What are the responsibilities and job description for the UNDERWRITER, CITI COMMUNITY CAPITAL (CCC) - AFFORDABLE MULTIFAMILY LENDING - VP position at Citigroup?
The professionals at Citi Community Capital (CCC) originate, underwrite and close construction and permanent loans that are used to finance the new construction, rehabilitation and preservation of affordable and workforce rental housing. CCC is the community lending and investing arm of Citigroup, housed within Institutional Credit Management of Citi's Global Spread Products Group.
Unique among its peers, CCC provides a comprehensive array of financial products from investment banking to lending and equity investment designed to improve neighborhoods, create jobs, or improve the health care services or educational opportunities available to the communities we serve as well as contribute toward Citigroups Community Reinvestment Act performance.
CCC works with for-profit and non-profit developers, as well as state and local government agencies on both straightforward and highly structured transactions that may use a combination of taxable and tax-exempt loans or bonds, Low Income Housing Tax Credit (LIHTC) equity, and governmental and private subsidies. CCC is a balance-sheet construction lender and a permanent lender, a Fannie Mae and Freddie Mac mortgage banker, and principal in unique equity investments.
CCC works throughout the country and, according to Affordable Housing Finance Magazine, has been the #1 affordable housing lender in the United States for 14 consecutive years. This success is due in large part to having the strongest and most innovative team of professionals in the industry. Citis team of experienced professionals, coupled with its capital-committing capability, is able to provide creative financing solutions that are specifically designed to meet each clients needs.
CCC is currently recruiting for an experienced affordable housing real estate underwriter to joins its West Coast team; title will depend on level of experience.
REQUIRED SKILLS
- Candidate is required to have a BA / BS. Preferred candidates would have 7-10 years of real estate loan underwriting experience, ideally in Affordable Housing.
- Ability to analyze real estate projects for feasibility including developing and modeling construction budgets, operating pro forma(s), reviewing appraisals and other 3rd party reports, analyzing market factors, completing sponsor analysis as well as identifying and mitigating transaction risks.
- Excellent communication, organization, analytical thinking and interpersonal skills, as well as the ability to multi-task under tight deadlines.
- High attention to detail and the desire to take ownership of a process to drive towards resolutions. Strong motivation with the ability to work without supervision, keen judgement and a pay for performance attitude.
- Possess the professionalism and composure to provide client focused business while also managing internal relationships.
- Analytical and computer skills including the ability to quickly adopt new technology.
- Strong knowledge of or the desire to learn the nuances of affordable housing, bond and LIHTC transactions.
- Ability to travel on short notice necessary.
This job description provides a high-level review of the types of work performed. Other job-related duties may be assigned as required.
Risk Management
Credit Decisions
Full time
Los Angeles California United States
123,360.00 - $185,040.00
In addition to salary, Citis offerings may also include, for eligible employees, discretionary and formulaic incentive and retention awards. Citi offers competitive employee benefits, including : medical, dental & vision coverage; 401(k); life, accident, and disability insurance; and wellness programs. Citi also offers paid time off packages, including planned time off (vacation), unplanned time off (sick leave), and paid holidays. For additional information regarding Citi employee benefits, please visit citibenefits.com. Available offerings may vary by jurisdiction, job level, and date of hire.
Oct 23, 2024
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Citi is an equal opportunity and affirmative action employer.
Minority / Female / Veteran / Individuals with Disabilities / Sexual Orientation / Gender Identity.
Salary : $123,360 - $185,040
