Vice President of Debt Asset Management

Overview

The Community Development Trust ("CDT") is a national investor in affordable housing. Working with local, regional, and national partners, CDT makes long-term equity investments and originates/acquires long-term mortgages to support the creation and preservation of affordable housing throughout the United States. Now in its 27th year, the gross value of CDT’s assets totals over $3.5 billion. CDT’s total current investments have helped to create and preserve more than 38,000 units of affordable housing;

providing homes for more than 135,000 residents. CDT is a private real estate investment trust ("REIT") and a certified community development financial institution ("CDFI").

The Vice President of Debt Asset Management ("VP") is responsible for managing and maintaining a high-quality portfolio of first mortgage loans secured by affordable multifamily projects developed with LIHTC equity. The VP is responsible for all asset and portfolio management for a first mortgage loan portfolio totaling over $500MM. The VP manages third-party servicers that perform all primary loan servicing functions.

Oversight of primarily servicing functions include payment performance, escrow/reserves monitoring, quarterly financial reporting, annual property inspections, watchlist monitoring, special servicing needs, extensions, payoffs, and senior investor reporting. The VP will report to the Senior Vice President of Debt and will oversee a rapidly growing portfolio of affordable multifamily first mortgages. The portfolio currently consists of close to 200 first mortgage loans located throughout the United States.

The objective of this role is to manage CDT’s existing and growth debt portfolio, through ongoing asset management, working closely with CDT’s third-party servicers, consultants, external senior investors, and senior management team. Evaluate overall performance to assist strategic business planning, in establishing benchmarks, guidelines and policies. Work collaboratively with servicers and, as needed, directly with borrowers to identify challenges and execute timely and effective solutions.

Oversee and ensure compliance with all regulatory programs within the portfolio. Responsibilities include analyzing the portfolio performance with particular concern for the financial, operational, and physical condition of the properties securing CDT’s first mortgages.

The VP works with several cross-functional teams focused on the financial health of the portfolio, including originations, finance, securitization, and closing/investor delivery groups. The Vice President of Debt Asset management has extensive external contact with servicers, borrowers, consultants, and investors.

The VP will report on the performance of the portfolio to the executive management team, board committees, auditors, and investors on an ongoing basis.

REPORTS TO:

Senior Vice President - Debt

Reporting to the Senior Vice President of Debt, the VP oversees the day-to-day management of the debt portfolio to ensure long-term strategic management and effective portfolio performance.

• Provide day-to-day leadership and management in accordance with the mission and core values.
• Oversee the debt portfolio to ensure financial performance of the underlying properties meet or exceed expectations, and that they are physically and financially maintained at or above company standards.
• Creates and maintains comprehensive asset management/strategy plans for the portfolio.
• Responsible for the measurement and effectiveness of all internal and external processes and policies with regard to debt portfolio.
• Responsible for the Asset Management loan database and working with the Finance team to ensure all loans are uploaded, maintained, and reported on for internal and external parties.
• Monitors portfolio to ensure that financial performance is in-line with historic operations and that variance explanations are within watchlist criteria and asset management policy.
• Provides timely, accurate and complete periodic reports, both internal and external, on the performance of the debt portfolio.
• Monitor compliance on CDFI grants…