What are the responsibilities and job description for the LIHTC UNDERWRITER position at Enterprise Community Partners?
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 $72 billion and created 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 skill is required.
Job Description
Responsibilities :
- Underwrite tax credit investments as assigned by the Originator 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 of each transaction, obtain due diligence materials from client, conduct site visits as needed, review project loan documents and LP agreement for material business terms, participate with the originator in conference calls with the customers, prepare and present requests for investment committee approval including narrative descriptions, charts, graphs and tables illustrating pertinent aspects of the proposed investment.
- Under the direction of the originator, 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 originator regarding deal underwriting progress including process checklist review, due diligence review, transaction timing, and issue identification 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) and help to complete and organize closed deal files for transition to Asset Management.
- Assist with other Syndication priorities as requested (e.g., asset management, investor relations, assistance to other lines of business).
- Participate in and contribute to group meetings and discussions.
- Performs other duties as assigned.
Qualifications :
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.
LI-JW1 #ID #PGM
Salary : $120,000 - $130,000
