Address
Form of workBe an integral part of the team that is proud to support vibrant and diverse neighborhoods by providing loans, investments, and services for low- and moderate-income households and communities nationwide!
J.P. Morgan Chase's Community Development Banking (CDB) business is a national leader in Community Development finance for affordable housing and economic development projects. Through our resources, CDB offers financing for projects of any size and complexity, including construction financing, bridge loans, acquisition loans, letters of credit to support bond transactions, and long-term permanent financing for Low Income Housing Tax Credit developments and bond purchases. CDB's clients include: For-profit and not-for-profit developers; Government entities engaged in housing and economic development; and Community-based organizations.
As a Community Development Banker, your initial responsibility will be to provide support and assistance in the underwriting and approval process for acquisition, construction and/or permanent loans sourced by senior banker colleagues. Following a period of 24-36 months, you will evolve and focus more on originations rather than the support of the senior banker colleagues. You will report to the CDB Regional Manager with an indirect line to the senior bankers in the market.
Job Responsibilities:
- Work with Originating Banker to gather all project related documentation, prepare credit committee pitch packages, Letters of Interest, and Term Sheets. Duties will include analysis and adjustment, as necessary, of development budgets, operating statements, rent schedules, construction flow of funds, relevant personal and corporate financial statements, operating statements, market studies and other third party reports.
- Work collaboratively with the assigned underwriter through the credit approval process, including closing calls, due diligence collection, and internal reporting requirements.
- Review legal documentation associated with the transaction prior to closing to determine accuracy of information and consistency with the terms of credit approval.
- Assist in handling client meetings and/or calls related to specific financings, and attend JPM Chase sponsored events and other affordable housing industry events, both during and after business hours.
- Maintain awareness of construction progress (appropriateness of draw requests, adequacy of debt and equity sources, time delays, cost overruns, usage of contingency funds, potential negative equity adjusters, and compliance with loan documents).
Required Qualifications, Skills and Capabilities:
- 3+ years' experience in the financing of commercial Real Estate transactions including familiarity with the financing of mixed income and affordable housing development projects.
- Experience with Federal, State and Local Affordable Housing/LIHTC financing programs required
- Knowledge of standard bank credit policies and loan administration procedures a plus
- Formal bank credit training preferred
- Bachelor's degreee required
- Ability to interact favorably in person and on the telephone with prospects, clients, consultants, government agency staff, and legal counsel
- Ability to work as a member of a team and adjust priorities as necessary to achieve team, as well as individual, goals
- Excellent written and verbal communication skills
- Strong PC skills; proficient in MS Word, Excel, PowerPoint, and Outlook
- Limited travel is required, occasionally overnight
