Senior Affordable Housing Underwriter

Century Housing Corporation is a mission-driven Community Development Financial Institution (CDFI) supporting quality affordable home development throughout California. With offices in Culver City, Long Beach, and San Francisco, Century provides innovative end-to-end financing from predevelopment to permanent loans. Century also serves as a reliable partner to state and local agencies, municipalities

We are looking for Underwriting talent to join our Lending Team. Our employees have voted us one of the best nonprofits to work for.

General Summary

Under the direction of the Senior Vice President, Lending, the incumbent is responsible for evaluating the creditworthiness and capabilities of the borrower/guarantor, the real estate collateral securing the proposed loan, and the adequacy of the loan structure for transactions and/or relationships. The Underwriter is responsible for identifying and reporting any/all financial aspects (and changes during the process) of a proposed loan from origination through closing. Performs with a high degree of ethical standards. Frequent interaction with other lending staff, accounting, legal and other support personnel in the delivery of an excellent client experience, while minimizing Century’s risk exposure. The essential duties and responsibilities listed below are not intended to be all-inclusive:

Essential Duties and Responsibilities:

In support of the loan origination team, monitor loans from origination through the closing process assuring a positive and timely experience for Century clients as well as reducing Century’s costs for loan loss.

Underwrite multifamily developments to be financed in the future by take-out lenders with their proposed LIHTC, HUD, HAP/Section 8, tax-exempt bonds, FHA, and Fannie/Freddie financing.

Perform initial analysis evaluating the applicant’s creditworthiness and financial capacity.

As part of comprehensive due diligence, request market analysis as necessary and initiate the process for ordering third-party reports as needed. Review market analysis and appraisal to determine if the report accurately reflects the underwriter's knowledge of the property's operations and market position, as well as reconcile any differences.

Prepare reports, presentations, and documentation of underwriting including recommendations based on research for presentation to the Loan Committee or as directed by the Senior Vice President.

Periodically reassess financial health of borrower and/or investments, report and recommend as needed.

Maintain knowledge of surrounding market conditions, and report deficiencies/ irregularities as means of mitigating risk exposure with respect to all holdings.

Perform the underwriting and due diligence on potential investment opportunities as required.

Required Knowledge, Skills, and Abilities:

Superior ability to develop capital budgeting and related financial models requires expert-level knowledge of Excel data analysis tools. Confidence in the ability to generate and explain complex financial models.

Skilled in the use of Microsoft Office Suite, and Agiloft CRM.

Ability to work with loan officers, loan administration, accounting, and other support staff to deliver timely turnaround for Century clients. Teamwork and flexibility are required to be successful in this position.

Experienced in prioritizing and multitasking. Skilled in managing time, multiple demands, and competing priorities effectively to accomplish objectives.

Access to reliable transportation, current driver's license, and insurance, may work remotely as needed.

Ability to keep established hours of operation and maintain excellent work attendance.

Ability to travel locally on relatively short notice.

Education and Experience:

Bachelor's Degree in Business Administration with an emphasis in Finance or Real Estate with five years underwriting preferred. A combination of education and direct experience is considered.

Salary and Benefits:

Attractive compensation $150,000 - $185,000 annual salary with fully-paid family medical, dental, vision and life/AD&D, long-term disability , retirement plan with company match, paid time off, paid holidays, college tuition, professional development opportunities, and college loan repayment assistance available.

Job Location:

Culver City, California 90230 with some remote work opportunities. This is not an exclusively remote position.

How to Apply:

Apply here or call Fern Hendrickson, Vice President, Human Resources at (310) 642-2017 for further information. FAX (310) 258-0714. Easy apply here https://bit.ly/3xoFcWE

Our organization is an equal opportunity employer, and all qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender identity, national origin or veteran status.