Affordable Housing Tax Credit Underwriter
Affordable Housing Tax Credit Underwriter
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Salary Not Disclosed
1 Vacancy
Job Description
Overview
Advantage Capital is seeking an individual with affordable housing and/or lowincome housing tax credit (LIHTC) experience to join our growing LIHTC team as an underwriter. A successful candidate will have a foundational understanding in underwriting closing and risk management for LIHTC equity investments.
Key Responsibilities:
Financial Modeling: Prepare and evaluate the financial modeling for tax credit equity investments including preparation of benefit and capital account analysis scenario risk analysis capital sources and uses operating budget pro formas etc.
Due Diligence Management: Manage the due diligence process by gathering and reviewing transaction documents such as tax credit documents real estate documents market studies appraisals environmental reports project approvals and construction documents.
Document Review: Review lowertier partnership agreements construction and permanent loan documents providing relevant comments for each transaction.
Development Team Evaluation: Assess the background and experience of each development team member including sponsors/developers general contractors property managers and support service agencies. Conduct reference checks and background investigations.
Guarantor Analysis: Perform analyses of guarantors to support underwriting assumptions and viability of transaction participants.
Transaction Summaries: Draft and present recommendations summarizing the underwriting of each deal including; deal structure development budget analysis of proforma operations guarantor/sponsor analysis compliance risks and mitigants and recommendations.
Letters of Intent: Prepare Letters of Intent as needed.
Closing Coordination: Coordinate all aspects of the initial closing internal review and approval and thirdparty review processes.
Syndication: Work closely with the capital markets team to identify and mitigate investor concerns. Respond to developer/investor inquiries and due diligence questions.
Travel: Conduct site visits and attend relevant industry events as requested.
Special Projects: Assist with special projects or other priorities as requested.
Policy Compliance: Develop a strong working knowledge of and comply with internal company policies.
Independent Work: Capable of working under limited supervision or independently
Skills and Requirements:
Bachelors degree in Business Accounting Finance Urban Planning/Real Estate or related field.
35 years of experience in real estate finance affordable housing and/or LIHTC.
Knowledge of the federal LIHTC program and partnership structures.
Familiarity with current industry underwriting policies and standards.
Strong analytical and research skills.
Ability to prioritize and manage multiple projects to meet deadlines.
Proficiency with standard business software including the ability to understand and maintain financial models in Microsoft Excel.
Strong written and verbal communication skills.
Ability to maintain a bigpicture focus while handling detailed work.
Team player that maintains a positive attitude strong work ethic and selfmotivation.
Preferred Qualifications:
5 years of experience in underwriting originating or affordable housing loans/equity investments.
Experience in closing real estate transactions.
#LIONSITE
#LIHYBRID
Employment Type
Full Time
