Underwriter Northeast
Underwriter Northeast
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$ 90000 - 110000
1 Vacancy
Job Description
THE COMPANY
The Low Income Investment Fund is a nonprofit Community Development Financial Institution (CDFI) that mobilizes capital and partners to achieve opportunity equity and wellbeing for people and communities. LIIF innovates financial solutions to create more equitable outcomes for all by building and preserving affordable homes quality educational opportunities from early childhood through higher education health clinics healthy food retail and community facilities. In this way LIIF provides a bridge between private capital markets and communities. LIIFs headquarters is in San Francisco and has offices in Los Angeles New York Atlanta and Washington D.C.
REPORTING RELATIONSHIPS:
This position reports to the Director Northeast Region while collaborating with the Northeast and MidAtlantic Market Director Loan Officers Asset Managers and the SVP Chief Credit Officer.
JOB SUMMARY:
The Underwriter is responsible for conducting due diligence and underwriting loans that support the development of affordable housing and community facilities. Working closely with regional loan originators the Underwriter ensures the creditworthiness of new loans and supports loan approvals. This role involves financial analysis risk assessment and documentation review to facilitate successful transactions.
KEY RESPONSIBILITIES:
- Due Diligence: Manage collection of loan application materials and commission thirdparty due diligence reports (e.g. appraisals plan and cost reviews).
- Site Visits: Conduct site visits for underwriting transactions and attend prospect/customer calls.
- Underwriting: Analyze financial statements repayment sources market conditions regulatory factors appraisals entitlement/land use assessments environmental reports plan and cost reviews and property conditions to assess credit risk. Compare credits to company standards and identify exceptions.
- Credit Approval: In consultation with the loan originator prepare loan approval requests including financial exhibits and present them for final approval to the Market Director and SVP Chief Credit Officer.
- Customer Service: Maintain professional relationships with clients lenders attorneys and other external parties responding to inquiries in a timely and accurate manner.
- Pipeline Management: Assist in reporting and managing the regional lending pipeline and maintaining transaction databases.
QUALIFICATIONS:
- Bachelors degree in real estate urban planning business administration finance or a related field.
- Minimum of 3 years of experience in real estate or business lending including credit analysis and loan documentation.
- Proficiency in analyzing financial statements of individuals forprofit businesses and nonprofit organizations.
- Knowledge of affordable housing funding sources at federal state and local levels.
- Familiarity with private financial institutions and public agency processes.
- Understanding of real estate development including permitting and construction.
- Proficiency in Microsoft Office Suite and database management.
- Strong ability to manage multiple tasks with attention to detail.
- Strong selfmotivation teamwork and time management skills.
- Willingness to travel as required for site visits and meetings.
ADDITIONAL INFORMATION:
LIIF offers a hybrid work environment with flexibility to balance inoffice and remote work. However all employees are expected to work onsite at least two 2 days per week. The successful candidate may be expected to travel occasionally for meetings or other Company sponsored events.
All Low Income Investment Fund (LIIF) employees must be fully vaccinated against COVID19. In accordance with LIIFs policies we provide reasonable accommodations absent undue hardship to qualified individuals who cannot get vaccinated against COVID19 because of sincerely held religious or medical reasons. If you believe you need an accommodation from the vaccination mandate required by this policy please notify our Human Resources Department.
HOW TO APPLY:
Please apply with Resume and Cover Letter via our recruitment portal:Recruitment (adp) or via email:
Notice to Third Party Recruitment Agencies:
Please note that Low Income Investment Fund does not accept unsolicited resumes from recruiters or employment agencies. In the absence of an executed Recruitment Services Agreement there will be no obligation to any referral compensation or recruiter fee.
In the event a recruiter or agency submits a resume or candidate without an agreement Low Income Investment Fund shall explicitly reserve the right to pursue and hire those candidate(s) without any financial obligation to the recruiter or agency. Any unsolicited resumes including those submitted to hiring managers shall be deemed the property of Low Income Investment Fund.
We do not accept unsolicited phone calls. Only candidates being considered for a position will be contacted.
LIIF an EOE (Equal Opportunity Employer) believes that diversity ensures excellence. All qualified applicants will receive consideration for employment without regard to race color religion sexual orientation gender or national origin. Candidates of diverse backgrounds and with diverse experience are strongly encouraged to apply for this position.
Employment Type
Full-Time
