Director - LIHTC Proprietary Investments

Playing an essential role in the U.S. economy, Fannie Mae is foundational to housing finance. Here, your expertise can help fuel purpose-driven innovation that expands access to homeownership and affordable rental housing across the country. Join Fannie Mae to grow your career and help people find a place to call home.

Job Description

At Fannie Mae, futures are made. The inspiring work we do helps make homeownership and affordable rental housing possible for millions. Every day brings opportunities to make a meaningful impact on the housing finance system while working within an inclusive, flexible, and collaborative environment. Here, you can grow your career while helping expand access to fair and affordable housing.

Since relaunching its Low-Income Housing Tax Credit (LIHTC) equity platform in 2018, Fannie Mae has invested over $5 billion across proprietary and multi-investor funds. As a Director on the LIHTC Proprietary Investments team, you will play a key leadership role managing a pipeline of proprietary LIHTC equity investments, overseeing underwriting and closings, and leading a team of underwriters.

THE IMPACT YOU WILL MAKE

The Director – LIHTC Proprietary Investments role provides the opportunity to shape and execute affordable housing investments while leading a high-performing team. In this role, you will be responsible for:

• Structuring, underwriting, and closing proprietary LIHTC equity investments in collaboration with syndicator partners.
• Maintaining overall responsibility for the investment review, approval, and execution process for proprietary investments, including coordination across internal and external stakeholders.
• Identifying and assessing the risk profile of LIHTC equity investments to ensure alignment with credit, investment, tax and regulatory guidelines.
• Coordinating with internal partners and external stakeholders to establish key milestones and ensure seamless execution from underwriting through closing.
• Partnering with management to recommend business solutions and strategies based on market insights, portfolio performance, and internal data analysis.
• Leading, coaching, and developing a team of underwriters by providing guidance, mentoring, training, and ongoing performance feedback.
• Communicating clear priorities and direction for the team while actively participating in performance management and talent development efforts.
• Collaborating with internal stakeholders—including Sponsor Surveillance, Legal, Risk, and Compliance—to ensure adherence to all policies, procedures, and regulatory requirements.
• Participating in special projects and cross-functional initiatives as needed.
• Traveling to markets and prospective investments to support underwriting, diligence, and relationship management (up to 25%).

THE EXPERIENCE YOU BRING TO THE TEAM

Minimum Required Experience

• 8+ years of LIHTC equity experience with a demonstrated track record of underwriting and closing proprietary LIHTC investments while maintaining strong product and credit quality.
• Proven expertise in modeling, structuring, and executing LIHTC proprietary investments.
• Experience managing complex projects, tight timelines, and multiple priorities in a fast-paced environment.
• Proven ability to lead, mentor, and manage teams while driving performance and professional development.
• Strong analytical, verbal, written, and presentation skills, with the ability to clearly communicate complex concepts.
• Demonstrated ability to influence outcomes through negotiation, persuasion, facilitation, and conflict resolution.
• Solid knowledge of tax, accounting, and regulatory considerations related to LIHTC equity investments.
• Strong relationship management skills with the ability to effectively engage internal stakeholders, partners, customers, and vendors.
• Highly motivated, detail-oriented self-starter with sound judgment.
• Ability to travel overnight up to 25%.

• Curiosity and adaptability learning and responsibly applying new techniques, including artificial intelligence, to reimagine how we work

Desired Experience

• 10+ years of LIHTC equity experience underwriting and closing proprietary investments.
• Bachelor’s degree or equivalent; Master’s degree preferred.
• Proven success leading projects and solving complex business challenges.
• Strong interpersonal skills with the ability to collaborate effectively across diverse functional teams.
• A team-oriented mindset with enthusiasm for working in a dynamic, evolving environment.

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Qualifications

Education:

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For most roles, employees are expected to work onsite on a regular basis at their designated office location. In-office work cadence is determined by your manager. Proximity within a reasonable commute to your designated office location is preferred unless the job is noted as open to remote.

Fannie Mae is an equal opportunity employer and considers qualified applicants for employment without regard to race, color, religion, sex, national origin, disability, age, sexual orientation, gender identity/gender expression, marital or parental status, or any other protected factor. Fannie Mae is committed to providing reasonable accommodations to qualified individuals with disabilities who are employees or applicants for employment, unless to do so would cause undue hardship to the company. If you need assistance using our online system and/or you need a reasonable accommodation related to the hiring/application process, please complete this form.

The hiring range for this role is set forth below. Final salaries will generally vary within that range based on factors that include but are not limited to, skill set, depth of experience, certifications, and other relevant qualifications. This position is eligible to participate in a Fannie Mae incentive program (subject to the terms of the program). As part of our comprehensive benefits package, Fannie Mae offers a broad range of Health, Life, Voluntary Lifestyle, and other benefits and perks that enhance an employee's physical, mental, emotional, and financial well-being. See more here.

Requisition compensation:

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