National Underwriter


Job Type

Full Time

Published:

05/16/2018

Address

New York
New York
United States

Description

Local Initiatives Support Corporation

Lending Department, National

 

POSITION TITLE:              National Underwriter

REPORTS TO:                    Vice President, Business Development

JOB CLASSIFICATION:    Exempt / Full Time

LOCATION:                        New York / Los Angeles / San Francisco (Flexible)

___________________________________________________________________________

 

THE ORGANIZATION:    

 

What We Do

With residents and partners, LISC forges resilient and inclusive communities of opportunity across America – great places to live, work, visit, do business and raise families.

Strategies We Pursue

 

Strengthen existing alliances while building new collaborations to increase our impact on the progress of people and places.

 

Develop leadership and the capacity of partners to advance our work together

 

Equip talent in underinvested communities with the skills and credentials to compete successfully for quality income and wealth opportunities.

 

Invest in businesses, housing and other community infrastructure to catalyze economic, health, safety and educational mobility for individuals and communities.

 

Drive local, regional, and national policy and system changes that foster broadly shared prosperity and well-being.

 

Over the last 38 years, LISC and its affiliates have invested approximately $20 billion in businesses, affordable housing, health, educational mobility, community and recreational facilities, public safety, employment and other projects that help to revitalize and stabilize underinvested communities. These investments have leveraged more than $50 billion in development activity and helped families and communities raise their standards of living. LISC investments impact the lives of nearly 7 million Americans. 

 

Headquartered in New York City, LISC’s reach spans the country from East coast to West coast in 31 markets with offices extending from Buffalo to San Francisco. Our rural programs make an impact in 44 states, and are supported by LISC’s talented and dedicated workforce. Visit us at www.lisc.org

 

 

 

Position Description

 

LISC is seeking qualified candidates to fill the newly created position of National Underwriter. This position will be part of LISC’s Lending Department and will report to LISC’s Vice President, Business Development or Chief Credit Officer. The National Underwriter will be responsible for providing technical assistance to LISC local program staff and underwriting on behalf of LISC local programs across a wide array of community development product types and asset classes. The National Underwriter will work in concert with Lending and Legal department staff and lending staff in the field and serve as a coordinator of national LISC lending resources. The National Underwriter’s interaction with local program staff will be largely determined by local capacity and the strategic priority of the work at hand. High capacity offices with experienced staff may require structuring and underwriting feedback at certain key junctures, while smaller less experienced offices may require more significant underwriting support. The position will provide customized assistance to local offices across the full range of lending activities, including structuring, underwriting, and closing of LISC loans. Primary responsibilities will including the following:

 

  • Provide technical assistance to local Program Officers that perform primary underwriting in the form of structuring assistance and ancillary underwriting support and guidance concerning compliance with LISC’s underwriting criteria.
  • Serve as primary underwriter for certain local offices and certain transactions, including working with borrowers to structure the transaction, conducting due diligence and financial analyses, and drafting credit memoranda.
  • Present loan recommendations to LISC’s credit committee and Board of Directors, as applicable.
  • Facilitate loan closings by working with counsel and borrowers on loan documentation and ensuring that all closing conditions have been satisfied.
  • Work with local staff, the Executive Directors and other partners to design new loan products and lending programs and create related marketing, informational and application materials.
  • Provide technical assistance support to partners to position their organizations to successfully implement more complex real estate developments.
  • Perform other related duties as needed.
  •  
  • Qualifications
  •  
  • Applicants should have the following qualifications:

  • Bachelor’s degree from an accredited college or university required; post-graduate degree strongly preferred.
  • Minimum seven (7) years real estate lending or credit review experience at a bank, nonprofit financial intermediary or similar institution.
  • Strong capacity in transaction structuring and underwriting, including ability to analyze financial statements, project development budgets, and project operating pro formas.
  • Familiarity with government subsidies and tax credit programs.
  • Excellent interpersonal skills and ability to work effectively across the LISC network of local and national programs and affiliates, including the National Equity Fund, Inc. (NEF) and New Markets Support Company (NMSC).
  • Good organizational abilities, including ability to work independently and to manage multiple assignments simultaneously.
  • Strong written and oral communication skills and excellent attention to detail.
  • Willingness to travel.
  •  
  • Job Specifications

 

Compensation will be commensurate with experience and abilities, consistent with the scope of the job. Excellent fringe benefits are also provided.  Flexibility on geographic location with preference for West Coast.  The position is available immediately.  

 

 

To apply, please send a cover letter and resume via email to: mnayar@lisc.org

 

Malini Nayar

Vice President, Business Development

Local Initiatives Support Corporation

501 Seventh Avenue – 7th Floor, New York, New York 10018

mnayar@lisc.org

 

LISC IS AN EQUAL OPPORTUNITY EMPLOYER

COMMITTED TO DIVERSITY AND INCLUSION

Professional Level

Professional

Minimum Education Required

4-year degree

How To Apply

mnayar@lisc.org

http://www.lisc.org

To apply, please send a cover letter and resume via email to: mnayar@lisc.org

 

Malini Nayar

Vice President, Business Development

Local Initiatives Support Corporation

501 Seventh Avenue – 7th Floor, New York, New York 10018

mnayar@lisc.org


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