Multifamily Housing Underwriter

Job Title: Multifamily Housing Underwriter

Basic Purpose

The primary responsibility of the Multifamily Housing Underwriter/Affordable Housing Analyst is to evaluate, underwrite, and ensure compliance for Affordable Housing Program (AHP) applications. This role involves providing technical assistance to member institutions and community organizations, reviewing and processing funding requests for multi-family rental and affordable housing projects, and ensuring compliance with federal and state affordable housing programs. The analyst will also assist in the preparation of departmental marketing materials and ensure adherence to AHP rules and regulations.

Primary Responsibilities

• Application Evaluation and Underwriting
• • Analyze and underwrite AHP rental and owner-occupied disbursement requests, ensuring compliance with AHP regulations and internal policies.
  • Provide recommendations for funding approval/denial to the AHP General Fund Manager.
  • Participate in the review, analysis, and selection of Affordable Housing Program applications.
• Technical Assistance and Collaboration
• • Provide guidance to member institutions, non-profit organizations, and community/government leaders on the features and applications of AHP and related programs.
  • Collaborate with analysts to address complex issues regarding applications, modifications, funding, and monitoring.
• Funding and Compliance Monitoring
• • Review and process funding requests, including construction draws and disbursements for multi-family rental projects, ensuring project viability.
  • Perform compliance reviews for AHP rental projects, including income targeting and rent compliance.
  • Analyze rent rolls and tenant files to ensure compliance with AHP regulations.
  • Monitor project status to ensure adherence to guidelines and provide updates to the management team.
• Program Management and Development
• • Maintain knowledge of federal, state, and local affordable housing programs and apply this knowledge to update policies and procedures.
  • Assist with planning and organizing AHP workshops, webinars, and promotional activities.
  • Contribute to the development and maintenance of internal systems and applications, ensuring compliance with regulations and internal controls.
• Additional Responsibilities
• • Perform user acceptance and validation testing for departmental systems.
  • Provide regular and ad hoc operational support for departmental needs.
  • Travel up to 10% to participate in speaking engagements, workshops, and promotional events.

Job Requirements

• Education and Certification
• • Bachelor’s degree in Business, Finance, Economics, Real Estate, Public Policy, or Urban Planning.
  • Master’s degree in Public Administration or a related field is preferred.
  • Certification in affordable housing or related programs (e.g., Grow America/National Development Council) is a plus.
• Experience
• • 4–6 years of financial analysis and credit underwriting experience related to multi-family real estate, affordable housing development, or commercial finance.
  • Experience in affordable housing ownership and compliance, including LIHTC regulations and monitoring.
  • Familiarity with federal and state affordable housing programs.
• Skills and Competencies
• • Advanced proficiency in Microsoft Office Suite (Excel, Word, PowerPoint) and Adobe Acrobat.
  • Strong analytical, interpersonal, presentation, and written communication skills.
  • Experience processing funding requests for construction draws and monitoring multi-family rental properties.
  • Ability to review rent rolls and tenant files for compliance.

MANAGER NOTES:

• 15-year proformas
• Multi-Family Rental; monitoring of multi-family real estate properties
• Experience reviewing rent rolls including tenant files
• Affordable Housing or LIHTC Compliance
• Affordable Housing Ownership Experience
• Funding requests - experience processing funding requests on a construction draw
• MS Office Skills – using Adobe
• Federal and state affordable housing programs