Senior Underwriter

Status: Exempt (Salaried) Reports to: Vice President of Housing Finance and Development Location: 3906 Farnam Street, Omaha, NE Work Schedule: FPI operates on a 7.5-hour workday with core hours of 9am–3pm. This role offers hybrid flexibility with regular in-office collaboration expected.

Compensation

Hiring range of $104,100-122,500 with eligibility for annual incentive compensation (4-8% of base salary). We are committed to equitable compensation practices and base salaries on a consistent framework tied to role scope, responsibility, and experience. Most candidates will be hired near the midpoint of the range, depending on experience and qualifications.

Benefits

Comprehensive benefits package including health, dental, and vision insurance; retirement contributions; generous paid time off; professional development support; and hybrid work flexibility. Organizational Overview: Front Porch Investments was formed in 2021 to address the gap in affordable housing in the region. Front Porch Investments serves as a catalyst for innovative and community-centered affordable housing solutions, with a focus on investment, advocacy, and engagement. We prioritize production and preservation of affordable housing, housing justice, and innovative housing models, working across public-private partners to strengthen the regional housing ecosystem.

Front Porch Investments is a supporting organization of the Omaha Community Foundation. Core Values: Human-Centered. We believe in housing as a human right and center this belief in our work. Bold. We make bold decisions to support housing innovation. Inclusive. We prioritize equitable access to the housing ecosystem, especially for historically excluded voices. Collaborative. We believe collaboration across systems is where transformative change happens.

Role Overview

The Senior Underwriter at Front Porch Investments (FPI) is responsible for leading the financial and credit analysis of affordable housing loans. This role will independently evaluate and structure transactions, conduct due diligence, prepare credit recommendations, and coordinate approved loans through closing and handoff to loan operations staff. Responsibilities and Duties Key responsibilities include, but are not limited to the following: Underwriting and Credit Analysis Lead the underwriting of acquisition, predevelopment, bridge, construction, mini-permanent, permanent, and other affordable housing loans.

Evaluate borrower and guarantor capacity and analyze project budgets, operating pro formas, rent rolls, development schedules, and proposed capital structures. Assess collateral, leverage, debt-service coverage, affordability requirements, and the timing and reliability of public subsidies and other project funding. Identify material credit, construction, market, operational, and compliance risks; recommend appropriate loan terms, covenants, reserves, guarantees, and other mitigants. Prepare clear credit memoranda and recommendations…

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