Underwriter / Senior Underwriter

Job Type

Full Time




521 5th Avenue
suite 625
New York
New York
United States



The Underwriter/Senior Underwriter  is responsible for conducting due diligence and underwriting for approval loans made to support the development of affordable housing, charter schools, and other community facilities. The Underwriter/Senior Underwriter works closely with Loan Officers to obtain credit approval of new loans and also to prescreen potential loans for term sheet offers. As part of the Lending team, the Underwriter/Senior Underwriter supports the achievement of regional and overall Lending work plan goals. 


The Underwriter/Senior Underwriter reports to the Director, Northeast Region in the New York City office but will work closely with market Directors and Deputy Directors, Loan Officers, and the Chief Credit Officer to underwrite for approval transactions throughout the Eastern US to help meet LIIF’s lending goals. The Underwriter/Senior Underwriter will communicate with borrowers, third party lenders, attorneys and other external parties, as appropriate.  

Essential Functions

  • Due Diligence: The Underwriter/Senior Underwriter manages the collection of the loan application materials from the borrower and commissions third-party due diligence reports (e.g., appraisal, plan and cost review, etc.) from vendors. 
  • Site Visits – The Underwriter/Senior Underwriter will conduct a site visit as part of underwriting each transaction and will attend prospect/customer calls as needed to support market Directors and Loan Officers.
  • Underwriting: The Underwriter/Senior Underwriter will use the application package and third-party reports to underwrite the loan request. Underwriting will include analysis of: financial proforma projections, budgets, repayment sources, market and regulatory conditions, appraisal reviews, entitlement/land use assessments, environmental reports, plan and cost reviews, property conditions reports, requirements related to other capital sources and subsidies, borrower and guarantor financial statements, management and leadership of sponsor, any commercial tenant leases, and other analysis as appropriate to assess credit risk on a given transaction. The Underwriter/Senior Underwriter will compare the credit to LIIF’s standard product requirements to ensure conformance or identify exceptions. He or she may also support Loan Officers in assessing eligibility of the credit for special funding programs.
  • Credit Approval: Underwriter/Senior Underwriter will prepare written loan approval requests for presentation to the market Director and to the Chief Credit Officer and/or Loan Committee for final approval. He or she will prepare exhibits (e.g., financial analysis) for the loan approval package and work closely with Loan Officer to present the credit approval requests.
  • Customer Service: The Underwriter/Senior Underwriter will maintain a positive and professional relationship with LIIF’s customers and business partners (which include third party lenders, attorneys and other external parties such as appraisers) by both initiating and responding promptly to any and all requests in a responsive, consistent, and accurate manner.  
  • Pipeline Management: The Underwriter/Senior Underwriter will input prospective new transactions into the transaction database and assist the department with reporting and management of the regional pipelines.


The ideal candidate for this position will have these key qualifications:

  • For Underwriter, at least two years of experience in real estate-based lending and/or business lending, including borrower contact, credit analysis, due diligence and loan documentation. For Senior Underwriter, at least five years of such experience.
  • Proficiency in analyzing financial statements of individuals, for-profit businesses, and nonprofit organizations and their real estate operations (in particular, rental housing and community facilities occupied by a single tenant).  Familiarity with basic accounting principles including the ability to translate cash to accrual accounting and vice versa and ability to spread and analyze such statements to assess financial condition.
  • Familiarity with federal, state, and local government funding sources for capital and operating needs of multi-family housing, special needs housing, charter schools, and community facilities (e.g., child care centers, health clinics, etc.).
  • Working experience with both private sector financial institutions and public agencies.
  • Familiarity with the design, permitting, and construction process for developing real property.
  • Basic familiarity with business law concepts including contracts, loan collateral, uniform commercial code, creditors' rights and forms of business organization and sufficient knowledge to review and negotiate loan documents.
  • Proficiency with Microsoft Office Suite Programs, and other database software.
  • Excellent skills in managing multiple tasks requiring strong attention to detail.


Educational background should include a bachelor’s degree in a relevant area of study such as real estate, urban planning, business administration or finance, and at least an introduction to accounting; an advanced degree is preferred. In addition, the position requires a high degree of self-motivation, dedication, creativity, and perseverance; flexibility with time and willingness to accept a demanding (and personally satisfying) position. Excellent teamwork and strong time management skills are essential.  Travel is required, and candidates must have a valid driver’s license.


We offer excellent benefits. See our website for overview.

Professional Level


Minimum Education Required

4-year degree