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Underwriter - Commercial Lending

Capital for Change (C4C) New Haven, CT
  • Expired: 18 hours ago. Applications are no longer accepted.

1. Narrative Summary of Position

Capital for Change (C4C) is the largest full-service Community Development Financial Institution (CDFI) in Connecticut offering capital solutions that create and sustain lasting positive change for low-income communities, broaden social and economic participation, and encourage economic growth and environmental sustainability. We champion projects of all kinds with an approach that one size does not fit all, enabling us to create high impact products and programs that create affordable housing, increase energy efficiency, finance mixed-use development, and assist nonprofit organizations.

This position’s primary responsibility is to work with the staff of the Commercial Lending department to originate loans and help to advance the organization’s mission of providing flexible financing to borrowers, primarily for affordable housing projects. The Underwriter’s main focus will be on coordinating loan committee activities and on underwriting new loans or assisting other Lenders in underwriting. The staff member will independently underwrite modifications and extensions and work outs or assist other department staff in these activities. This staff member will also work on special projects as determined by senior staff.

2. Specific Responsibilities

  • Provide support for commercial loan underwriting department.
  • Screen and underwrite financing requests, including collection of application materials and analysis of historical and project operating performance, financial performance, management capacity, risk rating, organizational structure and overall project feasibility.
  • Provide support to other C4C staff members on project specific analysis and underwriting for affordable multi-family, single family and some nonprofit lending transactions as well as loan modifications, extensions and work-outs.
  • Perform administrative duties on behalf of the C4C Internal and regular Loan Committee meetings including: scheduling meeting dates, assembling and distributing meeting materials, ensuring quorum, and taking meeting minutes for the record.
  • Serve as a member of the C4C Internal Loan Committee and make recommendations on loans presented to the committee.
  • Where directed, prepare Loan Approval Documents and present loan recommendations to the C4C Loan Committee and manage the closing process with external counsel.
  • Coordinate with third party providers including inspectors and appraisers.
  • Participate in management of construction loan advances for applicable loans.
  • Provide technical assistance, as needed, to C4C borrowers.
  • Answer phone calls, provides basic information for loan inquiries and directs callers to appropriate parties within the organization.
  • Special projects as assigned by and directed by supervisors

3. Core Competencies

  • Excellent data analysis skills and experience, particularly related to housing, financial services or economic development programs. Experience interpreting financial statements, tax returns and credit reports preferred.
  • Computer proficiency including Office 365 (especially Microsoft Excel and Microsoft Access.), Salesforce and other programs as needed.
  • Strong written and verbal presentation skills.
  • Demonstrated organizational skills. Ability to handle multiple tasks and to operate productively without extensive supervision.
  • Strong attention to detail and accuracy.
  • Strong project management and problem-solving skills.
  • Self-starter and able to work in a team environment.
  • Commitment to working in the community development field or non-profit sector and working in a diverse organization.
  • Commitment to clear, detailed, service-oriented communication with borrowers and C4C colleagues.

4. Required Experience & Certifications

  • Bachelor’s degree or equivalent experience in relevant field, i.e. real estate, finance, or urban planning.
  • Preferred, minimum one year of loan underwriting experience at a CDFI, bank or other financial institution related to affordable housing development, and commercial and housing real estate construction. Comparable experience in affordable housing/real estate development may be substituted.
  • Knowledge of and experience with public and private sector funding sources for affordable housing and community development activities

5. Location

  • This position is currently located in New Haven, CT but will relocate to Wallingford, CT in June 2019.