Senior Underwriter

Senior Underwriter

Purpose : According to the prescribed policies and procedures of the organization including all applicable federal, state and local regulations and under the general supervision of the Senior Director of Affordable Housing Development, this position will assume responsibility for financial analysis, modeling of development opportunities, loan closings and loan conversions, ad hoc reporting including construction period reporting and FHA loan draws, 8609 packages, and interface directly with HUD, lenders, equity providers, auditors and other 3rd parties on Development matters.

Essential Functions :

• Generate and manage financial models for the development team including, without limitation, 4% and 9% tax credit models.
• Continuously communicate with (and support) Project Leaders and financial partners to update same.
• Perform and analyze stress tests on above models (ex - evaluate impact of rising interest rates, falling rents, increased vacancies, etc.)
• Responsible for quality control of tax credit financial models (ie, manage models regarding underwriting integrity and project budgets)
• Responsible for tracking and updating all organizational guarantees, in conjunction with the Controller.
• Responsible for the coordination and submission of all 8609 packages to applicable State Agencies in partnership with the Development Department Accounting Manager and other team members.
• Assist the Director of Closings with final loan closings and underwrite, coordinate and submit all loan conversion packages.
• Support the Accounting Manager and construction accounting staff on various investor, lender, and state agency requests.
• Interface directly with outside parties on development finance matters.
• Performs other duties as assigned, including ad hoc and construction period reporting.
• Assumes responsibility for related duties as required or assigned.
• Manages relationships, both internally and externally exercising appropriate communication and interpersonal skills.
• Completes assigned training.

Expectations :

Job Specification Sheet :