Senior Community Development Underwriter
Oakland, California, United States
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.
JOB OVERVIEW:
The LISC Bay Area team is looking for a collaborative and passionate individual to join our team as Senior Community Development Underwriter (SCDU). The SCDU will be responsible for underwriting on behalf of Bay Area LISC across an array of community development product types and asset classes, with a particular focus on affordable housing. The SCDU contributes to the implementation of LISC Bay Area’s new 3-year strategic plan, especially related to our work on increasing access to capital and ecosystem building, across both our affordable housing and economic development portfolios. The SCDU will work closely with a variety of community-based and internal stakeholders, providing technical assistance to Bay Area LISC staff as well as community development organizations we support. The position requires a strong commitment to the role of community-based non-profit organizations as drivers of development as well as an understanding of the development financing ecosystem in the Bay Area.
Primary responsibilities will include:
- Serve as underwriter for Bay Area LISC Loans, including working with borrowers to structure transactions, 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.
- Support the Senior Director of Investments with investor relations and coordination with LISC Fund Management (LFM), including preparation of investor materials and presentations.
In close collaboration with the Bay Area LISC team, primary responsibilities will include:
- Conduct business development by identifying potential loan clients and providing technical assistance and partnership to colleagues as needed.
- Develop, launch, and manage new loan products and initiatives, and provide support to team members as necessary during development and fundraising process.
- Strengthen and expand the Bay Area community-based organization ecosystem.
- Develop programs with non-profit, private and public sector agencies that leverage LISC’s capabilities and national platform.
QUALIFICATIONS:
- Minimum seven (7) years real estate lending or credit review experience at a nonprofit financial intermediary, bank or similar institution.
- Bachelor’s degree from an accredited college or university or relevant related work experience.
- Strong capacity in transaction structuring and underwriting.
- Deep knowledge of financing products such as predevelopment, acquisition, construction, bridge and permanent loans.
- Demonstrated ability to manage multiple complex transactions.
- Strong familiarity with government subsidies and tax credit programs for community facilities and housing.
- Demonstrated commitment to racial and economic equity.
- Excellent interpersonal skills.
- Good organizational abilities.
- Strong written and oral communication skills.
COMPENSATIONS & BENEFITS:
LISC offers a competitive salary of $107,100 - $133,900 commensurate with experience and location and excellent fringe benefits. The position is based in Oakland, CA and is a hybrid position, with an expectation of two (2) days in office or in the field.
LISC is an equal opportunity employer. LISC does not discriminate in employment on account of actual or perceived race, color, creed, religion, national origin, ancestry, citizenship status, age, sex or gender (including pregnancy, childbirth, lactation and related medical conditions), gender identity or expression (including transgender status), sexual orientation, marital status, military status or veteran status, unfavorable discharge from military service, physical or mental disability, protected medical condition as defined by applicable state or local law, genetic information or any other characteristic protected by applicable federal, state or local laws and ordinances.
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