CIT Group Inc.

VP, Affordable Housing Underwriter

Location US-CA-Pasadena
Job ID
# Positions
Job Family
Operations - COO/CAO/Business Management



Founded in 1908, CIT (NYSE: CIT) is a financial holding company with approximately $50 billion in assets as of Dec. 31, 2017. Its principal bank subsidiary, CIT Bank, N.A., (Member FDIC, Equal Housing Lender) has approximately $30 billion of deposits and more than $40 billion of assets. CIT provides financing, leasing, and advisory services principally to middle-market companies and small businesses across a wide variety of industries. It also offers products and services to consumers through its Internet bank franchise and a network of retail branches in Southern California, operating as OneWest Bank, a division of CIT Bank, N.A. For more information, visit


CIT Bank N.A. Community Lending and Investment (CLI) is expanding its debt and equity products to help promote community and economic development, job creation and affordable housing in communities of need in Southern California. As one of the largest Financial Institutions headquartered in California, CLI provides both debt and equity products to a wide range of community development activities including affordable housing, community facilities, small business development and Community Development Financial Institutions.

The Vice President (VP) of Community Development Lending will be a key leader in the Bank’s achievement of its $5 billion community benefits plan related to Lending and Investing. This position will help grow and manage a portfolio of affordable housing debt products. This position will be responsible for business development, underwriting and assist with portfolio management of the affordable housing portfolio.


• In coordination with the Director of Community Lending & Investing (CLI), the VP will assess the lending and investments related needs in our assessment area to ensure excellent responsiveness to community development and credit needs
• Experience in underwriting affordable housing loans (construction and perm) and, as needed, assist with the underwriting of Low income Housing Tax Credit equity Investments.
• Experience in the closing of lending and investing opportunities by working with loan administration staff in the coordination of closing and funding which will include working with internal/external attorneys, escrow/title officers and third party consultants
• Ability to support CIT’s credit culture which requires extensive due diligence ranging from analysis of financial performance, historical portfolio performance to risk identification and mitigation strategies
• Experience with the monitoring/asset management of lending and investing portfolio including assisting with timely receipt of reporting and monthly, quarterly and annual internal monitoring reports


• Bachelor’s degree required, MBA preferred
• Must possess at least 8 years of affordable housing construction or permanent loan underwriting in a CRA related lending or investing role
• Must possess CRA investment/lending field experience including detailed knowledge of Low Income Housing Tax Credits, real estate and equity investments and other related regulations regarding lending and investment specific to affordable housing
• Must be able to read, analyze and interpret various financial reports, financial statements, third party reports (i.e. appraisals, environmental reports) and legal documents
• Demonstrate superior credit skills for underwriting new deals, renewals, modifications and problem asset management.
• Shepherd appropriate lending opportunities through the approval process
• Experience investigating/analyzing sensitive and complex commercial credits and risk issues
• Must possess strong project management skills and a demonstrated ability to meet tight timelines/deadlines
• Must possess strong communication skills with the ability to interact with community group leaders, bank executives and outside partners
• Must have strong verbal, written and interpersonal communication skills and be comfortable making presentations at conferences and other external meetings, serve on community boards and professional organizations which enhance the profile
• Extensive knowledge and understanding of current market conditions in terms of pricing, terms, conditions and covenants as well as legal structure and documentation
• Must be able to quickly build successful relationships with co-workers, executives, and third party partners alike, specifically with affordable housing syndicators and developers (for-profit and not-for-profit groups)
• Must be able to interface with senior Bank credit officers, lawyers, co-lenders, and other internal and external parties in sourcing, structuring and approving deals
• Enjoy working in relationship management teams with a proven understanding of the importance of balancing business development, asset quality and community development needs
• Advanced Microsoft office (Word, Excel, an Outlook skills)
• Ability to make timely and independent judgement decisions while working in a fast-paced, results-oriented environment while exercising sound judgement with attention to detail and accuracy skills



Sorry the Share function is not working properly at this moment. Please refresh the page and try again later.
Share on your newsfeed