LIHTC Underwriter

Overview

This position supports affordable housing tax credit investing by underwriting Low-Income Housing Tax Credit (LIHTC) investments. The role requires extensive LIHTC knowledge 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 and 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 and supporting charts, graphs, and tables.
• Communicate and manage customer expectations through the underwriting process using a positive and proactive approach that supports repeat origination opportunities.
• Provide regular communication to the originator and director of underwriting on underwriting progress, including:
  • Process checklist review
  • Due diligence review
  • Transaction timing
  • Issue identification
  • Timely preparation and regular 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.

Qualifications

Core Technical Expertise

• 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 required, including advanced Excel modeling capabilities.
• Experience closing real estate transactions highly preferred.

Execution and Operational Performance

• Ability to manage multiple tasks effectively under significant time pressure and meet closing deadlines.
• Strong organizational skills, including the ability to coordinate complex activities, prioritize competing demands, and meet deadlines.
• Ability to maintain a big-picture perspective while attending closely to detail and producing thorough documentation.
• Demonstrated ability to work productively and accurately in a fast-paced environment while managing multiple projects and stringent deadlines.

Communication and Collaboration

• Strong writing and editing skills to produce correspondence and reports.
• Demonstrated verbal communication and interpersonal skills to represent the organization effectively to all parties.
• Proficiency in Microsoft Word required; PowerPoint proficiency a plus.

Professional Judgment and Work Style

• Highly motivated, with the ability to work independently, solve problems effectively, and communicate clearly in writing and verbally.
• Demonstrated professionalism, diplomacy, composure, flexibility, and adaptability in a variety of situations.
• Expected to demonstrate strong ethics in interpersonal relationships and work effectively as a collaborative team member.
• Ability to work evening and weekend hours during peak periods.

Compensation & Benefits

• Pay range: $120,000 – $130,000
• Benefits include:
  • Dental, health, and vision care plans
  • Family-building benefits such as adoption and surrogacy support
  • Flexible work arrangements to promote work-life balance
  • Health advocacy, an Employee Assistance Program (EAP), and mental health benefits
  • Financial education and wellness programs
  • Auto-enrollment in the 401(k) plan with employer matching contributions
  • Annual performance bonuses and generous paid leave programs
  • Learning and development opportunities, including tuition reimbursement for job-related courses and certifications

Location

Career opportunities are available in offices across the country.