The Opportunity *this is a full time remote position that can sit anywhere in the U.S.*
Berkadia Affordable Tax Credit Solutions, a division of one of the nation’s largest real estate firms, seeks a full-time real estate Senior Underwriter. The selected candidate will use specialized knowledge and skills obtained through training, education, and experience to oversee the analysis and underwriting of proposed multi-family real estate investments that qualify for low-income housing tax credits and will support the Acquisitions teams to take investments through the acquisitions process from proposal letter to closing. The Senior Underwriter will report to the Head of Underwriting and be encouraged to lead, contribute and generate ideas during the transaction process within a team environment.
- Ensure high quality and timely completion and review of due diligence including but not limited to market studies, operating expenses, loan documents, plan and cost reviews, environmental reports, and sponsor/guarantor analysis.
- Complete comprehensive credit approval packages.
- Present credit approval packages to Berkadia Affordable Tax Credit Solutions Investment Committee.
- Complete financial modeling and model updates.
- Perform site inspection due diligence to evaluate market competitiveness of the proposed collateral and to determine economic feasibility of the projected income stream.
- Serve as the primary contact for legal counsel during underwriting to ensure projects are meeting Berkadia Affordable Tax Credit Solutions policies and procedures as well as LIHTC guidelines.
- Identify and elevate issues that warrant additional investigation or may cause a delay in approval or closing.
- Interact with asset management, accounting, investor relations and acquisitions departments as well as developer and investor clients to ensure timely, efficient, and thorough servicing and closing of transactions.
- Manage client and vendor relationships.
- Coordinate special/new projects as assigned/appropriate.
- Other duties as assigned.
What you will need to be successful in this role
- Detailed knowledge of commercial real estate underwriting, including the development of cash flow forecasts and pricing metrics.
- Ability to work in a fast-paced environment and move quickly through assignments to ensure deadlines are met.
- Excellent oral and written communication skills.
- Must be proficient in MS Office Suite.
- Bachelor’s degree or equivalent
- Five to seven years prior experience in a similar position.
Source: Berkadia Career Page
Berkadia, a joint venture of Berkshire Hathaway and Leucadia National Corporation, offers mortgage banking, investment sales and loan servicing offerings to multifamily and commercial property owners in the United States. With over 1,300 experienced industry professionals operating out of 75 offices in primary and secondary market across the United States, Berkadia is one of the largest multifamily services firms in the country.
The company's 100% focus on the real estate multifamily sector differentiates it from its peers and has allowed it to excel at its core competency, namely providing industry-best investment sales advisory, debt placement, structured finance, private equity, and apartment advisory services.