LIHTC Underwriter, Asset Management
Location: Remote Location
Time Type: Full time
Requisition ID: REQ3875
Enterprise is a national nonprofit that exists to make a good home possible for the millions of families without one. We support community development organizations on the ground, aggregate and invest capital for impact, advance housing policy at every level of government, and build and manage communities ourselves. Since 1982, we have invested $92.0 billion and created 1.1 million homes across all 50 states, the District of Columbia, Puerto Rico and the U.S. Virgin Islands – all to make home and community places of pride, power and belonging.
Join us at enterprisecommunity.org
Working at Enterprise
At Enterprise, you’ll be part of a diverse, committed team making a difference every day. You will collaborate with some of the smartest minds and biggest hearts in our field. You’ll be empowered to drive systems change and take bold steps to advance racial equity. And you will find a career home where you’re valued and supported in your growth journey.
Enterprise offers career opportunities in our offices across the country with an exceptional benefits package.
Job Description Summary
This role is responsible for managing LIHTC investments after closing through stabilization and conversion, serving as the primary point of contact for project sponsors while monitoring construction progress, lease-up, risks, funding conditions, and project performance. The position also underwrites post-closing transaction changes, conducts financial and risk analysis, coordinates investor approvals, and works closely with asset management, acquisitions, credit, investor relations, and development teams.
Candidates should have 3–5+ years of LIHTC and affordable housing experience, strong real estate finance and underwriting skills, advanced Excel modeling capabilities, and the ability to manage multiple transactions, deadlines, and stakeholder relationships in a fast-paced environment. The role combines project management, asset management, underwriting, customer relationship management, and transaction oversight.
Job Description
Responsibilities:
Post-closing to Stabilization/Conversion Project Management for assigned projects with multi-investor funds.
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Prior to fund admission, gain basic familiarity with projects within assigned funds, preparing for atypical project needs post-closing.
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Monitor DRM assessment of construction risk, understanding delays, cost overages, and material deviations from the closing expectation.
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Monitor DEM assessment of payment timing and collection of A1 conditions/deliverables with specific attention to key items such as lease-up and tenant file review, cost certification concerns, adjusters, and meeting the Stabilization Test.
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Evaluate effect of delays, changes, costs, and/or material changes on the overall risk profile of the project, making recommendations and coordinating among pre-stabilized teams.
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Serve as a consistent point of contact for project sponsors as the project transitions from closing, through construction, lease-up, payments, and conversion. Support and remain informed about pre-stabilized teams’ communications, coordinating and elevating as needed to ensure responsiveness.
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Serve as the Lead for all Post-Closing Events on assigned projects.
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For certain high-risk projects, prepare and present Property Overviews for quarterly project performance reviews.
Underwrite post-closing changes to tax credit investments as assigned, including completion of the following underwriting tasks:
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Sponsorship analysis.
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Market analysis.
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Sources and uses and capital structure analysis.
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Income and expense underwriting.
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Tax credit documentation analysis.
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Obtain due diligence materials from clients.
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Review project loan documents and LP agreements for material business terms.
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Participate in conference calls with customers.
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Prepare and present requests for investors and internal approvals, including narrative descriptions, charts, graphs, and tables illustrating pertinent aspects of proposed investments.
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Communicate and manage customer expectations throughout the analysis process using a positive and proactive approach.
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Provide regular communication regarding post-closing changes, due diligence review, transaction timing, and issue identification.
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Assist with and attend deal closings.
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Complete, organize, upload, and maintain files for Asset Management access and record retention.
Remain current with closing underwriting guidelines and practices.
Assist with other Asset Management priorities as requested (e.g., Acquisitions, Credit, Investor Relations, and other lines of business).
Participate in and contribute to group meetings and discussions.
Perform other duties as assigned.
Qualifications:
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Bachelor’s degree in Business, Accounting, Finance, or related field required; Master’s degree preferred.
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3–5+ years of experience in real estate finance, affordable housing, and/or LIHTC programs.
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Knowledge of apartment market dynamics in both urban and suburban areas.
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Familiarity with industry policies, issues, and programs.
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Extensive knowledge of LIHTC.
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Experience closing real estate transactions.
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Strong financial analysis skills.
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Ability to manage multiple tasks effectively under significant time pressure and meet closing deadlines.
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Extensive Excel modeling skills required.
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Proficiency in Microsoft Word and PowerPoint preferred.
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Strong writing and editing skills.
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Prior management experience.
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Strong verbal communication and interpersonal skills.
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Professionalism, diplomacy, composure, flexibility, and adaptability.
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Strong organizational skills with the ability to coordinate complex activities, prioritize competing demands, and meet deadlines.
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Self-motivated with the ability to work independently and solve problems.
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Strong written and oral communication skills.
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Demonstrated ethics, collaboration, and teamwork.
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Ability to maintain a big-picture perspective while handling detailed work and documentation.
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Ability to work productively and accurately in a fast-paced environment with multiple projects and stringent deadlines.
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Ability to work evening and weekend hours during peak periods.
Salary Transparency
You will be joining a team of talented professionals motivated by serving the community and addressing the need for affordable housing.
Enterprise offers a comprehensive total rewards package for you and your family. The pay range for this position is $100,000 – $130,000. The salary range represents the low and high end of what may be paid for this position. It is not typical for an individual to be hired at or near the top of the pay range, and compensation decisions may be influenced by a variety of factors, including skills, qualifications, experience, and location.
Total Rewards at Enterprise
This range is just one component of our total rewards package, which also includes annual performance bonuses and generous paid leave programs.
Our benefits form a major part of the total rewards package. These include dental, health, and vision care plans, as well as family-building benefits such as adoption and surrogacy support. Enterprise supports flexible work arrangements to promote work-life balance and offers health advocacy, an Employee Assistance Program (EAP), and mental health benefits. We round out our package with financial education, wellness programs, and auto-enrollment in the company’s 401(k) plan with employer matching contributions.
Finally, you will have access to learning and development opportunities, including tuition reimbursement for job-related courses and certifications. Thank you for your interest in joining the Enterprise team and contributing to our mission to serve others.
#LI-JW1 #ID
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