Minnesota Housing seeks a strategic thinker and mission driven leader to be our next
Loan Origination Direction
Minnesota Housing is seeking an experienced manager with loan origination, lending and financial marketing expertise to join our Multifamily team as the Loan Origination Director. This is an exciting new role at the Agency will lead lending operations for all multifamily loans from an initial customer contact until the loans are closed and project construction is completed. You’ll report to the Multifamily Assistant Commissioner and supervise a team of 40 employees with the support of five managers and middle managers.
Minnesota Housing is a mission-focused financial institution that finances housingthat is affordable to low-and moderate-income households while fostering strong communities. At Minnesota Housing, you’ll have the opportunity to work with a great team of professionals that all work towards the vision that all Minnesotans will live in a safe, stable home they can afford in a community of their choice.
The Loan Origination Director will directfour teams.
- The Underwriting team is responsible for structuring, underwriting and processing all loans for multifamily properties, including both amortizing and deferred loans. The team includes a manager who leads the team of 13 underwriters and loan processors.
- The Policy and Programs team is responsible for framing and directing the State and Federal policies and programs that provide the essential financial resources which make affordable rental developments possible. These include the federal Low Income Housing Tax Credit, tax-exempt bonds, and the HOME and national Housing Trust Fund programs. They also include critical State resources, including Housing Infrastructure Bonds and state appropriations for a range of rental housing from permanent supportive housing to workforce housing. Critical activities include conducting annual processes for awarding competitive funds, including the annual consolidated Request for Proposals (RFP process) and the Qualified Allocation Plan (QAP).The team is led by a manager withfivedirect and a mid-managerwith an additional five direct reports.
- The Closing and Construction team is responsible for closing all multifamily loans, monitoring the loans through construction and ensuring that project design and construction meets established standards. This team is led my a manger with five direct reports and a mid-manager with an additional eight direct reports.
- Business Development. The Loan Origination Director is directly responsible forbuilding strong business relationships with multifamily property owners and developers and other affordable housing lenders to promote Minnesota Housing as a lender with competitive and unique loan offerings.
The Loan Origination Director will be a strategic thinker and innovative leader with a deep appreciation for our mission and a passion for affordable housing. A strong candidate will:
- Thrive in a fast-paced environment; make timely decisions and consistently demonstrate sound judgment.
- Have a broad knowledge of the affordable rental housing industry, including finance, development, asset management and preservation.
- Build relationships and expand our network of multifamily property owners and developers and other lenders to meet the growing need for affordable housing.
- Leverage the strengths of a strong Multifamily team and take an active interest in continued development of staff capabilities and organizational capacity.
- Proactively manage change, ensuring that the work of theMultifamily is aligned with our strategic goals and business plans.
- Bring creativity and ideas for new products and processes that maximize affordable rental housing resources and recognize how they apply to our organization.
The next Loan Origination Director will have several immediate opportunities to provide leadership, including:
- Direct affordable housing strategic priorities and policies – lead the team through the entire cycle of generating new business from business development to underwriting and closing. Lead the team through the annual Request for Proposal and Qualified Allocation Plan processes while managing priorities and selection criteria.
- Develop and expand external relationships – bring new energy to external relationships with our existing partners and cultivate new partnerships. A strong Loan Origination Director will anticipate opportunities, be a creative problem solver andmeet customer’s financing needs with Agency lending offerings. You will work to operationalize new loan products to better meet customer needs.
- Provide a key role in the Multifamily Remodel Project – provide leadership to create better business processes, business systems, improved customer relationships and better housing outcomes that are part of this initiative and focus on areas where we need to change the way we do our work.
Education and Experience
- Bachelor’s Degree in Business Administration, Finance, Housing or related field.
- 5 years’ experience in loan origination, lending and financial marketing.
- 5 years’ experience in management of people and effective team building, preferably managing a large work team.
- Understand State and Federal housing policy and regulatory environment.
- Understand financial and legal aspects of a rental real estate transaction.
- Experience establishing positive working relationships with stakeholders and partnerships, as well as public agencies, government, non-profit and for-profit organizations.
Minnesota Housing’s Mission
Housing is the foundation for success so we collaborate with individuals, communities and partners to create, preserve and finance affordable housing. We have five strategic priorities that are central to our work:
- Preserve Housing with Federal Project-Based Rent Assistance
- Reduce Minnesota’s Racial and Ethnicity Homeownership Disparity
- Prevent and End Homelessness
- Finance Housing Responsive to Minnesota’s Changing Demographics
- Address Specific and Critical Local Housing Needs
Compensation and Benefits
Salary up to $121,041 depending on experience and qualifications. Our top-notch benefits include very inexpensive health insurance for employees, inexpensive insurance for dependents, generous vacation and sick leave plans, eleven holidays per year, and tuition assistance. We offer a defined benefit pension plan that provides a guaranteed life-long benefit based on your tenure and optional pre-tax and ROTH retirement account options to supplement the pension. For more information, visit our website at www.mnhousing.gov.
Why Choose Minnesota Housing?
Our culture consists of passionate, mission-driven employees focused on delivering the best programs possible to help Minnesotans access safe, affordable housing. We invest in our employees’ futures by providing a variety of professional development opportunities. We’re committed to providing employees with work-life balance by offering many work schedule options, flexible schedules, limited overtime, and telecommuting options. That’s why our average employee tenure is 11 years.
At Minnesota Housing, we know that affordable housing is an essential part of Minnesota’s infrastructure. When you work here, you’re helping to build stronger communities. We also have a national reputation as one of the finest housing finance agencies in the country.
Application and Selection Process
Qualified candidates may apply online by visiting https://careers.mn.gov/psp/hcm92apc/MNCAREERS/HRMS/c/HRS_HRAM.HRS_APP_SCHJOB.GBL?Page=HRS_APP_JBPST&FOCUS=Applicant&SiteId=1001&JobOpeningId=23805&PostingSeq=1&languageCd=ENG .
This position is open until filled; however, interested applicants are strongly encouraged to apply no later than 6/7/2018. For more information please contact Kim Luchsinger at Kim.Luchsinger@state.mn.usHelp / 651-296-1509.
Minnesota Housing is an Equal Opportunity Employer and values diversity at all levels of its workforce. Applicants selected as finalists for this position will be subject to a criminal history/credit/driver’s license check prior to interview.