About this role:
Wells Fargo is seeking a Lead Commercial Real Estate Relationship Manager / Low-Income Housing Tax Credit (LIHTC) equity underwriter.
In this role:
- Assemble Excel LIHTC financial models that identify the projected financial performance of an asset, and underwriting risks associated with demand, supply, income, expenses, and financing.
- Assess the proper financing structures, tax consequences, and investment returns of a potential investment, and understanding the various loan programs, state regulations, and compliance requirements of IRC Section 42.
- Prepare underwriting memorandums and recommendations for credit approval.
- Analyze an affordable housing developer's financial position and operational strengths and weaknesses, including leverage, key risk factors, projected income, repayment sources, cash flow, liquidity, net worth, and ability to service debt.
- Analyze project-level due diligence, including loan documentation, partnership agreements, appraisals, market studies, development budgets, construction reports, etc.
- Assist the negotiation of a partnership agreement and project documents related to the closing of a LIHTC transaction.
- Participate in property tours and site visits to develop a deeper understanding of the real estate transaction and market and foster client relationships.
- Complete various post-closing asset management activities including, but not limited to, review and approval of permanent loan conversions / DSCR analysis, cost certifications, LIHTC adjusters, and GP/guarantor replacements.
- Work in a team environment that will require effective coordination and communication with the customer, internal closing teams, internal debt partners, risk management, and asset management
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- 5+ years of Commercial Real Estate Relationship Management experience, or equivalent demonstrated through one or a combination of the following: work experience, training, military experience, education
- 5+ years of commercial real estate experience, 2+ of which to include a focus LIHTC
- LIHTC multifamily real estate underwriting experience
- Intermediate Microsoft Excel skills, including high level of proficiency in Excel LIHTC financial modeling
- A BS/BA degree or higher in business, finance, real estate, accounting or a related field
- Ability to help develop and maintain strong client relationships
- Ability to productively participate in the underwriting and closing of LIHTC transactions
- Ability to interact effectively and confidently with senior management and credit
- Excellent verbal, written, and interpersonal communication skills
- Outstanding problem solving and decision-making skills
- Ability to work in a fast-paced deadline driven environment
- High level of responsibility, initiative, and accountability
- Ability to travel up to 10% of the time
- Ability to work outside of regular business hours
- Willing to work in the posted locations
21 Mar 2025
*Job posting may come down early due to volume of applicants.
We Value Diversity
At Wells Fargo, we believe in diversity, equity and inclusion in the workplace; accordingly, we welcome applications for employment from all qualified candidates, regardless of race, color, gender, national origin, religion, age, sexual orientation, gender identity, gender expression, genetic information, individuals with disabilities, pregnancy, marital status, status as a protected veteran or any other status protected by applicable law.
Employees support our focus on building strong customer relationships balanced with a strong risk mitigating and compliance-driven culture which firmly establishes those disciplines as critical to the success of our customers and company. They are accountable for execution of all applicable risk programs (Credit, Market, Financial Crimes, Operational, Regulatory Compliance), which includes effectively following and adhering to applicable Wells Fargo policies and procedures, appropriately fulfilling risk and compliance obligations, timely and effective escalation and remediation of issues, and making sound risk decisions. There is emphasis on proactive monitoring, governance, risk identification and escalation, as well as making sound risk decisions commensurate with the business unit's risk appetite and all risk and compliance program requirements.
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