MAP/LEAN Underwriter
Employment Type: Full-time
About the Employer
Churchill Stateside Group, LLC (CSG) is an investment and mortgage banking firm offering a full range of debt and equity capital services directed towards multifamily market-rate, affordable housing, healthcare (LEAN), commercial real estate, and renewable energy sectors.
Role Summary
CSG is seeking an approved MAP/LEAN Underwriter in good standing with HUD who will be responsible for underwriting multifamily and healthcare transactions financed through FHA/HUD-insured loan programs, primarily under the MAP/LEAN platforms. This role involves comprehensive financial analysis, risk assessment, and coordination of the full underwriting lifecycle from application through firm commitment and closing. The ideal candidate possesses a strong foundation in real estate finance, knowledge of the HUD MAP and LEAN processing requirements, and the ability to manage multiple transactions in a deadline-driven environment.
What You'll Do
- Perform detailed underwriting of market-rate and affordable multifamily housing transactions under FHA/HUD programs, including Sections 221(d)(4), 223(f), 232, Low Income Housing Tax Credits, Historic Tax Credits, and other applicable programs
- Analyze borrower financials, project operating pro-formas, development budgets, sources & uses, and HUD Funding Schedules
- Evaluate key underwriting metrics, including DSCR, LTV, debt yield, and stabilization assumptions
- Assess market studies, appraisals, physical needs assessments, environmental reports, and third-party due diligence
- Prepare and review underwriting narratives and exhibits required for HUD LEAN submissions
- Coordinate with internal teams and external consultants to compile complete Firm Application packages
- Interface with HUD reviewers during pre-application and Firm Commitment stages
- Track and manage deal timelines to ensure adherence to HUD processing milestones
- Identify and evaluate credit, operational, and market risks associated with each transaction
- Provide structuring recommendations to mitigate risk and align with HUD guidelines
- Ensure compliance with HUD MAP Guide, LEAN protocols, and internal credit policies
- Serve as a primary point of contact for borrowers, developers, and third-party consultants during underwriting
- Collaborate with originations, closing, and asset management teams throughout the transaction lifecycle
- Support responses to HUD questions, deficiency letters, and closing conditions
- Maintain accurate underwriting files and documentation in accordance with company and HUD standards
- Ensure all submissions meet regulatory and programmatic requirements
- Assist in internal and external audits as needed
Required Qualifications
- Bachelor's degree in finance, Real Estate, Economics, or related field
- 3–6 years of experience in multifamily underwriting, preferably with FHA/HUD LEAN transactions
- Direct experience with HUD MAP Guide and LEAN processing required
- Strong financial modeling and underwriting capabilities
- Proficiency in Excel; experience with ARGUS or similar real estate analysis tools preferred
- Familiarity with affordable housing programs, including LIHTC structures
- Analytical rigor and attention to detail
- Ability to manage multiple transactions and deadlines simultaneously
- Strong written and verbal communication skills, particularly in drafting underwriting narratives
- Sound judgment and problem-solving skills
- Collaborative mindset with the ability to work cross-functionally
- 3+ years of work experience with Microsoft Excel
- Willingness to accept a background check
Preferred Qualifications
- Experience underwriting transactions involving Low-Income Housing Tax Credits (LIHTC)
- Exposure to bond financing, RAD conversions, or Section 8 contracts
- Prior interaction with HUD field offices or LEAN processing teams
Benefits
Medical insurance, vision insurance, dental insurance, 401(k), paid maternity leave, paid paternity leave, and disability insurance.
