Community Capital Real Estate Underwriter
Location: New York, New York
Description: Citi is employing Community Capital Real Estate Underwriter right now, this position will be delegated in New York. More details about this position opportunity please read the description below. Reference Code: 13064245
Location: New York, NY, USA
Education Level: Bachelor's Degree
Brief Description
of the Organization Citi, the leading g! lobal financial services company, has some 200 million customer accounts and does business in more than 100 countries, providing consumers, corporations, governments and institutions with a broad range of financial products and services, including consumer banking and credit, corporate and investment banking, securities brokerage, and wealth management. Additional information may be found at www.citigroup.com or www.citi.com. Community Capital - Real Estate Underwriter-13064245 Description
Citi Community Capital (CCC) is an important part of Citi's Investment Bank, responsible for meeting Citi's community development lending and investing goals under the Community Reinvestment Act (CRA). Our core competencies are investment banking, lending, trading, and securitization. Our core products are construction loans, permanent loans, and Low Income Housing Tax Credits (LIHTC). CCC lends and invests in excess of $3 billion per year throughout the United States, with a pri! mary focus on financing affordable multifamily rental housing ! developments. CCC is part of the Municipal Securities Division in the Institutional Clients Group of Citi.
CCC is hiring a Real Estate Underwriter. This person will have the tact and composure to deal with clients, lawyers, internal Relationship Managers and Credit Risk Management. The RE Underwriter must understand in depth real estate transactions, analyse real estate projects for financial feasibility and analyse market driven factors. This person will be well versed in commercial real estate concept such as NOI, Cap Rates, debt service coverage, breakeven analysis, etc. Qualifications Key Responsibilities include, but are not limited to: ·Support the Senior Underwriters in all aspects of new deal closings. ·Assist in the analysis of financial feasibility of new transactions, including the financial feasibility of construction loans, bridge loans, and permanent loans. ·Strong analytical and computer skills, including Word and Excel, as well as strong inter-pe! rsonal and communication skills, both written and verbal. ·Interact with borrowers to review due diligence materials. ·Review third party reports; including appraisals, plan and cost reviews, and environmental reports and then recognize and escalate issues. ·Strong working knowledge of the nuances of Affordable Housing, bond and LIHTC transactions will be very highly weighted in favor of the successful candidate. ·Work with Banking and Asset Management teams during closing of new transactions, as well as the conversion of construction loans to a permanent mortgage after the property is built and occupied. ·Liaise between front office and all areas of the firm, not limited to Legal, Operations, Technology, and Risk. ·Involvement in reviewing transactions for internal and external (local laws and regulatory) policies. ·Individual must have excellent communication, organizational and interpersonal skills, as well as the ability to multi-task under tight deadlines. ·Str! ong motivation, with the ability to work without supervision. Keen judg! ment, a strong work ethic and pay for performance attitude. ·High attention to detail and the desire to take ownership of a process to drive towards resolutions. ·Ability to travel (20% of time) on short notice necessary. ·Candidate is required to have a BA/BS degree ·Minimum of 2 years in real estate loan underwriting, closing, or equivalent experience in an Investment Bank or affordable housing sector working on large deal transactions.
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If you were eligible to this position, please send us your resume, with salary requirements and a resume to Citi.
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This position will be started on: Sat, 09 Nov 2013 14:15:03 GMT
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