Portfolio Associate

CEDAC is looking for an organized and detail-oriented Portfolio Associate to join its Finance and Operations team. This is a meaningful opportunity to develop loan servicing and asset management skills in the affordable housing field, supporting one of Massachusetts' leading affordable housing organizations. CEDAC offers a mission-oriented environment and is committed to training entry-level staff.

The Portfolio Associate assists senior management and project staff with asset management functions for the organization. This role supports the monitoring and servicing of CEDAC's loan portfolios, primarily the portfolio of deferred payment subordinate loans on behalf of the Executive Office of Housing and Livable Communities (HLC) and assists senior management with similar tasks related to other loan products.

●       Receive asset management requests, including refinancing, subordination requests, and other loan modification requests from borrowers.

●       Ensure each borrower is current, or brings their project current, on compliance requirements prior to approval of pending loan modifications.

●       Review borrower requests for complete documentation and notify borrowers of the need for additional documentation as well as the asset management fee.

●       Maintain summary reports of outstanding requests and documentation matters.

●       Assist project managers and senior management with the review and processing of borrower requests.

●       Track upcoming maturity dates for state supportive housing loans and coordinate extension requests and due diligence review with project managers and the Director of Supportive Housing.

●       Assist HLC in monitoring the supportive housing loan portfolio; coordinate with HLC's monitoring consultants to track borrowers' compliance, including submission of monitoring reports and compliance materials for supportive housing loans.

●       Receive and review annual borrower cashflow reporting and assist borrowers to complete cashflow reports as needed.

●       Bring compliance issues to the CFO & COO and assist with the resolution of those issues as needed.

●       Assist with the assignment and appointment of attorneys for the FCF loan program.

●       Perform quality control review of loan documents related to supportive housing loan programs prior to execution, and forward to CEDAC's authorized signatories for execution.

●       Coordinate CEDAC's participation in state subordinate debt funding rounds with the Director of Supportive Housing, assisting with scheduling, preparing agendas, and summarizing funding recommendations to HLC.

●       Record project information in the lending database following HLC's press release announcing funding awards.

●       Receive closing binders from staff and legal counsel responsible for permanent loan closings, update the program database, and ensure closing materials are properly filed.

●       Provide grant closing support for the capital grant portfolio: review draft grant agreements, obtain authorized signatures, receive and save closing binders, and update the lending database.

●       Provide compliance tracking support for the capital grant portfolio: maintain the tracking tool, email grantees compliance deadlines, receive and file compliance material, and update the lending database.

●       Respond to audit confirmation requests from borrowers and oversee the work of administrative support staff assisting with the completion of requests.

●       Archive closing materials and maintain specific components of the Lending Database.

●       Assist with digitizing documents to replace paper archives.

●       Assist Housing and Information Technology staff in responding to data requests from partner agencies.

●       Attend program, department, and agency-wide meetings to foster communication and collaboration.

●       Assist staff members with other tasks as needed.

●       Bachelor's degree in a related field

●       2 years of experience in real estate development, law, lending, loan portfolio management, housing, or economic development (a Master's degree may substitute for one year of experience)

●       Strong results-orientation with planning, strategy, and accountability skills to meet objectives and timelines

●       Effective written and oral communication skills, tailored to audience and purpose

●       Advanced customer service orientation, responsive, kind, and effective in guiding clients and stakeholders

●       Strong collaboration and teamwork skills across diverse teams

●       Advanced proficiency with Windows-based software applications, including word processing, spreadsheet, database, and Internet applications