Jobs & Internships

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

Loan Asset Manager
Director of Capital Development

Loan Asset Manager 

The Greater Minnesota Housing Fund Asset Manager oversees a development loan fund portfolio, gap loan portfolio and equity investment portfolio. The $58 million Revolving Loan Fund portfolio is currently composed of 60+ outstanding loans for various real estate developments and enterprises, including predevelopment loans, construction loans, bridge loans, mini-perm and permanent loans, with various interest rates, cash flow provisions and other terms. In addition, Greater Minnesota Housing Fund manages a $55 million “gap loan” portfolio (950+ gap loans) composed of subordinate and deferred soft second loans which are largely inactive during the term, but with 4–6 maturing loans annually which must be refinanced, repaid or extended. Additionally, GMHF is in the process of investing in $25 million of rental properties to preserve unsubsidized affordable housing in the metro. The Asset Manager position will ensure ongoing compliance with executed agreements, monitoring the overall health and condition of underlying properties and adherence to various regulatory agreements.  Asset management is fulfilled through disciplined monitoring, analysis, reporting, and problem solving with Greater Minnesota Housing Fund Loan Officers, borrowers, real estate developers, construction managers, and the principals of real estate partnerships.

The specific responsibilities of this position include:

  • Maintaining up to date knowledge of Greater Minnesota Housing Fund’s loan portfolio and underlying collateral.
  • Analyzing and reporting operating performance of existing loan performance against loan covenants, providing feedback on sources of risk, and communicating findings with CFO.
  • Coordinating with external parties including borrowers, processors, property owner/managers, attorneys and others as needed to:
    • Collect, analyze, and report on required project level financial and demographic metrics to mitigate risk.
    • Identify, analyze, and report on loan collateral at risk due to operating issues, high vacancy & turnover, revenue & expenses variances, building condition, market issues and other compliance issues.
    • Monitor loan collateral on an annual basis unless otherwise requested to maintain direct knowledge of the status of the project/collateral and compliance with any loan requirements or covenants.
  • Developing and monitoring an action plan in coordination with the CFO on progress for troubled loans on a regular basis to ensure improved performance. Corresponding regularly with the borrower and internally on performance metrics.
  • Managing, monitoring, and communicating with Finance Staff on the status of delinquent loan payments and loan maturity dates.
  • Coordinate, process, and sell loan assets due to foreclosures within the MN Foreclosure Guidelines.
  • Participating internal communication so team members are kept informed of project status and borrower relationships.
  • Lead the continual improvement of GMHF’s asset management policies and procedures.
  • Travel up to 25% annually for site inspections of project level collateral securing GMHF loans statewide (including possible overnight travel).
  • Other duties as assigned.

Ideal Candidate Profile

  • Minimum Qualifications
    • 7-10 years of experience in real estate development; finance, rent-restricted multifamily asset or property management; or community development.
    • Ability to read and analyze real estate budgets and financial statements.
    • Analytical skills and attention to detail with strong financial skills and knowledge is essential.
    • Proven judgement and decision-making skills.
    • Demonstrated conceptual ability and strategic thinking
    • Excellent oral and written communication, organizational and interpersonal skills, as well as the ability to work under tight deadlines, manage priorities, and complete assigned tasks with minimal management follow up.
    • Experience with lending, banking, affordable housing and/or community development lending a plus.
    • Experience with loan servicing software.
    • Expert proficiency in MS Excel and data-base analysis.
    • Bachelor’s degree required. BA/BS in real estate finance, economics, business, accounting or related field preferred.
  • Personal Qualifications
    • Must be intellectually curious and committed to continual process improvement leveraging your own creativity and acute focus on the details.
    • Maintain the highest ethical personal standards.
    • Personal maturity, emotional intelligence, strong work ethic, task oriented, highly responsive to the day to day needs of the organization, ability to work effectively with a range of personnel, including the CEO, the management team, other professional staff.
    • A high degree of comfort with an iterative analytical process, including extensive feedback, ongoing collaboration and input from peers, extensive scenario planning & business planning.
    • Ability to organize multi-faceted & diverse assignments, manage multiple priorities and projects simultaneously.
    • Comfortable with team work and collaborative work products and interest in work process and work product critiques.
    • High energy, flexibility and drive to work in an entrepreneurial organization. High tolerance for ambiguity, changing demands, and multiple priorities.
    • Passion for affordable housing, community development, and 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 Rebecca Martin at

To download this job description click the link here: GMHF Asset Manager 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