization. This search represents an opportunity to join this national leader in community development finance as it continues to build out a new community lending program in newly targeted communities in Detroit, Michigan and Wilmington, Delaware.

The CDLO is a new position which is being created to meet Cinnaire Lending program deployment and portfolio performance goals for a specified market, either the Wilmington, Delaware, Detroit, Michigan and La Crosse, Wisconsin markets. The new program is intended to focus on smaller affordable housing projects and other community development projects, such as community facilities which are not served by other existing Cinnaire programs.

Responsibilities:

1. Implement target market outreach and business development strategies and activities to build a robust pipeline of community financing projects that create Cinnaire’s desired impact in the target market.
2. Originate community development loans, including underwriting and structuring of loans, managing the approval process, including loan committee(s) presentation(s) and collaborating with the portfolio management team to facilitate closings.
3. Provide technical assistance to strengthen the loan application of borrowers and support improved capacity of borrowers to repay the loan.
4. Maintain uninterrupted borrower relationships to ensure proactive management of potential problems and repayment of Cinnaire capital.

Requirements:

· Demonstrated competency in community development and non-profit lending, cash flow and project analysis, underwriting, structuring and lending policies and procedures.
· Solid understanding of the local and regional target market government, non-profit community, economic development and real estate market dynamics.
· Proactive work style along with the ability to work in a team environment.
· Excellent organizational and prioritization skills – strong detail orientation
· Ability to communicate effectively and work collaboratively in a multicultural environment.
· High-level written and oral communication and presentation skills.
· Proficient computer software skills, including spreadsheets and databases
· Minimum of 5 years of experience in community development lending that includes knowledge of non-profit and developer issues, cash management and underwriting.
· A Bachelor’s degree in accounting, business, community development, finance or urban planning is preferred.
· Established and engaged community development network in the target market preferred.

Compensation:

The position carries a competitive salary with growth potential, as well as a comprehensive benefits package.

How to Apply:

For more information, please contact our search consultant, David Erickson-Pearson at 303-703-6165, or epdavid@earthlink.net. To apply, please submit resume, cover letter and salary requirements to epdavid@earthlink.net.

Community Development Loan Officer Cinnaire Corporation
Detroit, MI
Job Function: Lending/Loan Operations
Posted: October 1, 2019

Background:

Cinnaire has an unwavering belief that all people deserve the opportunities provided by living in healthy communities. That is the “Why” that guides all of Cinnaire’s activities. At Cinnaire, our human capital is our most valuable asset. We are committed to fostering and preserving a culture of diversity, inclusion, and fairness. We strive to provide an environment that empowers the authentic expression of diverse voices and celebrates a workforce that reflects the communities we serve.

Specifically, Cinnaire is a nonprofit partner based in Lansing, MI that supports community stabilization and economic development by developing and nurturing partnerships that can change lives and transform communities in the Great Lakes and Mid-Atlantic regions. Founded in Michigan in 1993, Cinnaire launched a tax credit fund to support much needed affordable housing in Detroit and surrounding areas. In 2002, Cinnaire created Cinnaire Lending Community Development Financial Institution (CDFI) to address the significant needs of its partners that struggled to find flexible capital to get housing projects off the ground. Twenty-five years later Cinnaire has expanded to close to 100 team members with 7 offices and programs in 9 states, partnering with community organizations to support creation/retention of 81,000 Jobs, 653 affordable housing projects, and improving lives of 97,000 low- and moderate-income Individuals.

The organization does its work through four broad divisions: Its Equity Group manages its Low Income Housing platform, as well as other innovative capital solutions; Cinnaire Lending, provides debt financing for affordable housing (LIHTC) and other community development projects, including the FHLB Affordable Housing Program grant subsidies and the management of the New Markets Tax Credit program; Cinnaire Solutions provides consulting support to a broad range of community development projects and can serve as a full-service financial partner or as a master developer for innovative community development projects; Cinnaire Title offers title insurance services and full escrow services throughout the Cinnaire footprint. The current search is part of a new initiative within Cinnaire Lending, creating a new capacity for financing smaller scale but impactful community development projects in targeted priority areas. Through an extensive strategic planning process, Cinnaire has identified three geographic areas as its Priority Cities (Detroit, MI; Wilmington, DE; and La Crosse, WI). Cinnaire expects to initially focus on these three cities and then replicate its community development lending initiatives to other parts of its footprint in future years.

Position Summary:

Cinnaire is seeking Community Development Loan Officers (CDLO) for its new Community Development lending program, a key driver of future growth for the organization. This search represents an opportunity to join this national leader in community development finance as it continues to build out a new community lending program in newly targeted communities in Detroit, Michigan and Wilmington, Delaware.

The CDLO is a new position which is being created to meet Cinnaire Lending program deployment and portfolio performance goals for a specified market, either the Wilmington, Delaware, Detroit, Michigan and La Crosse, Wisconsin markets. The new program is intended to focus on smaller affordable housing projects and other community development projects, such as community facilities which are not served by other existing Cinnaire programs.

Responsibilities:

1. Implement target market outreach and business development strategies and activities to build a robust pipeline of community financing projects that create Cinnaire’s desired impact in the target market.
2. Originate community development loans, including underwriting and structuring of loans, managing the approval process, including loan committee(s) presentation(s) and collaborating with the portfolio management team to facilitate closings.
3. Provide technical assistance to strengthen the loan application of borrowers and support improved capacity of borrowers to repay the loan.
4. Maintain uninterrupted borrower relationships to ensure proactive management of potential problems and repayment of Cinnaire capital.

Requirements:

· Demonstrated competency in community development and non-profit lending, cash flow and project analysis, underwriting, structuring and lending policies and procedures.
· Solid understanding of the local and regional target market government, non-profit community, economic development and real estate market dynamics.
· Proactive work style along with the ability to work in a team environment.
· Excellent organizational and prioritization skills – strong detail orientation
· Ability to communicate effectively and work collaboratively in a multicultural environment.
· High-level written and oral communication and presentation skills.
· Proficient computer software skills, including spreadsheets and databases
· Minimum of 5 years of experience in community development lending that includes knowledge of non-profit and developer issues, cash management and underwriting.
· A Bachelor’s degree in accounting, business, community development, finance or urban planning is preferred.
· Established and engaged community development network in the target market preferred.

Compensation:

The position carries a competitive salary with growth potential, as well as a comprehensive benefits package.

How to Apply:

For more information, please contact our search consultant, David Erickson-Pearson at 303-703-6165, or epdavid@earthlink.net. To apply, please submit resume, cover letter and salary requirements to epdavid@earthlink.net.

Law Clerk Cinnaire Corporation
Detroit, MI
Job Function: Other
Posted: October 1, 2019

Background:

Cinnaire has an unwavering belief that all people deserve the opportunities provided by living in healthy communities. That is the “Why” that guides all of Cinnaire’s activities. At Cinnaire, our human capital is our most valuable asset. We are committed to fostering and preserving a culture of diversity, inclusion, and fairness. We strive to provide an environment that empowers the authentic expression of diverse voices and celebrates a workforce that reflects the communities we serve.

Specifically, Cinnaire is a nonprofit partner based in Lansing, MI that supports community stabilization and economic development by developing and nurturing partnerships that can change lives and transform communities in the Great Lakes and Mid-Atlantic regions. Founded in Michigan in 1993, Cinnaire launched a tax credit fund to support much needed affordable housing in Detroit and surrounding areas. In 2002, Cinnaire created Cinnaire Lending Community Development Financial Institution (CDFI) to address the significant needs of its partners that struggled to find flexible capital to get housing projects off the ground. Twenty-five years later Cinnaire has expanded to close to 100 team members with 7 offices and programs in 9 states, partnering with community organizations to support creation/retention of 81,000 Jobs, 653 affordable housing projects, and improving lives of 97,000 low- and moderate-income Individuals.

The organization does its work through four broad divisions: Its Equity Group manages its Low Income Housing platform, as well as other innovative capital solutions; Cinnaire Lending, provides debt financing for affordable housing (LIHTC) and other community development projects, including the FHLB Affordable Housing Program grant subsidies and the management of the New Markets Tax Credit program; Cinnaire Solutions provides consulting support to a broad range of community development projects and can serve as a full-service financial partner or as a master developer for innovative community development projects; Cinnaire Title offers title insurance services and full escrow services throughout the Cinnaire footprint.

Position Summary:

Law Clerk will assist General Counsel (and other legal staff) with various legal projects primarily in the areas of business entities, employment and real estate.

Responsibilities:

The primary focus for the position initially will be in maintaining and updating corporate records. This project will entail completing a comprehensive review and reorganization of the records of various corporations, partnerships and limited liability companies in the Cinnaire organization, including but not limited to reviewing and indexing corporate minutes, resolutions and other documents; reorganizing corporate records in both electronic and hard copy formats as needed; and, preparing and filing corporate and other business entity documents. Law Clerk will also assist General Counsel in preparing a library of legal forms, reviewing and organizing other company contracts and documents and such other legal projects in the areas of real estate and employment law as needed.

Requirements:

Job Requirements:

• Candidate must have completed first year of law school and course work in Business Entities and Property Law with a grade of 3.0 or better and have an overall grade point average of 2.75 or better.
• Candidate must have at least intermediate skill level In Microsoft Office, particularly Word, Excel and Outlook.
• Position may occasionally require travel between Cinnaire’s Detroit office and Lansing headquarters.
• Position will require candidate to work 15-20 hours per week.

Materials requested (in addition to cover letter and resume):

• Law school transcript
• Writing sample

Compensation:

Please provide desired salary during application process.

How to Apply:

https://workforcenow.adp.com/mascsr/default/mdf/recruitment/recruitment....

Development Manager, Cinnaire Solutions Cinnaire Solutions Corporation
Wilmington, DE
Job Function: Other
Posted: October 1, 2019

Background:

Cinnaire Solutions is Cinnaire’s real estate development affiliate and a stand-alone 501(c)3 nonprofit developer. It supports communities through innovative development planning and execution by merging its capacity and experience with its vision and human capital.

At Cinnaire, our human capital is our most valuable asset. We are committed to fostering and preserving a culture of diversity, inclusion, and fairness. We strive to provide an environment that empowers the authentic expression of diverse voices and celebrates a workforce that reflects the communities we serve.

Position Summary:

The Development Manager (DM) is responsible for leading and driving development work in assigned markets, and manages development project progression or supervises third-party consultants towards that end. The DM works closely with the President of Cinnaire Solutions and Priority City Leaders on all matters related to the organization’s real estate development work, and manages and coordinates the implementation of development projects.

Responsibilities:

1. Developing a robust pipeline of real estate development opportunities in assigned geographies and helping the organization achieve self-sufficiency through fee income.
2. Overseeing timely and efficient progress on all projects, and working closely with third-party development partners toward successful and profitable completion.
3. Developing and maintaining those relationships required to monitor, cultivate and secure future development opportunities, and supporting partnership activities.
4. Providing leadership, guidance, and support to teams of highly-skilled consultants, architects, general contractors, attorneys, accountants, and consultants.
5. Representing the organization at speaking engagements, public hearings, and other public forums.

Requirements:

Qualifications:

1. Prior experience developing real estate required.
2. Six years’ experience in real estate analysis preferred.
3. Experience in developing feasibility analyses, creating and managing pro formas, monitoring project budgets and timelines required.
4. Knowledge of real estate development best practices related to multi- and single-family affordable housing development and innovative neighborhood planning and community revitalization strategies required.
5. Experience with and working understanding of various CDFI and industry tools (grants, LIHTCs, NMTCs, CDBG, HOME, FHLB-AHP, historic credits, and energy credits) preferred.
6. Proficient in Microsoft Office Suite required.
7. Experience with ESRI, GIS and Adobe Creative Cloud beneficial
8. Associate’s or Bachelor’s degree in real estate, legal, paralegal, business, or similar degree preferred.

Desired Essential Skills & Competencies:

1. Track record of successful project completion on or ahead of schedule, on budget, with maximum financial return, highest quality, and greatest community impact – including the ability to effectively communicate with and manage a third-party team.
2. Resourcefulness and strategic thinking to overcome obstacles to secure appropriate resources.
3. Excellent analysis and problem-solving skills.
4. Superior level of accuracy, organization, and attention to detail.
5. Strong negotiation and collaboration skills.
6. Skilled in leading, inspiring, and supporting highly effective teams of professionals.
7. Excellent relationship-building skills and a customer service orientation that leads to sustainable and mutually beneficial external partnerships.

Compensation:

Please provide desired salary during application process.

How to Apply:

https://workforcenow.adp.com/mascsr/default/mdf/recruitment/recruitment....

Analyst Cinnaire Corporation
WILMINGTON, DE
Job Function: Underwriting
Posted: October 1, 2019

Background:

Cinnaire has an unwavering belief that all people deserve the opportunities provided by living in healthy communities. That is the “Why” that guides all of Cinnaire’s activities. At Cinnaire, our human capital is our most valuable asset. We are committed to fostering and preserving a culture of diversity, inclusion, and fairness. We strive to provide an environment that empowers the authentic expression of diverse voices and celebrates a workforce that reflects the communities we serve.

Specifically, Cinnaire is a nonprofit partner based in Lansing, MI that supports community stabilization and economic development by developing and nurturing partnerships that can change lives and transform communities in the Great Lakes and Mid-Atlantic regions. Founded in Michigan in 1993, Cinnaire launched a tax credit fund to support much needed affordable housing in Detroit and surrounding areas. In 2002, Cinnaire created Cinnaire Lending Community Development Financial Institution (CDFI) to address the significant needs of its partners that struggled to find flexible capital to get housing projects off the ground. Twenty-five years later Cinnaire has expanded to close to 100 team members with 7 offices and programs in 9 states, partnering with community organizations to support creation/retention of 81,000 Jobs, 653 affordable housing projects, and improving lives of 97,000 low- and moderate-income Individuals.

The organization does its work through four broad divisions: Its Equity Group manages its Low Income Housing platform, as well as other innovative capital solutions; Cinnaire Lending, provides debt financing for affordable housing (LIHTC) and other community development projects, including the FHLB Affordable Housing Program grant subsidies and the management of the New Markets Tax Credit program; Cinnaire Solutions provides consulting support to a broad range of community development projects and can serve as a full-service financial partner or as a master developer for innovative community development projects; Cinnaire Title offers title insurance services and full escrow services throughout the Cinnaire footprint.

Position Summary:

The Analyst will assist in the underwriting of real estate debt and equity investments, including commercial real estate, affordable and market rate housing, and community facilities. The Analyst will support the business development staff by providing feedback regarding underwriting feasibility of these products and by assisting in the efficient acquisition of loans and investments.

Responsibilities:

1. Review and update financial proformas for potential real estate loans or investments and ensure the accuracy and competitiveness of same.
2. Determine initial loan sizing and compare different loan products to determine the appropriate and most competitive product to offer.
3. Initial determination of the financial strength and capacity of the key principal and other members of the development team.
4. Review the market study and/or appraisal to determine the following:
o Sufficient demand exists to support the proposed loan or investment
o Proposed rents appear reasonable
o Occupancy levels at comparable properties
o Acceptable Loan to Value Ratio
5. Assess the reasonableness of operating expense assumptions by using comparable data from Cinnaire portfolio, appraisal, and data provided by the developer and/or management agent or other sources.
6. Identify potential underwriting issues and mitigants associated with potential loans or investments.
7. Identify factors of the proposed loan or investment that differ from standard underwriting guidelines and criteria, including those that may require a waiver from the investor.
8. Communicate effectively with Cinnaire Business Development staff and VP of Underwriting regarding the results of the initial feasibility analysis.
9. Track deals through the initial feasibility process, until a letter of intent or commitment letter is issued, and the deal is transferred to underwriting.
10. Maintain the integrity and accuracy of the Cinnaire Pipeline Tracker by updating contents on a regular basis.
11. Prepare loan applications and commitment letters for proposed loans.
12. Prepare letters of intent and commitment letters for proposed investments.
13. Assist Business Development and underwriting staff in negotiating loan applications, letters of intent and/or commitment letters for proposed loans and equity investments.
14. Ensure the efficient transition of proposed loans and investments from Business Development staff to Underwriting staff by communicating relevant information to the Cinnaire underwriting and closing team.
15. Assist Business Development staff is developing and maintaining relationships with partners.
16. Establish and maintain the computer file structure for access by Cinnaire staff.
17. Assist product managers in gathering proposed investment information as requested for potential investors.
18. Participate in industry activities, including conferences, trade shows, education opportunities, and other events that will benefit Cinnaire business relations.
19. Participate in departmental staff meetings and company-wide staff meetings.
20. Assess policies and procedures of the underwriting department to assist in continually improving the performance of the department.
21. Maintain a professional appearance and presence at all times.
22. Perform other duties which may be requested by Cinnaire management and/or executive staff.
23. Other duties as needed or required.

Requirements:

• Excellent communication, organizational and interpersonal skills, as well as the ability to work under tight deadlines, manage priorities, and complete assigned tasks with minimal management follow up.
• Keen analytical skills and attention to detail.
• Bachelor Degree in Finance, Accounting, Economics, Business or Real Estate/Urban Planning.
• Ability to model financial investments including expected cash flow and return on investment.
• Strong PC (Excel, Word, Database) skills are required.
• Previous experience with loan underwriting and structuring real estate transactions is a plus but not a requirement.
• Prior experience and/or knowledge of financial programs and products designed to expand the availability of affordable housing or community economic development is a plus but not a requirement. Such programs include Low Income Housing Tax Credits, New Market Tax Credits, Historic Tax Credits, Federal Grants from Housing and Urban Development, Fannie Mae lending, and other such CDFI activities.
• Ability to sit for long periods of time while working on a computer.

Compensation:

Please provide desired salary during application process.

How to Apply:

https://workforcenow.adp.com/mascsr/default/mdf/recruitment/recruitment....

Loan Servicing Specialist Cinnaire Corporation
Lansing, MI
Job Function: Financial Services
Posted: October 1, 2019

Background:

Cinnaire has an unwavering belief that all people deserve the opportunities provided by living in healthy communities. That is the “Why” that guides all of Cinnaire’s activities. At Cinnaire, our human capital is our most valuable asset. We are committed to fostering and preserving a culture of diversity, inclusion, and fairness. We strive to provide an environment that empowers the authentic expression of diverse voices and celebrates a workforce that reflects the communities we serve.

Specifically, Cinnaire is a nonprofit partner based in Lansing, MI that supports community stabilization and economic development by developing and nurturing partnerships that can change lives and transform communities in the Great Lakes and Mid-Atlantic regions. Founded in Michigan in 1993, Cinnaire launched a tax credit fund to support much needed affordable housing in Detroit and surrounding areas. In 2002, Cinnaire created Cinnaire Lending Community Development Financial Institution (CDFI) to address the significant needs of its partners that struggled to find flexible capital to get housing projects off the ground. Twenty-five years later Cinnaire has expanded to close to 100 team members with 7 offices and programs in 9 states, partnering with community organizations to support creation/retention of 81,000 Jobs, 653 affordable housing projects, and improving lives of 97,000 low- and moderate-income Individuals.

The organization does its work through four broad divisions: Its Equity Group manages its Low Income Housing platform, as well as other innovative capital solutions; Cinnaire Lending, provides debt financing for affordable housing (LIHTC) and other community development projects, including the FHLB Affordable Housing Program grant subsidies and the management of the New Markets Tax Credit program; Cinnaire Solutions provides consulting support to a broad range of community development projects and can serve as a full-service financial partner or as a master developer for innovative community development projects; Cinnaire Title offers title insurance services and full escrow services throughout the Cinnaire footprint.

Position Summary:

The Loan Servicing Specialist II is part of the Portfolio Management Team. This role is responsible for booking and servicing commercial and residential real estate loans and will serve internal and external clients by answering questions, problem solving, and delivering services on time.

Responsibilities:

1. Performs a variety of loan transactions including payments, payoffs, various escrow transactions, loan disbursements and transfers.
2. Serves as point person for communications with borrowers.
3. Prepares monthly direct billing for loan portfolio.
4. Assists with entering loans into loan servicing software ensuring accuracy of the loan data.
5. Coordinates and pays escrow accounts including assisting with an annual escrow analysis.
6. Responsible for monitoring property tax, insurance and replacement reserves for the loan portfolio.
7. Coordinates monthly transfers of Fannie Mae escrow balances with the finance department.
8. Responsible for monthly balance transfers of commercial lending products to the finance department.
9. Creates loan amortization schedules in the loan servicing system post-closing.
10. Responsible for the creation and disbursement of annual borrower statements.
11. Serves as the internal expert of the organization’s loan servicing software (LFN) and is able to troubleshoot and resolve issues that arise across loan portfolio.
12. Lead for drafting, review, and updating internal loan servicing policies and procedural documents to ensure that current best practices are maintained, and procedures are documented and followed.
13. Works on special projects as assigned.

Requirements:

• Bachelor's degree required.
• Three or more years’ experience in loan servicing.
• Strong analytical skills are required.
• Commercial and/or residential real estate experience preferred.
• Excellent customer service skills.

Compensation:

Please provide desired salary during application process.

How to Apply:

https://workforcenow.adp.com/mascsr/default/mdf/recruitment/recruitment....

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