Trinidad State Junior College - Denver, CO
posted 4 months ago
The Housing Underwriter position at the Colorado Department of Local Affairs (DOLA) is a critical role aimed at enhancing the housing development mission within the state. This position is responsible for reviewing, analyzing, verifying, and negotiating applications for financial assistance from various stakeholders, including private housing developers, local housing authorities, and local development organizations. The Housing Underwriter plays a vital role in providing the Executive Director of DOLA, the Division of Housing, and the State Housing Board with the necessary information to assess the feasibility of affordable housing investments. The responsibilities of the Housing Underwriter include underwriting and providing technical assistance, as well as drafting comprehensive reports. The Underwriter will analyze applications for financial assistance, ensuring they are complete and accurate while assessing market demand, financial commitments, management capacity, regulatory compliance, financial feasibility, and development costs. This analysis encompasses evaluating cost estimates, project revenue, operating costs, and the ability to repay debt, as well as determining the necessity for additional investors or lenders. The Underwriter will prepare written Pro/Con project summaries and funding analyses for presentation to staff and the State Housing Board, negotiate revisions to proposals, and write project summaries that will be used to draft contracts for funding awards. In addition to underwriting duties, the Housing Underwriter will support the overall development training program for the Division of Housing by developing curriculum and providing training and technical assistance to various stakeholders, including DOH staff, private developers, local housing organization staff, and local government officials. This training will cover topics such as the development of affordable housing, the use of federal financial resources, market assessments, development costs, and housing operating expenses. The Underwriter will also conduct research on real estate underwriting guidelines and methods used by other public agencies and private developers to provide financing for affordable housing projects and programs.