Position Title: Loan Analyst – California Community Reinvestment Corporation
Supports: Loan Origination/Business Development
Reports To: Executive Vice President
Location: Glendale, CA
CCRC is California's premier multifamily affordable housing lender; responding to California's ongoing statewide affordable housing crisis has been its business for 28 years. CCRC specializes in programs for families and seniors, citizens with special needs, and mixed-use developments. Backed by most of the major retail banks operating in California as well as pension plans and insurance companies, CCRC delivers the products, services and technical assistance that have made the organization the lender-of-choice of California's affordable housing development community.
Since its founding in 1989, CCRC has approved more than $1.8 billion in loans for affordable housing, creating 50,000 homes for people earning 60% or less of the area median income. Providing this access to capital allows individuals to live, work and raise their families in communities throughout California, creating a more economically diverse and stable statewide economy.
Serving the entire state of California, CCRC has worked with for-profit and nonprofit developers to increase the supply of affordable housing. CCRC provides both immediately funded loan programs for acquisition, intermediate programs that provide acquisition, rehabilitation and permanent mortgages for existing housing stock in need of repair, and forward commitment programs for planned new construction. CCRC also provides scholarships for residents in its financed properties for higher educational and vocational advancement.
Recognized as a leader in the state in these programs, CCRC has an experienced staff to meet the needs of its investor banks, developers and those communities it serves. This position is an ideal opportunity for the right candidate to come into a high performing team of lending professionals willing to provide training and years of experience in bringing someone into the lending aspect of affordable housing who aspires to grow in the industry.
The position supports the underwriting process for permanent financing of mortgage and tax-exempt bonds secured by multi family affordable housing developments within the State of California. Specific tasks include site inspections, appraisal review, pro-forma analysis, analysis of sponsor’s financial statements, and assisting with the preparation of loan underwriting credit packages. The position will also assist in analyzing existing commitments in the process of converting and funding to verify accuracy of underwriting at commitment. Interface extensively with team members and some sponsor/borrowers as analysis is performed.
Strong financial and analytical skills, preferably with some real estate finance experience and background or educational training.