LIHTC, Sr. Underwriter
Location: Remote Location
Time Type: Full time
Requisition ID: REQ4002
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
Enterprise Community Investment is seeking an experienced individual with affordable housing and/or LIHTC experience to underwrite low-income housing tax credit investments. Extensive knowledge of LIHTC (Low Income Housing Tax Credits) along with strong financial analysis skills is required.
Job Description
Responsibilities
Underwrite tax credit investments as assigned, including completion of the following underwriting tasks: sponsorship analysis, market analysis, sources and uses and capital structure analysis, income and expense underwriting, and tax credit documentation analysis. As part of processing each transaction, obtain due diligence materials from the client, conduct site visits as needed, review project loan documents and the LP agreement for material business terms, participate with the originator in conference calls with customers, and prepare and present requests for investment committee approval and investor review, including narrative descriptions, charts, graphs, and tables illustrating pertinent aspects of the proposed investment.
Underwrite a high volume of and/or highly complex transactions that require a high level of coordination with clients.
Under the direction of the originator and director of underwriting, communicate and manage customer expectations through the underwriting process using a positive and proactive approach that will enable repeat origination opportunities.
Provide regular communication to the originator and director of underwriting regarding deal underwriting progress, including process checklist review, due diligence review, transaction timing, issue identification, and timely preparation and regular updates to the Transaction Summary format as required by the originator and the process checklist.
Assist with and attend deal closings or other customer service coverage enhancement opportunities (if requested by the originator or director of underwriting) and help complete and organize closed deal files for transition to Asset Management.
Assist with other Syndication priorities as requested (e.g., asset management, investor relations, and assistance to other lines of business).
Participate in group meetings, discussions, and ongoing process improvement efforts. Mentor and assist with training of newer staff.
Perform other duties as assigned.
Qualifications
Core Technical Expertise
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Bachelor’s degree in Business, Accounting, Finance, or a related field required; master’s degree preferred.
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6–8+ years of experience in real estate finance, affordable housing, and/or the Low-Income Housing Tax Credit (LIHTC) program, including familiarity with apartment market dynamics and relevant industry policies, issues, and programs.
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Extensive knowledge of LIHTC required.
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Strong financial analysis skills required, including advanced Excel modeling capabilities.
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Experience closing real estate transactions highly preferred.
Execution and Operational Performance
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Ability to manage multiple tasks effectively under significant time pressure and meet closing deadlines.
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Strong organizational skills, with the ability to coordinate complex activities, prioritize competing demands, and meet deadlines.
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Ability to maintain a big-picture perspective while attending closely to detail and producing thorough documentation.
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Demonstrated ability to work productively and accurately in a fast-paced environment while managing multiple projects and stringent deadlines.
Communication and Collaboration
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Strong writing and editing skills needed to produce correspondence and reports.
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Demonstrated verbal communication and interpersonal skills to represent the company effectively to all parties.
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Proficiency in Microsoft Word required; PowerPoint proficiency a plus.
Professional Judgment and Work Style
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Highly motivated, with the ability to work independently, solve problems effectively, and communicate clearly in writing and verbally.
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Demonstrated professionalism, diplomacy, composure, flexibility, and adaptability in a variety of situations.
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Expected to demonstrate strong ethics in interpersonal relationships and to work effectively as a collaborative team member.
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Ability to work evening and weekend hours during peak periods.
Total Rewards at Enterprise
You will be working with a group of talented professionals who are 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 base salary for this role is $120,000 to $130,000, depending on level of skills and experience.
The salary range for this position is represented by the low and high end of the range for the amount to be paid for the position. Salaries paid at Enterprise will vary based on factors that may include skills, education, location, experience, and performance. The salary range is just a part of the total rewards package provided to employees at Enterprise, and other rewards may include annual performance bonuses and generous paid leave programs.
At Enterprise, our benefits form a major component of our total rewards package. Benefits include dental, health, and vision care plans, as well as family-building benefits, such as fertility, adoption, surrogacy support, and gender-affirming care. Enterprise allows flexible work arrangements to promote a better work-life balance. We offer health advocacy, EAP, and mental health benefits. We round out our total rewards package by offering financial education, wellness programs, and auto-enrollment in the company's 401(k) plan with employer matching contributions. Finally, you will have learning and development opportunities, including tuition reimbursement for job-related courses and certifications. Thank you for your interest in joining the Enterprise team in our effort and commitment to serve others.
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