Job Description
Job Description
Real Estate Analysis Division
GENERAL DESCRIPTION :
Creating affordable housing is challenging work, and TDHCA needs a team of dedicated underwriters to analyze the feasibility of complex real estate developments. TDHCA is seeking applicants with a passion for detailed financial analysis who want to make a lasting, positive impact on the lives of low-income Texans by helping to create high-quality affordable housing.
Underwrites multi-family real estate transactions seeking financing through the federally funded Housing Tax Credit program and other federally funded sources.
Performs highly complex (senior-level) consultative services and technical assistance. Work involves planning, developing, and implementing underwriting activities and providing consultative services and technical assistance to executive management, program staff, governmental agencies, community organizations, or the general public. Works under general supervision, with substantial latitude for the use of initiative and independent judgment.
SPECIFIC JOB RESPONSIBILITIES:
Performs financial feasibility analysis of real estate transactions and authors formal underwriting reports for use by the Department staff and Board of Directors. Feasibility analysis includes review of overall development plans, site development and entitlement, financial viability, design and construction, market conditions, valuation appraisals, environmental reports and other feasibility criteria outlined by Department rules. Report preparation will include independent determination of development cost estimates and operating pro formas.
Number of underwriting reports assigned and completed based upon a proportionate share of the Division's work load adjusting for deal complexity and other assigned tasks
Prepares and uses complex financial modeling spreadsheets.
Authors complex technical writings.
Helps develop and improve division processes to maintain quality and efficiency.
Attends, participates and reports on training conducted by various Department program areas or external related education sources
Option for hybrid work environment. Required in office at least 3 days a week during initial on-the-job training phase, estimated at 3-6 months. Thereafter, less days in the office may be available based on individual performance and training needs. Underwriter will be required to be present in the Austin office or at other designated work events, venues, or trainings, as needed.
Qualifications:
EDUCATION/EXPERIENCE: Graduation from an accredited four-year college or university with major course work in finance, accounting, economics, mathematics or other degree related to real estate finance or development. Experience in multifamily and/or affordable housing a plus. Completion of a credit-training program with a financial institution or housing finance agency, or three years credit underwriting and/or mortgage lending experience with commercial and/or multi-family programs preferred.
KNOWLEDGE, SKILLS AND ABILITIES: Strong numerical and financial analysis experience.
Self-sufficient computer skills including at a minimum Microsoft Office Suite.
Strong Microsoft Excel skills required; must be self-sufficient in Excel.
Strong verbal and written communication skills; internal and external clients.
Comfortable working with a team in a remote environment.
Comfortable with on-the-job training.
Ability to remain flexible in a fast-paced environment.
PHYSICAL REQUIREMENTS: This classification functions in a standard office environment. Ability to drive and travel as needed. Will need to move about the office to access file cabinets, use office machinery, attend meetings in various offices and conference rooms, etc. Must be able to communicate and exchange accurate information via phone, computer, and in person. Must be able to observe and evaluate data in a variety of formats, including hard copy, electronic, and various media formats. Must be able to work non-standard hours including the ability to work beyond 40 hours per week as needed and in compliance with the FLSA.
The employee must be able to lift and/or carry up to 10 pounds. Must be able to push and/or pull up to 10 lbs
OTHER :
Must be willing to work in a non-smoking environment and adhere to all applicable Department policies and procedures. Must be willing to work overtime if necessary which may include nights and weekends. Must attend work regularly and adhere to approved work schedule.
IMPORTANT INFORMATION FOR THE CANDIDATE:
- Official transcripts or other minimum requirement validations will be requested of final applicants.
- Criminal background checks will be conducted before an offer of employment is extended.
We fully recognize, honor and enforce the Uniformed Services Employment and Reemployment Rights Act (USERRA) and encourage opportunities to hire Veterans, Reservists and Guardsmen.
Males born on or after January 1, 1960, between the ages of 18-26, will be required to present proof of Selective Service System registration on the first day of employment or proof of exemption from Selective Service registration requirement.
The U.S. Immigration Reform and Control Act of 1986 requires new employees to present proof of identity and eligibility to work in the United States. Failure to provide this information within the required timeframe will result in the offer being rescinded.
Thank you for considering employment at the Texas Department of Housing and Community Affairs! The Texas Department of Housing and Community Affairs is an Equal Employment Opportunity employer. CAPPS, Inc.
Job Tags
Remote job, Flexible hours, Night shift, 3 days per week,