Loan Underwriter

TREC Community Investors
June 10, 2021
3100 McKinnon St.,, Suite 1150, Dallas, Texas
Job Type




Loan Underwriter

TREC Community Investors

Reports to the Senior Director of Community Investment

TREC Community Investors (“TREC CI”) is a non-profit organization whose mission is to promote community and economic development in low-to-moderate income communities in Dallas and Collin Counties.  TREC CI is an expanding Dallas-based CDFI whose activities focus on real estate lending.


TREC CI is seeking an energetic, results-oriented individual for the position of Loan Underwriter. Reporting to the Senior Director of Community Investment, the Loan Underwriter will be responsible for identifying, originating and closing loans for TREC CI that support its program priorities and goals.  In addition, together with the Manager of Community Investment, the Loan Underwriter will provide and/or coordinate technical assistance to nonprofit, for-profit and public organizations around the financing, creation and operation of these investments.  Some local travel will be required.


  • Screen, structure and underwrite financing requests, including analyzing operating performance, historical and projected financial performance, management capacity, organizational structure, and project feasibility.
  • Collaborate with internal and external parties (banks, co-lenders, attorneys, etc.) to structure financings including managing intercreditor negotiations; reviewing real estate contracts, leases and due diligence; and identifying and negotiating key risk mitigants, including reserves, guarantees and other forms of credit enhancement.
  • Work with potential borrowers to evaluate their financial health, determine financing needs, verify credit-readiness, and assess project feasibility.
  • Review application submissions based on established criteria. Assist with loan approvals, closings, payoffs, modifications and workouts. Ensure all due diligence criteria is evaluated and complete. Conduct site visits. Conduct necessary due diligence of projects and development teams, including but not limited to appraisals, contracts of sale, title and environmental assessment reports and borrower financials.  Review and evaluate development and operating budgets and services plans for projects. Track project budgets before and during construction.
  • Prepare and present loan recommendation memos and financial spreads for review and presentation to the TREC CI Loan Committee.
  • Coordinate technical assistance to communities, for profit and not-for-profit organizations for the development of real estate projects and community development. Communicate with internal and external development team members (i.e.  staff, architect, contractor, counsel, & other consultants).
  • Manage loan pipeline tracking system and provide regular status updates to the TREC Community Investors Loan Committee and Senior Director of Community Investment.
  • Together with the Manager of Community Investment, manage borrower reporting and impact tracking. Request, receive and record borrower reports. Monitor loan agreement compliance. Collect and maintain TREC CI impact data. Timely and accurately enter required information into TREC CI’s asset management software.
  • Review and process modification requests and present the request to the Senior Director of Community Investment with multiple options and a recommendation.
  • Review and manage all loan draw requests, reviewing compliance with loan agreement and construction budgets.
  • Manage borrower invoicing and receipt of loan payments.
  • Monitor compliance of investor/lender covenants.
  • Support fundraising efforts as they relate to TREC CI lending and local program activities.
  • In support of TREC CI staff, research regulatory and programmatic issues.
  • Maintain loan system, update as loans are closed and amended, including rate changes, fund changes, etc.
  • Prepare compliance reports required by TREC CI’s lenders, as well as regular monitoring and reporting as required by the loan agreement.
  • Prepare any reports as required by the CDFI Fund or other investors.
  • Actively participate in internal discussions with ideas and suggestions.
  • Perform other duties and responsibilities, as assigned.

All TREC CI staff share a common competency framework. This guides our approach and in turn, helps us create value. Successful candidates will be adaptive, entrepreneurial problem solvers with a demonstrated commitment to community and economic development. TREC CI seeks candidates driven by strategic thinking, executed with creativity and flexibility with an ability to adapt approach, strategy, and tactics rapidly in response to changing information or program need. It is important to articulate and strategically pursue new visions and ideas for TREC CI’s missions. The ideal candidate would be:

  • Entrepreneurial:
    • Seeks and advances new opportunities and partnerships; tries new approaches to existing work.
  • Strategic:
    • Assesses situations and opportunities and translate them into plans of action. Understands how to work through formal channels, informal networks and with partners in varied public sectors and philanthropic settings.
    • Communicates vision and persuades others.
  • Accountable:
    • Possesses strong analytical, interpersonal, presentation and written and verbal communication skills.
    • Sets a high focus for personal and team performance with a focus on results.
  • Pragmatic:
    • Effectively manages many projects simultaneously; including large multi-site, multi-year programs and ensuring program compliance are required. Must be adept taking initiative and pursuing program goals with minimal supervision.
  • Collaborative:
    • Establishes excellent relationships and work cooperatively with individual, groups and organizations that are diverse in mission, composition, function, capacity and geographic location.
    • Finds common ground and effectively facilitates discussion among stakeholder groups with divergent views.
    • Develops and delivers cogent and compelling presentations to varied audiences.


  • Bachelor’s degree required.
  • Minimum of 2 years of experience in loan origination and asset management.
  • Competency in underwriting and financial analysis also required. Some knowledge of funding of low-income and affordable housing programs or community development activities is preferred though not required.
  • Some knowledge of the Low Income Housing Tax Credit program, New Markets Tax Credit program and other federally funded affordable housing and development financing programs.
  • Experience in evaluating and underwriting investments in a variety of commercial real estate project type facilities a plus.
  • Demonstrated interest in community and economic development in low-to-moderate income communities.
  • Excellent verbal and written communication skills.
  • Strong analytical, interpersonal, communication and presentation skills.
  • Demonstrated skills using Microsoft Office.
  • Experience with DownHome Solutions and Raiser’s Edge a plus.
  • Demonstrated experience at managing multiple assignments effectively.
  • Candidates must be able to take initiative and pursue program goals with minimal supervision.

Compensation based on qualifications.  Please provide salary requirements.

Interested?  Contact Felicia Pierson at


Application Instructions

Please submit your resume and cover letter and include salary requirements to  Please no phone calls.