Regions Bank RAH Regions Affordable Housing Underwriter in Atlanta, Georgia

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Job Description:

At Regions the RAH (Regions Affordable Housing) Affordable Housing Underwriter III evaluates and underwrites tax credit investments to ensure each supports Regions objectives and meets or exceeds investment guidelines. Through timely and thorough underwriting, this role supports Regions strategy to maintain and expand investor relationships.

This individual serves as part of the first line of defense, with the coverage team, in identifying and mitigating risk in existing and proposed transactions. The individual will work directly with teammates in Credit Risk, Client Coverage, Capital Markets, and other areas of the bank to lead the analysis of credit opportunities, underwriting of credit exposure, and management of a portfolio of loans and other credit relationships while providing effective challenge to these various constituents. This individual will evaluate and underwrite low income housing tax credit (“LIHTC”) investments and construction/bridge loans to ensure each supports RAH’s objectives and meets or exceeds investment guidelines.

Primary Responsibilities

  • Create and maintain financial models for affordable housing investments, which include schedules such as sources and uses, operating expense analysis, and sensitivity analysis. Identify potential real estate finance issues through analysis and income and expense underwriting for each project assigned.

  • Manage the due diligence checklist, gather all required documents, review the documents, and note any issues as appropriate. Review tax credit and project due diligence including tax credit documents, real estate documents, market studies, appraisals, environmental reports, project approvals, and construction documents.

  • Understand the background and experience of each development team member including: sponsor/developer, general contractor, architect, property manager, project accountant, and support service agency (if applicable). Review references and background checks.

  • Review lower-tier partnership agreements, construction, and permanent loan documents while understanding the importance of each document and its relationship to the transaction.

  • Prepare comprehensive executive summaries of proposed investments for review by team management, internal committee, and investor approval. This includes a detailed project description, a list of merits, as well as risks and risk mitigants.

  • Preparation of credit packages (Prepares credit approval packages for new and renewed debt products including determination of the appropriate risk rating as well as risk factors that could change the risk rating, analysis of financial performance, performance vs. projections, covenant compliance, relationship profitability (RAROC), and any other significant risk drivers).

  • Analysis of guarantors as needed to support credit underwriting.

  • Reviews closing due diligence in collaboration with and oversight by more senior RAH team members.

  • Coordinate initial closing, internal department, and third-party review process.

  • Respond to developer/investor inquiries, underwriting, and due diligence questions.

  • Conduct site visits.

  • Assist with special projects, equity payments, or other priorities as requested.

  • Prepare Letters of Intent.

  • Ongoing portfolio monitoring and servicing activities.

  • Develops a strong working knowledge of and ensures compliance with internal bank commercial loan policy, credit risk management policy, and external regulatory requirements and documents any exceptions to policy and provides related rationale/mitigants.

This position is exempt from timekeeping requirements under the Fair Labor Standards Act and is not eligible for overtime pay.

This position is incentive eligible.


  • Bachelor’s degree

  • Completion of a major corporate credit training program (or the equivalent corporate banking/corporate finance experience)

  • Five (5) to six (6) years underwriting experience or financial services analysis and accounting experience

  • Financial modeling experience

  • Ability to competently complete credit packages and credit servicing agreements with limited management oversight

Skills and Competencies

  • Strong verbal and written communication skills

  • Well organized, detail-oriented, and is able to multi-task

  • Demonstrates analytical and problem solving skills

  • Ability to identify and voice issues

  • Works collaboratively with multiple stakeholders

  • Knowledge of Affordable Housing or LIHTC is a plus


Atlanta, Georgia


About Regions

At Regions, our culture focuses on five core values that are a commitment to how we will do business:

  • Put people first

  • Do what is right

  • Focus on your customer

  • Reach higher

  • Enjoy life

Through these values, our mission to make life better drives our desire to improve and make a positive difference in the communities where we work and live through financial investments and volunteering.