Project Manager, Development
Area of Talent: Development/Affordable Housing
Position Type: Full Time/Exempt
Location: NYC/Wall Street Area
The New York City Housing Development Corporation (HDC) is a public benefit corporation and the nation’s largest municipal Housing Finance Agency. HDC’s programs support the construction and preservation of multi-family affordable housing in New York City. HDC is an equal employment opportunity employer.
The Project Manager, Development reports to the Senior Vice President, Development and is responsible for originating and underwriting mortgage loans using funds raised through bond issuances and/or allocations of corporate reserves.
- Underwrite mortgage loans (analyze loan proposals; review due diligence materials; prepare spreadsheets outlining each proposal; prepare credit memos; present loans to Credit Committee for approval).
- Coordinate mortgage loan closings with internal and external parties, including developers, other City agencies, bankers, bond underwriters and tax credit syndicators.
- Manage relationships with current and prospective developers/borrowers.
- Prepare management reports and loan tracking information.
- Assist in evaluating and/or formulating affordable housing program and policy initiatives.