Under the general direction of the Compliance Resolution Program (CRP) Section Chief, the incumbent independently provides high-level expertise, research and analysis on technical aspects of the programs and policies of the Division of State Financial Assistance (DSFA). The incumbent functions as an advisor and lead staff to assist with resolving complex non-compliance issues of Department-funded projects and develop policies and procedures for CRP and the Asset Management and Compliance (AMC) Branch.
- Experience in real estate financing, rental loan underwriting, drafting loan documents, and the escrow process.
- Experience in underwriting affordable rental housing projects, affordable housing finance and loan programs, Department programs, and familiarity with the principles of nonprofit organizations’ finance and administration.
- Experience with legal aspects of real estate and escrow transactions, including defaults and foreclosures.
- Experience in negotiating complex, multi-party transactions.
- Experience in effectively interpreting State and federal regulations.
- Experience with policy development and implementation, drafting regulations, procedures and training.
- Experience preparing presentational reports using large data sets.
- Experience with Microsoft Excel, Word and Outlook, and other databases.
- Strong ability to research problems and find solutions.
- Ability to communicate effectively and work cooperatively with internal and external stakeholders.
- Work on resolving the most complex non-compliance issues relating to the Department funded projects, including those involved in: new funding, restructuring transactions, compliance workouts, owner’s corporate insolvency situations, unauthorized financial or management practices, other lender default scenarios, foreclosures, and lawsuits. Also work on resolving individual homeowner loan non-compliance, default and foreclosure transactions. Meet and/or interact with borrowers, sponsors, other creditors, attorneys, consultants, other federal, state and local officials and the courts to resolve defaults. Present all major workout proposals to the appropriate Department authority for final approval. Assist in the preparation and finalization of amended loan documents, agreements and correspondence, and follow up to ensure that corrective actions are implemented. Consult regularly, including attending regular bi-weekly meetings, with the Legal Affairs Division to analyze and determine solution on all troubled projects referred to CRP.
- Develop policies, processes, and procedures for CRP and DSFA; train staff & stakeholders and develop forms for the unit and DSFA in response to new policies, guidelines, or business process improvement analysis. Help design and implement the methodology for risk-based asset management of HCD’s portfolio of over 1,000 rental housing developments, including risk assessment tools, intervention options, standardized compliance workout documents, intervention outcome analysis, communication tools, and technical assistance and training programs.
- Independently develop presentations in support of Departmental activities and functions. Represent the Department as a member of external committees, inter-agency efforts, advisory bodies and other groups addressing assigned area of expertise as authorized and directed by Division management.
- Develop new styles of recordkeeping; analyze data in the Department’s database, as well as outside databases; and maintain and report on outcomes and records (Management Information Reviews, BOS Reports, etc.). Provide reports in response to data requests from DSFA management, other state agencies, or other interested parties. Provide regular reports and updates to CRP and AMC Section management on project performance. Act as liaison to Information Technology Branch for data, database and website, and other departmental point persons on behalf of the unit.
- Performs other job-related duties and assignments as assigned, including mandatory training