Underwriter Affordable Housing

Locations: Los Angeles, CA; Seattle, WA; Porterville, CA 93257; Portland, OR; Oakland, CA; Fresno, CA

#LI-Hybrid

Requisition ID: Req #290

About the Employer

Beneficial State is a B-Corp bank that applies a rigorous evaluation standard measuring positive impact alongside profitability. The organization combines social equity, environmental sustainability, and business stability in its banking practices, with a focus on serving communities and supporting inclusive prosperity.

Team Overview

This role sits on the Affordable Housing team and supports the bank’s markets across California, Oregon, and Washington.

Role Summary

The VP Underwriter on the Affordable Housing team is responsible for underwriting and coordinating the closing of Affordable Housing loans originated by the bank. The role includes spreading, managing, and maintaining financial information for current and prospective customers, as well as performing complex financial statement analysis involving interlocking relationships.

What You’ll Do

Underwrite and coordinate the closing 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 underwriting new and existing business by serving as a subject matter expert on Affordable Housing and CRE loan forms and underwriting processes
Stay current with Affordable Housing and CRE lending programs, requirements, and relevant national, regional, and local industry trends
Ensure compliance with state and federal regulations and internal policies, including BSA Anti-Money Laundering, Fair Lending, Privacy, and Anti-Discrimination
Act as a liaison between the Affordable Housing/CRE team and the Credit team, as needed

Required Qualifications

5+ years of CRE underwriting and analysis experience in a financial institution or banking environment
Demonstrated expertise in Affordable Housing lending
Demonstrated knowledge of multifamily loan programs
Experience underwriting construction and permanent debt for affordable housing projects financed through the LIHTC program
Understanding of regulations governing multifamily and affordable housing lending and investing
Experience evaluating developers and equity sponsors
Familiarity with CoStar or other appraisal and environmental due diligence reports
Ability to work independently

Compensation & Benefits

The posted salary range reflects the minimum to maximum compensation reasonably expected at the time of posting and may vary by geography. Starting pay is typically from the beginning of the range up to approximately 25% below the maximum, depending on qualifications and experience.

Hiring Min Rate: 90,698 USD

Hiring Max Rate: 130,606 USD

Compensation is based on factors including role requirements, skills, experience, education, location, performance, union contract considerations, and business needs. Pay ranges are informed by national living wage indexes and geographically specific compensation data.

Benefits include a comprehensive package designed to support employees and eligible dependents, including:

Medical, Dental, Vision, Basic Life, STD, and LTD coverage
Vacation time ranging from 2–4 weeks depending on role
12 sick days per year
11 paid holidays
401(k), Roth, FSA, HSA, and EAP
Education and adoption assistance
Bank-wide annual discretionary bonus program
Production-based incentive program for some roles
Paid volunteer time and annual donation matching
Paid sabbatical program after 5 years of service
Pet benefits

Equal Opportunity Statement

Beneficial State Bank is an equal opportunity employer. All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, national origin, gender identity, disability, or veteran status.

Beneficial State Bank jobs

Underwriter Affordable Housing