The Senior Loan Officer provides oversight and supervision to a team that performs a series of lending activities, including loan structuring, underwriting, marketing, and research and product development in HAC’s Loan Fund Department. This individual develops, organizes, coordinates, recommends, and implements systems to ensure that appropriate loan underwriting due diligence is completed.
The Portfolio Management Associate is responsible for all aspects of loan closing and loan disbursements for an assigned portfolio of loans made to entities engaged in affordable housing activities in rural communities throughout the United States.
Join the Housing Assistance Council’s Empowering Organizations for Successful Homeowner Rehabilitation learning cohort, specifically designed for organizations embarking on or expanding their homeowner rehabilitation activities. This series, sponsored by HUD’s Rural Capacity Building Program, focuses on strengthening the abilities of nonprofit groups to provide essential rehabilitation services to low-income rural homeowners.
Participants will engage in targeted training sessions that cover every aspect of the homeowner rehabilitation process—from crafting effective marketing strategies to applying the final touches on a project. This curriculum is tailored to equip your team with the necessary technical skills for homeowner rehabilitation, while also deepening their understanding of tailored strategies to meet the unique needs of rural, low-income homeowners. Emphasizing the removal of health and safety risks, enhancing energy efficiency, and preserving existing homes, this program ensures your organization is well-prepared to make a significant impact in your community.
Applications must be submitted by May 15, 2024, using the form provided. Spaces are limited, and selections will be made based on each applicant’s potential impact and alignment with program goals.
Applicants must:
Applicants meeting the initial criteria will need to submit further documentation to confirm eligibility.
To support participation, eligible individuals can receive a travel scholarship for in-person workshop events. Each eligible participant can receive up to $2,000 per training session to assist with travel and training expenses. Organizations outside the contiguous U.S. may receive an increased allowance of $2,500 per session.
Consistent participation is essential. Failure to attend all required sessions will lead to forfeiture of the scholarship for future trainings. This policy ensures that participants fully benefit from the program.
We invite you to apply to this transformative journey with the “Empowering Organizations for Successful Homeowner Rehabilitation” program. By participating you can help create inclusive communities and make a lasting impact on the lives of individuals and families in need of safe, healthy, and quality housing. Together, let’s enhance homes and communities for a brighter future.
Contact: Kristin Blum
kristin@ruralhome.org
(202) 842-8600
Washington, DC, March 6, 2024 – The Housing Assistance Council (HAC) is announcing the creation of the Center for Rural Multifamily Housing Preservation, a cross-disciplinary initiative to preserve rural rental housing, particularly properties financed through the U.S. Department of Agriculture’s “Section 515” program. The Center will provide technical assistance and expertise to preserve the long-term affordability of this critical housing stock. HAC’s Kristin Blum, a recognized expert in the affordable housing industry, has been tapped to lead the initiative.
“The time to act is now,” according to HAC CEO David Lipsetz. “The cost of housing is at a historic high across the United States. Workers, seniors, young people, and families are all feeling the pinch. As the nation’s rural housing intermediary, HAC must do its part to help small towns keep great quality housing and build to meet the demands of the modern economy. The Center will do just that.”
The Center for Rural Multifamily Housing Preservation will promote what works, create solutions where needed, and advance the role of housing organizations in rural communities. It will draw on HAC’s decades of success working with communities to preserve existing affordable rental housing and build more where it is needed. “The Center will bring together HAC’s unique combination of resources – lending, research, policy and direct technical assistance – to both preserve individual properties and redefine the preservation process,” Kristin Blum points out.
Rental homes financed by USDA are an important source of affordable rental housing that can be found in 87 percent of all U.S. counties. The Department’s Section 515 program alone produced 550,000 affordable apartments in rural communities. Unfortunately, the program has not produced new units in over a decade and has lost more than 150,000 of its original units to reach its current size of less than 390,000 units, according to the recent FY2023 Multifamily Housing Occupancy Report. In many rural communities, these apartments are the only affordable rental housing available. Two thirds of those families and individuals in Section 515 properties are seniors or individuals with disabilities, and the average income of tenants is less than $16,000.
In the face of this escalating crisis, existing preservation efforts have suffered from a lack of adequate public and private funding and a disproportionate focus on unique transactions. A cohesive, broad preservation strategy is needed to effectively address this crisis before it reaches its peak in the next several years. Through the Fiscal Year 2024 appropriations bill, Congress has granted USDA the authority to pilot a new proposal to decouple Section 515 mortgages and Section 521 rental assistance – an opportunity that will require substantial stakeholder engagement and capacity-building to be successful.
“These apartments are home to families, seniors, and individuals with disabilities who could otherwise face homelessness,” Lipsetz said. “It’s time for the country – including the federal government and philanthropy – to invest some real muscle in preserving these vital homes before they are lost forever.”
“I can think of nobody better than Kristin to lead this critical initiative,” continued Lipsetz, “She has done remarkable work as a senior member of HAC’s Lending team and brings a wealth of prior experience building the capacity of the nonprofit housing sector.” With support from the USDA and Fannie Mae, the Center for Rural Multifamily Housing Preservation will bring together all of HAC’s expertise across the fields of lending, technical assistance, federal policy, and research in pursuit of transformational solutions to preserve this critical stock of affordable rural rental housing.
For more information, contact: crmhp@ruralhome.org
The Housing Assistance Council (HAC) is a national nonprofit that supports affordable housing efforts throughout rural America. Since 1971, HAC has provided below-market financing for affordable housing and community development, technical assistance and training, research and information, and policy formulation to enable solutions for rural communities.
HAC’s 2024 Rural Housing Policy Priorities
HAC’s 2023 Senate Banking Committee Testimony on Section 515 Preservation
HAC’s 2022 Rural Research Brief on Section 515 Preservation
HAC’s 2018 “Platform for Preservation” Report on Section 515 Preservation
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The Community Builder plays a crucial role in advancing HAC’s mission, engaging in a range of responsibilities and special projects that focus on place, people, and community-based strategies. With a primary emphasis on developing and sustaining the capacity to improve housing and communities in rural areas, the Community Builder provides direct technical assistance, coaching, and training to nonprofit organizations, local and regional government agencies, and others. This role is key in facilitating affordable housing and community and economic development opportunities through state and federal programs.
HAC is seeking to hire six (6) Community Builders, each bringing expertise in one or more of the following areas: Financial Management and Accountability, Real Estate Finance, Construction Management, Housing on Native American Lands, Community and Public Facilities, Homeless Prevention and Assistance, and Homeowner Rehabilitation.
This position is open to candidates located anywhere in the contiguous United States, within a two-hour drive of a major airport, enabling efficient travel as needed.
The Housing Assistance Council (HAC) is dedicated to supporting those who have answered the highest call of service to our nation. Our Affordable Housing for Rural Veterans (AHRV) Initiative aids local nonprofit housing organizations in improving housing conditions for veterans in their communities with support from The Home Depot Foundation. The brick-and-mortar projects that AHRV funds provide critical home repair, rehab, and construction for low-income, elderly, homeless, and/or disabled veterans. All this support is tailored to meet the specific needs of veterans in each community. At HAC’s 2023 National Rural Housing Conference, the Veterans Stakeholder Meeting convened practitioners from around the country to share ideas and best practices. The centerpiece of the meeting was a series of presentations from a panel that included: Housing organizations from across the country benefited from hearing detailed presentations on housing efforts and gained insights on how organizations can work to better support veterans. Here are four key takeaways from the meeting:
The National Rural Housing Conference brought together practitioners from across the country. By sharing ideas as broad as the importance of partnership and as specific as the nitty-gritty of how a question is asked, these leaders learned lessons they can put into practice in their communities. As each community tailors these best practices to meet the specific needs of their veterans, HAC and The Home Depot Foundation will be there, supporting the local initiatives that bring us one step closer to a nation in which all veterans can have a healthy, accessible, and affordable place to call home.
HAC is proud to present our 2023 Loan Fund Impact Report. In fiscal year 2023 (October 2022-September 2023), our Loan Fund provided $31.4 million in financing through 34 loans—including 13 (37%) made to minority-led borrowers—to build, rehabilitate, or preserve 900 affordable homes.
HAC’s Affordable Housing for Rural Veterans (AHRV) Initiative supports local nonprofit housing development organizations that meet or help meet the affordable housing needs of veterans with low incomes in rural places. Grants typically range up to $30,000 per organization and must support bricks-and-mortar projects that assist low-income, elderly and/or disabled veterans with critical home repair, accessibility modifications, support homeless veterans, help veterans become homeowners, and/or secure affordable rental housing.
HAC’s AHRV Initiative is funded through the generous support of The Home Depot Foundation. Applications are due by 4:00PM (EST) on or before Monday, January 22, 2024. For more information, contact HAC staff, ahrv@ruralhome.org. No phone calls please. Program staff will be available to answer questions during the Grant Funding Opportunity HAC 2024 AHRV RFP Overview webinar on January 10, 2024, at 2PM (ET).
Download the Application Package: Application (WORD) | Application Guidelines | Webinar Presentation
Rory Doyle
Housing Assistance Council