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VP / AVP - Multifamily Affordable Underwriter

Job Req ID 22445087 Primary Location Brentwood, Tennessee; Denver, Colorado; New York, New York Job Category Institutional Banking
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The Citi Community Capital (“CCC”) business line within Citi’s Global Spread Products (“GSP”) Municipal Finance Division, is seeking an experienced Multifamily Underwriter to join our team. 

CCC provides a suite of financial products to help affordable housing developers construct, rehabilitate, refinance and acquire multifamily housing across the country.  Committed to the communities we serve, CCC finances both straightforward and highly structured transactions for non-profit and for-profit affordable housing developers, Community Development Financial Institutions, and state and local government agencies. 

We work throughout the country from 13 offices and, according to Affordable Housing Finance Magazine, have been the #1 affordable housing lender in the United States in each of the past eleven years. That success is due in large part to having the strongest, most innovative team of professionals in the country.

CCC is currently recruiting for an AVP or VP affordable housing underwriter to join our team; the professional will be responsible for and possess the following qualifications:

KEY RESPONSIBILITIES

  • Analyze financial feasibility of new transactions, including construction, acquisition and permanent loans.
  • Review due diligence and prepare credit memorandums and financial analysis spreadsheets which are presented to credit committee for approval.
  • Travel to markets throughout the U.S. to conduct site inspections, meet with internal and external clients and analyze real estate market dynamics.
  • Process deals through internal systems to ensure transactions are properly represented in the risk systems and satisfy regulatory requirements.
  • Manage communications among a diverse mix of internal and external participants including borrowers, equity investors, production, legal (internal and external) and loan approvers.
  • Work with Production, Transaction Management and Asset Management teams during the closing of a transaction.
  • Liaise between, but not limited to, Legal, Operations, Technology, Production and Credit Risk Management.
  • Review transactions for internal and external (local laws and regulatory) policies.

REQUIRED SKILLS

  • Candidate is required to have a BA/BS. Candidates should have a minimum of 3-5 years of real estate loan underwriting experience, including LIHTC transactions.
  • Ability to analyze real estate projects for feasibility including developing and modeling construction budgets, operating pro formas, reviewing appraisals and other 3rd party reports, analyzing market factors, completing sponsor analysis as well as identifying and mitigating transaction risks.
  • Strong knowledge of or the desire to learn the nuances of affordable housing, bond and LIHTC transactions.
  • Excellent communication, organization, 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
  • Ability to travel on short notice necessary.

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Job Family Group:

Institutional Banking

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Job Family:

Investment Banking

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Time Type:

Full time

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Effective November 1, 2021, Citi requires that all successful applicants for positions located in the United States or Puerto Rico be fully vaccinated against COVID-19 as a condition of employment and provide proof of such vaccination prior to commencement of employment.

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