Economic Development Specialist
Job Description
May 2011

The Economic Development Specialist is a part of the Economic Development Department and provides  direct services with emphasis on small business development, foreclosure prevention and loss mitigation, credit counseling and home rehab lending. 

This work dovetails with the NDC’s mission to enhance the quality of life, to stabilize the neighborhoods, and help people build assets and individual wealth.


Residential Lending/Housing Services Program

  • Manage and track all aspects of the home rehab lending component, working closely with contracted Rehab Specialists and with the NDC’s Administration and Finance Dept. and the Economic Development Assistant to close and monitor rehab loans in process.
  • Market the NDC’s rehab loan products. Prepare marketing materials in both electronic and print format.   Cultivate client leads and maintain a prospect log.Work with Economic Development Assistant to conduct outreach, gather necessary documents and to originate and close loans.
  • Intake and process home rehab loan applications.  Process and interpret credit reports.   Underwrite the loan and review with homeowner. Present loans to Housing Services’ Loan Committee and others for approval or denial.
  • Work with Rehab Specialist to develop work write up of home rehab work to be done.  Work with homeowner to select (at homeowners’ sole discretion), contractors to do work.
  • Working with and through the Rehab Specialist, monitor and track work progress, advising homeowners on any quality or other issues stemming from the rehab work. Work with the Rehab Specialist and the NDC’s Admin & Finance Dept to process progress payments to contractors.
  • Provide weekly and monthly reports to Economic Development on the progress of all rehab work and loans in process.
  • Act as liaison with funders related to this work and regularly report progress to funders and others.


Foreclosure Prevention/Loss Mitigation

  • Counsel homeowners on approaches to take to prevent foreclosure.
  • Working with the Economic Development Assistant, conduct intake of foreclosure prevention applications. Insure all appropriate financial documents, forms and processes are used and collected upon intake and work with homeowner, as specified and approved by the National Foreclosure Mitigation Counseling program (NFMC), the City of Boston and other funders.
  • Evaluate the homeowners’ financial information to determine the best foreclosure prevention strategy and the homeowners’ ability to pay a restructured mortgage. Document the strategy in an National Foreclosure Mitigation Counseling program approved action plan.  Follow through on action plan working closely with homeowner and lender and other appropriate parties. Work with homeowners to repair their credit.
  • Act as liaison between homeowner and the restructuring mortgage lender, making a case to the lender, based on documentation received from homeowner, to refinance or modify the mortgage in order to avoid foreclosure.
  • Maintain foreclosure files in compliance with applicable government and funder regulations and NFMC industry standards. Monitor Borrowers’ loan repayment. Counsel to prevent delinquency, foreclosure. Follow-up with Borrower to track customer satisfaction.  Maintain customer database to cultivate additional prospects.
  • Document all interactions, communications and transactions on each foreclosure case in CounselorMax, or other databases as approved by NFMC and the City of Boston.
  • Participate in training offered by NeighborWorks America and others to stay current in procedures and best practices.
  • Act as liaison with funders related to this work and regularly report progress to funders and others.


Financial Literacy

  • Provide organized opportunities to residents of the NDC’s service area to acquire the critical skills, knowledge and confidence to manage finances and assets wisely and create their own personal financial plan.  Support residents in achieving their financial goals for home ownership, education and/or training, retirement, etc
  1. Provide one-on-one financial counseling to residents.
  2. Provide credit counseling and credit repair services to residents designed to improve their credit scores.
  3. Track and record on a quarterly basis, in CounselorMax, or other client tracking program, each clients’ progress or challenges in meeting their goals.
  4. Refer clients to other support, as needed, to assist them in achieving their goals.
  • Act as liaison with funders related to this work and regularly report progress to funders and others.


Small Business Assistance

  1. Undertake planning to determine the needs of the businesses in Codman Square.  Working with the Director of Economic Development, develop programs and services, in partnership with other agencies, as needed, in support of filling gaps in services.
  2. Work with the Four Corners Main Street program and other entities on business district development issues designed to improve the physical appearance of and the financial health of the businesses and commercial properties in Codman Square.
  3. In conjunction with appropriate stakeholders, provide workshops to assist current or prospective business owners and to provide personal credit counseling to assure that each current or prospective business owner’s personal finances are as stable as possible.
  • Organize workshops, prepare outline of curriculum, and recruit experts in each topic in the curriculum.
  • Participate in community meetings to foster stronger relationships among business and other stakeholders.


Act as a liaison on behalf of CSNDC with a range of stakeholders.  Undertake regular reporting to funders and others.

Other related duties, as required.

Bachelor’s degree in business administration or related degree with 3-5 years relevant experience.  Experience providing financial counseling to residents and small businesses critical. Marketing skills a plus.  Ability to multi-task, and manage multiple tasks and projects, while staying focused and on schedule important. Good written and verbal communications skills and solid knowledge of Microsoft Office programs, including Excel required. Experience working in low and moderate income communities of color a plus.  Bilingual in Spanish or Haitian Creole a plus.