Director, Loan Underwriting

Company: Cinnaire

Locations: Lansing, MI; Detroit, MI; Grand Rapids, MI; Chicago, IL; Indianapolis, IN; Madison, WI; Wilmington, DE

Job Function: Lending/Loan Operations


Cinnaire is a mission-driven organization. Our team of more than 130 individuals are united by our core purpose. As dedicated problem solvers, we start each day thinking ‘what kind of difference can we make in people’s lives today?’ and then go about revitalizing communities, empowering individuals and creating economic opportunities.

We get involved. We spend time on the ground in the communities we serve, getting to know the people, understanding their challenges, and devising out-of-the-box solutions. Ours is a people-first approach to advancing communities. As a community development financial organization, we provide creative capital solutions to projects with high social value that may not otherwise receive support from traditional financial institutions. Our toolkit of services includes programs that lend funds, finance development and manage and build all the components of strong, vibrant communities.

We help community development organizations, lending partners and socially motivated investors accomplish goals in underserved communities. We fill gaps in community development funding by leveraging capital from public and private sector organizations and bringing expertise to communities that need it most.

Since 1993, Cinnaire has funded affordable housing developments and community development initiatives throughout the Midwest and Mid-Atlantic states. Headquartered in Lansing Michigan, we have offices in Detroit and Grand Rapids, MI:, Milwaukee and Madison, WI; Chicago, IL; Indianapolis, IN; and Wilmington, DE, while providing financial and development support across our nine-state footprint including Michigan, Wisconsin, Minnesota, Indiana, Illinois, Pennsylvania, New Jersey, Delaware and Maryland.


The Director, Loan Underwriting (DLU) oversees the Loan Underwriting team, which structures and underwrites affordable housing and community development loan transactions, identifying and mitigating risks to ensure borrower success and loan repayment.  The DLU manages overall workflows to ensure loans progress efficiently through the pipeline, supervising team members in their day-to-day work, and providing ongoing coaching and training to ensure that the team is adhering to best practices in CDFI lending.


  1. Directs, manages, and trains the underwriters, analysts, and loan processors who make up the Loan Underwriting team.
  2. Oversees contract underwriters to ensure high-quality work and responsiveness to borrowers.
  3. Plans, implements, and oversees underwriting workflows, systems, and business processes in alignment with organizational goals and technology advancements in the organization.
  4. Ensures that loan transactions move efficiently through the underwriting and credit approval process.
  5. Maintains loan underwriting guidelines in accordance with Cinnaire Lending loan policies, investor expectations, and CDFI industry standards.
  6. Oversees the annual submission of AHP applications to the Federal Home Loan Bank of Chicago.
  7. Develops and implements an effective ongoing training program for members of the Underwriting team.
  8. Develops and monitors department and individual goals of the Underwriting team.
  9. Develops and maintains effective business relationships with borrowers, participant lenders, investors, attorneys, and consultants.
  10. Develops and maintains relationships with the Loan Originations team, Loan Closing Manager, Director of Portfolio Management, and Cinnaire’s Equity Underwriting team.
  11. Participates in Loan Committee meetings and other meetings as assigned.


Qualifications and Skills:

  • Minimum 10 years’ experience in affordable housing or community development lending, including extensive underwriting experience for a variety of loan types.
  • Extensive experience with a variety of affordable housing and community development subsidy sources.
  • Bachelor’s Degree in real estate, finance, or business required.
  • Master’s Degree preferred but not required.

Key Competencies:

  • Leadership Development: Coaches and develops others by seeking to understand their strengths and developmental needs
  • Insight to Action: Acts on conviction and advances from concept to implementation toward a goal; draws upon knowledge and professional judgment to orchestrate the steps required to achieve results.
  • Intellectual Agility: Flexes and adapts thinking skills to meet the needs of different situations and circumstances; does not limit problem solving to one approach of methodology.
  • Analysis to Synthesis: Interprets data and information from multiple sources and translates them into coherent messages that inform decisions.

Reporting Relationship: Reports to Senior Vice President, Loan Origination Services

Supervisory Relationship: Senior Loan Underwriters, Loan Underwriters, Assistant Loan Underwriters, Loan Analysts

Physical Requirements:

  • Ability to work on a computer for extended periods of time.

Travel Required: 20%

Compensation and Benefits

Cinnaire offers a competitive compensation package.

Benefits Offered: Medical, Health Reimbursement Account, Flexible Spending Accounts (medical and dependent care), Dental, Vision, Life Insurance, Accidental Death & Dismemberment, Long-Term Disability, Employee Assistance Plan, Pet Insurance, Identity Theft Protection, Paid Mobile Phone Service, Unlimited PTO, Incentive Compensation, 403(b) Plan, and Profit-Sharing Plan.

How to Apply