Vice President of Underwriting (LIHTC Equity)
Specialty Consultants Inc., Columbus, OH, United States
SCI, the Leader in Real Estate Executive Search®, is seeking a
Vice President of Underwriting
to join a national affordable housing finance company specializing in LIHTC equity investments that has raised over $500 million in tax credit equity through proprietary and multi-investor funds.
About the Role The Vice President of Underwriting will evaluate and structure Low Income Housing Tax Credit (LIHTC) equity investments across the Company's fund platform. You'll own transactions from initial analysis through closing, working closely with senior management, legal counsel, developers, and investors to deploy capital into affordable housing communities nationwide.
What You'll Do Underwriting & Analysis
Drive end-to-end underwriting of LIHTC equity investments — including sponsor/guarantor financial capacity, market and location analysis, sources and uses, capital structure, capital account, residual analysis, and operating proformas. Apply deep working knowledge of IRC Sections 42 and 47, fund-specific Investment Guidelines, and Investor Side Letter requirements throughout. Due Diligence
Review LOIs, loan documents, and Limited Partnership Agreements; conduct on-site project visits as needed; and flag issues that could affect closing timelines or credit quality. Investment Committee Reporting
Prepare clear, well-supported investment committee memos — narrative analysis, financial tables, and balanced assessments of credit strengths and risks — and present operating expense proformas benchmarked against comparable projects. Transaction Management
Quarterback deals through the Company's internal process with urgency and professionalism. Maintain open lines of communication with developers, lenders, and investors to foster long-term relationships and repeat business. Closing & Transition
Collaborate with the LIHTC financing team and outside counsel on Lower Tier closings, including final loan document review for LPA consistency. Organize closed deal files and hand off to Asset Management; monitor construction progress and lease-up. Policy & Process
Partner with Fund Management to review and update the Company's Underwriting Handbook annually, incorporating changes in tax law, HUD/USDA programs, LIHTC industry standards, and investor requirements.
What You Bring Bachelor's degree in finance, real estate, economics, business, or a related field 7+ years of LIHTC underwriting and real estate credit analysis experience Hands-on experience with LIHTC equity investments and/or affordable housing lending Familiarity with state and federal housing programs a strong plus (HUD/FHA, USDA/RD, Section 8 HAP, HCV, RAD, CDBG, HOME, Choice Neighborhoods, etc.) Advanced Excel skills and financial modeling ability; proficiency across the Microsoft Office suite Strong written communication skills — you can write a tight credit memo and edit others' work Genuine commitment to affordable housing and community development A problem-solver's mindset: organized, proactive, and comfortable managing a busy transaction pipeline
Vice President of Underwriting
to join a national affordable housing finance company specializing in LIHTC equity investments that has raised over $500 million in tax credit equity through proprietary and multi-investor funds.
About the Role The Vice President of Underwriting will evaluate and structure Low Income Housing Tax Credit (LIHTC) equity investments across the Company's fund platform. You'll own transactions from initial analysis through closing, working closely with senior management, legal counsel, developers, and investors to deploy capital into affordable housing communities nationwide.
What You'll Do Underwriting & Analysis
Drive end-to-end underwriting of LIHTC equity investments — including sponsor/guarantor financial capacity, market and location analysis, sources and uses, capital structure, capital account, residual analysis, and operating proformas. Apply deep working knowledge of IRC Sections 42 and 47, fund-specific Investment Guidelines, and Investor Side Letter requirements throughout. Due Diligence
Review LOIs, loan documents, and Limited Partnership Agreements; conduct on-site project visits as needed; and flag issues that could affect closing timelines or credit quality. Investment Committee Reporting
Prepare clear, well-supported investment committee memos — narrative analysis, financial tables, and balanced assessments of credit strengths and risks — and present operating expense proformas benchmarked against comparable projects. Transaction Management
Quarterback deals through the Company's internal process with urgency and professionalism. Maintain open lines of communication with developers, lenders, and investors to foster long-term relationships and repeat business. Closing & Transition
Collaborate with the LIHTC financing team and outside counsel on Lower Tier closings, including final loan document review for LPA consistency. Organize closed deal files and hand off to Asset Management; monitor construction progress and lease-up. Policy & Process
Partner with Fund Management to review and update the Company's Underwriting Handbook annually, incorporating changes in tax law, HUD/USDA programs, LIHTC industry standards, and investor requirements.
What You Bring Bachelor's degree in finance, real estate, economics, business, or a related field 7+ years of LIHTC underwriting and real estate credit analysis experience Hands-on experience with LIHTC equity investments and/or affordable housing lending Familiarity with state and federal housing programs a strong plus (HUD/FHA, USDA/RD, Section 8 HAP, HCV, RAD, CDBG, HOME, Choice Neighborhoods, etc.) Advanced Excel skills and financial modeling ability; proficiency across the Microsoft Office suite Strong written communication skills — you can write a tight credit memo and edit others' work Genuine commitment to affordable housing and community development A problem-solver's mindset: organized, proactive, and comfortable managing a busy transaction pipeline