Affordable Housing Underwriter

Harmony Housing Affordable Development Inc. (“HHAD”) is among the largest real estate developers of affordable rental housing in the United States. Every community we develop reflects the quality, dignity, and excellence we would demand for our own families. Driven by this commitment, our mission is to improve lives through exceptional affordable housing. HHAD is a wholly owned subsidiary of Harmony Housing, a 501c3 not-for-profit owner and operator of affordable housing.

Our fast-growing organization is currently seeking a detail-oriented and experienced Underwriter to join the expanding Finance team and be an integral part of the growth of HHAD’s affordable housing development business. The ideal candidate will be responsible for managing the financial aspects of affordable housing projects, ensuring compliance with regulatory requirements, and providing accurate financial reporting to stakeholders. This position works in close coordination with HHAD’s Accounting, Business Development, Construction, Development, and Executive teams and is based in our Raleigh, North Carolina office, reporting to the Director of Finance.

The Underwriter will perform financial analyses of development opportunities and regularly interface with external development partners, as well as lenders, syndicators, equity investors, and various government agencies. This position requires a great deal of autonomy and accountability, along with strong experience in financial analysis, low-income housing tax credits, critical thinking and problem solving, negotiating, networking, and teamwork.

• Project Finance:
  Support the execution of the multi-family affordable development platform by leading efforts related to underwriting, financing, and closing projects
• Collaborate with a cross functional Project Team (Finance, Development, and Construction) to successfully execute on multiple development projects at a time
• Facilitate the collection, organization, review, and analysis of financial due diligence materials
• Prepare, update, and maintain detailed project-level and portfolio-level financial models using Excel macros and various data analysis techniques
• Prepare financial analyses and supporting materials for presentations to senior leadership, Investment Committee, external development partners, and other stakeholders
• Provide regular status reports on projects to senior leadership
• Monitor and drive project schedules to ensure financial milestones are achieved as scheduled
• Track pre-development costs and cash needs for assigned projects
• Lead efforts to raise debt and equity by preparing investment packages, soliciting proposals from potential lenders and investors, responding to questions, and negotiating terms
• Identify potential sources of soft funding and be able to update financial models with the unique associated financing terms
• Work closely with the Development Team to prepare applications for tax credits, tax-exempt bonds, and other sources of funds
• Assist in monitoring project budgets, ensure development sources and uses remain balanced, and provide insights into cost management and financial performance
• Participate in project meetings and contribute to financial decision-making processes
• Prepare closing draws and facilitate project financial closing and funding requests; review closing statements for accuracy

• Ensure continuous adherence to local, state, and federal regulations (including state QAPs) related to affordable housing financing and reporting
• Review project partnership and financial documents and ensure funding terms and conditions are consistently maintained

• Effectively and timely communicate with bank representatives, lenders,…