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As a Permanent Lending Relationship Manager, you will manage a portfolio of permanent loans and lead conversion underwriting; modification and consent requests; and facilitate refinance opportunities for permanent loans as part of JPMorgan Chase’s construction-to-permanent loan balance sheet product. You will routinely engage with our clients who are focused on developing, owning and operating multifamily affordable rental housing utilizing the Low-Income Housing Tax Credit program nationwide through the duration of their long-term mortgage, providing responsive client relationship management, credit risk oversight, and loan servicing support.
Job Responsibilities
- Prepare conversion and credit underwriting packages by reviewing operating statements, rent rolls, cash flow forecasts, project budgets and loan documents to identify any changes in performance and risks upon the property’s stabilization. Lead the Community Development Banking deal team in conference calls with clients, attorneys, and equity partners to coordinate permanent loan conversion closings; and support post-closing follow-up with internal business partners. Evaluate and recommend adjustments to the final funding of permanent loan commitments as part of the conversion to permanent financing.
- Serve as the primary point of contact for client requests regarding loan servicing requests; facilitate and respond to client loan inquiries; and collaborate with clients on maturing loan payoff and take-outs.
- Manage risk issues on an active book of loans in collaboration with the Credit Risk team. Review and report on adversely classified loans, delinquencies, and maturing loans to mitigate risk issues and address performance concerns.
- Originate multifamily affordable housing term loans for the JPMC balance sheet and curate referrals for the Agency Lending loan programs.
- Apply established underwriting standards and guidelines, understand credit approval requirements, and other policies and procedures associated with permanent loan conversions, loan modifications, and loan restructuring.
- Assist with training and development of associates and analysts on the team.
Required qualifications, capabilities, and skills:
- Seven or more years in commercial real estate credit, real estate underwriting, and/or multifamily affordable housing. Related experience may include affordable multifamily credit underwriting, affordable housing development, property operations and management; or Low-Income Housing Tax Credit investor/syndicator asset management.
- Strong analytical and business writing skills; a mindset oriented to due diligence and financial analysis; accounting and finance knowledge, as well as strong knowledge of real estate fundamentals and concepts in affordable housing.
- Excellent communication skills, including the ability to clearly express and support opinions in a confident and diplomatic manner, listen thoughtfully to the input and critiques of managers and team members, and effectively articulate positions to senior management
- Superior interpersonal skills to interact with clients, counsel, products partners, and senior management
- Intermediate to expert proficiency in Microsoft products, including Word, Excel and Teams.
- Bachelor’s degree required.
- Demonstrated experience with affordable housing finance; Low Income Housing Tax Credit transactions; and/or agency lending (Fannie Mae/Freddie Mac) is preferred.
- Experience with loan modifications; consent requests; debt restructuring, workouts and dispositions experience is also advantageous.
- Experience working with state housing finance agency Low Income Housing Tax Credit administration and subordinate debt programs; tax exempt bond financing; and/or U.S. Department of Housing & Urban Development (HUD) subsidy programs.
Preferred qualifications, capabilities, and skills:
- Demonstrated experience with affordable housing finance; Low Income Housing Tax Credit transactions; and/or agency lending (Fannie Mae/Freddie Mac) is preferred.
- Experience with loan modifications; consent requests; debt restructuring, workouts and dispositions experience is also advantageous.
- Experience working with state housing finance agency Low Income Housing Tax Credit administration and subordinate debt programs; tax exempt bond financing; and/or U.S. Department of Housing & Urban Development (HUD) subsidy programs.
The final officer title and job grade is at the discretion of the firm and will be discussed at the time of offer. It may be different than what is listed on the requisition based on candidate experience level.
Source: JP Morgan Career Page
