Address
Form of workMultifamily Underwriter
SALARY:$40.08 - $46.68 per hourLOCATION:Seattle Municipal Tower, 700 5th Ave., Seattle, WashingtonJOB TYPE:Classified Civil Service, Regular, Full-TimeSHIFT:DayDEPARTMENT:Office of HousingBARGAINING UNIT:Non-RepresentedCLOSING DATE1/2/2024 04:00 PM Pacific Time
THE OFFICE
Seattle's Office of Housing (OH) works to build strong, healthy communities and increase opportunities for all people to live in a community of their choice, in a home they can afford. OH invests in the production and preservation of affordable homes for people with low-incomes, including individuals and families who are exiting homelessness. The Office also assists low-income homeowners with home repair loans and weatherization grants so they can safely remain in their homes and neighborhoods.
The fields of housing development and lending have often failed to reflect the experiences and identities of people affected by development decisions and outcomes, including Black, Indigenous, People of Color, Immigrants, Refugees, People with Disabilities, and LGBTQ+ people. We strongly encourage people with these identities or from other marginalized communities to apply.
THE JOB
The Office of Housing is recruiting for a Multifamily Underwriter to help gather information, analyze it, and make recommendations to the Rental Housing Programs Manager and the Manager of Acquisition, Preservation, and Strategic Initiatives.
Your curiosity, willingness to ask questions, and examine the details before making recommendations will enhance your success. Our team emphasizes strong project analysis, regulatory compliance, and clear communication as we seek to ensure City resources are used effectively, maximizing our capacity to help Seattle's low-income residents access safe and affordable homes.In this job you will:
You will be successful in this role with a combination of the following:
A commitment to:
Experience, knowledge, and abilities:
In addition to the skills and experience described above, you will need to possess the below required qualifications (or a combination of experience and/or training and or education which provides and equivalent background to perform the job):
OR
OR
This overtime-eligible position is classified as a Community Development Specialist. The full pay range for this step-progression position is $40.08 - $46.68 per hour. New employees begin at Step 1 of the pay progression, which is $40.08 hourly. Current City employees' starting rate of pay will be based on Personnel Rules regarding promotions.
This position offers the flexibility of a hybrid work schedule. Employees will be expected to be in-office twice a week. Individual schedules will be based on agreement between the employee and their supervisor.
The first round of interviews for this position are tentatively scheduled for the week of January 8th, 2024, with the second round taking place the week of January 15th, 2024.
Individuals selected to fill this position may be eligible to receive Language Premium Pay (SMC 4.20.360), which provides a $200.00 monthly stipend to qualified bilingual employees who are properly evaluated and assigned to provide direct communication in-language, interpretation, or translation services to the public on behalf of the City of Seattle.
Why work at the City?
The City of Seattle recognizes every City employee must play a role in ending institutional and structural racism. Our culture is the result of our behavior, our personal commitments, and the ways that we courageously share our perspectives and encourage others to do the same. To cultivate an antiracist culture, we seek employees who will engage in the Race and Social Justice Initiative by working to dismantle racist policies and procedures, unlearn the way things have always been done, and provide equitable processes and services.
The City of Seattle offers a comprehensive benefits package including vacation, holiday, and sick leave as well as medical, dental, vision, life and long-term disability insurance for employees and their dependents. More information about employee benefits is available on the City's website at: https://www.seattle.gov/human-resources/benefits/employees-and-covered-family-members/most-employees-plans
Please note this job advertisement is not designed to cover or contain a comprehensive listing of activities, duties or responsibilities that are required of the employee for this job.
Application Process:
Please submit your application at www.governmentjobs.com/careers/seattle no later than 4:00pm Pacific Time on Tuesday, January 2, 2024. When you submit your application, please complete the application fully and attach:
Questions? Please contact Ira Becton at ira.becton@seattle.gov.
Who may apply: This position is open to all applicants that meet the minimum qualifications. The City of Seattle values diverse perspectives and life experiences. Applicants will be considered regardless of race, color, creed, national origin, ancestry, sex, marital status, disability, religious or political affiliation, age, sexual orientation, or gender identity. The City encourages people of all backgrounds to apply, including people of color, immigrants, refugees, women, LGBTQ+, people with disabilities, veterans, and those with diverse life experiences.
#LI-HybridEmployment Type: Classified Civil Service, Regular, Full-Time
SALARY:$40.08 - $46.68 per hourLOCATION:Seattle Municipal Tower, 700 5th Ave., Seattle, WashingtonJOB TYPE:Classified Civil Service, Regular, Full-TimeSHIFT:DayDEPARTMENT:Office of HousingBARGAINING UNIT:Non-RepresentedCLOSING DATE1/2/2024 04:00 PM Pacific Time
THE OFFICE
Seattle's Office of Housing (OH) works to build strong, healthy communities and increase opportunities for all people to live in a community of their choice, in a home they can afford. OH invests in the production and preservation of affordable homes for people with low-incomes, including individuals and families who are exiting homelessness. The Office also assists low-income homeowners with home repair loans and weatherization grants so they can safely remain in their homes and neighborhoods.
The fields of housing development and lending have often failed to reflect the experiences and identities of people affected by development decisions and outcomes, including Black, Indigenous, People of Color, Immigrants, Refugees, People with Disabilities, and LGBTQ+ people. We strongly encourage people with these identities or from other marginalized communities to apply.
THE JOB
The Office of Housing is recruiting for a Multifamily Underwriter to help gather information, analyze it, and make recommendations to the Rental Housing Programs Manager and the Manager of Acquisition, Preservation, and Strategic Initiatives.
Your curiosity, willingness to ask questions, and examine the details before making recommendations will enhance your success. Our team emphasizes strong project analysis, regulatory compliance, and clear communication as we seek to ensure City resources are used effectively, maximizing our capacity to help Seattle's low-income residents access safe and affordable homes.In this job you will:
- Review and evaluate multifamily loan applications for policy and regulatory compliance, underwrite projects' financial feasibility, and determine the viability of proposed operating and service budgets
- Complete underwriting tasks, including project sponsor analysis, market analysis, sources and uses capital structure analysis
- Prepare multifamily credit materials for the Director, present funding recommendations, and work with asset management to manage compliance
- Monitor City-funded projects, from predevelopment through development, construction, and closing out of completed projects
- Review legal loan documents for real estate closing, coordinate with borrower, counsel, Title Company, and other funders to ensure timely closing and proper City lien position
You will be successful in this role with a combination of the following:
A commitment to:
- Race and social justice
- Listening and clear, respectful, and effective written and oral communications during all interactions
- Building strong and collaborative internal and external working relationships
- Following up quickly and accurately to inquiries
Experience, knowledge, and abilities:
- Experience or knowledge of affordable housing finance involving public and private sources, community development, urban planning, and development of affordable housing for homeless or special needs residents
- Experience or knowledge of real estate development lending, including bridge and permanent loans
- Experience or knowledge of multifamily subsidy sources, including low-income housing tax credits, state housing trust fund, Community Development Block Grant, and HOME
- Knowledge of housing construction, rehabilitation, land use, and building codes
- Experience working with a variety of constituents and in community and collaborating within and across organizations
- An ability to navigate sensitive or political topics in a clear, compassionate manner
In addition to the skills and experience described above, you will need to possess the below required qualifications (or a combination of experience and/or training and or education which provides and equivalent background to perform the job):
- Four years of progressively responsible experience in affordable housing finance, community development, real estate finance, or a related field
- Washington State Driver's License or evidence of equivalent mobility
OR
- Three years of progressively responsible experience in affordable housing finance, community development, real estate finance, or a related field
- Associate degree in business or public administration, urban planning, finance, real estate, human services, or a related field
- Washington State Driver's License or evidence of equivalent mobility
OR
- Two years of progressively responsible experience in affordable housing finance, community development, urban planning, architecture, real estate finance, or a related field
- Bachelor's degree in business or public administration, urban planning, finance, real estate, human services, or a related filed
- Washington State Driver's License or evidence of equivalent mobility
This overtime-eligible position is classified as a Community Development Specialist. The full pay range for this step-progression position is $40.08 - $46.68 per hour. New employees begin at Step 1 of the pay progression, which is $40.08 hourly. Current City employees' starting rate of pay will be based on Personnel Rules regarding promotions.
This position offers the flexibility of a hybrid work schedule. Employees will be expected to be in-office twice a week. Individual schedules will be based on agreement between the employee and their supervisor.
The first round of interviews for this position are tentatively scheduled for the week of January 8th, 2024, with the second round taking place the week of January 15th, 2024.
Individuals selected to fill this position may be eligible to receive Language Premium Pay (SMC 4.20.360), which provides a $200.00 monthly stipend to qualified bilingual employees who are properly evaluated and assigned to provide direct communication in-language, interpretation, or translation services to the public on behalf of the City of Seattle.
Why work at the City?
The City of Seattle recognizes every City employee must play a role in ending institutional and structural racism. Our culture is the result of our behavior, our personal commitments, and the ways that we courageously share our perspectives and encourage others to do the same. To cultivate an antiracist culture, we seek employees who will engage in the Race and Social Justice Initiative by working to dismantle racist policies and procedures, unlearn the way things have always been done, and provide equitable processes and services.
The City of Seattle offers a comprehensive benefits package including vacation, holiday, and sick leave as well as medical, dental, vision, life and long-term disability insurance for employees and their dependents. More information about employee benefits is available on the City's website at: https://www.seattle.gov/human-resources/benefits/employees-and-covered-family-members/most-employees-plans
Please note this job advertisement is not designed to cover or contain a comprehensive listing of activities, duties or responsibilities that are required of the employee for this job.
Application Process:
Please submit your application at www.governmentjobs.com/careers/seattle no later than 4:00pm Pacific Time on Tuesday, January 2, 2024. When you submit your application, please complete the application fully and attach:
- A PDF/MS Word copy of your current resume (required)
- A cover letter explaining how your experience and skills align with this job (required)
Questions? Please contact Ira Becton at ira.becton@seattle.gov.
Who may apply: This position is open to all applicants that meet the minimum qualifications. The City of Seattle values diverse perspectives and life experiences. Applicants will be considered regardless of race, color, creed, national origin, ancestry, sex, marital status, disability, religious or political affiliation, age, sexual orientation, or gender identity. The City encourages people of all backgrounds to apply, including people of color, immigrants, refugees, women, LGBTQ+, people with disabilities, veterans, and those with diverse life experiences.
#LI-HybridEmployment Type: Classified Civil Service, Regular, Full-Time
