LIHTC Underwriter Associate
LIHTC Underwriter Associate
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Not Disclosed
Salary Not Disclosed
1 Vacancy
Job Description
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 doesnt 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
- Bachelors 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
Required Experience:
IC
Employment Type
Full Time
