National Underwriter

JOB OVERVIEW

A core function of LISC is its operation as a loan fund. LISC provides various loan products to a wide array or project types. All loans are subject to oversight by LISC's Lending Department. In 2023, LISC closed $257 million of new, core loan commitments and the outstanding loan portfolio at year-end was $683 million.

Position Description

LISC is seeking a qualified candidate for a National Underwriter. This position will be part of LISC's Lending Department and will report to LISC's Vice President, National Underwriting. The National Underwriter will provide technical assistance and direct underwriting support to local Program Officers and serve as primary underwriter for a set of national and regional borrowers that operate in multiple LISC markets. The National Underwriter will have deep knowledge of public and private resources available to leverage LISC's investment and will provide support to strategically deploy LISC's full array of financing products.

Responsibilities

* Screen, structure and underwrite financing requests including analyzing operating performance, historical and projected financial performance, management capacity, organizational structure, and project feasibility for housing, commercial, and mixed-use projects at various stages of development.

* Provide support to local LISC staff on project-specific analysis, deal structuring assistance and underwriting.

* Support the deployment of national public and private funding sources in support of LISC's community development mission.

* Collaborate with internal and external parties (banks, co-lenders, attorneys, etc.) to structure financings including managing intercreditor negotiations; reviewing real estate contracts, leases and due diligence; and identifying and negotiating key risks and mitigants including reserves, guarantees and other forms of credit enhancement.

* Present loan recommendations for credit approval and manage the closing process with in-house and external counsel.

* Provide technical assistance to internal LISC staff on project planning, development models and financing options.

* Coordinate internal and external relationships that are critical to growth of the LISC loan portfolio.

* Review and decision loan intakes as assigned.

* Support and work with LISC management to develop strategic collaborations with public sector agencies at the local, state and federals levels that leverages LISC's capabilities and national platform.

* Participate in training and continuous improvement efforts.

* Perform all other duties as assigned.

Qualifications

* Bachelor's degree from an accredited college or university in business, finance, real estate or related fields. Master's degree preferred.

* Minimum 5 years of professional experience in housing and community development and/or multifamily real estate development is preferred, including project financing, market analysis, deal structuring, and financial analysis. Residential mortgage loan origination experience does not apply.

* Demonstrated ability to manage multiple transactions at various stages and coordinate with multiple internal and external parties to meet approval and closing deadlines.

* Strong working knowledge of MS Office Suite programs in particular MS Excel and Word.

* Deep knowledge of and experience with community development financing preferred including but not limited to tax credits (low-income housing, historic, and new market); tax-exempt bonds; and federal, state and city subsidy programs.

* Knowledge of key concepts related to the overlap of environmental sustainability and community development.

* Strong verbal and written communication skills.

* Ability to work both independently and collaboratively.

* Highly detail-oriented and ability to convey complex information clearly and concisely.

* Demonstrated interest in LISC's community development mission.

Compensation

LISC offers a competitive salary ($102,000-$127,500) and excellent fringe benefits.