Skip to main content



The health and safety of our colleagues and candidates for employment are our highest priority. Accordingly, Citi continues to monitor the COVID-19 situation closely. We have implemented precautionary measures across our firm globally, including conducting all candidate interviews virtually on a temporary basis until further notice where needed.

Multifamily Affordable Underwriter

Job Req ID 21349022 Primary Location O'Fallon, Missouri; Houston, Texas; Tampa, Florida; Brentwood, Tennessee Job Category Institutional Banking
Apply Now

Multifamily Affordable Underwriter

The Citi Community Capital (CCC) business line within Citi’s Global Spread Products (“GSP”) Municipal Finance Division, is seeking a Multifamily Underwriter to join its Conversion Underwriting Team, focused on the underwriting and closing of transactions that are converting from existing construction loans to permanent loans.

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. 

CCC works throughout the country from 13 offices and, according to Affordable Housing Finance Magazine, has 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 looking to add an experienced Multifamily Affordable Underwriter to its Conversion Underwriting Team; the professional will be responsible for and possess the following qualifications:

Key Responsibilities:

  • Analyze existing construction loans to determine whether or not the conditions for conversion to permanent, non-recourse financing have been met; including financial feasibility, physical and environmental condition, borrower financial status and regulatory requirements.
  • Review and understand legal documents to ensure transactions comply with the originally negotiated terms and conditions as well as internal and external (local laws and regulatory) policies.
  • Review and analyze due diligence information used to underwrite and finalize deal files for delivery into internal and/or Agency (Freddie Mac or Fannie Mae) systems.
  • Create and present comprehensive credit underwriting packages for review and approval by internal Risk Management and Business credit officers.
  • Utilize internal automated systems as necessary to document credit approval and underwriting processes.
  • Manage communications among a diverse mix of internal and external participants including production officers, borrowers, Agency lenders, equity investors, attorneys, title agents, etc.
  • Travel to markets throughout the United States to conduct site inspections, meet with internal and external clients, and participate in training opportunities.

Required Skills:

  • Ability to analyze real estate projects for financial feasibility including property-specific, neighborhood and market factors. 
  • Strong working knowledge and understanding of commercial real estate concepts such as NOI, Cap Rates, debt service coverage, etc.
  • Previous multifamily affordable housing underwriting experience, ideally including experience with Freddie Mac and/or Fannie Mae transactions.
  • Working knowledge of the nuances of Affordable Housing, bond and LIHTC transactions is preferred.
  • Excellent written and verbal communication, organizational and interpersonal skills, along with the ability to multi-task under tight deadlines.
  • Ability and desire a take ownership of the underwriting and conversion process to drive a diverse group of deal participants toward successful closing.
  • Ability to work without supervision, with high attention-to-detail, keen judgement and a pay for performance attitude.
  • Professionalism and composure to provide client-focused service while also managing internal relationships.
  • Analytical and computer skills including the ability to quickly adopt new technology.
  • Willingness and ability to travel (10% - 20% of the time) on short notice.


  • Candidate will possess a BA/BS level degree in Business, Real Estate Finance or related academic study.


Job Family Group:

Institutional Banking


Job Family:

Investment Banking


Time Type:


Citi is an equal opportunity and affirmative action employer.

Qualified applicants will receive consideration without regard to their race, color, religion, sex, sexual orientation, gender identity, national origin, disability, or status as a protected veteran.

Citigroup Inc. and its subsidiaries ("Citi”) invite all qualified interested applicants to apply for career opportunities. If you are a person with a disability and need a reasonable accommodation to use our search tools and/or apply for a career opportunity review Accessibility at Citi.

View the "EEO is the Law" poster. View the EEO is the Law Supplement.

View the EEO Policy Statement.

View the Pay Transparency Posting

Apply Now
  • Join our team
    of 200,000+
    strong diverse employees

  • Socially minded employees volunteering in communities across 90 countries

  • Meaningful career opportunities thanks to a physical presence in over 98 markets

We foster a culture that embraces all individuals and encourages diverse perspectives, where you can make an impact and grow your career. At Citi, we value colleagues that demonstrate high professional standards, a strong sense of integrity and generosity, intellectual curiosity, and rigor. We recognize the importance of owning your career, with the commitment that if you do, we promise to meet you more than half way.

Saved Jobs

You have no saved jobs

Previously Viewed Jobs

You have no viewed jobs