Senior Underwriter

Job Description

National Church Residences

Title:

Senior Underwriter

Corporate:
Acquisitions & Development

Status:
Exempt

Reports to:

Director of Finance - Development

Revision date: 09/2025

Supervises: N/A

According to prescribed policies and procedures of the organization including all applicable federal, state, and local regulations and under the general supervision of the Director of Development Finance, this role will support real estate development initiatives by providing comprehensive financial analysis and underwriting expertise for Low Income Housing Tax Credit (LIHTC) projects. This role plays a key part in evaluating the financial feasibility of LIHTC developments from initial deal origination through financial closing.

By preparing detailed financial models, conducting due diligence, and collaborating with internal and external stakeholders, the underwriter ensures that each project aligns with regulatory requirements and organizational goals.

Key responsibilities include:

• Overseeing all financial components of loan closings, including those related to construction and refinancing.
• Leading the underwriting process for National Church Residences and producing comprehensive financial reports, including construction period analysis and projections.
• Collaborating closely with HUD, lenders, auditors, and external stakeholders to ensure effective and timely communication throughout the development process.
• Conducting in-depth financial analysis and reporting to inform and support strategic real estate development efforts.

• Develop, maintain, and update complex financial models for LIHTC projects, including 4% and 9% tax credit structures and project refinances.
• Conduct scenario and sensitivity analyses (e.g., interest rate fluctuations, rent changes, vacancy rates) to assess project risk and viability.
• Perform comparative debt analyses across various financing products (FHA, Fannie Mae, Freddie Mac, conventional loans, etc.).

• Ensure accuracy and integrity of acquisition and tax credit financial models, including alignment with underwriting standards and project budgets.
• Support Project Leaders by providing timely updates and insights on financial projections and assumptions.

• Assist the Director of Closings in preparing for and executing final loan closings.
• Underwrite, coordinate, and submit comprehensive loan conversion packages to lenders and regulatory agencies.

• Analyze partnership agreements and investor letters to understand equity installment schedules, conditions, and triggers.
• Develop and maintain equity draw schedules aligned with project milestones, construction timelines, and investor requirements.
• Ensure all conditions precedent to equity installments (e.g., construction progress, cost certifications, lease-up benchmarks) are met and documented.
• Compile and submit equity draw packages to investors, including required financial reports, certifications, and third‑party documentation.
• Serve as the point of contact for equity partners regarding funding status, documentation needs, and project updates.

• Serve as a point of contact with internal teams (asset management, construction accounting) and external stakeholders (investors, lenders, state agencies).
• Respond to financial information requests from construction accounting staff and external parties.

• Prepare and present detailed financial reports, including construction period analyses and investor‑related documentation requests.
• Maintain organized records of underwriting assumptions, model versions, and supporting documentation.

• Build and maintain effective working relationships with internal departments and external partners.
• Demonstrate strong communication and interpersonal skills to facilitate collaboration and resolve issues.

• Demonstrates and maintains a positive, professional manner, manages time efficiently and effectively, provides leadership as a role model to promote a team approach, and participates in appropriate…