Beneficial State Bank · 17 hours ago
Underwriter Affordable Housing
Seattle, WA
Full-time
Hybrid
Senior Level
5+ years expBeneficial State Bank is a B-Corp bank committed to transforming the banking industry. The VP Underwriter on the Affordable Housing team will be responsible for underwriting and coordinating the closing of Affordable Housing loans, while ensuring compliance with regulations and maintaining financial analysis of clients.
BankingFinancial ServicesPersonal Finance
Responsibilities
Underwrite and coordinate closing a range of Affordable Housing and CRE loan structures and property types with an emphasis on multifamily and deed-restricted affordable housing projects
Support quality control and consistency in the underwriting of new and existing business by being the subject matter expert on forms and underwriting process of Affordable Housing and CRE loans
Stay current with current Affordable Housing and CRE lending programs and requirements
Stay current with national, regional, and local industry trends that may impact customers or the communities the bank serves
Ensure compliance with all state and federal regulations and internal company policies, including but not limited to BSA Anti-Money Laundering, Fair Lending, Privacy, and Anti-Discrimination
May act as the liaison between Affordable Housing/CRE team and Credit team
Qualification
Required
5+ years of CRE underwriting and analysis experience in a financial institution or banking environment
Demonstrated expertise in the core business of Affordable Housing Lending
Demonstrated knowledge of Multifamily loan programs
Experience with underwriting construction and permanent debt for affordable housing projects financed through the LIHTC program
Understanding of the regulations that govern multifamily and affordable housing lending and investing
Experience evaluating developers and equity sponsors
Familiar with CoStar or other appraisal and environmental due diligence reports
Must be able to work independently
Benefits
Medical / Dental / Vision / Basic Life / STD / LTD
Vacation Days: 2-4 weeks depending on role
Sick Days: 12 days per year
Holidays: 11 days per year
401(K) / ROTH / FSA / HSA / EAP
Education and Adoption Assistance
Bank-Wide Annual Discretionary Bonus Program
Production-based incentive program available for some roles.
Paid Volunteer Time: 4 days per year / annual match of qualifying employee donations
Paid Sabbatical Program after 5 years of service
Pet Benefits
Company
Beneficial State Bank
Beneficial State Bank is an FDIC-insured Community Development Financial Institution that serves businesses, nonprofit and individuals.
201-500 employees
Funding
Current Stage
Growth StageTotal Funding
$4.96MKey Investors
Community Development Financial Institutions Fund
2023-04-10Grant· $4.96M
Leadership Team
Randell Leach
Chief Executive Officer
Tyson Smith, CTP
SVP, Chief Technology Officer
Recent News
Business Insider
2024-04-10
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