Vice President, Originations

National Equity Fund, Inc. (NEF), a leading non-profit syndicator of low-income housing tax credits (LIHTC), is seeking a Vice President, Originations to conduct a wide range of new business initiatives. The LIHTC program is the most important resource available today for creating affordable housing in the United States. NEF uses its extensive experience, talent, and resources to create sustainable affordable housing.

The Vice President, Originations will originate, structure and negotiate low-income housing tax credit investments. Represent NEF and manage the workload in the designated region. Responsible for structuring transactions in a manner consistent with Investor expectations, ensure long-term project viability, and meets NEF’s mission. Successful in working independently and collaboratively across departments to structure and negotiate transactions.

Seeking Candidates in Ohio, Indiana, Michigan or Tennessee.

Essential duties:

Provide Regional Managing Director with a business plan for the designated market, determining optimal marketing strategy, and executing said business plan Responsible for NEF marketing efforts in the designated region. Establish new relationships with non-profit and for-profit low-income housing developers, funders, and state allocating agencies in designated markets. Maintain relationships through excellent customer service and utmost professionalism.

Lead the Originations process for affordable housing projects seeking equity investments from the National Equity Fund in the designated region. Identify complex LIHTC and credit issues and review business terms with the sponsor to add value to developing a viable, sustainable affordable housing property.

Increase knowledge of complex real estate underwriting, tax, and Section 42 requirements. Possess good knowledge of complex real estate underwriting, Section 42 requirements, various state tax credits, Historic Tax Credits, energy credits, project-based rental subsidies and vouchers, and relevant tax topics and issues including minimum gain and grant structures.

Market to sponsors in the geographic area, including attendance, at and/or serving as a presenter at state and other relevant housing conferences, meetings, and forums. Serve as the external face for NEF.Structure LIHTC transactions according to NEF established underwriting guidelines and pricing parameters. Work through credit issues with the Regional Managing Director. Must be able to analyze a projects income structure, operating expenses, debt service requirements, market studies, and a developers financial and development capacity.

Coordinate with VP Regional Manager with regards to investor targeting and interest.

Exhibit fluency or capabilities to attain fluency with respect to the NEF investment proforma and underwriting model, including an understanding of investment fund parameters and requirements.

Work and coordinate with asset management staff in managing and resolving issues with projects in the designated geography.

Maintain NEF’s proprietary database for projects in individual pipeline.

Provide information to Regional Managing Director and colleagues as needed to meet requests from other departments including fund management, accounting, investor relations, etc.

As an affiliate of the Local Initiatives Support Corporation, NEF originators must have the ability to effectively manage and leverage LISC stakeholder relationships in the designated region. This may include participation in LISC meetings or providing trainings for LISC staff or LISC-supported community development organizations.

Mentor and provide guidance to the originations analyst to transfer knowledge and best practices to encourage professional development and growth.

Other duties and special projects as assigned by the VP Managing Director The ideal candidate:

Undergraduate or graduate degree in business, economics, urban planning, or finance.

Minimum of 7-10 years experience in underwriting and structuring real estate projects.

Ability to work independently and effectively on numerous projects at the same time.

Strong analytical skills and proficiency in Microsoft Office programs, including Excel and Word, and other relevant applications.

Strong communication skills, both written and verbal.

Ability to explain complex financing structures to Developers, stakeholders, funders, and other related audiences.

Prior experience with affordable housing loans or investments and knowledge of state and local programs a…