VP - Senior Underwriter (Affordable Housing)

Overview

Berkadia is seeking a Vice President - Senior Underwriter focused on Affordable Housing to join our underwriting team in Brentwood, Tennessee. This hybrid role combines strategic leadership with expert underwriting of complex affordable housing transactions, including LIHTC and other tax-advantaged financing structures. The VP will lead underwriting efforts from initial evaluation through credit memo approval, mentor junior staff, and collaborate with originations, lenders, and investors to deliver sound, value-driven capital solutions.

Responsibilities

• Lead and supervise underwriting for affordable housing finance transactions (LIHTC, FHA/HUD, and related structures).
• Develop and review cash flow models, debt service coverage, reserves, and equity structures.
• Conduct market analysis, property-level risk assessment, and portfolio reviews.
• Prepare credit memos, term sheets, and presentations for credit committees.
• Coordinate with originations, asset management, lenders, government agencies, and investors.
• Manage workload and mentor underwriting team members; ensure compliance with Berkadia policies and regulatory requirements.
• Stay current on housing finance policy changes and industry best practices.

Qualifications

• Bachelor’s degree; advanced degree or relevant professional credentials (CPA, CFA) preferred.
• 10+ years of real estate finance underwriting experience, with strong emphasis on affordable housing and LIHTC.
• Deep knowledge of tax credit financing, credit analysis, cash flow modeling (Excel), and risk assessment.
• Familiarity with financing programs (LIHTC, FHA/HUD) and regulatory guidelines.
• Excellent communication, leadership, and project-management skills.
• Hybrid work arrangement and willingness to travel as needed.

About Berkadia

Berkadia provides capital solutions for commercial real estate and is backed by Berkshire Hathaway and Leucadia National. We deliver value-driven financing and advisory services to clients across the real estate spectrum.