This Senior Loan Officer position is southeastern U.S.-based, focused on two primary areas in LIIF’s business.
First, the Senior Loan Officer leads business development efforts in southern states, with the goal of originating and closing transactions in furtherance of LIIF’s mission. This includes the marketing of LIIFs financial products and programs, and also building relationships with community development stakeholders in these markets.
Second, the Senior Loan Officer serves as a “floater”, and underwrites and closes loan transactions across all of LIIF’s lending regions, thereby allowing LIIF to match resources to active loan origination opportunities.
The Senior Loan Officer leads business development efforts in the Southeast, primarily focusing on affordable housing, charter schools, health clinics, child care centers, and other community facilities projects in Tennessee, Louisiana and Georgia. In addition, the Senior Loan Officer assists in outreach to foundations, other funders and other partner organizations. The Senior Loan Officer underwrites acquisition, predevelopment, construction, and term loans in support of LIIF’s transactions with affordable housing, charter schools, health clinics, child care centers, and other community facilities, often as part of mixed use projects with housing. The position also helps support closing transactions that utilize New Markets Tax Credits (NMTCs) and other structured finance products like the Bond Guaranty Program. In accordance with LIIF lending policies and procedures, the Senior Loan Officer prepares and presents loan narratives/credit memos to the loan committees or other approving entities for approval. Following loan approval, the Senior Loan Officer coordinates with LIIF’s Loan Administration group with loan closing and with LIIF’s asset management team for the ongoing asset management of such loans.
The Senior Loan Officer works closely with Loan Associates on loan closings and with Loan Associates and Credit Associates on asset management. The Senior Loan Officer communicates with potential and existing borrowers, third party lenders, funders, government agencies, attorneys and other outside groups. The Senior Loan Officer also attends regular loan committee meetings and represents LIIF to outside groups as requested. This position for one year contract.
The Senior Loan Officer reports to the Director, Central Region.
When supporting LIIF’s other regions (East and West), LIIF’s SVP, National Markets and Capital Solutions (to whom the Director and other regional directors report) establishes priorities for coordination of assignments.
ESSENTIAL JOB FUNCTIONS:
The Senior Loan Officer supports the lending goals of the Central Region by:
Represents LIIF in the market, under the direction of and in collaboration with Director. In addition to sourcing transactions, works independently to identify, engage and cultivate relationships with influential local partners (government entities, local trade associations, foundations), with a goal of discovering opportunities and activities that will further both the mission and revenue opportunities for LIIF.
Develops lending pipeline through screening inquiries, identifying and responding to new business opportunities, and meeting regularly with existing clients, potential borrowers and lending partners to discuss their development pipelines and credit needs.
Attends various industry and client functions, representing LIIF as the local representative of the client team.
Develops and maintains partnerships with key organizations in Tennessee and other southern states.
Maintains current knowledge of local, regional and national trends and conditions in the real estate development sector, including policy initiatives that will affect the underwriting, financing and development processes.
The Senior Loan Officer coordinates with Director, Central Region, for transactions in the Central Region and with the SVP, National Market and Capital Solutions, for transactions in the other regions, and supports the lending goals of LIIF through origination of new loans by:
Structures loans both to meet customers’ needs and to comply with internal guidelines based on extensive review and analysis of information gathered from the potential borrower and other sources and in consultation with the Director, LIIF’s Chief Credit Officer, the SVP, National Markets and Capital Solutions, and other relevant LIIF lending staff.
Performs due diligence review and evaluation of loan requests, which sometimes include a grant component, including conducting site inspections, analyzing project financials, reviewing appraisals, assessing entitlement status, reviewing environmental reports, understanding market and operating strategy for community facility projects, reviewing organizational capacity and leadership, and spreading/analyzing borrower financial statements.
Negotiates with borrowers on all aspects of loans, prepares a credit memo, and secures the appropriate level of approvals from internal staff and/or the appropriate loan committee with a recommendation for action.
Closing, Monitoring and Servicing:
Following financing approval, drafts a commitment letter and coordinates loan documentation and work performed by attorneys and other LIIF staff.
When a portion of LIIF’s loan will be shared with another financial institution, coordinates the distribution of information needed for the other lender to underwrite, approve, and close the loan.
Working in close collaboration with the assigned Loan Associate, guides the transaction through closing. The Senior Loan Officer is responsible for ensuring that the business terms of the transaction as reflected in the loan documents are consistent with the underwriting of the loan.
With the Loan Associate, develops and maintains credit files to ensure accuracy and completeness.
After loan closing, provides ongoing support to and coordination with the Credit Associate managing the transaction.
Coordinates closing with the applicable Loan Associate and Credit Associate as part of the relationship management team for each client.
The Senior Loan Officer must consistently provide excellent external relationship management.
The Senior Loan Officer is expected to function independently and to take on more complex transactions.
The Senior Loan Officer will be expected to travel for both job responsibilities and LIIF functions.
OTHER JOB FUNCTIONS:
Other projects and duties as assigned.
The ideal candidate will have these key qualifications:
A minimum of three to five years of progressively responsible experience.
Experience with community development and/or real estate lending, including credit analysis, deal structuring, underwriting and due diligence, and loan closings (familiarity with loan documentation is assumed). Experience in charter school and community facilities and/or small business financing, including tools such as NMTC.
Proficiency in analyzing financials of nonprofit organizations and for profit developers as well as operations of community facility sponsors.
Strong written and oral communication, including public speaking skills.
Familiarity with federal, state, and local government funding sources for capital and operating needs of charter schools and community facilities (e.g. child care centers, health centers, healthy food markets, shelters, social service and educational programs, etc.).
Working experience with both private sector financial institutions and public agencies.
Ability to develop innovative products for a diverse borrower population.
Ability to work independently and manage competing priorities with a modest amount of supervision and direction.
EDUCATIONAL AND OTHER REQUIREMENTS:
Educational background should include degree work in a relevant area of study such as finance, real estate, urban planning, public policy, or business administration. A bachelor’s degree is required although an advanced degree is preferred. In addition, the position requires a high degree of self-motivation, dedication, creativity, and perseverance; flexibility with time, travel and willingness to accept a demanding (and personally satisfying) position. Strong time management skills and ability to work well with others are important attributes.
HOW TO APPLY