JPMorgan Chase Bank Community Development Banking is the national lead in community development finance for affordable housing and economic development projects. As a Permanent Lending Relationship Manager within JPMorgan Chase Commercial Real Estate's Community Development Banking team, you will be an integral part of a national leader in community development finance for affordable housing and economic development projects. Community Development Banking offers financing for projects of any size and complexity, including construction financing, bridge and acquisition loans, letters of credit to support bond transactions, and long-term permanent financing for Low Income Housing Tax Credit developments and bond purchases. Our clients include for-profit and not-for-profit developers; government entities engaged in housing and economic development; and community-based organizations. The Permanent Lending Relationship Manager opportunity has flexibility to be based in one of CDB's regional offices: Chicago, IL; San Francisco, CA; Washington, DC; Plano, TX; Los Angeles, CA.
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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 and rehabilitating 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 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 supports 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.
- Identify product and service opportunities to improve the client experience.
- Performs special projects as needed.
- Originate multifamily affordable housing term loans for the JPMC balance sheet and curate referrals for the Agency Lending loan programs.
- Represents the firm at industry related conferences and other events.
Required qualifications, capabilities, and skills:
- Five 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 investigatory skills; a mindset oriented to due diligence and financial analysis; and excellent written and verbal communication skills.
- Ability to work independently with minimal supervision to oversee multiple tasks at the same time. Excellent teamwork and customer service; consistently delivering on commitments to colleagues and internal and external customers.
- Intermediate to expert proficiency in Microsoft products, including Word, Excel and Teams.
- Bachelor's degree required.
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.
ABOUT US
JPMorganChase, one of the oldest financial institutions, offers innovative financial solutions to millions of consumers, small businesses and many of the world's most prominent corporate, institutional and government clients under the J.P. Morgan and Chase brands. Our history spans over 200 years and today we are a leader in investment banking, consumer and small business banking, commercial banking, financial transaction processing and asset management.
We offer a competitive total rewards package including base salary determined based on the role, experience, skill set and location. Those in eligible roles may receive commission-based pay and/or discretionary incentive compensation, paid in the form of cash and/or forfeitable equity, awarded in recognition of individual achievements and contributions. We also offer a range of benefits and programs to meet employee needs, based on eligibility. These benefits include comprehensive health care coverage, on-site health and wellness centers, a retirement savings plan, backup childcare, tuition reimbursement, mental health support, financial coaching and more. Additional details about total compensation and benefits will be provided during the hiring process.
We recognize that our people are our strength and the diverse talents they bring to our global workforce are directly linked to our success. We are an equal opportunity employer and place a high value on diversity and inclusion at our company. We do not discriminate on the basis of any protected attribute, including race, religion, color, national origin, gender, sexual orientation, gender identity, gender expression, age, marital or veteran status, pregnancy or disability, or any other basis protected under applicable law. We also make reasonable accommodations for applicants' and employees' religious practices and beliefs, as well as mental health or physical disability needs. Visit our FAQs for more information about requesting an accommodation.
JPMorgan Chase & Co. is an Equal Opportunity Employer, including Disability/Veterans
ABOUT THE TEAM
J.P. Morgan's Global Banking business is one of the largest wholesale banking client franchises in the world. We serve clients, including corporations, governments, states, municipalities, healthcare organizations, education institutions, banks and investors.
Commercial Banking provides credit and financing, treasury and payment services, international banking and real estate services to clients-including corporations, municipalities, institutions, real estate investors and owners, and not-for-profit organizations.