Jobs and Careers

Director, Preservation Programs, Asset Management

New York City Housing Development Corporation

New York City, United Statesfull_timeVerifiedPosted 8 Nov 2024

About the role

Director, Preservation Programs, Asset Management 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. Area of Talent: Asset Management/Preservation Programs Position Type: Full Time/ExemptSalary Range: $100,000 – $115,000 annuallyOffice Location: NYC/Financial District Position Summary: The Director of Preservation Programs reports to the Vice President, Preservation Programs, and oversees a portfolio of construction loans and Mitchell-Lama properties. Oversight includes both mortgage requirements and NYC rules for Mitchell Lamas, budget and financial aspects of construction lending, and maintaining, analyzing, and reporting on property data. Job Responsibilities:

Lead a team of Asset Managers responsible for construction monitoring and asset managing the Mitchell Lama portfolio.
Manage construction loans, including but not limited to the following responsibilities:

Managing the construction budget in compliance with the respective loan documents;
Reviewing and understanding construction loan documents;
Evaluating and implementing construction document and contracts;
Reviewing construction loan change requests (change orders); and
Working to bring construction loans to completion.

Troubleshoot issues during construction, determine what the issues are and utilize tools available to the housing agency to bring relief/resolution.
Anticipate problems and look to bring resolution through acceptable means
Analyze a property’s financial issues with the borrower to determine acceptable course of action
Oversee the fund requests and authorizations of capital projects from reserve accounts.
Supervise the Fannie Mae review, approval, and distribution of reports according to the programmatic and regulatory requirements.
Build strong working relationships with other teams within HDC and HPD to enhance compliance efforts and education.
Maintain property data and prepares reports and status accounts to analyze potential risks and concerns within the portfolio.
Establish and maintain relationships with project owners, managing agents and various governmental agencies.
Manage inquires from residents, attorneys, elected officials, owners, or managing agents and provide timely and detailed responses substantiated by HDC regulatory and programmatic guidelines.
Develop training, materials, and tools to support the staff.
Head detailed internal staff meetings that provide programmatic information and guidance.
Review credit memos and supporting schedules prior to Credit Committee submission.
Streamline existing and create new processes ands systems to maximize the Department’s productivity and oversight capabilities.
Participate in interdepartmental projects.

Required Qualifications:

A bachelor’s degree from an accredited college plus 3-5 years minimum of relevant experience with federal, state, or local housing programs.
3 – 5 years prior supervisory experience managing a team, projects and time-sensitive deadlines.
Knowledge of NYC Mitchell Lamas, Housing Finance Agency underwriting and HUD Section 8 project compliance a plus.
Thorough understanding of loan administration, construction lending, and funding procedures.
Superior organizational, analytic, and problem-solving skills with excellent attention to detail.
Strong interpersonal, verbal, and written communication skills.
Ability to build relationships with staff executives and external partners.
Proficiency in Microsoft Office.

It is strongly preferred that you submit a cover letter with your resume. You may also fax your