LIHTC Underwriter Associate

LIHTC Associate must have experience underwriting, closing, and managing risk associated with Low Income Housing Tax Credit (LIHTC) equity investments and/or debt products.

Essential Job Functions

• Underwrite real estate/LIHTC financial modeling to facilitate Credit approval.
• Properly identify key risks and mitigants for new construction and acquisition/rehab properties utilizing the LIHTC program
• Working knowledge of nuances of state and federal LIHTC programs
• Strong understanding of operating agreements and limited partnership agreements.
• Drive the closing process with the client, utilizing closing checklists to identify and monitor progress of items required to close and responsible parties.
• Identify items and conditions to be satisfied for closing and reviewing due diligence for the transaction.
• Display high level proficiency in reviewing documentation to ensure accurate representation of business terms and conformity to approvals.
• Consistently provide superior service to clients while maintaining risk management procedures and controls.
• Clearly and immediately communicate problems/issues and elevate appropriately.
• Provide accountability for clear and timely communication of deal progress to internal and external stakeholders.

Competencies/Skills

• Customer Focus:
  Is dedicated to meeting the expectations and requirements of internal and external customers.
• Detail Oriented:
  Analyzes and interprets information; ensures quality and content of all aspects of a transaction; is able to manage a variety of tasks accurately.
• Integrity, Trust & Respect:
  Is widely trusted; is seen as a direct, truthful individual who respects others and is respected; can present the unvarnished truth in an appropriate and helpful manner; keeps confidences; openly acknowledges his/her own mistakes; does not misrepresent himself/herself for personal gain.
• Problem Solving:
  Uses rigorous logic and methods to solve difficult problems with effective solutions; probes all fruitful sources for answers; can see hidden problems; is excellent at honest analysis; looks beyond the obvious and doesn’t stop at the first answers.
• Time Management:
  Uses time effectively and efficiently; values time; concentrates efforts on the most important priorities; is organized and gets more done in less time than others; can attend to a broader range of activities.
• Written Communications:
  Is able to write clearly and succinctly in a variety of communication settings and styles; can get messages across that have the desired effect.

Requirements

• Bachelor’s Degree in Business Administration, Finance, Urban Planning/Real Estate, or Engineering or sufficient experience
• Strong knowledge of federal and state LIHTC programs
• Strong knowledge of government programs for affordable housing and community reinvestment; experience with not-for-profit real estate development and sensitivity to local community needs
• Minimum 3 years of experience in Low Income Housing Tax Credit and Community Lending industry with underwriting and/or risk management experience
• Strong communication skills both written and verbal
• Attention to detail
• Advanced proficiency in MS Office suite (Excel, Word, PowerPoint), and Salesforce

Preferred Qualifications

• 5+ years' experience underwriting, originating, or closing community development loans and/or equity investments