Multifamily Underwriter - MaineHousing - Augusta, ME |
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Multifamily Underwriter

MaineHousing | Augusta, ME

The Employer has temporarily removed this posting

Primary Purpose of Position:  Financial underwriting and production of affordable multifamily rental housing through MaineHousing programs.

Education and Experience:  Bachelor’s degree and a minimum of two years of experience in a related field such as lending, financial analysis, budgeting, or accounting or the combination of education and experience preferred. 

Certifications and Licenses:  Must have previously completed, or be willing to complete within two years (at MaineHousing’s expense), the Rental Housing Development Finance Professional Certification Program™ with the National Development Council.

Core Functions:

  •  Multifamily real estate underwriting
    • Determine project feasibility and ensure compliance with programmatic requirements
    • Evaluate appropriateness of funding sources and uses
    • Evaluate risk of operating budgets, rent structure, and income
    • Create, review, and update complex project development pro formas
    • Assign financial resources based upon project requirements and program restraints
    • Have understanding of non-MaineHousing financing sources
    • Determine owner entity, principals, and affiliates’ eligibility and ability to effectively manage, finance, and operate projects by ordering and analyzing organizational documents, credit reports, financial statements, and other documentation
  • Lead development underwriting team
    • Act as primary point of contact for external parties such as developers, architects, engineers, syndicators, and bankers
    • Coordinate MaineHousing underwriting team including Construction Analysts, Asset Managers, and Attorneys
    • Manage partner relationships and provide excellent customer service through thoughtful and timely communications, and scheduling meetings as needed
    • Drive development timeline and keep all related parties on track and informed
    • Disseminate technical information about physical design, environmental concerns, and accessibility requirements
  • Provide education and technical expertise to external partners    
    • Advise on MaineHousing’s funding sources, programmatic requirements, and internal process
    • Assist with deal structuring and “shaping” the project
  • Order and review third party reports such as market studies, appraisals, Phase I ESAs, and capital needs assessments as needed
    • Determine if and when reports are required
    • Verify report assumptions and reasonableness
    • Request additional information, revisions, and/or updates as necessary
  •  Determine compliance with state and federal regulations and requirements
    • Read, interpret, and apply rules pertaining to a variety of government programs and funding sources
    • Disseminate findings to development team members
  • Prepare and present complex project summaries and recommendations
    • Perform risk assessment of project summarizing essential project details, substantive risks, and the mitigation for those risks
    • Prepare written reports with recommendations for team and loan committee review
    • Make oral presentations to MaineHousing Loan Committee justifying decisions
  • Participate in program design, review, and continuous improvement activities
  • Assist with scoring of applications for competitive funding rounds
  • Other duties as assigned
    Skills and Knowledge: 
  • Knowledge of tax credits (preferably the Low Income Housing Tax Credit (LIHTC) program)
  • Familiarity with HUD housing programs
  • Ability to take initiative, work independently, and use creativity and analytical skills to resolve complex issues among multiple parties
  • Strong financial analysis skills
  • Strong PC skills using various software – MSOffice Suite, ShareFile/SharePoint, Windows, internet browsers
  • Ability to establish and maintain good working relationships with business partners
  • Excellent communication skills – speaking, writing, and listening via phone, email, and in-person meetings
  • Ability to communicate effectively in front of groups

The starting hourly rate for this position is $27.67, plus a comprehensive benefits package.  Please visit our website to learn more:

Posted On: 2019-03-14 08:45:13
Closing Date: Open Until Filled
Telecommute: No
Categories: Banking, Finance
Job Type: Regular
Job Status: Full Time
Pay Type: Hourly Wage
Similar Jobs: Within 25 miles of 04330, Banking, Finance

Additional Contact Info

353 Water Street
Augusta, Maine 04330
Contact: Human Resources Department