Development Officer

Job Description

We’re looking for amazing people! Join Virginia Housing as a Development Officer.

This important role has responsibility for commercial/multifamily loan production. Working with other Virginia Housing associates and external stakeholders, the Development Officer evaluates loan requests and recommendations for financing for a wide array of rental housing projects to further Virginia Housing’s mission and strategic priorities. Virginia Housing’s rental housing loan program includes new construction, adaptive reuse, acquisition, and substantial renovation projects. The ideal candidate will have a solid grasp of multifamily real estate fundamentals, with the energy and interest in further developing those skills, emphasizing promoting affordable and workforce housing.

Responsibilities will include:

• Evaluating loan application packages to assess project design, cost, and general feasibility, including the financial strength and experience of owners, general contractors, and other stakeholders
• Serving as the primary point of contact with the customer/mortgage banker, development team, and functional areas within Virginia Housing for assigned loans
• Reviewing third-party reports, including appraisals, environmental inspections, and property condition assessments
• Presenting development proposals and related recommendations to Virginia Housing Loan Committee for approval
• Developing a comprehensive understanding of the deal structure, development team, appropriateness of the financing request, and conformance with Virginia Housing lending policy and loan program requirements
• Coordinating the onboarding, underwriting, approval, closing, and drawing processes, working with other functional areas within Virginia Housing
• Reviewing and approving construction draws, loan closing draws, cost certifications, building permits, certificates of occupancy, and other documents
• Presenting architectural and civil drawings to the Design & Construction Group for review for adherence to the Authority’s construction standards
• Maintaining an awareness of market trends and conditions both nationally and within Virginia Housing’s lending footprint 

Qualified candidates must possess:

• Bachelor's degree or equivalent experience in Real Estate, Business, Finance, Economics, Mathematics, or Urban Planning
• A few years'  (3+ preferred) real estate experience, preferably in the multifamily or commercial area
• Good understanding of real estate, finance, and general business acumen
• Travel Required: up to 20%. Must possess a current driver’s license in good standing and travel, occasionally overnight 

Preferred experience includes:

• Direct experience in commercial/multifamily loan underwriting with an emphasis on rent and operating expense analysis in determining loan size
• A broad knowledge of low and moderate-income programs, conventional multifamily financing programs, and real estate analysis
• Advanced degree in Real Estate, Business, Finance, Economics, Mathematics, or Urban Planning

Virginia Housing is one of the nation’s premier housing finance organizations. Our mission is to help Virginians attain quality, affordable housing, which we accomplish through our public-private partnerships.

We are focused on employee engagement and committed to a healthy and diverse workforce. We offer on-site conveniences such as a cafeteria, fitness center, and free parking. Educational opportunities to help your advancement are available through classroom and online programs.

Applications and resumes are accepted online only on our company website.

This position will close at midnight on March 29, 2022.

Hiring Range $82,879 - $107,741

Background and credit checks will be performed as a condition of employment.

- EOE -