Multi-Family Affordable Housing Underwriter

Background

Capital for Change (C4C) is a full-service Community Development Financial Institution (CDFI) in Connecticut offering capital solutions that create and sustain lasting positive change for low-income communities, broaden social and economic participation, and encourage economic growth and environmental sustainability. We champion projects of all kinds with an approach that one size does not fit all, enabling us to create high impact products and programs that create affordable housing, increase energy efficiency, finance mixed-use development, and assist nonprofit organizations. With more than fifty years of experience, C4C has invested over $425 million of mission-driven capital into Connecticut’s most vulnerable communities.

We believe that our workforce is at its best when given the tools, training, and motivation to operate in the most efficient and effective manner. By promoting diversity and recruiting qualified applicants, we ensure that our team is well-equipped to contribute to the success of our business. We also strive to provide a competitive salary and benefits package, as well as training and development opportunities for career enhancement.

Summary

Reporting to the Director of Commercial Lending & Impact, the Multi-Family Affordable Housing Underwriter (the “Underwriter”) position has a lending focus with some administrative responsibilities.  The Underwriter has primary responsibility for monitoring the credit quality of new loans and, along with the Portfolio Manager, of the overall loan portfolio. The Underwriter assists the Director in maintaining and implementing a lending strategy, policies, procedures and products to achieve Capital for Change’s mission. The Underwriter’s main responsibility will be to underwrite loans, with a priority and emphasis on multi-family housing projects that include subsidy funds and those with a community development focus.   The Underwriter also assists with oversight of C4C’s housing subsidy programs.

Responsibilities

• Primary review of credit quality of loan production and underwriting for multifamily housing and multifamily energy loans.
• Screen and underwrite financing requests, including collection and analysis of application materials
• Assist with commercial loan documentation.
• Prepare Loan Approval Documents in collaboration with Loan Officers
• Work with Loan Administrator to manage closing process with legal counsel.
• Participate in management of construction loan advances for applicable loans.
• Work with Portfolio Manager to oversee the credit quality of the Commercial Loan Portfolio
• Provide technical assistance as needed to C4C borrowers.
• As needed respond to phone calls, provide basic information for loan inquiries, and direct callers to appropriate parties within the organization.

Requirements

• At least three years of experience in loan underwriting with a CDFI, bank, or other financial institution related to multifamily affordable housing development and real estate construction.
• Knowledge of and experience with public and private sector funding sources for affordable housing and community development.
• Proficiency in Microsoft Office Suite, Salesforce, and loan servicing software.
• Deep commitment to diversity, equity, and inclusion and ability to welcome and empower all.
• Strong verbal and written communication skills.
• Excellent organizational, multi-tasking,  analytical and problem-solving skills.
• Keen attention to detail and accuracy.
• Demonstrated capacity to work as part of a team
• Ability to learn multifamily underwriting systems and tools that are specific to Capital 4 Change
• Bachelor’s degree in a related field

Compensation and Benefits

Capital for Change offers a strong compensation and benefits package.

Salary: $80,000+

Benefits Offered: Medical, Health Reimbursement Account and Health Savings Account contribution, Flexible Spending Accounts (medical and dependent care), Dental, Vision, Life Insurance, Accidental Death & Dismemberment, Short and Long-Term Disability, Employee Assistance Plan,  403(b) Plan including employer contribution.

How to Apply

To Apply please go to the Careers page on the Capital for Change website.  https://www.capitalforchange.org/job-portal