Jobs & Internships

The following three positions are currently open at Greater Minnesota Housing Fund: 

NOAH Preservation Multifamily Loan Originator
Loan Closing Manager
Director of Capital Development

Naturally Occurring Affordable Housing (NOAH) Preservation Multifamily Loan Originator 

Greater Minnesota Housing Fund (GMHF) is seeking a multifamily real estate finance expert to launch a new mezzanine loan fund within GMHF’s Community Development Finance Institution (CDFI) Division. The new loan fund (the “Small NOAH Fund”) is available to provide financing for unsubsidized multifamily properties of 4-40 units. The ideal candidate will demonstrate knowledge and expertise in multifamily real estate finance, and have proven ability to develop new business relationships to drive loan volume. This is a newly created position with primary responsibility for deployment of the Small NOAH Fund through the origination of multiple loan products both directly, using GMHF capital, and through strategic partnerships with other lenders in this space. This position requires knowledge and experience in financial analysis and deal structuring for private sector real estate acquisition and rehabilitation. This position reports to the Director of Lending and Programs and plays a key role in the continued success of the CDFI.

The position will conduct the following activities:

1. New Business Development: Implement business development strategy to engage new and existing borrowers in preservation of smaller scale affordable housing properties to advance GMHF’s strategic goals and drive community impact through investments by the Small NOAH Fund.

  • Develop cross-selling partnerships with lenders active in the Small NOAH market to identify borrower prospects and secure mezzanine loan referrals for the Small NOAH Fund.
  • Identify key lending targets include real estate developers, owner-operators of existing multifamily properties, public agencies, and community organizations.
  • Develop and maintain pipeline of loans to achieve an over-commitment ratio of 120% (committed loans as a percentage of Small NOAH fund capital)
  • Coordinate with the Director of Communications, Senior Management, and consultants as needed to develop marketing materials and platform, promote the Small NOAH Fund, and communicate goals and impacts to borrowers, lending partners, funders and other key stakeholders.
  • Conduct outreach through presentations and participation at industry conferences, direct outreach through professional network, and engagement with governmental partners and community groups in key markets.

2. Loan Origination: Execute tasks required for the successful completion of the loan approval and closing process with primary responsibility for deal structuring and credit analysis.

  • Gather necessary documents and perform due diligence review of all relevant project information including surveys, appraisals, rent rolls, scopes of work, building condition needs assessments, environmental assessments, market information, and other reports
  • Prepare project proformas and conduct project feasibility analyses
  • Coordinate with GMHF’s Senior Underwriter to secure underwriting sign-off
  • Prepare written credit reports and present loan recommendations for review and approval by applicable governance committees
  • Maintain proper documentation of all funding awards and decisions
  • Finalize loan terms with borrowers
  • Prepare and review loan documents in consultation with legal counsel
  • Coordinate with GMHF’s Closing Manager to ensure timely and accurate closing and funding of approved loans
  • Provide technical assistance to borrowers, project partners, and other stakeholders as needed to overcome barriers to project success and/or timely completion.

3. Capital Raising: Promote the Small NOAH Fund to potential investors and assist in securing additional investments to grow the fund.

  • Assist in development of annual goals and work plan to meet ongoing capitalization needs of the Small NOAH program.
  • Provide loan demand analysis and market research as needed to evaluate capital needs.
  • Coordinate with Director of Communications, Senior Management, and consultants as needed to prepare materials for distribution to potential investors, organize investor calls and meetings as needed, and ensure prompt and responsive follow-up to all requests for information by current and prospective investors.

4. Small NOAH Fund Impact Measurement: Track and report on key metrics to ensure that social impact goals are monitored and fully met.

  • Establish Small NOAH Fund performance benchmarks taking into consideration all investor requirements and GMHF’s strategic goals and priorities for review and approval by Director of Lending and CEO.
  • Develop and implement system for tracking performance benchmarks and report results to Senior Management on a monthly basis. Coordinate all reporting with the Loan Portfolio and Data Analyst.

5. Other duties and responsibilities as assigned.

Ideal Candidate Profile

  • Is an emerging leader with a passion for social investing, community development, and multifamily finance with a minimum of 5 years progressive professional experience in the field of multifamily real estate finance, underwriting and/or commercial real estate lending.
  • Possesses proven skills in multifamily real estate finance and small commercial lending.
  • Is extremely well-organized and self-directed, able to work in a high energy team environment with extensive interactions, and able to work independently.
  • Is able to plan, schedule, and prioritize responsibilities, and work productively under strict time constraints, and organize and schedule tasks in support of multiple projects with a wide range of production and monitoring requirements. The position requires strong interpersonal and organizational skills, and the ability to work in a fast-paced environment with multiple priorities while meeting firm deadlines.
  • Is able to deal effectively with other dynamic internal staff, and external parties, including developers, owner-operators, investors, funders, government agencies, and the general public.

Additional qualifications include:

  • Thorough understanding of partnership structures and partnership issues.
  • Knowledge of multifamily real estate credit analysis, unsecured lending to nonprofit and for-profit organizations, and ability to underwrite multifamily real estate properties.
  • Experience negotiating partnerships and closing multifamily transactions with investors.
  • Excellent verbal communication skills, writing and publication skills.
  • High tolerance for ambiguity and able to navigate uncertain situations.
  • Ability to work on a variety of programs and projects simultaneously.
  • Strong computer skills required in MS Office, high proficiency in Excel and Word.
  • Bachelor’s degree in business, finance, multifamily real estate development, planning or equivalent employment experience.

Position Salary, Benefits, and Reporting

Availability: Immediate

Salary: GMHF offers a competitive salary and benefit package.

Benefits: Family medical and dental insurance, employee life insurance, short- and long-term disability insurance, employer contribution to 401k retirement plan, paid time off, negotiated flex time hours.

To Apply: Please contact Joel Bergstrom at Orion Search Group.; (612) 367-4612.

To download this job description click the link here: NOAH MF Loan Originator 9.26.19 Position.


GMHF Loan Closing Manager 

The Greater Minnesota Housing Fund Closing Manager is responsible for managing GMHF’s closing process for a range of financing activities including grants, loans, and equity products. The Closing Manager works directly with other professionals, including legal counsel, real estate developers, lenders, and representative of other agencies and organizations in order to bring funded projects to closing. This position is also accountable for closing document management, permanent record retention, and reporting on closing activities.

The Closing Manager role requires knowledge of common affordable housing financing structures including Low Income Housing Tax Credits and Tax Exempt Bonds. The Closing Manager reports to the Director of Programs and Lending and works closely with other public and private financing entities.

Pre-closing Due Diligence

  • Prepare and distribute due diligence checklists to borrowers.
  • Attend due diligence calls with borrower and other partners.
  • Prioritize and monitor workflow to meet closing deadlines; track status of due diligence items and follow up to facilitate timely and efficient review.
  • Coordinate review of documents by GMHF staff and attorneys.
  • Review financing documents to ensure comments and edits are incorporated as agreed.
  • Review preliminary documents from closing agent such as the legal description of the property to be encumbered, settlement statement, title commitment, organizational documents, survey, insurance policy and UCC searches to ensure the title of the property is acceptable to GMHF
  • Prepare final documents and coordinate execution as required for closing.
  • Verify closing draws and prepare loan funding documentation.


  • Perform thorough review of financing package to ensure that the transaction complies with the terms outlined in the Loan Commitment/Credit Report at final approval.
  • Coordinate loan funding with closing attorney, prepare and submit wire request as required.
  • Attend closing in person as needed.


  • Perform a post-closing review of executed financing documents to ensure all documentation is complete, accurate, and in compliance with regulatory requirements.
  • Assemble collateral file, assign number and input loan data into applicable line of business application (TEA).
  • Review all invoices for third-party fees and submit for payment.
  • Facilitate timely hand-off of closed loans to asset management for ongoing monitoring.

Grant Award Execution

  • Track grant award activity and perform or direct needed follow-up including issuance of grant award notifications, execution of grant agreements, entry of data into applicable line of business application (TEA), and disbursement of funds.
  • Assemble and retain official record of activity for each grant.

Record Retention & EDMS Administration

  • Maintain official financing records in accordance with legal record retention requirements and GMHF’s electronic document management protocol.
  • Organize drafts and final documents from pre-closing through the final closing to allow for efficient search and retrieval of items needing review and execution.
  • Conduct complete post-closing audit of each financing to ensure retention of accurate and complete records.

 Reporting & Quality Control

  • Maintain compliance with established work flow; recommend process improvements and help identify technology needs related to efficient closing of financing products.
  • Implement process changes as directed to improve efficiency, customer service, and work product quality.
  • Report on loan production activity to Director of Lending and provide updates as required for effective cash management.
  • Coordinate data reporting with Loan Portfolio and Data Analyst and Manager of Accounting.


  • Participate in projects as needed to accomplish overall goals and strategies.
  • Other duties & responsibilities as assigned.


Professional Qualifications

  • Bachelor’s Degree or equivalent experience
  • 3- 5 years of loan closing experience with multifamily or single family housing;
  • Ability to understand and analyze legal documents associated with real estate sales and development.
  • Analytical skills and attention to detail with strong housing finance knowledge is essential.
  • Ability to plan, schedule, and prioritize responsibilities, work under pressure to meet strict deadlines, and consistently produce high quality work products;
  • Ability to work both independently and collaboratively in a dynamic organization;
  • Knowledge of affordable housing finance programs such as:
    • state agency financing programs,
    • federal low income housing tax credits and tax exempt bonds,
    • HUD and USDA-RD federally subsidized mortgage products,
    • Freddie Mac and Fannie Mae affordable housing products;
  • Proven track record of effective project management involving multiple objectives, stakeholders and programs;
  • Proficiency in MS Office (word processing, spreadsheet, database, other applications);
  • Experience with lending, banking, affordable housing and/or community development lending.
  • Experience with loan servicing software.

Personal Qualifications

  • Ability to creatively and effectively conduct successful work-outs of troubled projects;
  • Ability to travel (20-25%) in Greater Minnesota (80 counties outside of the metro);
  • Personal maturity, highly professional social skills, ability to remain objective, rational and discrete in stressful situations such as business negotiations, resolving differences of opinion, completing complex transactions, and collaborating with multiple internal and external stakeholders;
  • Interpersonal skills necessary to deal effectively with staff, funders, the public;
  • Excellent oral communication skills, writing and publication skills;
  • Passion for affordable housing, community development, social justice.


Position Salary, Benefits, and Reporting

Availability: Immediate

Salary: GMHF offers a competitive salary and benefit package.

Benefits: Family medical and dental insurance, employee life insurance, short- and long-term disability insurance, employer contribution to 401k retirement plan, paid time off, negotiated flex time hours.

To Apply: Submit resume and cover letter to Alexis Lancaster at

To download this job description click the link here: Loan Closing Manager Job Description


Director of Capital Development 

The Director of Capital Development creates and implements the overall strategy for raising funds to sustain and expand the capital base of Greater Minnesota Housing Fund (GMHF) and its subsidiaries the Minnesota Equity Fund LLC (MEF) and the NOAH Impact Fund LLC (NOAH). Depending on the business line, this includes working with the management team to secure operational and program grants from philanthropic institutions, debt capital, and investment capital from private institutional investors, philanthropies, and public agencies.

The Director of Capital Development reports to the Chief Operating Officer. The Director of Capital Development is responsible for developing new business relationships and interacting on a daily basis with the CEO, key leadership, the lending/program staff, developers, and funders/investors. The position requires significant experience in raising capital, including demonstrated experience securing major federal grants, investments, and debt from institutional investors.

The Director also plays a lead role in strategic and business planning for the organization, measuring the organization’s outcomes and mission impact, and implementation of special initiatives related to new capital sources. The position requires experience in managing multiple complex projects throughout the development cycle, from initial concept to capital identification, including grant writing, funder relations, program implementation, reporting and outcome analysis.

The specific responsibilities of this position include:

Capital and Fund Raising

  • Develop multi-year and annual capitalization plans that identify and quantify grants, loans (equity-equivalent debt investments [EQ2s] and program-related investments [PRIs]) and other capital sources for the organization in coordination with GMHF’s leadership.
  • Conduct research on public and private funding sources (with emphasis on philanthropic, financial institution, state and federal, and corporate sources).
  • Identify, cultivate and recruit impact investors from the banking, philanthropic, corporate and public sectors, coordinating with internal leadership, including outreach, presentations, program structuring, funding applications, and reporting.
  • Conduct ongoing communications to establish and maintain investor engagement utilizing key internal leadership to broaden engagement.
  • Assess viability of prospective investors and fit with GMHF programs and products in consultation with internal leadership.
  • Write and submit initial inquiries as well as grant and investment proposals that reflect GMHF’s voice and vision to prospective funders to successfully achieve goals and objectives.
  • Actively collaborate with program staff on program ideas, concepts, and funding prospects.
  • Prepare persuasive reports and presentations for internal and external audiences.

Funder and Investor Relations

  • Develop and manage investor and funder relationships.
  • Sustain communications with funders and investors to generate ongoing future investments.
  • Manage special initiatives related to new capital sources and manage relationships with major funding partners and agencies.

Fund Management and Reporting

  • Manage all interim and final funder and investor reports including coordination with other staff as needed, ensuring all reporting requirements are met and conduct follow-up with funding agency staff as needed.
  • Maintain a system to track all past, current and prospective funders with applicable organizational and contact information, grants received and reporting dates on all past and current funders, and status of communications with funders.


  • Maintain a sound knowledge and understanding of GMHF’s programs and initiatives to be able to effectively seek new capital opportunities and accurately represent GMHF to potential funders.
  • Work with GMHF leadership to design and develop strategic plans, including multi-year capitalization projections and analysis of growth opportunities, annual work plans and capitalization goals, innovative finance products and fund structures to match investor interest.
  • Support emerging initiatives and capital formation needs at GMHF as needed.
  • Other duties as assigned.

Ideal Candidate Profile

  • Minimum Qualifications
    • 7+ years applicable experience in capital raising and fund development, including demonstrated ability to raise funding from major financial/institutional investors, government agencies & private foundations.
    • Ability to write technical materials and narratives for specialized audiences.
    • Ability to manage multiple, complex projects with a wide range of project management and monitoring requirements.
    • Team oriented and able to employ a collaborative approach, demonstrate high level of emotional intelligence, and ability to cross-manage a team without direct supervision.
    • Strong skills with business software required, including proficiency in MS Excel and MS Word.
    • Bachelor’s degree from a 4-year college or university required.
  • Preferred Qualifications
    • Experience with government relations, federal agencies, and financial/institutional investors.
    • Understanding of affordable housing finance, low-income housing tax credits, federal agency programs and compliance requirements, and the role of Community Development Finance Institutions (CDFIs).
    • Demonstrated experience with private placements, regulations, structured funds, real estate underwriting, lending to nonprofit and for-profit organizations, and general knowledge of banking and/or revolving loan funds.

Position Salary, Benefits, and Reporting

Availability: Immediate

Salary: GMHF offers a competitive salary and benefit package.

Benefits: Family medical and dental insurance, employee life insurance, short- and long-term disability insurance, employer contribution to 401k retirement plan, paid time off, negotiated flex time hours.

To Apply: Submit resume and cover letter to Rebecca Martin at

To download this job description click the link here: Director of Capital Development Job Description.

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Greater Minnesota Housing Fund
332 Minnesota Street
Suite 1650 West*
Saint Paul, MN 55101

Main 651.221.1997
Fax 651.221.1904

GMHF is a Partner You Can Trust