Regions Affordable Housing Underwriter (LIHTC)

Regions Bank•Birmingham, AL

6d•$61,772

About The Position

At Regions, the RAH (Regions Affordable Housing) Affordable Housing Underwriter serves as part of the first line of defense, evaluating and underwriting development partners and guarantors associated with housing tax credit investments to ensure each supports Regions’ objectives and meets or exceeds net worth and liquidity guidelines. Through timely and thorough underwriting, this role supports Regions strategy to maintain and expand investor relationships. This position identifies and mitigates risk in existing and proposed transactions. This position will also work directly with teammates in Credit Risk, Client Coverage, Capital Markets, and other areas of the bank to support the broader analysis of credit opportunities, underwriting of credit exposure, and management of a portfolio of loans and other credit relationships while providing effective challenge to these various constituents. This individual will evaluate and underwrite low-income housing tax credit (LIHTC) investments and construction/bridge loans to ensure each supports RAH’s objectives and meets or exceeds investment guidelines.

Requirements

Bachelor’s degree in related field
Prior experience with analyzing complex financial statements for corporate entities, real estate operators, developers, and guarantors
Completion of a major corporate credit training program or equivalent corporate banking/finance experience
Ability to research, analyze data, and derive facts
Ability to work in a team environment when applicable
Ability to work under pressure and meet deadlines
Proficiency in Microsoft Office (Excel, Word, PowerPoint, Outlook, etc.)
Strong verbal, written communication, and organizational skills
Strong work ethic and self-motivation

Nice To Haves

Knowledge of Affordable Housing or Low-Income Housing Tax Credit (LIHTC)

Responsibilities

Works in support of the RAH team and adds value directly to client and coverage in articulating Regions’ underwriting requirements for developers and guarantors of housing tax credit properties, including the analysis of complex guarantor and business structures as well as the collection and analysis of background checks
Creates and maintains guarantor analyses, including ongoing conformance to annual guarantor financial condition requirements.
Manages the guarantor requirement checklist, gathers all required documents, reviews the documents, and notes any issues as appropriate; Understands the background and experience of each development team member including sponsor/developer, general contractor, architect, property manager, project accountant, and support service agency (if applicable) as well as reviews references and conducts background checks.
Proactively identifies potential guarantor issues and alerts the RAH team
Prepares comprehensive summaries of the information gathered and analyzed as part of the investment/loan approval process; is available to respond to specific inquiries of approvers.
Oversees ongoing monitoring of existing portfolio by being accountable for periodic assessments and other servicing requirements
Offers advice and guidance about underwriting specific aspects of the development team and the guarantor analysis to others on the RAH transaction team
Articulates issues associated with financial statements and to assess whether RAH financial and background requirements are met