Underwriter, CDA LENDING AND RISK ANALYST SENIOR II (078523)

CDA Lending and Risk Analyst Sr. II (078523)

Underwriter

Recruitment # 26-003730-0001 Filing Deadline – 8/06/2026 11:59:00 PM

Salary $93,138 - $120,491/year (Grade 21 with promotional growth to $146,883)

This is a Skilled Service position with full Maryland State Benefits

Work that matters. The Maryland Department of Housing and Community Development (DHCD) is a national leader in the financing of affordable housing and revitalizing communities. This is an opportunity to join this nationally recognized, award-winning organization and apply your skills to this high public purpose and challenging area. Annually, DHCD finances approximately 4,000 units of multifamily rental housing in 40 properties, amounting to $500 million in construction and permanent financing. Funding comes from a variety of sources, including state-appropriated funds, taxable and tax-exempt revenue bonds, federal low-income housing tax credits, federal HOME funds, and other federal funds. Additionally, DHCD administers rental assistance programs and innovative initiatives designed to expand affordable housing opportunities for persons with disabilities, increase the energy efficiency and sustainability of affordable multifamily developments, and preserve rental housing.

DHCD is looking to immediately hire a qualified Underwriter (CDA Lending and Risk Analyst Sr. II) within the Division of Community Development Administration Multi-Family.

DHCD offers a flexible work schedule, full state of Maryland benefits, hybrid telework and job sharing options; training, advancement and career path opportunities; and a competitive salary. There is ample and our offices are located in walking distance to the New Carrollton MARC Train Station.

GRADE

21

This position offers a salary range of $93,138 - $120,491/year, with potential for advancement up to $146,883 based on qualifications, equity, and hiring guidelines. Initial salary offers are determined by qualifications, experience, and available budget, and typically do not exceed $120,491/year.

LOCATION OF POSITION

7800 Harkins Road Lanham, MD 20706

The Maryland Department of Housing and Community Development Headquarters is located in Prince George’s County across from the New Carrollton Metro Stop.

POSITION DUTIES

The main purpose of this position is to underwrite and close tax-exempt bond, 4% low-income housing tax credits (LIHTC), 9% LIHTC, and State-provided subordinate loans for affordable multifamily housing transactions by originating loans for the investments.

The position structures financing transactions using taxable and tax-exempt bonds, low-income housing tax credits, FHA insured loans, RAD, HAP, and other sources of housing capital and operating subsidy by performing development and feasibility analysis to evaluate pro forma, income and expense assumptions, market demand, zoning and land use, construction risks, capital budgets, and regulatory compliance. The position coordinates closing due diligence and provides guidance and training to interns and less experienced underwriters as needed.

MINIMIUM QUALIFICATIONS

Education: Graduation from an accredited high school or possession of a high school equivalency certificate.

Experience: Four years of professional financial/risk analysis experience, such as managing government programs, risk analysts, debt portfolios, examining and/or analyzing financial statements, budget, grant or real estate investment portfolio records and reports, or four years of experience in Construction Management (as applicable), and four years of professional financial analysis experience, such as managing financial asset and debt portfolios, or four years of residential construction discipline or multifamily construction management.

Notes:

1: Candidates may substitute the possession of a Bachelor’s degree from an accredited college or university in Finance, Business Administration, Architecture, Economics, Accounting, Construction Management or a related field and four years of professional financial/risk analysis experience, such as managing government programs, risk analysts, debt portfolios, examining and/or analyzing financial statements, budget, grant or real estate investment portfolio records and reports, or four years of experience in Construction Management (as applicable) for the required experience.

2: Candidates may substitute the possession of a Certified Public Accountant (CPA) certification or documented eligibility to sit for the CPA Examination and four years of professional financial/risk analysis experience, such as managing government programs, risk analysts, debt portfolios, examining and/or analyzing financial statements, budget, grant or real estate investment portfolio records and reports, or four years of experience in Construction Management (as applicable) for the required experience.

3: Candidates may substitute the possession of a Master’s degree from an accredited college or university in Finance, Business Administration, Architecture, Construction Management, Economics, Accounting or a related field and two years of professional financial/risk analysis experience, such as managing government programs, risk analysts, debt portfolios, examining and/or analyzing financial statements, budget, grant or real estate investment portfolio records and reports, or two years of experience in Construction Management (as applicable) for the required experience.

4: Candidates may substitute U.S. Armed Forces military service experience as a commissioned officer in the Accounting or Loan Officer Classifications, or as a commissioned officer in business and industry classification or business and industry specialty codes in the housing management field of work on a year-for-year basis for the required experience.

DESIRED OR PREFERREDQUALIFICATIONS

• Experience preparing and presenting real estate development financing proposals for review and approval.
• Experience underwriting Low Income Housing Tax Credits (LIHTC), tax-exempt bonds, senior loans, subordinate loans, energy assistance programs, rental assistance programs, and/or federal loan programs.
• Experience performing multi-family real estate financial analysis, feasibility analysis, and risk analysis.
• Experience using financial analysis software to analyze real estate development pro formas and a borrower’s creditworthiness and financial stability.

TTY Users: Call via Maryland Relay

We thank our Veterans for their service to our country and encourage them to apply.

As an equal opportunity employer, Maryland is committed to recruiting, retaining, and promoting employees who are reflective of the State’s diversity.

For more information and to apply:

Job Announcement: CDA LENDING AND RISK ANALYST SENIOR II (078523) - State of Maryland

State of Maryland Benefits