Senior Associate, Lending


The primary duty of the Senior Associate, Lending, is to assist HPN’s CDFI lending business by underwriting and recommending loan approvals/structures on loan requests. A strong knowledge of affordable real estate development and nonprofit enterprise-level finance is required. Knowledge of CDFI Fund programs such as Capital Magnet Fund and New Market Tax Credits is a plus. The Senior Associate will report to the VP, Lending.


The Senior Associate will aid in the origination of new loans by collecting underwriting information (project and organizational) from potential borrowers, evaluating this information for likelihood of repayment, completing credit memoranda (synopsis of risks and risks mitigants), and presentation to HPF’s Board.

Underwriting/Credit Analysis (80%)

  • Complete underwriting assessment for debt and equity transactions and make recommendations to the VP of Lending and, ultimately, to HPF’s Board Loan Committee.
  • Perform financial assessment, due diligence and project feasibility assessment for potential borrowers and recommend loan structures to the VP of Lending.
  • Prepare and finalize term sheets based on initial borrower assessment and alignment with HPN’s loan products.
  • Prepare and finalize written credit memoranda with detailed assessment and recommendations for terms and credit structure. This includes borrower, property/project and market-level assessment, as applicable, and recommendation on financial covenants and reporting requirements.
  • Provide increasingly advanced technical assistance to borrowers with appropriate recommendations (e.g. dashboards, board packages, audit presentations, etc.) through the application and underwriting process.
  • Maintain up to date information on deals in underwriting in Salesforce.
  • Present credit assessment directly to HPF Board for review and approval.
  • Work with the borrower and external parties through the loan commitment and then assist in transition to closing process, which is led by the Loan Closing Manager.
  • As needed, oversee third-party underwriting consultants to guide workflow priorities and borrower expectations.
  • Facilitate post-closing hand off to portfolio management team.
  • Support the review and update of HPF loan policy and revamp of credit memorandum templates.

Other Programmatic Duties (20%)

  • Provide lending updates for HPF website, marketing collateral, and other communications (in coordination with HPN communications staff).
  • Develop lending business financial projections based on loan pipeline.
  • Prospect and research new product ideas and programs (e.g. NMTC program for single family, high-leverage A/B note structure acquisition product, mezzanine lending, etc.)
  • Assist President of HPF with a variety of projects, including:

    1. HPN member peer exchange initiatives related to CDFIs;
    2. HPN’s New Market Tax Credit program for single family development; and
    3. Community Aggregators Group (CAG), a platform designed to acquire bulk single-family assets.


  • Bachelor’s Degree, preferably in finance or accounting. Advanced degree in related field a plus.
  • Minimum 3-5 years of professional experience as an underwriter or financial analyst, preferably with a CDFI or similar organization. Credit analysis training a plus.
  • Knowledge of how to develop proforma financial statements, cash flows and credit analysis with relative independence.
  • Knowledge of affordable housing development, finance, and nonprofits preferred.
  • Knowledge of closing process and legal documentation for debt transactions a plus.
  • Excellent written and oral communication.
  • Aptitude to steward time and multiple inquires to achieve objectives.
  • Fluency with Microsoft Excel and Word. Familiarity with Salesforce a plus.
  • Commitment to social justice and HPN’s mission.


  • HPN is a remote-first company. “Remote-first” is an organizational strategy that makes working remotely the primary option for most staff. All new staff will be required to be onsite at HPN headquarters or in the Boston area multiple days during weeks designated as All-Staff weeks. There may be additional times when teams are required to travel by their leader, based on scheduled events, team meetings and business needs.
  • New staff need to either (1) provide proof that they are fully vaccinated against COVID-19 or (2) granted an exemption prior to beginning work at HPN. At this time, HPN considers staff “fully vaccinated” when they have completed their primary COVID-19 vaccination series and received a COVID-19 booster.


  • Starting salary for the position is $100,000 (min) to $125,000 (mid), commensurate with education and experience, with a bonus potential.


  • 15 vacation days, 12 sick days, 12 paid holidays, paid personal day, medical, dental and vision insurance, health savings account, flexible spending account, dependent care flexible spending account, retirement and savings plan/401(k) match, group life insurance, short and long term disability, parental leave, sabbatical leave, professional development, PSLF qualified employer, and much more!


    Please submit cover letter and resume here.


    Housing Partnership Network (HPN) is an award-winning membership network of 100+ of the nation’s leading affordable housing and community development nonprofits. Through practitioner-driven peer exchange, policy and innovation, our mission is to leverage the individual strengths and mobilize the collective power of our member organizations. Our vision is that all people live in vibrant and inclusive communities where access to affordable homes creates opportunity and economic mobility. We firmly believe everyone deserves to live in a vibrant community where housing fosters dignity, opportunity, and well-being

    Since our founding in 1992, HPN has collectively served over 12.8 million people; developed, rehabilitated, or preserved almost 500,000 affordable homes; and launched 14 successful social enterprises. Our work has been recognized with honors including the MacArthur Award for Creative & Effective Institutions and Wells Fargo NEXT Award for Opportunity Finance.


    HPN is committed to creating a diverse and equitable environment and is proud to be an equal opportunity employer. HPN recruits, employs, trains, compensates, and promotes regardless of race, color, religion, gender, gender identity or expression, sexual orientation, national origin, genetics, disability, age, veteran status and other protected status. We believe that the more inclusive we are, the better our work will be. We aspire to build a diverse team, one that better reflects the people and communities we serve. Applicants who contribute to this diversity are strongly encouraged to apply.


    Collaboration - We are a true network. We believe in the power and benefits of broad engagement, empowerment and collaboration.

    Connection - We actively build relationships that connect people, ideas, and organizations to forge new paths for improving communities.

    Racial Equity - We are committed to diversity, equity and inclusion at HPN, and helping members advance initiatives that dismantle long-standing systemic racial biases and discrimination to achieve economic and social justice.

    Inclusion - We recognize our power comes from the collective and cooperative nature of our work, based on an environment that is inclusive of diverse experiences, backgrounds and perspectives.

    Respect - We are open, honest, and respectful in all of our interactions which strengthens our relationships, our mission, our work with colleagues and members, and ultimately the lives of the people we all serve.

    Transformation - We work with our members to transform our industry by creating systemic solutions to help people who live in our communities to thrive.