MULTIFAMILY CREDIT UNDERWRITER

OSP LP•Tampa, FL

3d•Onsite

About The Position

Under the supervision of the Multifamily Credit Underwriting Manager and senior associates, this role involves underwriting affordable multifamily transactions that utilize various forms of construction and permanent financing. These can include Section 42 Low Income Housing Tax Credit (LIHTC) equity, tax-exempt multifamily mortgage revenue bonds, various state and federal loans/grants, and/or other conventional financing.

Requirements

A Bachelor’s Degree from a college or university with a major in Business, Accounting or Finance and 5+ years of related experience.
Ability to communicate clearly and concisely in a professional environment, both in writing and verbally, to senior management, clients, boards, and committees.
Must be able to work independently and within a team.
Working knowledge of Section 42 Low Income Housing Tax Credit (LIHTC) program.
Working knowledge of affordable development financing structures, including conventional financing provided by Fannie Mae, Freddie Mac, or HUD, tax exempt multifamily mortgage revenue bonds, private placement bonds, and other federal and state loan programs.
Proficient with financial modeling in Excel and creating and amending documents in Word.
Ability to manage multiple assignments simultaneously.
Must be able to produce at a high level and meet strict deadlines in a fast-paced demanding environment.

Responsibilities

Prepare and analyze financial models detailing development budgets and operating proformas for multifamily transactions subject to various rental restrictions.
Collect, review and organize due diligence required to evaluate transaction feasibility, including entity organizational documents, financing documents, financial statements, and construction documents.
Review, interpret, and apply rules and guidelines governing the allocation of LIHTCs, tax exempt multifamily mortgage revenue bonds, and various construction and permanent debt products.
Engage, review, and analyze third party reports including appraisals, market studies, plan and cost reviews, physical needs assessments, and phase I environmental site assessments.
Evaluate the feasibility of proposed affordable multifamily transactions and either support or decline advancement to closing and funding.
Prepare detailed underwriting reports supporting a recommendation for a LIHTC allocation, tax-exempt multifamily mortgage revenue bond allocation, and/or other debt products.
Present underwriting reports to committees and boards and answer questions related to the analysis, risks, recommendations and conclusions.
Perform other duties as assigned.