Honors Fellow
Location Trenton, NJ
Job Code 793
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NOTICE OF VACANCY
THE EXECUTIVE DIRECTOR OF THE NEW JERSEY HOUSING AND MORTGAGE FINANCE AGENCY INVITES APPLICATIONS FROM QUALIFIED CANDIDATES FOR THE FOLLOWING:
Job Title: Honors Fellow
Salary Range: $49,000
Division: Executive
FL Status: Exempt
Issue Date: 1/6/26
Closing Date: 3/17/26
Union Status: Non-Union, Exempt
Employment Status: Full time
JOB DESCRIPTION
The New Jersey Housing and Mortgage Finance Agency (NJHMFA) advances the quality of life for residents of, and communities throughout, New Jersey by investing in financing, and facilitating access to affordable rental housing and homeownership opportunities for low and moderate-income families, older adults, and individuals with specialized housing needs.
For recent college graduates between May 2025 and May 2026, individuals in the last semester of a bachelor's degree or individuals pursuing advanced degrees, to participate in an innovative program. The Honors Fellow Program ("Program") is designed to be a twelve (12) month on-the-job training opportunity. The Program will introduce participants to various aspects of the development and financing of affordable housing throughout the state.
Honors Fellows will learn about, and assist in, program development and implementation, research, and participate in special projects. Honors Fellows will be provided the opportunity to work on projects involving the new construction of affordable housing, rehabilitation and rental housing, mortgage assistance, and foreclosure prevention. Honors Fellows will have the opportunity to participate in an intra-divisional rotation (several units within one division) although additional opportunities may arise through the year in other divisions.
Upon successful program completion, Honors Fellows will have a robust understanding of the Agency's mission and vision, and the opportunity to apply for a position in one of the Agency's divisions, in conjunction with Agency needs and budget. This is a 12-month program. If the Honors Fellow is hired at the conclusion of the Program, he/she is expected to commit to one additional year of employment at the Agency.
Those hired under NJHMFA's Honors Fellow Program are full-time Agency employees with benefits including: healthcare, retirement, and tuition assistance. This program is for those interested in state government service, specifically in affordable housing in New Jersey. Please visit the Honors Fellow webpage, under the About tab, to learn about application requirements. https://nj.gov/dca/hmfa/about/careers/honorsfellowprogram/
Honors Fellows will participate in the following duties as appropriate:
Assist in data collection for Agency programs.
Assist in research, program development, evaluation process and procedures.
Respond to requests for information internally and from various government entities such as DCA and the Governor's Office.
Assist in responding to requests for information by the public.
Assist in review of mortgage loan commitments and closing documents.
Assist in the development of Agency policies.
Assist in Agency program compliance.
Assist in drafting revisions to Agency regulations.
Assist with special projects as assigned.
Assist in all aspects of project financing.
Assist in Board meeting preparation.
Assist in other duties as needed.
MINIMUM REQUIREMENTS
Education / Experience:
Bachelor's (4-year) degree, completion of a bachelor's degree between May 2025 and May 2026, or a bachelor's degree pursuing an advanced degree, and the required knowledge, skills and abilities.
Skills:
Ability to communicate effectively, orally, in writing and to listen actively.
Ability to analyze financial statements and draw conclusions.
Ability to accurately enter and retrieve computer data.
Ability to establish and maintain effective working relationships with staff and the general public.
Ability to organize and accomplish multiple assignments simultaneously.
Ability to apply complex regulations to varying situations.
Maintain positive work atmosphere in an appropriate manner of behavior which ensures cooperation and effective communication with customers, clients, peers and management.
Familiarity with Microsoft Suite.
Certificates & Licenses Required:
A valid driver's license in the state in which the person resides is required only if the operation of a vehicle, rather than employee mobility, is necessary to perform the essential duties of the position.
Physical Demands: Non-physical
Working Conditions: General office environment; some travel required.
ROTATIONS
The below is an example of the rotations, but may not reflect actual rotations.
Intra-divisional: Single Family: The division fosters home ownership in New Jersey, focused on low- to moderate- income first time homebuyers, through first mortgages, down payment assistance programs, and oversight of affordable financing. Fellows will learn about the residential housing market, the mortgage industry, and how affordable housing is administered in NJ.
Intra-divisional: Multifamily: The division performs financial analysis of multifamily rental developments and supportive housing loan applications, develop financial feasibility strategies for projects utilizing various financial structures and review and interpret regulations.
Cross-divisional: Asset Management/Risk Management
Asset Management provides Housing Assistance Payments (HAP) contract support services for HUD, which includes evaluating budget-based rent increase requests and adjustments to the Baseline Utility Analysis, processing monthly HAP vouchers and special claims, completion of Management and Occupancy Reviews. The division also performs financial analysis of budgets, audited financial statements and operating reports, and may conduct physical inspections and processes various escrow disbursements for Agency finance developments.
Risk Management: This division consists of: Special Programs, which assists in administering Agency programs; Insurance, which is responsible for insuring Agency properties and those that have Multifamily loans; Risk Management, which audits Multifamily loans, Return on Equity Requests, works with other divisions on construction cost audits and property transfers.
Intra-divisional: Marketing /Policy: Policy and External Affairs, includes Marketing, and works across divisions to produce research, reports, and recommendations in furtherance of HMFA's mission. In the Policy portion of the rotation, the Fellows will be expected to work independently and as part of a team, under the direction of the Director, to conduct policy and data analysis, and other research that will inform programmatic development, policy recommendations, and legislative outreach. In the marketing portion of the rotation, the fellow will be expected to work with staff to draft press releases, talking points, and other materials that can be utilized to advance the work of NJHMFA.
PROGRAM DETAILS
The "New Jersey First Act," N.J.S.A. 52:14-7 (L. 2011, Chapter 70) : Effective September 1, 2011, all employees of State and local government must reside in the State of New Jersey, unless exempted under the law. If you already work for State or local government as of September 1, 2011, and you do not live in New Jersey, you are not required to move to New Jersey. However, if you begin your office, position or employment on September 1, 2011 or later, you must reside in New Jersey. If you do not reside in New Jersey, you have one year after the date you take your office, position or employment to relocate your residence to New Jersey. If you do not do so, you are subject to removal from your office, position or employment.
The NJHMFA is an Equal Opportunity Employer in compliance with all Federal, State and Local Regulations. NJHMFA provides equal employment opportunity to both individuals with veteran status and individuals with disabilities.
This position requires a two-year commitment, one of which includes participation in, and successful completion of, the Honors Fellow Program.
NJHMFA provides a comprehensive benefit program which includes the following: health, dental and prescription drug plans; vision care; deferred compensation plans; Public Employees' Retirement System (PERS); personal, sick and vacation days; tuition reimbursement and paid holidays.
Application deadline is 11:59 p.m., March 16, 2026. Applications submitted after this date may not be considered for the NJHMFA Honors Fellow Program. Please see program information for complete application process information.
NJHMFA employees must complete an Outside Activity Questionnaire (disclosure of outside office or employment) on an annual basis.
Partial Telework may be available and will be determined on a case-by-case basis.
BENEFITS
NJHMFA provides a comprehensive benefit package which includes:
Medical, prescription, dental, vision & long term disability
FSA & HSA
Public Service Loan Forgiveness and Tuition Reimbursement
Public Employees' Retirement System (PERS)
Deferred compensation plans
Employee assistance services (EAS)
State employee discounts program
Paid personal, sick and vacation days
Paid holidays
Partial Telework
Residency in the State of New Jersey is required of all employees with an agency of the State in accordance with the New Jersey First Act, N.J.S.A. 52:14-7 (L. 2011, Chapter 70). Employees must comply with the "New Jersey First Act" which requires employees hired after September 1, 2011 to reside in New Jersey. Non-New Jersey resident employees must relocate to New Jersey within one year of their date of hire and provide proof of residency to Human Resources.
The NJHMFA is an Equal Opportunity Employer in compliance with all Federal, State and Local Regulations. NJHMFA provides equal employment opportunity to both individuals with veteran status and individuals with disabilities.
Must complete an Outside Activity Questionnaire (disclosure of outside office or employment) on an annual basis.
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