Development Underwriter

State of South Carolina•Lexington County, SC

2d•Hybrid

About The Position

The SC Housing Finance and Development Authority (SC Housing) is actively searching for a Development Underwriter for our Development Finance Division. SC Housing is a forward-thinking organization that is committed to changing lives by creating safe, decent, and affordable housing opportunities. As a member of the Development Underwriting team, you will work under the supervision of the Development Underwriting Manager. You will operate within the federal and state guidelines that regulate SC Housing’s Multifamily Development programs and utilize discretion and good judgment when performing feasibility analyses, determining funding awards, and solving technical issues. SC Housing's Multifamily Development Division administers a diverse portfolio of housing development programs across the state of South Carolina to include Low Income Housing Tax Credit (LIHTC), HOME, SC Housing Trust Fund (SCHTF), National Housing Trust Fund (NHTF), Small Rental Development Program (SRDP), and Multi-Family Tax Exempt Bonds programs.

Requirements

An associate's degree in accounting, real estate, finance, economics, mathematics, or a related field of study and 4 years of full-time experience (to include internships) in accounting, auditing, finance, commercial loan underwriting, or a related field.
Candidates must specifically meet the Agency Minimum Requirements or an equivalent combination of education and experience to be considered for this position.
Strong financial analysis and underwriting skills, with the ability to assess complex rental housing developments
Excellent problem-solving abilities and sound judgment in adapting to different circumstances
Ability to manage multiple priorities and meet deadlines
Exceptional verbal and written communication skills
Proficiency in Microsoft Excel, including spreadsheet design and formula creation

Nice To Haves

Certifications in housing development finance or economic development finance are preferred.

Responsibilities

Review multifamily housing development proposals seeking financial assistance by analyzing development costs, sources and uses of funds, operating budgets, rent projections, and financing structures.
Evaluate compliance with program requirements and underwriting standards, calculate key financial metrics, and prepare written underwriting summaries and recommendations for internal review and approval.
Develop, update, and maintain Excel-based underwriting and financial analysis models used to evaluate multifamily rental housing proposals.
Design and test formulas, assumptions, and calculations to ensure accuracy, consistency, and alignment with underwriting policies and program requirements.
Assist in the development and revision of underwriting guidelines and policies used to evaluate multifamily rental housing applications.
Analyze regulatory requirements and program needs, draft technical guidance, and support consistent application of underwriting standards.
Must be able to lift and carry files, books, and reports weighing up to 20 lbs.
Must be able to perform filing, desk work, and operate general office equipment.
Must be able to sit or stand for prolonged or intermittent periods of time while sharing, gathering, or presenting information to other staff members or external parties.

Benefits

Telecommuting options
Accrued Paid Time Off (15 days annual/vacation leave per year and 15 days sick leave per year)
13 paid holidays
PEBA Health, dental, vision, long term disability, and life insurance for employees, spouses, and children
PEBA Perks
Free Telehealth Visits for State Health Plan members
Free Health Coaching for State Health Plan members
State Retirement Plan
Deferred Compensation Programs
401k and 457 plans
MoneyPlus ( tax-favored accounts program)
Employee Assistance Program
Employee Discount Programs (PerksCard, TicketsatWork, and WeSave)
Casual Fridays
Tuition Reimbursement Program (after 6 months of employment)