Assistant Vice President (AVP) - Affordable Housing Real Estate Underwriter (Construction Loan Conversions)

The professionals at Greenwich Street Community Capital (“GSCC”), a dedicated subsidiary of Situs Group, underwrite and close construction and permanent loans that are used to finance the new construction and preservation of affordable and workforce rental housing for Citi Community Capital (“CCC”).  CCC is the community lending and investing arm of Citigroup, housed in the Municipal Securities Division of Citi’s Institutional Clients Group, Unique among its peers, CCC provides a comprehensive array of financial products from investment banking to lending and equity investment designed to create strong communities and contribute toward Citigroup’s Community Reinvestment Act performance. Employees of GSCC are fully integrated with Citi employees at Citi locations.


CCC works with for-profit and non-profit developers, as well as state and local government agencies on both straightforward and highly structured transactions that may use a combination of taxable and tax-exempt loans or bonds, Low Income Housing Tax Credit equity, and governmental and private subsidies. The projects we finance serve the homeless, seniors, those with disabilities, as well as low income families and individuals. They may also include workforce housing or market rate units and other commercial uses. We are among the largest Fannie Mae and Freddie Mac mortgage bankers in this sector in addition to being a balance sheet lender.


We work throughout the country from 13 offices and, according to Affordable Housing Finance Magazine, have been the #1 affordable housing lender in the United States in each of the past six years. That success is due in large part to having the strongest, most innovative team of professionals in the country. With Citi’s capital committing capability and team of experienced professionals, we are able to provide creative financing solutions that are specifically designed to meet each client’s needs.

CCC is looking to add a Real Estate Underwriter; the experienced professional will be responsible for and possess the following qualifications:

Job Responsibilities:

  • Analyze existing construction loans to determine whether or not the conditions for conversion to permanent, non-recourse financing have been met; including financial feasibility, physical and environmental condition, borrower financial status and regulatory requirements
  • Manage communications among a diverse mix of internal and external participants including production officers, borrowers, equity investors, attorneys, title agents, etc.

  • Review and understand legal documents to ensure transactions comply with the originally negotiated terms and conditions as well as internal and external (local laws and regulatory) policies.

  • Review and analyze due diligence information used to underwrite and finalize deal files for delivery into internal and/or Agency systems.

  • Create and present comprehensive credit underwriting packages for review and approval by internal Risk Management and Business credit officers.

  • Utilize internal automated systems necessary to document credit approval and underwriting processes.

  • Negotiate structure, terms and conditions with borrowers in a constructive way, based on logic and underwriting issues, with the goal of securing transaction approval while appropriately managing risk to the company.

  • Liaise between, but not limited to Legal, Operations, Technology, Production and Credit Risk Management.

  • Travel to markets throughout the United States to conduct site inspections, meet with internal and external clients, and participate in conferences and training opportunities.

Required Skills:

  • Candidate is required to have a BA/BS with an experience in commercial real estate.
  • Excellent communication, organizational and interpersonal skills, along with the ability to multi-task under tight deadlines.
  • Strong motivation, with the ability to work without supervision and take responsibility for increasingly complex tasks.

  • Keen judgment, 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.

  • Willingness to travel (20% of time) on short notice if necessary. 

  • Possess a basic working knowledge of the commercial real estate industry, including finance.

  • The successful candidate must be capable of analyzing real estate projects for financial feasibility as well as market driven factors.   This person will be well versed in commercial real estate concepts such as NOI, Cap Rates, debt service coverage, etc.

This Employer Participates in E- Verify.




Job Location: Nashville, Tennessee, United States
Date published: 29-Mar-2018
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