Senior Associate, Underwriting

LISC is one of the country’s largest community development organizations, helping forge vibrant, resilient communities across America. LISC works with residents and partners to close gaps in health, wealth, and opportunity so that people and places can thrive. We do this by acting as a conduit for grants, loans and equity--and by providing technical assistance and capacity building--to locally rooted organizations that carry out the work in communities.

About LISC Fund Management – Where community and capital grow together

LISC Fund Management (LFM) is a national impact investment platform that designs, raises, and manages mission-driven funds to expand access to capital for housing and small businesses in communities across the country. Drawing on LISC’s deep expertise in community development financing, LFM (a LISC subsidiary), connects private, public, and philanthropic capital to local initiatives that drive inclusive economic growth and long-term community stability.

As an SEC-registered investment advisor, LFM partners with cities, investors, developers, and community stakeholders to deliver innovative public-private solutions that balance measurable impact with responsible financial returns. Our work is grounded in the belief that capital, when thoughtfully deployed, can be a powerful tool for advancing opportunity and strengthening communities nationwide.

Our Vision

To become a national investment partner — delivering innovative public-private solutions that scale local investment, drive high impact, and generate responsible returns.

Our Mission

Harnessing LISC’s expertise in community development financing to expand investment opportunities in housing and small business — connecting capital to community initiatives and driving sustainable growth nationwide.

Our Core Values

Partnership • Opportunity • Performance • Stewardship • Innovation

These values guide how we collaborate, invest, manage risk, and measure success — ensuring accountability to our investors, partners, and the communities we serve.

How We Work

LFM operates as an integrated investment platform, aligning capital raising, investment execution, and long-term fund stewardship to deliver measurable impact and responsible returns. Our teams work collaboratively across the full fund lifecycle — from concept and capitalization through deployment, asset management, and reporting — ensuring continuity, accountability, and strategic alignment at every stage.

We bring funds to market through our Fund Development and Marketing department, building strong investor partnerships and clearly communicating both impact and performance. Our Fund Investment and Asset management department ensures disciplined underwriting, active portfolio oversight, and long-term value creation for communities and investors alike. Fund Management and Finance provides the financial rigor, transparency, and fiduciary oversight required of an SEC-registered investment advisor, while Operations and Administration ensure compliance, governance, and scalable internal systems that support sustainable growth.

Together, this integrated approach allows LFM to connect capital to community initiatives efficiently and responsibly — turning local investment into lasting, national impact.

Position Description

The Senior Associate, Underwriting & Fund Investments is an experienced affordable housing underwriter responsible for independently managing complex multifamily transactions from initial intake through underwriting, Investment Committee approval, and closing. The position is expected to manage active transactions at varying stages, applying strong credit judgment and financial analysis to evaluate affordable housing investments across LFM’s national portfolio.

The Senior Associate will lead lender-side underwriting of affordable multifamily transactions, including analysis of project economics, sponsor capacity, market conditions, public subsidies, and financing structures. The role requires the ability to identify and articulate key risks, develop appropriate mitigants, anticipate Investment Committee questions, and clearly co-present investment recommendations. Experience with HUD and Fannie Mae/Freddie Mac multifamily programs is particularly relevant, while experience with tax credits, New Markets Tax Credits, and equity investments is beneficial.