LIHTC Underwriter

Overview

The organization is seeking an experienced professional with affordable housing and/or LIHTC experience to underwrite Low-Income Housing Tax Credit (LIHTC) investments. The role requires extensive knowledge of LIHTC and strong financial analysis skills.

Responsibilities

• Underwrite tax credit investments as assigned, including:
  • Sponsorship analysis
  • Market analysis
  • Sources and uses and capital structure analysis
  • Income and expense underwriting
  • Tax credit documentation analysis
• For each transaction, obtain due diligence materials from the client, conduct site visits as needed, and review:
  • Project loan documents
  • The LP agreement for material business terms
• Participate with the originator in conference calls with customers.
• Prepare and present requests for investment committee approval and investor review, including narrative descriptions, charts, graphs, and tables that illustrate key aspects of the proposed investment.
• Under the direction of the originator and director of underwriting:
  • Communicate and manage customer expectations through the underwriting process using a positive, proactive approach that supports repeat origination opportunities
  • Provide regular communication to the originator and director of underwriting on deal underwriting progress, including process checklist review, due diligence review, transaction timing, issue identification, and timely updates to the Transaction Summary format as required
• Assist with and attend deal closings or other customer service coverage enhancement opportunities (if requested) and help complete and organize closed deal files for transition to Asset Management.
• Assist with other syndication priorities as requested (e.g., asset management, investor relations, and assistance to other lines of business).
• Participate in and contribute to group meetings and discussions.
• Perform other duties as assigned.

Requirements

• Bachelor’s degree in Business, Accounting, Finance, or a related field required; master’s degree preferred.
• 3–5+ years of experience in real estate finance, affordable housing, and/or the Low-Income Housing Tax Credit (LIHTC) program, including familiarity with apartment market dynamics in both urban and suburban areas and relevant industry policies, issues, and programs.
• Extensive knowledge of LIHTC required.
• Strong financial analysis skills, including advanced Excel modeling capabilities.
• Familiarity with underwriting tasks including sponsorship analysis, market analysis, sources and uses and capital structure analysis, income and expense underwriting, and tax credit documentation analysis.
• Ability to manage multiple tasks under significant time pressure and meet closing deadlines.
• Strong organizational skills to coordinate complex activities, prioritize competing demands, and meet deadlines.
• Ability to maintain a big-picture perspective while producing thorough, detail-oriented documentation.
• Demonstrated ability to work productively and accurately in a fast-paced environment while managing multiple projects and stringent deadlines.
• Strong writing and editing skills to produce correspondence and reports.
• Demonstrated verbal communication and interpersonal skills to represent the organization with all parties.
• Proficiency in Microsoft Word required; PowerPoint proficiency a plus.
• Highly motivated; able to work independently, solve problems effectively, and communicate clearly in writing and verbally.
• Demonstrated professionalism, diplomacy, composure, flexibility, and adaptability.
• Expected to demonstrate strong ethics in interpersonal relationships and to work effectively as a collaborative team member.
• Ability to work evening and weekend hours during peak periods.

Preferred Qualifications

• Experience closing real estate transactions.

Compensation & Benefits

• Pay range: $120,000 – $130,000
• This salary range represents the low and high end of what may be paid for this position. It is not typical for an individual to be hired at or near the top of the pay range. Compensation decisions may be influenced by factors including skills, qualifications, experience, and location.
• Annual performance bonuses.
• Paid leave programs.
• Dental, health, and vision care plans.
• Family-building benefits including adoption and surrogacy support.
• Flexible work arrangements to promote work-life balance.
• Health advocacy.
• Employee Assistance Program (EAP) and mental health benefits.
• Financial education and wellness programs.
• Auto-enrollment in the 401(k) plan with employer matching contributions.
• Learning and development opportunities, including tuition reimbursement for job-related courses and certifications.

Location

• Offices across the country (exact work location not specified).