The Community Development Trust (CDT), the nation’s first and only private real estate investment trust (REIT) dedicated to the preservation of affordable housing, is seeking to add a member to the Underwriting Department who is looking to make a commitment to community development.
POSITION TITLE: Underwriter
BASIC FUNCTION: The preferred candidate will support the transactional flow of the company’s debt and equity investments in affordable housing throughout the United States. A high degree of accuracy is required due to the short deadlines imposed by a competitive real estate marketplace. CDT encourages the submission of applications from more seasoned underwriters as well as those with the minimum requirements as described below.
REPORTS TO: Vice President Underwriting – Debt Transaction Manager
DUTIES AND DRESPONSIBILITIES: For a wide variety of rental housing and community development investment opportunities, the analyst will be responsible for:
- Evaluate transactions for credit risk.
- Preparation and presentation of debt and equity investment proposals including a comprehensive income and expense analysis.
- Review and evaluation of due diligence materials including third party reports, operating statements, rent rolls, loan documents, affordability regulatory agreements, ground leases, and borrower’s financial position.
- Perform extensive market research on both a regional and submarket basis.
- Update and refine financial models to reflect deal structure modifications on individual loans and/or portfolios, as needed.
- Provide professional and timely customer service to clients.
- Work with clients, internal staff, and legal counsel to effectively manage multiple transactions and move projects forward.
- Travel to all US markets to conduct property inspections as needed.
- Bachelor’s degree preferably in business, economics, or related field (Master’s degree a plus),
- Well-developed analytical and problem solving skills
- 2-5 years of relevant real estate experience preferably in multifamily/commercial real estate.
- Basic familiarity with loan closing documentation and requirements.
- Excellent presentation skills. Underwriter must be able to concisely present transactions to CDT’s internal committee for approval.
- Excellent Excel spreadsheet skills.
- Excellent organization skills with consistent attention to detail.
- Excellent written communication skills.
Base salary and annual performance bonus depending on experience. Excellent benefits package included upon eligibility.
CDT remains committed to equal employment opportunity for employees and candidates for employment.