Overview

Description: The Multifamily Lending and Neighborhood Investments division finances multifamily housing through the issuance of tax-exempt bonds, taxable bonds, and 4% low-income housing tax credits. The division also manages predevelopment loans through its McKinney Act Program. The Multifamily Loan Underwriter contributes to the success of the financing program through robust analytical assessment of the sponsor, project and market feasibility of each transaction. This position requires an experienced, analytical, disciplined and creative candidate that can move at the speed of the transaction. Requirements: ESSENTIAL DUTIES & RESPONSIBILITIES:Manage relationship with developers, lenders, banks, equity providers, public funding agencies and other stakeholders involved in the creation and preservation of affordable housing in the District of ColumbiaResponsible for the intake of detailed loan applications and supporting documentation required for the underwriting and assessment of affordable housing development and rehabilitation projects financing.Work with development teams to determine optimal deal structure for transactions.Conduct underwriting necessary to render decisions for taxable or tax-exempt bond and Low-Income housing Tax Credit financing on projects submitted to the agency for fundingProcure third party due diligence reports and negotiate contracts for appraisals, environmental site assessments (ESA), architectural cost reviews, physical needs assessments, and market studies Review and approve third party due diligence reports. Ensure that recommendations are implemented in the project development planEffectively present analysis and approval recommendations to senior management team and the agency's Board of DirectorsNegotiate final terms and conditions of project financingCoordinate the closing process by working with the developer, bond investor, LIHTC syndicator, legal counsel, and other funding sources such as public agencies and subsidy providersProvide input to the draw process in partnership with the Agency's construction monitoring team during construction in order to ensure that projects are being constructed as per the underwritingCoordinate with the Agency's Department of Portfolio and Asset Management to gather market data and reconcile all regulatory requirements during the underwriting process, provide feedback while transactions remain in the portfolio and to resolve issues on troubled assets.Review and approve third party due diligence reports. Ensure that recommendations are implemented in the project development plan.Assist in the design and development of new multifamily loan programs, special non-lending programs (i.e. supportive services, counseling, technical assistance, etc.) using federal, District of Columbia, DC Housing Finance Agency, or other fund resources. Remain current on external factors that may affect established lending policies, such as new or revised legislation and regulationsProvide complete customer service through relationship managementPerform other duties as required KNOWLEDGE AND QUALIFICATIONS:Bachelor's Degree in Real Estate, Finance, Business, or another related field from an accredited university or equivalent experience is requiredMasters in Real Estate Development (MRED) or a Master's in Business Administration (MBA) a plus 3-5 years of experience in Real Estate, Planning, Development, and Finance3+ (three) years of experience in multifamily construction and permanent loan underwritingThorough knowledge of underwriting policies and proceduresKnowledge of housing and affordable housing related market forces including; general real estate principles, supply and demand economics and other multifamily demand drivers.Understanding of federal, state, municipal code, regulations; contract law; business entity structure and real estate law; and construction principles particularly as they relate to tax exempt bond and Low-Income Housing Tax Credit financing.Must posses