Development Officer - Public Housing

Glen Allen, VA, USA Req #159
Thursday, September 3, 2020

We're looking for amazing people! Come join Virginia Housing as a Rental Housing Development Officer. This important role will be responsible for all phases of multifamily lending and subsidy resource allocation relating to Virginia Housing’s Public Housing Transformation initiative.

Responsibilities will include:

Outreach to Public Housing Authorities

• Develop and maintain relationships with key staff of Public Housing Authorities.
• Serves as the primary point of contact for the customer, the development team and functional areas within Virginia Housing.
• Evaluate and report on both current state of and future redevelopment plans of PHAs.
• Provide technical assistance to PHAs.
• Communicate Virginia Housing’s policies, processes and key decisions to PHAs.

Loan Underwriting and Resource Allocation

• Gathers, analyzes and interprets a wide variety of data as part of the loan underwriting process.
• Creates reports from the borrower's submitted loan application and automated system Prolink.
• Reviews operating expense data submitted by our borrowers as compared to data collected from our extensive property operating numbers.
• Administers Virginia Housing's Architectural & Engineering (A&E) review process.
• Reviews borrower provided 3rd party market studies in addition to the performance of independent market analysis.
• Makes decisions regarding achievable rents in the submarket and incorporates into loan sizing and financial feasibility.
• Makes recommendations to internal management regarding use of Virginia Housing provided funding sources, including loans, grants and housing tax credits.

Loan Approval Process

• Produces deliverables as part of the loan approval process
• Prepares the Closing Determinations for final closing on all construction/permanent loans.
• Prepares initial and final, Good Money/Bad Money Forms, TEFRA Notices on all deals being financed with Tax Exempt bond proceeds.
• Presents development proposal to Loan Committee Review

Qualified candidates must possess 3 to 5 years' real estate experience preferably in the multifamily or commercial area. Public Housing experience preferred. A broad knowledge of low and moderate income programs, conventional multifamily financing programs and real estate analysis. Direct experience in commercial/multifamily loan underwriting with an emphasis on rent and operating expense analysis in determining loan size, preferred.  Basic understanding of real estate, finance, and general business acumen, preferred. Bachelor's degree, or equivalent experience in Real Estate, Business, Finance, Economics, Mathematics or Urban Planning. 

Travel Required: 20%.  Must possess a current driver’s license in good standing and be able to travel, occasionally overnight.

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 educational opportunities to help your advancement through classroom and online programs. We offer on-site free parking.

This position will be located at Virginia Housing’s Glen Allen, VA office.

Applications and resumes are accepted online only at:

This position will remain open until filled.

Hiring Range: $78,857 - $102,513

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

- EOE -

Other details

  • Pay Type Salary
  • Min Hiring Rate $78,857.00
  • Max Hiring Rate $102,513.00
  • Glen Allen, VA, USA