LIHTC Underwriter Associate - United States - Advantage Capital

    Advantage Capital
    Advantage Capital United States

    5 hours ago

    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 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

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