Underwriter Affordable Housing

Posted Wednesday, January 21, 2026 at 11:00 AM

Our ideal candidate
:
We are seeking candidates deeply committed to our mission: to transform the banking industry from within. We lead by example, collaborate with and invest in change-makers and build sustainable prosperity in our communities.

Who we are
:
Beneficial State is one of only a handful of B-Corp banks in the nation and one of the highest-rated B-Corps on the planet. That means that we subscribe to a rigorous evaluation standard that measures our positive impact, not just our profitability. We demonstrate how a bank can combine social equity, environmental sustainability, and business stability to create a better financial system – a system that drives inclusive prosperity to benefit people and the planet.

#BCorp #WeAreBCorps

Join our team: If you are ready to do challenging and transformative work that will build a brighter future for us all, and you are hungry to bring your passion and energy to the table, we welcome your application.

POSITION OVERVIEW

The VP Underwriter on the Affordable Housing team is responsible for the underwriting and coordination in closing Affordable Housing loans originated by the bank. The position will support all the bank’s markets in California, Oregon, and Washington. The Affordable Housing Underwriter is also responsible for spreading, managing, and maintaining financial background of present and prospective customers, including performing financial statement analysis involving complex and interlocking relationships.

ESSENTIAL DUTIES

• 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

ENVIRONMENT AND PHYSICAL ACTIVITY

The incumbent is in a non-confined office-type setting in which they are free to move about  position may include driving a personal or company owned vehicle approximately ≥5% of the time which includes exposure to the outside weather elements and moving mechanical parts. It may include some minor annoyances such as noise, odors, drafts, etc. The incumbent while performing this position spends time writing, typing, speaking, listening, lifting (up to 25 pounds), driving, carrying, seeing (such as close, color and peripheral vision, depth perception and adjusted focus), sitting, pulling, walking, standing, squatting, kneeling, and reaching.

The incumbent for this position may operate any or all the following: computer, telephone, cellular telephone, copy and fax machines, calculator, video conferencing equipment, and other office productivity machinery. The work environment characteristics described here are representative of those an employee encounters while performing the essential functions of this job. The physical demands described here are representative of those that must be met by an employee to successfully perform the essential functions of this job.

Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.

MENTAL DEMANDS

The incumbent in this position must be able to accommodate reading documents or instruments, detailed work, problem solving, customer contact, reasoning, math, language, presentations, verbal and written communication, analytical reasoning, stress, multiple concurrent tasks, and constant interruptions.

MINIMUM QUALIFICATIONS

• 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

#LI-Hybrid

The posted pay range is the lowest to highest compensation we reasonably in good faith believe we would pay at posting for this role but may include ranges from the different geographies where this position may be based. New employees' starting pay is usually from the start of the range to…