Compliance Director

Fairstead is a vertically integrated real estate company specializing in affordable and mixed-income housing. Since 2014, Fairstead has acquired and/or developed more than $4 Billion of multifamily property across the country, and today owns a portfolio of 16,500 apartments in 18 states. The company’s comprehensive platform provides hands-on expertise across all multifamily disciplines, including acquisitions, development, design and construction, energy and sustainability, property management and social services.

Fairstead’s primary mission is to provide high quality housing to all regardless of income, and to make our stakeholders feel “Right at Home.” We accomplish this through an empathetic and innovative approach, and by utilizing our interdisciplinary platform as an investor, developer, owner, and operator. Fairstead provides hands-on expertise across all multifamily disciplines, including acquisitions, development, design, construction, energy, sustainability, property management and social services. With a long-term commitment to its residents, communities, and partners, the Fairstead team stands out by:

• Listening to and understanding the needs of its residents, communities, partners, and stakeholders alike
• Developing and preserving high quality affordable housing in an innovative and sustainable fashion
• Creating a positive social and environmental impact within the properties and communities it serves

Fairstead’s Core Values

• Empathy
• Innovation
• Entrepreneurship
• Determination
• Integrity

Position Description

A Compliance Director provides leadership and support to the compliance, property management, and ownership teams to maintain compliance with and understanding of all affordable housing programs. In addition, a Compliance Director manages the day-to-day activities of the compliance managers within their team to ensure properties are compliant with tax credit, HUD and other housing program regulations and provides compliance technical support along with training and guidance to compliance and property management staff.

At the direction of the Vice President of Compliance, the Compliance Director is directly responsible for the following:

• Lead, manage, and direct the activities of the compliance managers within their team.
• Ensure and certify all initial qualifying household files from initial move-in/qualification through 1st year recertification for all new/re-syndication LIHTC properties and units are fully vetted and in compliance with all LIHTC income requirements. This includes review and certification by in-house compliance resources as well as 3rd-Party LIHTC audit resources.
• Ensures all tenant’s files, its records, and waiting list are maintained in accordance to the governing agency’s standards.
• Liaisons and builds proactive, positive relationships with investors, state housing finance agencies, Department of Housing and Urban Development (HUD), Public Housing Agencies (PHAs)and other regulatory agencies
• Provide an audit, review, and pre-occupancy/finalization approval process for household income certifications and recertifications across all applicable affordability programs for any given property/unit (ie. LIHTC, Sec. 8, Sec. 236, Home, Bond, etc.).
• Audits Resident Files for compliance with Low Income Housing Tax Credit (LIHTC or Section 42), HUD Section 8 projects as well as state and local requirements where applicable.
• Train new and existing property managers in all aspects of compliance.
• Support our property managers and regional managers when they have questions regarding compliance programs or procedure.
• Provide regular updates to the VP of Compliance on the activities of their compliance team
• Pursues and maintain current, comprehensive knowledge of all affordable housing compliance programs present in Fairstead Management’s current or potential portfolio, ensuring awareness of and procedural guidelines for administering and maintaining compliance with those programs.
• Ensure all compliance-related internal and external required reporting, including annual state agency LIHTC compliance reporting, is completed and submitted accurately and timely.
• Oversees completion of files to ensure they are compliant with applicable Affordable Programs including Move-Ins, Annual Recertification, Interim Recertification, Gross Rent Changes, Terminations, and Initial Certifications.
• Monitors waitlists and EIV master binders for compliance with federal regulations and requirements.
• Assists Vice President of Compliance in preparing and submitting HUD documents, such as Management Entity Portfolio, Project Owner’s Certification for Owner-Managed Multifamily Housing Projects, Affirmative Fair Housing Marketing Plans, Tenant Selection Plans, lease packages, etc.
• Completes HUD related paperwork for rent increases and management fees.
• Provides superior customer service to residents and prospective tenants by promptly responding to all incoming calls, messages, and emails in a professional, respectful manner

• Completes Utility Analysis requests on Section 8 properties.

• Performs other duties assigned

• 7+ years’ of affordable housing compliance experience (e.g., Section 8/202/811/LIHTC/Bond/multilayered programs)
• Bachelor’s Degree in Business of Related field
• Experience reviewing, interpreting, and applying government regulations;
• TACCs, COS, BOS, AHM or other widely-known affordable housing compliance certifications preferred;
• Proficient with Microsoft Office Suite (advanced excel functions)
• Yardi experience (preferred) or ability to learn new software quickly
• Must be willing to travel