Lead Commercial Real Estate Origination Specialist
Wells Fargo, Los Angeles, CA, United States
Senior Lead Commercial Real Estate Origination Specialist
Wells Fargo is seeking a Senior Lead Commercial Real Estate Origination Specialist for Low-Income Housing Tax Credit (LIHTC) equity and debt origination and underwriting. In this role: Assemble Excel LIHTC financial models that identify the projected financial performance of an asset, and underwriting risks associated with demand, supply, income, expenses, and financing. Assess the proper financing structures, tax consequences, and returns of potential equity investments and debt, understanding the various loan programs, state regulations, and compliance requirements of IRC Section 42. Prepare equity and debt term sheets. Prepare underwriting memorandums and recommendations for credit approval. Analyze an affordable housing developer's financial position and operational strengths and weaknesses, including leverage, key risk factors, projected income, repayment sources, cash flow, liquidity, net worth, and ability to service debt. Analyze project-level due diligence, including loan documentation, partnership agreements, appraisals, market studies, development budgets, construction reports, etc. Assist the negotiation of a partnership agreement, debt documents, and project documents related to the closing of a LIHTC transaction. Participate in property tours and site visits to develop a deeper understanding of the real estate transaction and market and foster client relationships. Work in a team environment that will require effective coordination and communication with the customer, internal closing teams, internal debt partners, risk management, and asset management. Required Qualifications: 5+ years of Commercial Real Estate Origination experience, or equivalent demonstrated through one or a combination of the following: work experience, training, military experience, education Desired Qualifications: 5+ years of commercial real estate experience, 5+ of which to include a focus LIHTC LIHTC multifamily real estate underwriting experience Familiarity with State of California and local affordable housing program and regulations Intermediate Microsoft Excel skills, including high level of proficiency in Excel LIHTC financial modeling A BS/BA degree or higher in business, finance, real estate, accounting or a related field Ability to help develop and maintain strong client relationships Ability to productively participate in the underwriting and closing of LIHTC transactions Ability to interact effectively and confidently with senior management and credit Excellent verbal, written, and interpersonal communication skills Outstanding problem solving and decision-making skills Ability to work in a fast-paced deadline driven environment High level of responsibility, initiative, and accountability Job Expectations: Ability to travel up to 10% of the time Ability to work outside of regular business hours Willing to work in the posted locations: 333 Market St San Francisco, CA or 333 S Grand Ave Los Angeles, CA Pay Range: Reflected is the base pay range offered for this position. Pay may vary depending on factors including but not limited to demonstrated examples of prior performance, skills, experience, or work location. Employees may also be eligible for incentive opportunities. $191,000.00 - $305,000.00
Wells Fargo is seeking a Senior Lead Commercial Real Estate Origination Specialist for Low-Income Housing Tax Credit (LIHTC) equity and debt origination and underwriting. In this role: Assemble Excel LIHTC financial models that identify the projected financial performance of an asset, and underwriting risks associated with demand, supply, income, expenses, and financing. Assess the proper financing structures, tax consequences, and returns of potential equity investments and debt, understanding the various loan programs, state regulations, and compliance requirements of IRC Section 42. Prepare equity and debt term sheets. Prepare underwriting memorandums and recommendations for credit approval. Analyze an affordable housing developer's financial position and operational strengths and weaknesses, including leverage, key risk factors, projected income, repayment sources, cash flow, liquidity, net worth, and ability to service debt. Analyze project-level due diligence, including loan documentation, partnership agreements, appraisals, market studies, development budgets, construction reports, etc. Assist the negotiation of a partnership agreement, debt documents, and project documents related to the closing of a LIHTC transaction. Participate in property tours and site visits to develop a deeper understanding of the real estate transaction and market and foster client relationships. Work in a team environment that will require effective coordination and communication with the customer, internal closing teams, internal debt partners, risk management, and asset management. Required Qualifications: 5+ years of Commercial Real Estate Origination experience, or equivalent demonstrated through one or a combination of the following: work experience, training, military experience, education Desired Qualifications: 5+ years of commercial real estate experience, 5+ of which to include a focus LIHTC LIHTC multifamily real estate underwriting experience Familiarity with State of California and local affordable housing program and regulations Intermediate Microsoft Excel skills, including high level of proficiency in Excel LIHTC financial modeling A BS/BA degree or higher in business, finance, real estate, accounting or a related field Ability to help develop and maintain strong client relationships Ability to productively participate in the underwriting and closing of LIHTC transactions Ability to interact effectively and confidently with senior management and credit Excellent verbal, written, and interpersonal communication skills Outstanding problem solving and decision-making skills Ability to work in a fast-paced deadline driven environment High level of responsibility, initiative, and accountability Job Expectations: Ability to travel up to 10% of the time Ability to work outside of regular business hours Willing to work in the posted locations: 333 Market St San Francisco, CA or 333 S Grand Ave Los Angeles, CA Pay Range: Reflected is the base pay range offered for this position. Pay may vary depending on factors including but not limited to demonstrated examples of prior performance, skills, experience, or work location. Employees may also be eligible for incentive opportunities. $191,000.00 - $305,000.00