Multi-family Real Estate Underwriter - Req. 1900752
The #1 For-Profit Syndicator in the Low Income Housing Tax Credit Funds (LIHTC) industry, Raymond James Tax Credit Funds (RJTCF) is hiring an entry to mid-level Multi-family Real Estate Underwriter to conduct deal analysis and due diligence on low income tax credit housing projects.
Limited guidance is provided to perform varied work that is somewhat difficult in character requiring evaluation, originality and ingenuity to make moderately complex decisions, process information in a timely manner, and operate within a team environment.
Essential Duties and Responsibilities:
- Reviews standard real estate documentation for consistency with RJTCF's requirements and property specific investment criteria.
- Reviews and updates financial projections to reflect actual property performance.
- Reviews property financial statements, tax returns, cost certifications and low income housing tax credit (LIHTC) specific documentation.
- Reviews legal documents/memorandums and performs other "due diligence" procedures in connection with the property.
- Reviews, approves, and processes requests for capital contributions to property specific partnerships. In certain circumstances, may approve certain requested without direction or approval from management.
- May also conduct ESA reviews, audit financial projects, maintain master financial projects, and conduct property acquisition analysis.
- Performs other advanced duties and responsibilities as assigned.
Knowledge, Skills, and Abilities:
- Company's working structure, policies, mission, and strategies.
- Fundamental concepts, principles and practices of LIHTC.
- Fundamental concepts, principles and practices of the real estate industry.
- Principles of banking and finance industry operations.
- Reviewing standard real estate documentation including financial projections, loan documents, various legal memorandums, draw requests, rent rolls, property financial statements, and certificates of occupancy/building permits.
- Reading and understanding real estate and LIHTC specific documentation.
- Real estate financial projections.
- Operating standard office equipment and using required software application to produce correspondence, reports, electronic communication, and spreadsheets.
- Communicate effectively both oral and written.
- With limited to no guidance, organize, manage and track multiple detailed tasks and assignments with frequently changing priorities in a fast-paced work environment to meet required results.
- Provide accurate and high quality work product in a timely manner.
- Proactively demonstrate readiness and ability to initiate action.
- Compile data from multiple sources, review, and accurately input into various spreadsheets and database.
- With limited to no guidance, work independently as well as collaboratively within a positive team environment.
- With limited to no guidance, identify required tasks, develop timelines and execute.
- Project a positive, professional image both internal and with external business contacts.
- Convey information clearly and effectively through both formal and informal documents.
- Identify relationships, draw logical conclusions and interpret results for use in decision making.
Educational/Previous Experience Requirements:
- Bachelor's Degree (B.A.) in business, finance, accounting or related field and a minimum of two (2) years of real estate experience
- Any equivalent combination of experience, education, and/or training approved by Human Resources.
- None required.
For more information about Raymond James Tax Credit Funds, please visit:
About Raymond James Tax Credit Funds:
Raymond James Tax Credit Funds is a leading provider of high-quality affordable housing developments throughout the nation.
Since the tax credit program began in 1986, we have raised more than $6 billion in equity for more than 1,700 properties throughout the United States. Each of our funds has been successful in delivering its projected tax benefits. Furthermore, RJTCF has never had a credit recapture to date. Our portfolio boasts an average occupancy of nearly 95%, and our ratio of underperforming assets is about half that of the industry averages.*
Our focus on the quality of our development partners, specific market expertise and comprehensive due diligence have earned us recognition as a leader in the affordable housing industry.
At Raymond James, Service 1stSM is our commitment – our clients come first, and we will provide the highest level of service with integrity. This approach has allowed RJTCF to retain our development partners and maintain a stable group of investors that have partnered with RJTCF year after year.