What are the responsibilities and job description for the LIHTC Underwriter Associate position at Deutsch Creative?
Description
LIHTC Associate must have experience underwriting, closing, and managing risk associated with Low Income Housing Tax Credit (LIHTC) equity investments and/ or debt products.
Essential Job Functions
LIHTC Associate must have experience underwriting, closing, and managing risk associated with Low Income Housing Tax Credit (LIHTC) equity investments and/ or debt products.
Essential Job Functions
- Underwrite real estate/LIHTC financial modeling to facilitate Credit approval.
- Properly identify key risks and mitigants for new construction and acquisition / rehab properties utilizing the LIHTC program
- Working knowledge of nuances of state and federal LIHTC programs
- Strong understanding of operating agreements and limited partnership agreements.
- Drive the closing process with the client, utilizing closing checklists to identify and monitor progress of items required to close and responsible parties.
- Identify items and conditions to be satisfied for closing and reviewing due diligence for the transaction.
- Display high level proficiency in reviewing documentation to ensure accurate representation of business terms and conformity to approvals.
- Consistently provide superior service to clients while maintaining risk management procedures and controls.
- Clearly and immediately communicate problems/ issues and elevate appropriately.
- Provide accountability for clear and timely communication of deal progress to internal and external stakeholders.
- Customer Focus: Is dedicated to meeting the expectations and requirements of internal and external customers.
- Detail Oriented: Analyzes and interprets information; ensures quality and content of all aspects of a transaction; is able to manage a variety of tasks accurately.
- Integrity, Trust & Respect: Is widely trusted; is seen as a direct, truthful individual who respects others and is respected; can present the unvarnished truth in an appropriate and helpful manner; keeps confidences; openly acknowledges his/her own mistakes; does not misrepresent himself/herself for personal gain.
- Problem Solving: Uses rigorous logic and methods to solve difficult problems with effective solutions; probes all fruitful sources for answers; can see hidden problems; is excellent at honest analysis; looks beyond the obvious and doesn’t stop at the first answers.
- Time Management: Uses time effectively and efficiently; values time; concentrates efforts on the most important priorities; is organized and gets more done in less time than others; can attend to a broader range of activities.
- Written Communications: Is able to write clearly and succinctly in a variety of communication settings and styles; can get messages across that have the desired effect.
- Bachelor’s Degree in Business Administration, Finance, Urban Planning/Real Estate, or Engineering or sufficient experience
- Strong knowledge of federal and state LIHTC programs
- Strong knowledge of government programs for affordable housing and community reinvestment; experience with not-for-profit real estate development and sensitivity to local community needs
- Minimum 3 years of experience in Low Income Housing Tax Credit and Community Lending industry with underwriting and/or risk management experience
- Strong communication skills both written and verbal
- Attention to detail
- Advanced proficiency in MS Office suite (Excel, Word, PowerPoint), and Salesforce
- 5 years' experience underwriting, originating, or closing community development loans and/or equity investments
