NICOLE SALAZAR

Account Executive

U.S. DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT

2015.12 - Current

Have been an Account Executive since 2015 in field office of Des Moines, Iowa
In July of 2022, accepted the position of Account Executive with the Headquarters Disaster Team
As a Disaster Account Executive, responsible for servicing Disaster designated properties in whichever region they're located.
Responsible for the disaster property during its recovery until the property is repaired and then it is returned to the region for regular servicing again
Process an initial assessment to reach out to any properties in counties that have been declared a Presidentially Declared Disaster
Once that is done, visits to the property to make visual confirmation of damage and work with property owners and agents until the property can be turned over to their local region
As an Account Executive, I have a broad background and experience in various functions; a full and in-depth understanding of HUD Asset Management procedures and guidelines, and government contracting processes
Review and analyze current and historic financial data; compare previous annual financial statements with recent financial information; analyze current operation expenses and project financial data to form the basis of approval or denial of the following actions; rent increases, refinancing, bond refunds, prepayments, modification agreements , transfer of physical assets, substitution of mortgagors, reinstatement's of mortgages, budgets submitted by cooperative housing projects, and recommendations for foreclosures
Provide supporting documentation and technical arguments as part of negotiations with legal and financial professionals who act on the project owner's behalf
Review and evaluate legal documents to determine and ensure compliance with Departmental and other federal, state, and local regulations, requirements, statutes, and policies
Identify projects needing on-site management reviews and plans and conduct management review to evaluate financial management, leasing and occupancy practices, resident management relations, and all other property management practices
Analyze all financial statements and project operations to determine current financial and physical strengths and weaknesses, and to identify unauthorized expenditures of project funds, adequacy of reserves and insufficient working capital and cash flow
Process reserve and residual owner releases
Initiate and follow through on any enforcement referral
Responsible for budget reviews from properties to make sure they have enough rent to meet expenses
This would include the need to adjust any budget line item as I seem fit to change based on current trends or past practices or justifications
Use HUDs financial systems to accomplish these tasks in order to calculate and analyze the budget
Experience with the budget process, including budget formulation and the determination of funding distributions and/or allocations
Trained staff from owners/agent who do not know how to put a budget together in order to get a rent increase
Experience utilizing HUDs accounting systems, preparing, entering, and revising accurate and complex transactions in accounting, finance, or budget information
Responsible for processing contract renewals for expiring Section 8 contracts that are under my prevue according to the type of contract and the contract renewal that they have selected
Responsible for reviewing the contract renewal paperwork to make sure everything is included for review based on their contract type, and mode of renewal option according to the Section 8 Contract renewal guidebook and regulations
This could include reviewing and adjusting budget submissions
Wwork with accounting systems to make sure property has funding availability and other systems to monitor voucher submissions and review any sort of issues they may have in order to make sure property is paid properly
Evaluate and process various grant applications and agreements from notices, laws, rules and regulations, make recommendations for approval and facilitate the final documentation and funding to implement the grants
Review the grant process to ensure the grantee is following all guidelines, rules and regulations to ensure payments are made correctly
Responsible for closing grants when all is finished
Provide customer service to the grant holders
Such grants have included service coordinator grants, emergency capital repair grants, and serving on teams to review national Project Based Service Coordinator grant applications
Review and analyze Management Certifications and related documents to determine approval of management agents
Review many documents for compliance and approval such as 2530's, TPA transactions, Affirmative Fair Housing Marketing Plans, etc
Develop solutions to facilitate maintaining the stock of affordable housing in decent, safe, and sanitary and drug-free conditions based on reviews and inspections
Work with many different clients such as owners, management agents, residents, attorneys, PBCA's and auditors provided guidance on HUD Handbooks, laws, rules and regulations
Understand and evaluate new developments in the market place that could have a potential impact on the business and search for opportunities to enhance business practices to adapt to market changes
Provide recommendations to management on adjusting the business strategy to adapt to changing market conditions
Provide HUD staff, lenders and other stakeholders with excellent customer service
Ensure that all policies and procedures are properly observed, all transactions are conducted with authorized personnel, all records and contracts are complete and up to date, and all customer position limits/risk tolerances are observed
Participate in team discussions, assist in the preparation of technical reports for management, represent the Office in discussions with key stakeholders, and provide lender profiles/summaries on an ‘as needed’ basis
Assists less experienced members of the team and provide knowledge and training when needed to achieve HUDs mission
Responsible for providing recommendations to the Branch Chief for all loan level and deal level credit decision making
Works with Production staff to provide input on new loan applications, including information about market conditions, management agent and owner
Provide information on the multifamily housing portfolio to various deal stakeholders, as needed
Deliver accurate and timely loan and property level information to the various deal stakeholders such as rating agencies, trustees, special servicers, and bondholders
Monthly monitoring of the Watchlist
Monitor the portfolio for potential or imminent defaults and proactively communicate relevant pre-default information to the Owner/Management Agent and mortgagee
When appropriate, recommend corrective actions and assist the Owner/Management agent and mortgagee prepare a corrective plan of action to address the problems
Monitor and communicate any potential operational risk to the supervisor
Review and approve borrower requests related to leases, collateral releases/substitutions, letters of credit, changes in property management, reserve/holdback releases, loan extensions, interest rate reductions and loan modifications, and other project related requests
Review loan covenants such as Loan to Value Ratio (LTV), Debt Service Coverage Ratio (DSCR), and Interest Service Coverage Ratio (ISCR) to determine that the risk attached to the mortgage loan does not unexpectedly deteriorate prior to maturity
The incumbent formulates and issues, with supervisory approval, verbal and written instructions and procedures to the stakeholders including tenants, industry groups, HUD staff, owners and management agents, and provides instructions for non-routine or complex assignments
The incumbent explains published policies, procedures, regulatory and statutory requirements
The incumbent consults with the Office of General Counsel and senior management when needed
The incumbent is considered a journey-level staff member who performs duties involving difficult and routine cases and develops solutions to issues The incumbent explains work requirements, methods, and procedures, giving special instructions on difficult or different operations The incumbent may be called upon to testify in State or Federal Court on matters within the incumbent’s responsibility and sphere of knowledge
Upon request of the supervisor, the incumbent performs technical reviews of work in progress or finished work products of colleagues for accuracy, adequacy, and soundness
The incumbent makes recommendations to the Branch Chief for improvement of work products, particularly where adherence to statutory or regulatory requirements may be questionable
The incumbent assists in estimating and reporting to the Branch Chief the expected time of completion of required work assignments
The incumbent assists in providing on the job training to new Branch employees
This includes providing information on the established policies, procedures, and practices of the multifamily property being discussed as it relates to the work being accomplished
The incumbent identifies and recommends to the Branch Chief other formal and informal training needs
Serves as the primary point of contact for projects assigned for owner/management agent, tenants, Federal, State and local governmental agencies, congressional interests, other external organizations and senior level managers
Responsible for maintaining a professional relationship with property sponsors, owners, management agents and other related parties and keeping them fully informed of identified issues and concerns, and their resolution, and any impact on the Department, tenants and related parties
Assures that property participants’ participation in the project is in accordance with all agreed business agreements
Resolves problems or issues in the most appropriate manner
Provided exceptional customer service, addressing client concerns promptly and effectively to ensure long-term loyalty.
Managed multiple accounts simultaneously while maintaining organization and prioritizing tasks efficiently.
Boosted client satisfaction by developing and maintaining strong relationships through effective communication.
When necessary, negotiate formal agreements on behalf of the Department
Manage the transition of a project from Production to Asset Management insuring that all executed agreements are monitored in accordance with established policies and procedures
Responsible for monitoring lease-up, reviewing monthly accounting reports and other servicing requirements to insure that the property does not go into default
Implements new policies, procedures and guidance in the development and oversight of a multifamily property
Integrates all agency functions including underwriting (planning design review, cost engineering, appraisal, credit evaluation and approval), loan closing, construction, start-up and long term management systems and customer needs of assigned project into a comprehensive procedure within the scope of asset management
Responsible for maintaining individual project timelines as they relate to the management plan goals
Participates in timeline programming decisions affecting long and short range courses of action for assigned projects
Provides input to owners/management agents on operating budgets established for the assigned of portfolio, as needed
Oversees the assigned subsidized portfolio: Works with the Performance Based Contract Administrator (PBCA), Traditional Contract Administrator (TCA) and their subcontractor when appropriate to insure compliance with HUD requirements; process all contractually obligated paperwork for HUD-administered contracts including Project Rental Assistance Contracts (PRAC) properties; perform administrative oversight on the TCA and PBCA properties and provide feedback to the Contract Administrator Oversight Monitor (CAOM) regarding any noted performance issues
Performs Management and Occupancy Reviews on properties in the assigned portfolio
Review and analyze current and historic financial data; compares previous annual financial statements with recent financial information; review and analyze monthly accounting reports; analyze current operation expenses and project financial data to form the basis of approval or denial of the following actions; rent increases, refinancing, bond refunds, prepayments, modification agreements, interest rate reduction, transfers of physical assets, changes in the corporate charter and by-laws, substitution of mortgagors, reinstatements of mortgages, budgets submitted by cooperative housing projects, and recommendations for foreclosures and other matters presented
Provides supporting documentation and technical arguments as part of negotiations with legal and financial professionals who act on the project owner’s behalf
Consults with the Department’s Office of General Counsel (OGC) in reviewing and evaluating legal documents to ensure compliance with Departmental and other federal, state, and local regulations, requirements, statutes, and policies
Analyzes all financial statements and project operations to determine current financial and physical strengths and weaknesses, and to identify unauthorized expenditures of funds, adequacy of reserves, and insufficient working capital and cash flow
Initiates and follows through on enforcement actions
When necessary, refer projects to the Departmental Enforcement Center for enforcement
Works with sponsors, owners, management agents, and communities to assist in facilitating the development of Neighborhood Networks community learning centers and providing support for such tenant initiatives as crime control, clean-up days, day care availability, etc
Provides technical assistance to resident organizations, owners, management agents, for initiating and implementing resident involvement in the management and or purchase of HUD-Owned, HUD-Held, and Insured Multifamily Housing
Provide support for Service Coordinator program for properties in the assigned portfolio
I’m proficient in interpreting laws, rules, regulations, notices, CFR’s and many HUD Handbooks that pertain to the job function of Account Executive in Multifamily Housing
I have participated in many trainings and PowerPoint presentations in every job that I have held.
Provided exceptional customer service, addressing client concerns promptly and effectively to ensure long-term loyalty.
Managed multiple accounts simultaneously while maintaining organization and prioritizing tasks efficiently.
Boosted client satisfaction by developing and maintaining strong relationships through effective communication.

Summary

Overview

Work History

Account Executive

Funding Specialist

Housing Management Specialist

Secretary (Single Family)

Clerk (Single Family)

Education

HIGH SCHOOL DIPLOMA -

High School Diploma -

Skills

Relevantexperience

Timeline

Account Executive

Funding Specialist

Housing Management Specialist

Secretary (Single Family)

Clerk (Single Family)

HIGH SCHOOL DIPLOMA -

High School Diploma -

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