JOB SUMMARY

The position supports the underwriting process for permanent financing of mortgage and tax- exempt bonds secured by multifamily affordable housing developments within the State of California. Specific tasks include site inspections, appraisal review, pro-forma analysis, analysis of sponsor’s financial statements, and assisting with the preparation of loan underwriting credit packages. The position will also assist in analyzing existing commitments in the process of converting and funding to verify accuracy of underwriting at commitment. Interface extensively with team members and some sponsor/borrowers as analysis is performed.

PRINCIPAL RESPONSIBILITIES

1.      Assist in the underwriting of permanent debt on affordable multi family rental projects utilizing 9% tax credits and 4% credits in tax exempt bond transactions within California. Analyzes project pro-forma sources/uses, appraisal, market studies, environmental reports, sponsor financial statements, and other due diligence. 

2.      Performs conversion analysis upon project completion. Analyzes actual property performance and compares to budget. 

3.      Provides analysis for evaluation of new origination opportunities. 

4.      Review loan documentation and assist Loan Administration with closing transactions. 

5.      Participates in and represents CCRC at industry related functions, conferences and professional organizations. 

6.      Performs special projects and other related duties related to the CCRC loan portfolio. 

7.      Maintains a current knowledge of state and federal regulations as they apply to loan policy, procedure and lending practices Maintain high ethical standards and sound lending practices.

JOB SPECIFICATIONS

1.      Good working knowledge of multi-family real estate lending and underwriting. Some experience in development, related finance, or commensurate level of post-graduate education in related fields of study. 

2.      Knowledge of real estate documentation. Affordable housing experience a plus but not required. 

3.      Strong oral and written communication skills.

 4.      Strong analytical skills with financial statement analysis with skill in Excel as well as ability to read and comprehend complex multi-family project appraisals.