Loan Officer

VISION STATEMENT: People in every community have an affordable place to live and opportunities to thrive.

MISSION STATEMENT: We work with partners to connect underserved communities in the northern New England region with capital and expertise to advance projects and policies that create more inclusive places to live.

SUMMARY:

The Loan Officer is responsible for all aspects of the loan process from origination through closing including marketing and new business development, origination, underwriting, credit write-up and approval, closing and loan funding in coordination with other team members. The Loan Officer coordinates internally among Evernorth departments and works directly with external professionals, including borrowers, legal counsel, other lenders, syndicators and representatives of partner agencies and organizations to ensure Loan Fund programs and financings are carried out efficiently and in compliance with all applicable requirements. 

RESPONSIBILITIES:

Business Development: Work with the Director of Lending and the Community Investments department to cultivate lending prospects by developing and maintaining external relationships with industry partners, including real estate owners and developers, public agencies, and community organizations to advance organizational initiatives, strategic goals, and priorities. 

• Stay abreast of federal and state programs and funding opportunities for affordable housing development including Low-Income Housing Tax Credits, Tax Exempt Bonds, HOME, Section 8, USDA-RD Section 515. 
• Attend partner networking and professional development events; share expertise by serving on panels and making presentations as appropriate.

Loan Origination: Ensure prompt and thorough review of financing requests.

• Review loan applications and gather initial due diligence items needed for loan underwriting and financing approval.
• Conduct preliminary pro forma analysis to assess project feasibility and credit quality; conformance with existing loan products, policies, and underwriting standards; and alignment with strategic priorities and social impact goals.
• Prepare project feasibility and credit underwriting memo for presentation to Credit and Loan Committees.
• Prepare and circulate loan commitment letters for review and execution.

Loan Closing: Facilitate timely closing and funding of loans in accordance with approved financing terms.

• Facilitate collection of final due diligence items from borrowers and coordinate with other team members and departments to ensure timely and accurate closings of loans.
• Work with attorneys and other team members to prepare and finalize loan documents.
• Review closing statements and requests for initial advances on loans.
• Prepare hand-off memo to ensure smooth transition to team members handling ongoing loan servicing, compliance, and asset management. 

Business Process Improvement: Assist in establishing, communicating, and maintaining efficient and effective workflows to carry out production and administration of loans.

• Collaborate with team members to promote continuous business process improvement with a focus on customer-service and community impact.
• Participate as needed with internal working groups to develop and implement data systems and tools to improve efficiency, accuracy, customer service, and measure impact.
• Report on origination activity and provide updates as required for effective program management and committee/board oversight.

SUPERVISES:   None

REPORTS TO:  Director of Lending

REQUIRED EDUCATION & EXPERIENCE:

• Bachelor’s Degree or equivalent experience
• At least 3 years of professional experience in multifamily real estate finance, development, and/or affordable housing finance program administration   

PREFERRED QUALIFICATIONS AND EXPERIENCE:

• 5 or more years of professional multifamily real estate finance and/or affordable housing and community development lending.
• Professional experience with a CDFI.
• Working knowledge of affordable housing finance programs such as:
  1. state agency financing programs,
  2. federal low-income housing tax credits and tax-exempt bonds,
  3. HUD and USDA-RD federally subsidized mortgage products,
  4. Freddie Mac and Fannie Mae affordable housing products.
• Proven track record of effective project management involving multiple objectives, stakeholders, and programs.
• Exceptional technology skills including experience with Loan Servicing software and loan portfolio data management and tracking.

ESSENTIAL JOB SKILLS:

• Proficiency in Office 365 Suite
• Ability to understand and analyze legal documents associated with real estate finance.
• Analytical skills and attention to detail.
• Ability to plan, schedule, and prioritize responsibilities, work under pressure to meet strict deadlines, and consistently produce high quality work products.
• Ability to work both independently and collaboratively.
• Adaptability to changes in operating environment and new initiatives. 
• Ability to travel (20-25%) throughout Evernorth’s service area including the states of Maine, New Hampshire, and Vermont.
• Personal maturity, highly professional social skills, ability to remain objective, rational, and discrete in stressful situations such as business negotiations, resolving differences of opinion, completing complex transactions, and collaborating with multiple internal and external stakeholders.
• Interpersonal skills necessary to deal effectively with internal and external customers.
• Excellent oral communication skills, writing and publication skills.

The following are the general Evernorth work environment and physical demands:

• Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions of this position.
• The noise level in the office work environment is usually quiet.
• The noise level at the job site is usually moderate to noisy.
• This position requires periods of sitting, standing, walking, stooping, and bending.
• Ability to reach with hands and arms and talk and hear.
• Specific vision abilities required by this job include close, distance and peripheral vision, depth perception and ability to adjust focus.
• This position requires substantial typing, reading, and writing emails, and other related computer work.
• The employee is regularly required to use hands and fingers. 
• Requires driving to meetings in personal car.
• May require lifting to 20 pounds.

Evernorth is an equal opportunity employer.