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Underwriter - Affordable Housing Finance

Situs

Asset Class Agnostic

San Francsico, CA

Salary Estimate: Confidential

Employment Type: Full Time

Work Place: Office

Experience Required: 2+ to 5 years

Education Required: 4 Year College

Job Description

The professionals at Greenwich Street Community Capital (“GSCC”), a dedicated subsidiary of Situs Group, underwrite and close construction and permanent loans that are used to finance the new construction and preservation of affordable and workforce rental housing for Citi Community Capital (“CCC”), the community lending and investing arm of Citigroup. Employees of GSCC are fully integrated with Citi employees at Citi locations.

CCC works with for-profit and non-profit developers, as well as state and local government agencies on both straightforward and highly structured transactions. The projects we finance serve the homeless, seniors, those with disabilities, as well as low income families and individuals. They may also include workforce housing or market rate units and other commercial uses. We are among the largest Fannie Mae and Freddie Mac mortgage bankers in this sector in addition to being a balance sheet lender.

We work throughout the country from 13 offices and, according to Affordable Housing Finance Magazine, have been the #1 affordable housing lender in the United States in each of the past eight years. That success is due in large part to having the strongest, most innovative team of professionals in the country.

GSCC is currently recruiting for an experienced affordable housing real estate underwriter to join our West Coast team in San Francisco.

KEY RESPONSIBILITIES

Analyze financial feasibility of new transactions, including construction, acquisition and permanent loans.
Review due diligence and prepare credit memorandums and financial analysis spreadsheets which are presented to credit committee for approval.
Travel to markets throughout the U.S. to conduct site inspections, meet with internal and external clients and analyze real estate market dynamics.
Process deals through internal systems to ensure transactions are properly represented in the risk systems and satisfy regulatory requirements.
Manage communications among a diverse mix of internal and external participants including borrowers, equity investors, production, legal (internal and external) and loan approvers.
Work with Production, Transaction Management and Asset Management teams during the closing of a transaction.
Liaise between, but not limited to, Legal, Operations, Technology, Production and Credit Risk Management.
Review transactions for internal and external (local laws and regulatory) policies.

REQUIRED SKILLS

Candidate is required to have a BA/BS. Preferred candidates would have 3-5 years of real estate loan underwriting or equivalent experience.
Ability to analyze real estate projects for feasibility including developing and modeling construction budgets, operating pro formas, reviewing appraisals and other 3^rd party reports, analyzing market factors, completing sponsor analysis as well as identifying and mitigating transaction risks.
Excellent communication, organization, and interpersonal skills, as well as the ability to multi-task under tight deadlines.
High attention to detail and the desire to take ownership of a process to drive towards resolutions.
Strong motivation with the ability to work without supervision, keen judgement and a pay for performance attitude.
Possess the professionalism and composure to provide client focused business while also managing internal relationships.
Analytical and computer skills including the ability to quickly adopt new technology
Strong desire to learn about the nuances of affordable housing, bond and LIHTC transactions.
Ability to travel on short notice necessary.