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What We Do
With residents and partners, LISC forges resilient and inclusive communities of opportunity across America - great places to live, work, visit, do business and raise families.
Strategies We Pursue
- Equip talent in underinvested communities with the skills and credentials to compete successfully for quality income and wealth opportunities.
- Invest in businesses, housing and other community infrastructure to catalyze economic, health, safety and educational mobility for individuals and communities.
- Strengthen existing alliances while building new collaborations to increase our impact on the progress of people and places.
- Develop leadership and the capacity of partners to advance our work together.
- Drive local, regional, and national policy and system changes that foster broadly shared prosperity and well-being.
Since 1979, LISC and its affiliates have invested approximately $29.7 billion in businesses, affordable housing, health, educational mobility, community and recreational facilities, public safety, employment, and other projects that help to revitalize and stabilize underinvested communities. Headquartered in New York City, LISC's reach spans the country from East coast to West coast in 38 markets with offices extending from Buffalo to San Franciscoand in 2,400 rural counties across 49 states and Puerto Rico.Visit us at
JOB OVERVIEW:
A core function of LISC is its operation as a loan fund. LISC provides various loan products to a wide array or project types. All loans are subject to oversight by LISC's Lending Department. In 2023, LISC closed $257 million of new, core loan commitments and the outstanding loan portfolio at year-end was $683 million.
Position Description
LISC is seeking a qualified candidate for a National Underwriter. This position will be part of LISC's Lending Department and will report to LISC's Vice President, National Underwriting. The National Underwriter will provide technical assistance and direct underwriting support to local Program Officers and serve as primary underwriter for a set of national and regional borrowers that operate in multiple LISC markets. The National Underwriter will have deep knowledge of public and private resources available to leverage LISC's investment and will provide support to strategically deploy LISC's full array of financing products.
Responsibilities:
- Screen, structure and underwrite financing requests including analyzing operating performance, historical and projected financial performance, management capacity, organizational structure, and project feasibility for housing, commercial, and mixed-use projects at various stages of development.
- Provide support to local LISC staff on project-specific analysis, deal structuring assistance and underwriting.
- Support the deployment of national public and private funding sources in support of LISC's community development mission.
- Collaborate with internal and external parties (banks, co-lenders, attorneys, etc.) to structure financings including managing intercreditor negotiations; reviewing real estate contracts, leases and due diligence; and identifying and negotiating key risks and mitigants including reserves, guarantees and other forms of credit enhancement.
- Present loan recommendations for credit approval and manage the closing process with in-house and external counsel.
- Provide technical assistance to internal LISC staff on project planning, development models and financing options.
- Coordinate internal and external relationships that are critical to growth of the LISC loan portfolio.
- Review and decision loan intakes as assigned.
- Support and work with LISC management to develop strategic collaborations with public sector agencies at the local, state and federals levels that leverages LISC's capabilities and national platform.
- Participate in training and continuous improvement efforts.
- Perform all other duties as assigned.
Qualifications:
- Bachelor's degree from an accredited college or university in business, finance, real estate or related fields. Relevant experience may be considered as a proxy. Master's degree preferred.
- Minimum 5 years of professional experience in housing and community development and/or multifamily real estate development is preferred, including project financing, market analysis, deal structuring, and financial analysis.
- Demonstrated ability to manage multiple transactions at various stages and coordinate with multiple internal and external parties to meet approval and closing deadlines.
- Strong working knowledge of MS Office Suite programs in particular MS Excel and Word.
- Deep knowledge of and experience with community development financing preferred including but not limited to tax credits (low-income housing, historic, and new market); tax-exempt bonds; and federal, state and city subsidy programs.
- Knowledge of and experience with key concepts related to the overlap of environmental sustainability and community development, including the requirements of the GGRF and various green building standards.
- Strong verbal and written communication skills.
- Ability to work both independently and collaboratively.
- Highly detail-oriented and ability to convey complex information clearly and concisely.
- Demonstrated interest in LISC's community development mission.
Compensation
LISC offers a competitive salary ($102,000 - $127,500); salary commensurate with relevant work experience and location) and excellent fringe benefits
Actual salaries may be based on several factors including, but not limited to, a candidate's skill set, experience, education, work location and other qualifications.
LISC is an equal opportunity employer. LISC does not discriminate in employment on account of actual or perceived race, color, creed, religion, national origin, ancestry, citizenship status, age, sex or gender (including pregnancy, childbirth, lactation and related medical conditions), gender identity or expression (including transgender status), sexual orientation, marital status, military status or veteran status, unfavorable discharge from military service, physical or mental disability, protected medical condition as defined by applicable state or local law, genetic information or any other characteristic protected by applicable federal, state or local laws and ordinances.
We will endeavor to make a reasonable accommodation to the known physical or mental limitations of a qualified applicant with a disability unless the accommodation would impose an undue hardship on the operation of our business.
LISC IS AN EQUAL OPPORTUNITY EMPLOYER COMMITTED TO DIVERSITY, EQUITY, INCLUSION AND JUSTICE