Job Title: Associate, Loan Administrator (Bond Program)
Location: Washington, DC

Company Summary
OFN is a leading national network of CDFIs (community development financial
institutions) with offices in Philadelphia and Washington D.C. In pursuit of a mission
to align capital with social, economic, and political justice, OFN supports its member
CDFIs with money, strength, and voice to drive transformational change in
underserved communities nationwide.

Position Summary and Essential Functions
This position is primarily responsible for assisting the Vice President, Loan Operations in the administration of OFN’s Bond Guarantee Loans. Such assistance will include collateral management, compliance management, database management, loan servicing monitoring and recordkeeping.  Responsibilities also include assistance with OFN’s existing loan portfolio.

Responsibilities include but are not limited to:

  • Support the preparation and submission of the Bond Guarantee Program application via collection, organization and remittal of financial documents.
  • Review and coordinate documents associated with borrowers requisition of Bond funds for completeness and compliance with the Bond Guarantee Program requirements.
  • Provide payment oversight of Bond Loans, management of Bond Loan collateral.
  • Ensure proper administration of all Secondary Loan documents by the borrower
    including the creation and perfection of required security interests and liens on
    Secondary Loans.
  • Perform first level review of the performance, replacement and removal of Bond
    Loan Collateral and ensure non-performing collateral is replaced in a timely
    fashion.
  • Ensure borrowers maintain the required amount of collateral per Bond Loan legal documents.
  • Monitor escrow agent activities and the custody of Secondary and Tertiary Loan documents held by the escrow agent.
  • Review, coordinate and test for compliance with covenants of the borrower.
  • Track and submit monthly, quarterly and annual reports to the CDFI Fund to support compliance with the terms and conditions of the Bond documents via database management systems.
  • Process documentation as needed to declare Events of Default under the Bond
  • Guarantee Program and initiate remedies when necessary.
  • Assist with administration of OFN’s existing loan portfolio including collection and coordination of loan documentation, on-boarding and modifications to existing loans, ensure closing conditions are met, and initiate the funding for each loan closing.
  • Prepare timely submissions of internal and external departmental reports.
  • Prepare and review invoices for loans and asset management.
    Preserve, maintain and update borrower files and legal documents as needed.
    Assist other financial services team members on projects or deliverables, as requested by the VP, Loan Operations.

Education and Experience:

  • Bachelor’s Degree or 5+ years direct work experience required.
  • 1-3 years of experience in lending markets that have similar characteristics to the loans of OFN, and/or title or mortgage industry experienced required.
  • Experience in loan operations with a financial and /or nonprofit institutions preferred.
  • Experience in multi-party lending structures, with borrowers, lenders, banks and servicers and backup servicers preferred.
  • Experience preparing loan documents utilizing a Loan Servicing Software or standard templates as well as CRM system experience desirable.
  • Experience or knowledge of the CDFI Industry a plus.
  • Experience in nonprofit or small office environment a plus.

Knowledge, Skills, Abilities, and Physical Requirements:

  • Knowledge of accounting or lending practices required.
  • Superior analytical and organizational skills required.
  • Superior written and verbal communication skills required with emphasis on clarity, conciseness and relevance.
  • Ability to understand and modify financial statements is preferred.
  • Ability to understand loan documentation is required.
  • Ability to review the work of other partners/subcontractors is required.
  • Superior interpersonal skills and ability to work well with diverse constituents is required.
  • Knowledge of and commitment to community development preferred.
  • Proficiency with MS Office and database software is required.
  • Ability to work independently or in team environment as required.
  • Ability to manage multiple tasks effectively and efficiently under moderate supervision.
  • Some travel required (<10% of time).
  • No extraordinary physical requirements beyond ability to travel.
  • Job involves normal physical requirements for an office position.

To Apply visit our online application portal at: https://theapplicantmanager.com/jobs?pos=OF134

Skip to toolbar