Job Title: Loan Administrator Company: Midwest Housing Development Fund, Inc. Reports To: MHDF President
EEOC Class: Professional FLSA Status: Exempt
Job Summary The Loan Administrator is responsible for managing the day to day loan administration functions of MHDF, a Community Development Financial Institution (“CDFI”). This position requires knowledge of, and experience in, loan and credit administration, as well as preparing reports. The Loan Administrator will report directly to the President. Job Duties and Responsibilities Loan Documentation: Prepare or review loan documents for the closing of loans. Transmit documents to appropriate parties and circulate comments/revisions. Working closely with the Closing Specialist, insure loans are closed on a timely basis and that appropriate filings and title policies are completed. Communicate directly with borrower, and other pertinent parties, the schedule, documents and timing of all loan closing. Participate in the MHDF Loan Committee, preparing packets and minutes. Transmit required loan documents to the Federal Home Loan Bank of Topeka (“FHLB”) for each loan pledged. Credit Administration: Prepare and present credit memo for all loans. Assist the Executive Vice President (“EVP”) in preparing the internal Scrub Committee material. Document the Scrub Committee decisions and directions, as well as subsequent decisions reached by the President, Loan Committee or Board of Directors. Track and report Letters of Interest, Letters of Commitment, loan extensions and other amendments. Maintain credits files, ensuring complete and organized files as new loans come on line or current loans are paid off. Complete annual file review. Track and report on the provision for loan loss and the loan loss reserve, verifying that the Accounting Coordinator records appropriate entries. Reporting: Prepare and report on loan pipeline, including closing schedules and projected funding dates. Compile and prepare quarterly Board Reports and the periodic Loan Committee packets on a timely basis. Work with President and EVP in scheduling all meetings. Track and report on the Loan summary, Capitalization Raised, investor reporting requirements and the Sources of Funds. Working with the EVP, prepare and transmit the annual or quarterly required data for Opportunity Finance Network and Aeris. or other entities as required. Prepare and transmit monthly loan level data to the FHLB for each loan pledged.
Complete required monthly, quarterly or annual certification, financial statements and other required reports for the FHLB. Track grant requirements and, as needed, work with the EVP to prepare reports on a timely basis. Monitor and report on cash and overnight investment balances, recommending appropriate changes to the President or EVP.
Organizational: Understand MHDF data management needs and liaison with Operations on updates, changes and improvements. Assist the President and EVP in the timely completion and communication of the annual Strategic Plan, as well as quarterly updates. Prepare and plan the Annual Meeting, and the Director Orientation sessions – if needed, ensuring proper meeting space, hotel arrangements and travel plans are secured and communicated. Working with the President and EVP, ensure materials are completed and communicated on a timely basis. Marketing and External Communications Track and report MHDF Impact (e.g., units created, persons housed, jobs created) Identify loan success stories and prepare case study for board and external communications. Identify needed updates or enhancements to website and work with the Marketing Coordinator to ensure timely changes. Prepare Annual Report on a timely basis. Update or enhance product offering brochures, as needed. Managerial Responsibility - None Knowledge, Skill, Licenses, Competency Requirements Strong understanding of real estate investment due diligence processes. Basic understanding of LIHTC program. Attention to detail and accuracy a must. Excellent verbal and written communication skills. Ability to work independently as well as in a team setting. Strong organizational skills; ability to prioritize and handle multiple tasks at any given time. Must possess and maintain valid Driver’s License. Education, Experience Bachelor’s degree in business, finance community planning or other related area. Minimum 3 years of experience that contains some combination of lending, loan administration, credit review, accounting or other related experience. Computer Skills Working knowledge of Microsoft Office, including proficiency with Excel. Working knowledge of Loan Ledger or similar loan software.
Work Environment Work takes place in a typical office environment equipped with a computer, phone, copier/printer and other standard office supplies. Little overnight travel is required (less than 5 nights/year) Same day travel is required (e.g., stakeholder meetings, housing conferences) Physical Requirements Ability to work under pressure, including evening and weekends during peak periods. Ability to travel via aircraft and automobile for extended periods of time (i.e., ability to take long flights and drives). Ability to lift 30 pounds. Ability to work in typical office environment: type proficiently, use a computer, see computer screens and read/comprehend numerous financial and due diligence reports. When traveling, incumbent may be exposed to varying environmental conditions (e.g., inclement weather, crowded conditions, dirt, dust, construction work site hazards).
ACKNOWLEDGEMENT I have received, reviewed and fully understand the job description for Loan Administrator. I am able to perform the essential functions as described. I understand that my job may change on a temporary or regular basis according to the needs of my location or department without it being specifically included in the job description. I further understand that I am responsible for the satisfactory execution of the essential functions described therein, under any and all conditions as described. I have discussed any questions I may have had about this job description prior to signing this form. Employee Name: Employee Signature