FTEs needed – 2
Reasoning – state and federal regulations, as well as mortgage investment and bond reporting requirements have become more complex.
Compliance officers will conduct internal assessments and compliance testing to provide division and program administration support to ensure an appropriate control environment is implemented and steer the overall technical compliance trajectory of the Agency.
The Code of Federal Regulations – National Archives and Records Administration requires the private sector to employ an internal auditor for every $400 million in average daily assets. NDHFA currently has 1 FTE, allocating part of their time for approximately $1.8 billion in assets.
If 2 FTEs are added, each position would be responsible for the compliance of $900 million in average daily assets in addition to overseeing state and federal regulations as well as mortgage investment and bond reporting requirements.
FTEs needed – 2
Reasoning – succession planning. Need to align business and technical processes to meet citizen and industry expectations.
Business Analysts help Agency leadership to define technical goals, then overseeing development by Information Technology staff. Analyze the flow of data and predict what changes in infrastructure will be necessary as the business grows.
FTEs needed – 2
Reasoning – North Dakota’s low-income population is forecasted to grow 11% by 2025 driving the need for below-market mortgage interest rates and down payment and closing cost assistance.
Mortgage loan specialists work with the Agency’s lending partners to originate loans that are sold to NDHFA when they are closed. All the loan servicing is done in-house with staff working one-on-one with homeowners who experience financial difficulties to help maintain their housing stability and preserve their financial well-being. Both loan documentation and customer service are labor intensive due to the federal regulations associated with lending to low-income households and the inexperience of first-time homebuyers.
NDHFA currently has 10 FTEs servicing 11,494 loans; NDHFA employee-to-loan ratio is 1:1,149. The private market standard employee-to-loan servicing ratio is 1:850.
If 2 FTEs are added, the employee-to-loan servicing ratio will change from 1:1,149 to 1:958, which is still higher than private market standards.