Vice President / Affordable Housing/Special Servicing - New York, NY
| Basic Function | Position requires proactive asset management and timely resolution of an assigned portfolio of distressed tax credit assets and/or REO properties through application of strong negotiation skills, and comprehensive analysis and understanding of the related affordable limited partnership documents, loan documents, elements of collateral performance and resolution alternatives. |
| Primary Duties | Position also requires (i) engagement of and interaction with third party consultants including attorneys, building contractors, management companies, appraisers, receivers, environmental engineers, and surveyors, and (ii) thorough understanding of and compliance with the governing loan documents, loan servicing agreements, REMIC regulations, LIHTC regulations, investor reporting requirements and state and federal laws governing foreclosures, receivership actions, and bankruptcies. Travel required. |
| Experience | The position requires experience in LIHTC and other state and federal tax credit programs, and a background in working with multifamily real estate portfolios. Candidate must have an understanding of complex loan and loan servicing agreements, working knowledge of foreclosure and bankruptcy laws, knowledge of real estate accounting and finance. Additional experience in managing commercial real estate loans secured by various income-producing property types such as multifamily, retail, office, industrial and hospitality properties is a plus. Understanding of industry standard financial models desired including rental and debt stabilization tests, debt re-sizing structures and strategies. In addition, the asset manager should understand operating statements, balance sheets, and standard management company operating reports. |
| Skills | Candidate must have strong analytical, negotiation, communication (both verbal and written), financial and computer skills, and proficiency in Microsoft Word and Microsoft Excel |
| Education | Candidate must have at least six (6) years experience in commercial real estate loan resolutions, with specific experience in managing or resolving LIHTC assets. Other experience such as real estate development, loan originations and real estate valuation is a plus. A four (4) year college degree is required, preferably in the field of business or real estate. Please forward resume to (include current salary information) Emmanuelle St. Louis |
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