Underwriting Specialist

Job Description and Duties

Under direction of the Housing Finance Officer (Rental), the Housing Finance Specialist (Rental) is responsible for assisting in Multifamily Loan Production and independently performs technical and analytical work necessary to facilitate a larger number of loan closings on multifamily rental projects.

Cutoff dates for application review: 9/30/2026

To be considered for this position, candidates must meet the minimum qualifications listed below and take the Housing Finance Specialist (Rental) examination (EX-4329)

Minimum Qualifications
(Requirements for admittance into the exam)

Either I
One year of experience in the mortgage operations of the California Housing Finance Agency at a level of responsibility equivalent to that of a Housing Finance Associate.

Or II
Experience: Three years of experience performing technical work in the field of mortgage underwriting which must have included underwriting for multiunit projects (at least 100 units.) (A Master's Degree in Planning, Economics, Business, Government, Finance or a related field may be substituted for one year of the required experience) and

Education: Equivalent to graduation from college, preferably in planning, economics, business, government, finance or a related field (Additional qualifying experience may be substituted for the required education on the basis of one year of experience equals two years of college.)

You will find additional information about the job in the .

Working Conditions

Hybrid telework schedules are available. The amount of telework is at CalHFA’s discretion and is based on operational needs.  IN-PERSON ATTENDANCE WILL BE REQUIRED WEEKLY .

Our office is in 500 Capitol Mall , a high-rise building conveniently located in downtown Sacramento with access to public transportation (light rail and bus) and freeways (I-5, 99, and Business 80). It is one block from Downtown Commons (DOCO), the Golden 1 Center, and many restaurants. Employees also have free access to the gym located in the building.

Candidates who are new to state service will be placed at the minumum of the salary range.

Visa Sponsorship: Applicants must be authorized to work for ANY employers in the U.S. CalHFA is unable to sponsor or take over sponsorship of an employment visa. CalHFA does not participate in the Science, Technology, Engineering, and Math Optional Practical Trianing extension program (STEM OPT).

Please let us know how you learned about this career opportunity by taking a brief survey .

Special Requirements

The Employment History section of the STD 678 Employment Application must be complete and include accurate dates, hours per week, total time worked, duties performed, and supervisor names and phone numbers.

• Applicants who fail to submit a thoroughly completed STD 678 will be disqualified.
• Resumes or other documents do not substitute the STD 678.
• Only the most qualified applicants will be invited to an interview.

Use these links to review the  State Application Checklist and  Supplemental Application checklist  to help you understand how to complete a strong state application and address some frequently asked questions.

In order to be considered for this job, you must satisfy one of the following requirements:

BE LIST ELIGIBLE :
Successfully complete the State civil service exam for the Housing Finance Specialist (Rental)classification

OR

BE TRANSFER ELIGIBLE:
Have current employment with the State of California in the same classification or in a classification that is comparable (employees who wish to be considered based on transfer eligibility must meet the minimum qualifications of the classification per DPA Rule 250)

OR

BE REINSTATEMENT ELIGIBLE: 
Have obtained previous permanent employment with the State of California in the same classification or in a classification that is comparable.

Benefits

Benefit information can be found on the CalHR website and the CalPERS website.

Required Application Package Documents

The following items are required to be submitted with your application. Applicants who do not submit the required items timely may not be considered for this job:

• Current version of the State Examination/Employment Application STD Form 678 (when not applying electronically), or the Electronic State Employment Application through your Applicant Account at All Experience and Education relating to the Minimum Qualifications listed on the Classification Specification should be included to demonstrate how you meet the Minimum Qualifications for the position.
• Resume is optional. It may be included, but is not required.
• Supplemental Application - A response to the highlighted question below is required to be considered for this position.
  Failure to follow all instructions and provide a relevant response to the question may disqualify an applicant from consideration . Resumes, cover letters, or general statements will not be accepted in place of the required response.
  Your Supplemental Application must :
  - Be in 12-point font, single spaced
  - Be one (1) page in length
  - Include the highlighted question above your response
  Please describe how you prepared for the Housing Finance Specialist (Rental) exam.

• Other -
  To be considered for this job, you must establish list eligibility by completing and passing the examination for the Housing Finance Specialist (Rental) classification . Candidates must be reachable on the eligible list before they can be considered for this position. Please use the link above to review the exam bulletin and apply to take the exam.
  Once you finish reviewing and applying for the exam, you may Bypass this item to move forward with your application by selecting Choose/Upload> Bypass File.