Analyst

The Organization
The California Community Reinvestment Corporation (CCRC) California's premier multifamily affordable housing lender responding to California's ongoing statewide affordable housing crisis. With capital provided by most of the major retail banks operating in California as well as a key insurance company, CCRC delivers the products, services and technical assistance that makes the organization the lender-of-choice of California's affordable housing development community. Since its founding in 1989, CCRC has approved more than $2 billion in loans and tax exempt bonds for affordable housing, creating 47,000 homes for people earning 80% or less of the area median income. Providing this access to capital to developers of affordable housing allows individuals to live, work and raise their families in communities throughout California, creating a more economically diverse and stable statewide economy. Throughout California, CCRC has worked with for-profit and nonprofit developers to increase the supply of affordable housing. CCRC provides permanent debt for acquisition/rehabilitation for existing housing stock and forward commitment loans and tax-exempt bonds for planned new construction. CCRC also provides scholarships for residents in its financed properties for higher educational and vocational advancement. Recognized as a leader in the state in these programs, CCRC has an experienced and skilled team to meet the needs of its investor banks, developers, and those communities it serves.

Job Summary
The position supports the underwriting process for permanent financing of mortgage and tax-exempt bonds secured by multifamily affordable housing developments within the State of California. Specific tasks include site inspections, appraisal review, pro-forma analysis, analysis of sponsor’s financial statements, and assisting with the preparation of loan underwriting credit packages. The position will also assist in analyzing existing commitments in the process of converting and funding to verify accuracy of underwriting at commitment. Interface extensively with team members and some sponsor/borrowers as analysis is performed.

Principal Responsibilities

1. Assist in the underwriting of permanent debt on affordable multi-family rental projects utilizing 9% tax credits and 4% credits in tax-exempt bond transactions within California. Analyzes project pro-forma sources/uses, appraisal, market studies, environmental reports, sponsor financial statements, and other due diligence.

2. Performs conversion analysis upon project completion. Analyzes actual property performance and compares to budget.

3. Provides analysis for evaluation of new origination opportunities.

4. Review loan documentation and assist Loan Administration with closing transactions.

5. Participates in and represents CCRC at industry-related functions, conferences, and professional organizations.

6. Performs special projects and other related duties related to the CCRC loan portfolio.

7. Maintains a current knowledge of state and federal regulations as they apply to loan policy, procedure, and lending practices. Maintain high ethical standards and sound lending practices.

Job Specifications

1. Good working knowledge of multi-family real estate lending and underwriting. Someexperience in development, related finance, or commensurate level of post-graduateeducation in related fields of study.

2. Knowledge of real estate documentation. Affordable housing experience a plus but notrequired.

3. Strong oral and written communication skills.

4. Strong analytical skills with financial statement analysis with skill in Excel as well as abilityto read and comprehend complex multi-family project appraisals.