Regions Affordable Housing Underwriter (LIHTC)

Company: Regions Bank
Location: Birmingham
Posted on: January 24, 2023

Job Description:

Thank you for your interest in a career at Regions. At Regions, we believe associates deserve more than just a job. We believe in offering performance-driven individuals a place where they can build a career --- a place to expect more opportunities. If you are focused on results, dedicated to quality, strength and integrity, and possess the drive to succeed, then we are your employer of choice.Regions is dedicated to taking appropriate steps to safeguard and protect private and personally identifiable information you submit. The information that you submit will be collected and reviewed by associates, consultants, and vendors of Regions in order to evaluate your qualifications and experience for job opportunities and will not be used for marketing purposes, sold, or shared outside of Regions unless required by law. Such information will be stored in accordance with regulatory requirements and in conjunction with Regions' Retention Schedule for a minimum of three years. You may review, modify, or update your information by visiting and logging into the careers section of the system.Job Description:At Regions, the RAH (Regions Affordable Housing) Affordable Housing Underwriter serves as part of the first line of defense, evaluating and underwriting development partners and guarantors associated with housing tax credit investments to ensure each supports Regions' objectives and meets or exceeds net worth and liquidity guidelines. Through timely and thorough underwriting, this role supports Regions strategy to maintain and expand investor relationships. This position identifies and mitigates risk in existing and proposed transactions. This position will also work directly with teammates in Credit Risk, Client Coverage, Capital Markets, and other areas of the bank to support the broader analysis of credit opportunities, underwriting of credit exposure, and management of a portfolio of loans and other credit relationships while providing effective challenge to these various constituents. This individual will evaluate and underwrite low-income housing tax credit (LIHTC) investments and construction/bridge loans to ensure each supports RAH's objectives and meets or exceeds investment guidelines.Primary Responsibilities

• Works in support of the RAH team and adds value directly to client and coverage in articulating Regions' underwriting requirements for developers and guarantors of housing tax credit properties, including the analysis of complex guarantor and business structures as well as the collection and analysis of background checks
• Creates and maintains guarantor analyses, including ongoing conformance to annual guarantor financial condition requirements.
• Manages the guarantor requirement checklist, gathers all required documents, reviews the documents, and notes any issues as appropriate; Understands the background and experience of each development team member including sponsor/developer, general contractor, architect, property manager, project accountant, and support service agency (if applicable) as well as reviews references and conducts background checks.
• Proactively identifies potential guarantor issues and alerts the RAH team
• Prepares comprehensive summaries of the information gathered and analyzed as part of the investment/loan approval process; is available to respond to specific inquiries of approvers.
• Oversees ongoing monitoring of existing portfolio by being accountable for periodic assessments and other servicing requirements
• Offers advice and guidance about underwriting specific aspects of the development team and the guarantor analysis to others on the RAH transaction team
• Articulates issues associated with financial statements and to assess whether RAH financial and background requirements are metThis position is exempt from timekeeping requirements under the Fair Labor Standards Act and is not eligible for overtime pay.This position is incentive eligible.Requirements
  • Bachelor's degree in related field
  • Prior experience with analyzing complex financial statements for corporate entities, real estate operators, developers, and guarantors
  • Completion of a major corporate credit training program or equivalent corporate banking/finance experiencePreferences
    • Knowledge of Affordable Housing or Low-Income Housing Tax Credit (LIHTC)Skills and Competencies
      • Ability to research, analyze data, and derive facts
      • Ability to work in a team environment when applicable
      • Ability to work under pressure and meet deadlines
      • Proficiency in Microsoft Office (Excel, Word, PowerPoint, Outlook, etc.)
      • Strong verbal, written communication, and organizational skills
      • Strong work ethic and self-motivationThis position can be located at Regions Birmingham, AL; Atlanta, GA; or Great Neck, NY office locations. Daily (M-F), on-site attendance is required.Position TypeFull timeCompensation DetailsPay ranges are job specific and are provided as a point-of-market reference for compensation decisions. Other factors which directly impact pay for individual associates include: experience, skills, knowledge, contribution, job location and, most importantly, performance in the job role. As these factors vary by individuals, pay will also vary among individual associates within the same job.The target information listed below is based on the national range and level of the position.Job Range Target:Minimum:$51,671.50 USDMedian:$74,710.00 USDIncentive Pay Plans:This role is eligible to participate in a discretionary incentive plan. Employees have the potential to receive a discretionary award based on performance against defined metrics and goals.Benefits InformationRegions offers a benefits package that is flexible, comprehensive and recognizes that "one size does not fit all" for associates. Listed below is a synopsis of the benefits offered by Regions for informational purposes, which is not intended to be a complete summary of plan terms and conditions.
        • Paid Vacation/Sick Time
        • 401K with Company Match
        • Medical, Dental and Vision Benefits
        • Disability Benefits
        • Health Savings Account
        • Flexible Spending Account
        • Life Insurance
        • Parental Leave
        • Employee Assistance Program
        • Associate Volunteer ProgramPlease note, benefits and plans may be changed, amended, or terminated with respect to all or any class of associate at any time. To learn more about Regions' benefits, please click or copy the link below to your browser.Location DetailsRegions Center - BirminghamLocation:Birmingham, AlabamaBring Your Whole Self to Work We have a passion for creating an inclusive environment that promotes and values diversity of race, color, national origin, religion, age, sexual orientation, gender identity, disability, veteran status, genetic information, sex, pregnancy, and many other primary and secondary dimensions that make each of us unique as individuals and provide valuable perspective that makes us a better company and employer. More importantly, we recognize that creating a workplace where everyone, regardless of background, can do their best work is the right thing to do. OFCCP Disclosure: Equal Opportunity Employer/Disabled/Veterans

Keywords: Regions Bank, Birmingham , Regions Affordable Housing Underwriter (LIHTC), Accounting, Auditing , Birmingham, Alabama