Job Summary: A Loan Underwriter evaluates and structures loan transactions and assesses the associated risks and mitigants for affordable housing and community development loans. Generally, this includes ensuring that the proposed loan is sound, that it is appropriately secured by real estate or other collateral, that it meets underwriting guidelines, that the loan can be repaid, and that it will provide positive financial and social impacts as underwritten.

Essential Duties and Responsibilities:

  1. Underwrites and closes affordable housing and community development loans.
  2. Prepares and analyzes routine to moderately complex property level pro forma cash flow statements and financial models.
  3. Prepares property valuations to properly size loan request.
  4. Assesses borrower and guarantor financial statements including review and analysis of financial statements, real estate schedules, tax returns, and cash flow statements.
  5. Assesses the financial strength and capacity of the project or development team.
  6. Assesses the real estate market where the proposed investment will be located.
  7. Assesses validity of operating expense assumptions by using comparable data from Cinnaire portfolio, appraisal, and data provided by the developer and/or management agent.
  8. Identifies factors of the proposed loan that differ from standard underwriting criteria.
  9. Performs site due diligence visits as needed.
  10. Effectively communicates credit issues to the Director, Underwriting.
  11. Identifies potential structural enhancements in order to improve credit and reduce risk.
  12. Updates loan information in pipeline management system.
  13. Prepares loan reports and presents the proposed loan to the loan committee.
  14. Oversees the collection and review of due diligence documents with Cinnaire counsel and Analyst, and reviews pertinent documents affecting loan feasibility.
  15. Participates in orientation meetings, as requested, on closed and transitioned loans.
  16. Participates in industry activities, including industry conferences, trade shows, education opportunities, and other events that benefit Cinnaire business relationships.
  17. Maintains business relationships with investors, CDFIs, developers, accountants, attorneys, consultants, property managers, housing finance agencies, lenders, and any other related parties.

Qualifications and Skills:

  • Bachelor’s Degree in Finance, Accounting, Economics, Business, or Real Estate/Urban Planning. Course work in real estate preferred.
  • Strong Microsoft Suite skills are required.
  • Previous experience with underwriting and/or structuring real estate, affordable housing, or community development loan transactions required.
  • Ability to model financial investments including expected cash flow and return on investment.
  • Excellent communication, organizational and interpersonal skills.
  • The ability to work under tight deadlines, manage priorities, and complete assigned tasks with minimal oversight.
  • Keen analytical skills and attention to detail.


  • Analysis to Synthesis: Interprets data and information from multiple sources and translates it into coherent messages that inform decisions.
  • Intellectual Agility: Can flex and adapt thinking skills to meet the needs of different situations and circumstances. Doesn’t limit problem solving to one approach or methodology.
  • Perseverance: Accepts uncertainty by remaining focused and engaged on assignments. Looks for plausible solutions to difficult problems.
  • Insight to Action: Acts on conviction and advances from concept to implementation toward a goal. Draws upon knowledge and professional judgement to orchestrate the steps required to get results.

Reporting Relationship: Reports to Director, Loan Underwriting

Supervisory Relationship: None

Physical Requirements:

  • Ability to work on a computer for extended periods of time.

Travel Required: 20%