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JOB SUMMARY 

The HMFA Internship Program emphasizes a broad range of housing and finance activities within various divisions to stimulate the development of professional understanding and skills. The Internship will last for two years, during which time the intern will be placed in a specific division of interest or may rotate between any combination of up to four divisions, including but not limited to: Multifamily Programs and Credit, Multifamily Lending and Preservation, Tax Credit Services, Policy and Planning, Supported Housing and Special Needs, Contract Administration and Property Management. The Intern will work with each assigned Division Director and multiple mentors for eight (8) weeks to learn about the various operations of each Division. The intern will perform tasks, including but not limited to those listed below.

JOB RESPONSIBILITIES 

Multifamily Programs and Credit: 

1. Assist with the underwriting of multifamily rental housing applications to gain an understanding of various programs and subsidies, and assist in the marketing, evaluating, and processing of multifamily rental housing loans. 

2. Work with multiple cities, counties, and state agencies on different funding, such as COHA, Greenfunds, Balanced Housing, CDBG, and the Federal Homeless Bank for multifamily projects. Assist with the evaluation of the design of the project, the development cost, the risk factors, and a timely closing; seek cooperation and coordination of federal, state, and municipal agencies, as well as private enterprise. 

3. Work with Credit Officers to conduct site inspections. Assist in making analyses of land suitability, eligibility for subsidies, and marketability of housing. 

4. Assist with the review of developer/sponsor proposals for marketability and make suggestions regarding housing proposals. 

Tax Credit Services: 

1. Work with Tax Credit Analysts to monitor compliance with Section 42 of the IRS Code and NJQAP. 

2. Assist with review of the analysis of rent calculations and the documentation that supports the tenant's income certification. Follow up with the owner to ensure that missing documentation is supplied, which is necessary to bring the project into compliance within the established time frame. 

3. Assist with review of the project's vacancy list to determine low-income unit vacancies in the building and other information that shows where, and to whom, the next available units were rented. 

4. Perform on-site project inspections with Tax Credit Analysts as required. Assist with notification of building owners and the Internal Revenue of noncompliance with Section 42 of the code. 

Human Resources: 

1. Assist with recruitment responsibilities (posting positions, screening resumes, scheduling interviews). 

2. Support onboarding and offboarding processes by preparing paperwork and coordinating new hire orientations. 

3. Maintain and update employee records in HR systems (Neogov, Taleo) 

4. Help coordinate training and development programs 

5. Assist with benefits administration and employee inquiries

6. Prepare HR reports and assist with data analysis 

7. Maintain confidentiality of sensitive employee information 

8. Provide general administrative support to the HR team.

 

Policy and Planning: 

1. Provide program information to individuals, housing sponsors and other members of the public. Attend panels and workshops related to community development and/or community planning projects. 

2. Assist unit with the development and implementation of Agency policy and planning projects and initiatives. 

3. Conduct physical, web-based and academic research related to Agency policy and programmatic goals. 

4. Assist in the development of agency programs to support energy efficiency and renewable energy. 

5. Analyze and understand best practices and new technologies in sustainable development and green building. 

 

Contract Administration: 

1. Assist with follow-up on HUD physical inspections to determine compliance with established procedures. 

2. Assist Contract Administrators with Management and Occupancy Reviews in accordance with HUD specifications. Identify problems related to the operation of the development, management deficiencies, excessive vacancies, or other areas identified by HUD as problems. 

3. Review Section 8 HUD vouchers. Review and correct vacancy payments during and after the initial rent-up period. Review re-marketing efforts to ensure compliance with federal regulations. 

4. Coordinate special projects, including Tenant Rental Assistance Certification Systems (TRACS) and Housing Assistance Payment (HAP) voucher intake and evaluation; assist with the preparation and follow-up of contract documents; when necessary, prepare and submit accurate and informative reports containing findings, statistical information, analyses, conclusions and recommendations. 

5. Learn to maintain the database of electronic transmission of tenant files through the Tenant Rental Assistance Certification System (TRACS) and to receive and transmit TRACS files. Update rent schedules as required. Work with TRACS Coordinators to troubleshoot problematic TRACS files and systematic occurrences within the software. Assist HMFA developments to ensure they satisfy the requirements of TRACS in accordance with HUD regulations. 

Property Management: 

1. Assist HMOs with financial reviews of operating budgets, financial statements, and monthly operating reports on HMFA-financed properties to determine compliance with established procedures and accounting policies. Document all variations to policy and/or operating budget. 

2. Perform physical and follow-up inspections with HMOs. 

3. Assist with identification of problems at "troubled projects", including management deficiencies, excessive vacancies, escrow, and debt service delinquencies. 

4. Assist Occupancy Specialist with duties related to Section 8 and 236 monitoring, including compliance with the H.U.D. 4350.3 Handbook and other rules and regulations outlined in the Management Manual. 

5. Work with the Financial Analyst Coordinator to conduct financial analyses as needed for workouts and refinancing. 

6. Assist with the review of return on equity requests, real estate tax payments, and rent increase requests as needed. 

7. Learn to maintain the database of electronic transmission of tenant files through the Tenant Rental Assistance Certification System (TRACS) and to receive and transmit TRACS files. Update rent schedules as required. Work with TRACS Coordinators to troubleshoot problematic TRACS files and systematic occurrences. Assist HMFA developments to ensure they satisfy the requirements of TRACS in accordance with HUD regulations.

REQUIRED KNOWLEDGE, SKILLS AND ABILITIES 

- Strong analytical and quantitative skills. 

- Ability to enter and retrieve computer data. 

- Ability to communicate effectively orally and in writing and to listen actively.

- Ability to establish and maintain effective working relationships with staff and the general public.

Education and Experience Requirements 

Currently enrolled full-time in an undergraduate degree program. 

Physical Demands 

Non-physical Ability to lift 10 pounds Working Conditions General office environment. 

Program Requirement 

The summer internship is open to college students. A minimum of 15 hours per week is required. Interested applicants must include a resume and cover letter along with their application. The cover letter should be a brief introduction about the student and their interests. Dates and times of availability must also be included. Please note, placement will be on a first-come, first-served basis. We request that you specify an area/division of interest, but we cannot guarantee that your internship will be solely based in that area. Application deadline is TBD. Applications submitted after this date will not be considered for the NJHMFA Summer Internship Program. 

The “New Jersey First Act, , N.J.S.A. 52:14-7 (L. 2011, Chapter 70): Effective September 1, 2011, all employees of State and local government must reside in the State of New Jersey, unless exempted under the law. If you already work for the State or local government as of September 1, 2011, and you do not live in New Jersey, you are not required to move to New Jersey. However, if you begin your office, position or employment on September 1, 2011, or later, you must reside in New Jersey. If you do not reside in New Jersey, you have one year after the date you take your office, position, or employment to relocate your residence to New Jersey. If you do not do so, you are subject to removal from your office, position, or employment. 

Per Executive Order 253, all state employees are required to be vaccinated by October 18, 2021, or undergo weekly testing. Please do not submit your vaccine card at this time. 

The NJHMFA is an Equal Opportunity Employer in compliance with all Federal, State and Local Regulations. 

NJHMFA provides equal employment opportunity to both individuals with veteran status and individuals with disabilities. HMFA employees must complete an Outside Activity Questionnaire (disclosure of outside office or employment) on an annual basis.