Join Our Team
Capital for Change provides a competitive pay and benefits package and a supportive environment where you will be rewarded for your contribution to our success. ***Capital for Change is an Equal Opportunity Employer. Equal Opportunity Employer/Veterans/Disabled
Welcome to the C4C Job Portal. Below you can explore our current job openings. If you see a posting of interest, be sure to apply.
Capital for Change is an Equal Opportunity Employer.
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1. Click the APPLY NOW - DOWNLOAD APPLICATION BUTTON found just beneath the job description to access the application.
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5. Click the UPLOAD APPLICATION & RESUME BUTTON to upload your application and resume.
||| Current Openings
Community Development Underwriter - Commercial Lending
Location: Hybrid remote in Wallingford, CT 06492
Employment Type: Full-Time
Salary Range: $80,000 + Benefits
Narrative Summary of Position
NARRATIVE SUMMARY OF POSITION
Capital for Change, Inc. (C4C) is a full-service Community Development Financial Institution (CDFI) in Connecticut offering capital solutions that create and sustain lasting positive change for low-income communities, broaden social and economic participation, and encourage economic growth and environmental sustainability. We champion projects of all kinds with an approach that one size does not fit all, enabling us to create high impact products and programs that create affordable housing, increase energy efficiency, finance mixed-use development, and assist nonprofit organizations.
Reporting to the Director of Commercial Lending & Impact, the Multi-Family Affordable Housing Underwriter (the “Underwriter”) position has an administrative and a lending focus. The Underwriter assists the Director in maintaining and implementing a lending strategy, policies, and products to achieve Capital for Change’s mission and Board designated Ends. The Underwriter’s primary
responsibility will be to underwrite loans, with a priority and emphasis on multi-family housing, subsidy funds and those with a community development focus.
The Underwriter also aids in department operations including pipeline tracking, loan documentation, closings and fundings to ensure standardized and efficient loan processing in the Department.
RESPONSIBILITIES AND DUTIES
• Prepare financial, credit and risk analyses on Loan Approval Documents for Loan Officer presentation to Loan Committee and assist in managing closing process with legal counsel.
• Perform annual reviews on existing loans in the portfolio assessing cashflow and risk.
• Monitor and analyze commercial loan portfolio performance to assess risk exposure, identify trends, and recommend strategies to mitigate potential issues.
• Assist with credit quality of loan production and underwriting for a multifamily affordable housing, energy efficiency loans and non-profit loans, as needed.
• Screen and underwrite financing requests, including collection and analysis of application materials.
• Review appraisals and other external reports.
• Contribute to loan structuring discussions.
• Assist with commercial loan documentation.
• Participate in management and tracking of construction loan advances for applicable loans.
• Provide technical assistance as needed to C4C borrowers.
• Utilize internal tracking systems and pipeline information.
• Other duties as assigned.
OPERATIONAL IMPROVEMENTS
• Review incoming loan submissions for completeness and work directly with lenders to correct any deficiencies.
• Identify risks in proposed loans by becoming proficient with Capital for Change credit policy and lender guide.
• Remain current on external factors that may affect established lending policies, such as new or revised legislation and regulations.
• Coordinate with the Portfolio and Asset Management to gather market data and reconcile all regulatory requirements during the underwriting process, provide feedback while transactions remain in the portfolio and to resolve issues on troubled assets.
CORE COMPETENCIES
• Ability to review and understand financial documents i.e. complex tax returns, audited financial statements (non-profit), etc.
• Strong understanding of construction development budgets and operating pro formas, including preparation, analysis, and monitoring of project financials.
• Strong attention to detail and accuracy.
• Familiarity with public and private sector funding sources for affordable housing and community development.
• Proficiency in Microsoft Office Suite, Salesforce, and loan servicing software.
• Deep commitment and ability to welcome and empower all, highly focused on collaboration with peers.
• Strong verbal and written communication skills.
• Excellent organizational, multi-tasking, and problem-solving skills.
• Ability to learn multifamily underwriting systems and tools that are specific to C4C.
MINIMUM JOB REQUIREMENTS
• Bachelor’s degree in a related field or relevant work experience.
• At least three years of experience in loan underwriting with a CDFI, bank, or other financial institution related to multi-family affordable housing development, commercial lending and real estate construction.
Please note: A brief underwriting test will be administered as a part of the hiring process.