Reports ToVP, Underwriting
This is a full-time seasonal position with CREA, LLC, for approximately 12 weeks during the summer 2020. The candidate will assist in performing the following duties for the Credit & Underwriting Department:
- Review market studies and operating projections for investments in multi-family properties.
- Assist with the development of a database regarding historical income growth within markets served by CREA. The analysis will include HUD AMI Income levels and census bureau data over the last 10 years. The data will be developed to be utilized and compared to actual changes in rent levels in those same markets.
- Update CREA operating expense database for property level audits. The database will then be utilized to provide benchmarks for operating expenses by geography, tenancy and construction type.
- Review actual operating performance of certain stabilized properties against original financial forecasts. This will help the Underwriting Department to identify property types or expenses needing extended review during our underwriting process.
- Other project-related activities as driven by CREA’s business needs.
Successful interns will gain experience in understanding the development of operating projections within the real estate environment and the relationships between certain categories of revenue and expenses with that same environment. The intern will also be introduced to the fundamentals of the Low-Income Tax Credit (LIHTC) industry.
Requires Junior or Senior standing towards a bachelor’s undergraduate degree, preferably in Finance, Accounting, or other business-related field. Candidate must be proficient in Microsoft Outlook, Word and Excel. Will become familiar with other systems, databases and other research tools during their tenure of employment. Must posses and be able to demonstrate effectiveness with each of the following Key Attributes:
- Strong analytical and interpersonal skills
- Strong oral and written communication skills
- Strong, proactive research and problem-solving skills
- Ability to effectively manage and administer sensitive and confidential information
- Must have strong initiative and be able to work with little guidance & supervision
- Professionalism/Ethics (Trust, Attitude, Commitment, Honesty, Collaboration & Approachability)