Exhibit
31-2

CERTIFICATIONS



I, Melanie
R. Wenk, certify that:



|1. | I
    have reviewed this quarterly report on Form 10-Q of WNC HOUSING TAX CREDIT FUND V, L.P., Series 4:                                                                                                                                                                                                                                    
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|2. | Based
    on my knowledge, this quarterly report does not contain any untrue statement of a material fact or omit to state a material
    fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading
    with respect to the period covered by this quarterly report;  
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|3. | Based
    on my knowledge, the financial statements, and other financial information included in this quarterly report, fairly present
    in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the
    periods presented in this quarterly report;                     
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|4. | The
    registrant’s other certifying officer and I are responsible for establishing and maintaining disclosure controls and
    procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) for the registrant and we have:                                                                                                      
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|   | (a)                                                                                                                                                                                                                                                                                                                                         
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|   | (b)                                                                                                                                                                                                                                                                                                                                         
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|   | (c)                                                                                                                                                                                                                                                                                                                                         
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|5. | The
    registrant’s other certifying officer(s) and I have disclosed, based on our most recent evaluation of internal control
    over financial reporting, to the registrant’s independent registered accounting firm and the audit committee of the
    registrant’s board of directors (or persons performing the equivalent functions):
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|   | (a)                                                                                                                                                                                                                                                                                                                                         
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|   | (b)                                                                                                                                                                                                                                                                                                                                         



|Date:
    November 4, 2013.                                            | 
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|/s/
    Melanie R. Wenk                                                | 
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|Vice-President
    - Chief Financial Officer of WNC & Associates, Inc. |