Purpose and Job Summary:
Reporting to the Senior Managing Director, the Associate supports the origination, screening, structuring, underwriting, and execution of affordable multifamily financing opportunities within Lument’s Affordable Housing platform. The position encompasses multifamily mortgage banking and tax-exempt bond financing used to finance the acquisition, refinancing, rehabilitation, and construction of affordable housing properties. The Associate is responsible for financial modeling, transaction analysis, due diligence, document review, and execution support throughout the financing lifecycle, from initial evaluation and proposal through underwriting and closing. The ideal candidate has strong quantitative and analytical skills, an understanding of real estate finance, exceptional attention to detail, sound judgment, and the ability to manage multiple assignments in a collaborative, fast-paced environment. The Associate is expected to develop the skills and experience necessary to assume increasing responsibility within Lument’s affordable housing production platform.
Essential Duties and Responsibilities:
- Develop and maintain a strong working knowledge of Lument’s affordable housing finance products, policies, procedures, underwriting guidelines, and transaction requirements.
- Support senior bankers in the origination, evaluation, structuring, and execution of multifamily mortgage and tax-exempt bond financing opportunities.
- Review prospective transactions and prepare preliminary analyses of property operations, development costs, sources and uses, capital structure, financing proceeds, debt-service capacity, loan-to-value ratios, debt-service coverage ratios, and other relevant credit metrics.
- Analyze current and historical property cash flows, operating statements, rent rolls, development budgets, financial statements, market information, and other transaction materials.
- Assume responsibility for preparing, maintaining, and reconciling financial models for construction and permanent financing, including operating cash flow projections, debt sizing, debt-service schedules, construction draw and funding schedules, capitalized interest, investment earnings, and applicable repayment or redemption mechanics.
- Analyze the interaction among the various debt, equity, and other funding sources within a transaction’s capital structure.
- Assist senior bankers in evaluating financing alternatives and developing structures responsive to a transaction’s credit, timing, regulatory, and execution requirements.
- Prepare financing proposals, engagement documentation, screening narratives, structure comparisons, term sheets, credit and approval materials, investor presentations, and other internal and external transaction materials.
- Use approved artificial intelligence and other technology tools to enhance financial analysis and assist in preparing term sheets, transaction write-ups, and related work products, while independently reviewing and validating all outputs and complying with applicable confidentiality, data security, legal, and compliance requirements.
- Assist in the preparation and review of offering and disclosure materials and support the collection, organization, and verification of financial, operating, project, and transaction information.
- Review draft bond, loan, and financing documents for consistency with approved business terms, financial models, credit approvals, and other transaction materials; identify discrepancies and assist senior bankers and counsel in resolving open business items.
- Review appraisals, market studies, environmental and engineering reports, construction information, organizational documents, tax-credit materials, and other due diligence items; identify material issues and incorporate relevant findings into transaction analyses and materials.
- Prepare and maintain transaction checklists, working-group lists, financing calendars, due diligence trackers, document logs, model-to-document reconciliations, and closing schedules.
- Participate in client calls, working-group calls, internal deal reviews, structuring discussions, document reviews, and transaction closings; prepare follow-up analyses and track outstanding items as requested.
- Coordinate transaction execution with clients, bond issuers, lenders, investors, rating agencies, legal counsel, trustees, tax-credit participants, and internal production, underwriting, credit, closing, servicing, banking, capital markets, legal, and compliance personnel.
- Support mortgage banking assignments by preparing loan screenings, lender and agency submissions, underwriting narratives, credit memoranda, and client presentations, and by monitoring transactions through underwriting, commitment, rate lock, closing, conversion, and other applicable milestones.
- Participate in corporate, strategic, and team initiatives and perform other duties and special projects as assigned.
Education, Skills and Experience:
- Bachelor’s degree in business, finance, accounting, economics, real estate, or a related field from an accredited institution, with a record of strong academic achievement, required.
- Three to five years of relevant experience in affordable housing finance, multifamily mortgage banking, public finance, municipal securities, investment banking, commercial real estate lending, or a related field preferred; candidates with additional relevant experience may also be considered.
- Experience with multifamily housing finance, affordable housing, LIHTC transactions, tax-exempt bonds, or other structured real estate financings preferred.
- Experience with Fannie Mae, Freddie Mac, and/or FHA multifamily loan programs preferred.
- Advanced proficiency in Microsoft Excel, including the ability to build, maintain, review, and reconcile financial models; proficiency in Microsoft Word and PowerPoint.
- Experience with DBC Housing or comparable bond structuring and financial analysis software preferred.
- Working knowledge of financial statement analysis, general accounting, property cash flow underwriting, debt sizing, mortgage interest calculations, bond mathematics, and discounted cash flow concepts.
- Ability to analyze complex financial structures and synthesize financial, credit, legal, market, and project information into clear, well-supported conclusions and recommendations.
- Ability to accurately reconcile financial models, proposals, term sheets, credit approvals, offering materials, and transaction documents.
- Excellent organizational, written, verbal, and interpersonal communication skills, with strong attention to detail and the ability to identify inconsistencies, unresolved issues, and potential transaction risks.
- Ability to manage multiple assignments and active transactions simultaneously, establish priorities, meet deadlines, work independently with appropriate direction, and take ownership of assigned workstreams.
- Strong work ethic, initiative, accountability, professionalism, and a collaborative, solutions-oriented mindset.
- FINRA Securities Industry Essentials examination required within one year of employment. Series 52, Series 63, and other applicable registrations may be required within the period established by the company.
- Highest degree of integrity, discretion, and confidentiality in the performance of all responsibilities.
Travel may be required (2% to 5%).
Annual base salary gross: $85,000 - $95,000 (CA only). The base salary range represents the estimated low and high end of ORIX’s salary for this position based on geography. Actual base salaries will vary and will be based on various factors, such as candidate’s qualifications, skills, competencies and proficiency for the role. The base pay is one component of ORIX’s total compensation package for employees. Other rewards and benefits include cash bonuses, long term incentives, health insurance, accident and life insurance, and retirement benefits. Please visit our Benefits page for additional information.
Life at ORIX
We are committed to the health and well-being of our employees and offer a quality, competitive benefits package that provides valuable healthcare and financial protection for our workforce, while emphasizing a healthy work/life balance.
You Time
We want you to have the time needed to recharge and manage life with our competitive vacation policy, floating personal holidays, extensive leave options, our annual observed holidays, and more.
Family Care
Every family has a different journey and ORIX USA Group is proud to offer extensive benefit programs such as: infertility coverage, adoption support, child and elder care, fully paid maternity, and generous parental leave benefits to help you and your families along the way.
Flexible Work Arrangements
ORIX associates enjoy the advantages of our hybrid working model with a 3 day in-office minimum requirement.
ORIX USA is an equal opportunity employer, providing equal employment opportunities (EEO), and is committed to diversifying its workforce. All employees and applicants for employment will receive consideration for employment without regard to race, color, religion, sex, national origin, age, disability, genetics, sexual orientation, gender identity or expression, pregnancy, protected veteran status or other status protected by law. This policy applies to all terms and conditions of employment.
