Underwriter - NeighborWorks Capital
Sate Housing Finance Agencies (HFAs), Silver Spring, MD, United States
Summary
The Underwriter plays a critical role in supporting new loan originations by evaluating applications and assessing the risks of proposed transactions. This position involves reviewing borrower financials, project information, market data, and third‑party reports, and contributes substantially to the preparation of materials required for loan approval. Depending on the assignment, the role may include direct customer engagement.
Reports to: Chief Lending & Customer Engagement Officer
This position can be remote, but requires willingness to travel to Silver Spring, MD on occasion for staff meetings and events.
Responsibilities
Conduct initial analysis of applicant creditworthiness (board, management, line‑of‑business, development and asset management policies and procedures) and financial capacity, identifying key risks to guide underwriting decisions.
Manage the due diligence checklist, ensuring all required documentation is collected, complete, and compliant with underwriting standards.
Review borrower information, including historical financials, portfolio performance, development track record, and management capacity.
Analyze proposed project details such as sources and uses, operating proformas, zoning and land entitlements, third‑party reports, agreements, and leases.
Verify availability and reliability of other funding sources (e.g., LIHTC investments, permanent loan take‑outs) and assess associated risks.
Evaluate the capacity of construction teams, and other development partners as applicable.
Make sound underwriting recommendations within established guidelines and clearly document and justify any policy exceptions.
Collaborate with loan officers to prepare turnkey written credit memoranda and assemble complete credit approval packages.
Participate in loan committee meetings and other approval processes, responding to questions and following up on outstanding items.
Develop and maintain standardized underwriting tools, including financial models, templates, and data presentation formats.
Required Experience The ideal candidate will bring:
5-10 years of experience in real estate lending, credit analysis, or underwriting.
Bachelor’s degree in finance, business, real estate, economics, urban planning, or a related field; equivalent relevant work experience may be considered.
Proven ability to analyze complex financial statements and structures. Formal credit training is preferred.
Strong skills in developing, manipulating, and explaining financial models.
Strong analytical skills with the ability to interpret financial and market data and translate findings into actionable recommendations regarding loan terms and requirements.
Knowledge of affordable housing finance, nonprofit real estate development, and federal/state subsidy programs serving urban and rural areas.
Excellent written and verbal communication skills, with ability to convey complex information clearly.
Highly organized, with proven ability to manage multiple priorities and meet deadlines.
Exceptional attention to detail and commitment to accuracy.
Experience engaging with external customers and stakeholders in a professional manner.
Proficiency in Salesforce and Microsoft Office Suite, with advanced Excel skills.
Compensation range $110,000 to $130,000 depending on experience plus excellent employer‑paid benefits package that includes medical, dental, vision, 12 paid holidays, generous PTO & sick leave, life insurance, disability, 6% contribution of eligible salary to 401(k), transportation subsidy, matching contribution plan to eligible nonprofits, and bonus potential.
About NeighborWorks Capital NeighborWorks Capital is a national non‑profit, certified Community Development Financial Institution (CDFI) serving NeighborWorks America network organizations, nearly 250 strong, capable non‑profit housing and community development organizations in every state, District of Columbia, and Puerto Rico. These organizations provide communities with affordable housing, financial counseling, training, and resident engagement in the areas of housing, health, employment, and education.
NeighborWorks Capital’s current capitalization is nearly $200 million with more than $100 million in loans outstanding nationwide. Since its inception, NeighborWorks Capital has deployed over $570 million in loan capital to support the NeighborWorks network. S&P Global Ratings has assigned NeighborWorks Capital an issuer credit rating of “A+/Positive,” citing strong capital adequacy, profitability, liquidity, and financial management. NeighborWorks Capital has been Aeris‑rated since 2011 and currently holds a four‑star Impact Management rating as well as an AA Financial Strength and Performance Rating, indicating robust financial capability and risk management.
NeighborWorks Capital is an Equal Opportunity Employer. It is NeighborWorks Capital’s commitment to treat all its employees and candidates for employment with dignity and respect and to provide a workplace that is free from discrimination, whether that discrimination is based on race, color, religion, sex, national origin, disability, political affiliation, marital status, membership in an employee organization, age, sexual orientation, gender identity, pregnancy, or other non‑merit factors.
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Reports to: Chief Lending & Customer Engagement Officer
This position can be remote, but requires willingness to travel to Silver Spring, MD on occasion for staff meetings and events.
Responsibilities
Conduct initial analysis of applicant creditworthiness (board, management, line‑of‑business, development and asset management policies and procedures) and financial capacity, identifying key risks to guide underwriting decisions.
Manage the due diligence checklist, ensuring all required documentation is collected, complete, and compliant with underwriting standards.
Review borrower information, including historical financials, portfolio performance, development track record, and management capacity.
Analyze proposed project details such as sources and uses, operating proformas, zoning and land entitlements, third‑party reports, agreements, and leases.
Verify availability and reliability of other funding sources (e.g., LIHTC investments, permanent loan take‑outs) and assess associated risks.
Evaluate the capacity of construction teams, and other development partners as applicable.
Make sound underwriting recommendations within established guidelines and clearly document and justify any policy exceptions.
Collaborate with loan officers to prepare turnkey written credit memoranda and assemble complete credit approval packages.
Participate in loan committee meetings and other approval processes, responding to questions and following up on outstanding items.
Develop and maintain standardized underwriting tools, including financial models, templates, and data presentation formats.
Required Experience The ideal candidate will bring:
5-10 years of experience in real estate lending, credit analysis, or underwriting.
Bachelor’s degree in finance, business, real estate, economics, urban planning, or a related field; equivalent relevant work experience may be considered.
Proven ability to analyze complex financial statements and structures. Formal credit training is preferred.
Strong skills in developing, manipulating, and explaining financial models.
Strong analytical skills with the ability to interpret financial and market data and translate findings into actionable recommendations regarding loan terms and requirements.
Knowledge of affordable housing finance, nonprofit real estate development, and federal/state subsidy programs serving urban and rural areas.
Excellent written and verbal communication skills, with ability to convey complex information clearly.
Highly organized, with proven ability to manage multiple priorities and meet deadlines.
Exceptional attention to detail and commitment to accuracy.
Experience engaging with external customers and stakeholders in a professional manner.
Proficiency in Salesforce and Microsoft Office Suite, with advanced Excel skills.
Compensation range $110,000 to $130,000 depending on experience plus excellent employer‑paid benefits package that includes medical, dental, vision, 12 paid holidays, generous PTO & sick leave, life insurance, disability, 6% contribution of eligible salary to 401(k), transportation subsidy, matching contribution plan to eligible nonprofits, and bonus potential.
About NeighborWorks Capital NeighborWorks Capital is a national non‑profit, certified Community Development Financial Institution (CDFI) serving NeighborWorks America network organizations, nearly 250 strong, capable non‑profit housing and community development organizations in every state, District of Columbia, and Puerto Rico. These organizations provide communities with affordable housing, financial counseling, training, and resident engagement in the areas of housing, health, employment, and education.
NeighborWorks Capital’s current capitalization is nearly $200 million with more than $100 million in loans outstanding nationwide. Since its inception, NeighborWorks Capital has deployed over $570 million in loan capital to support the NeighborWorks network. S&P Global Ratings has assigned NeighborWorks Capital an issuer credit rating of “A+/Positive,” citing strong capital adequacy, profitability, liquidity, and financial management. NeighborWorks Capital has been Aeris‑rated since 2011 and currently holds a four‑star Impact Management rating as well as an AA Financial Strength and Performance Rating, indicating robust financial capability and risk management.
NeighborWorks Capital is an Equal Opportunity Employer. It is NeighborWorks Capital’s commitment to treat all its employees and candidates for employment with dignity and respect and to provide a workplace that is free from discrimination, whether that discrimination is based on race, color, religion, sex, national origin, disability, political affiliation, marital status, membership in an employee organization, age, sexual orientation, gender identity, pregnancy, or other non‑merit factors.
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