About Us:
The Community Preservation Corporation (CPC) believes stable and sustainable affordable housing is the foundation of strong communities and we strive to contribute to comprehensive neighborhood revitalization through our lending and partnerships. A nationally recognized leader in affordable housing finance, CPC has provided a consistent source of capital to underserved housing markets throughout New York State since our inception in 1974.
Today, CPC stands as the largest CDFI solely committed to investing in multifamily housing, having invested more than $15 billion to finance the creation and preservation of more than 230,000 units of quality housing in neighborhoods across New York State and beyond. CPC has a robust construction lending platform, a mortgage bank, and equity and impact investment platforms that focus on our three goals: Expanding Affordable Housing, Closing the Racial Wealth Gap and Investing in the Green Economy.
As a member of our team, you'll have the opportunity to work on impactful projects that make a real difference in people's lives. We're looking for talented individuals who are passionate about our mission and share our values of commitment, respect, excellence, accountability, and collaboration.
Role Summary:
To assist mortgage officers by providing due diligence support for the origination, closing and conversion of loans. Responsible for ensuring all necessary loan documents are accurate and delivered to the Portfolio Services department in a timely manner. Order third party reports (credit, appraisal, engineering and environmental) and process invoices for payment. Report on status of loans for closing/conversion readiness.
What You’ll do:
- Prepare closing and other related packages for Construction and Permanent Loans, including loan conversions and SONYMA for submission to the Portfolio Services department.
- Order, review and track third party reports.
- Provide and maintain loan closing checklists and collect all project related documents needed for loan closing. Work with Closings Coordinator, Borrower, and Mortgage Officer to complete the closing package.
- Participate in regularly scheduled conference calls and work with Borrower, PSD and attorneys towards loan closing.
- Collect and review items needed for closing/conversions (construction contract, architect items, insurance etc.) and confirm compliance with CPC’s credit policy.
- Review loan applications and complete due diligence on borrower and their development teams, such as references and credit checks. Perform market research as needed for individual projects.
- Prepare term sheets and commitment letters in cooperation with mortgage officers following credit approval of loans. Review SONYMA commitments for pension fund permanent loans.
- Maintain and frequently update loan closing tracking system (HubSpot).
- Oversee scanning of all project related documents to document management system (SharePoint).
- Work with the External Affairs Department and Mortgage Officers to maintain contact lists, schedule and coordinate events, conferences, sponsorships and purchase event tickets.
- Maintain all office administrative and project files.
- Perform administrative tasks, as required.
Skills and Experience
- BA/ BS required with 4+ years of mortgage originations experience.
- Understanding of commercial real estate loan processing and documentation.
- Strong analytical ability.
- Comprehension of the elements of a mortgage offering, and a clear understanding of the steps necessary to successfully close a deal.
- The ability to understand other parties’ needs and to explain clearly the soundness of a given problem’s solution.
- The ability to successfully work with others as a team, including listening, negotiating and leadership skills.
- Strong proficiency in Microsoft Word, Excel and PowerPoint.
- Superior communication skills.
- Excellent customer service skills.
- Ability to multi-task and prioritize responsibilities.
- Proactive and self-motivated.
What We Offer:
- Competitive compensation
- 401(k) retirement plans with employer match
- Medical, dental, and vision benefits for employees and their dependents
- Commuter benefits
- PTO for vacation, personal days, sick leave, holidays, jury duty, bereavement, parental leave, and disability
- Tuition assistance program
- Two “work from anywhere” weeks per year
- Summer Fridays
- Collaborative working spaces
- Service days to support our communities
- Employee development and engagement events
- More about our offerings and culture here
This is a full-time, hybrid role where you will work from the Manhattan office two - three days a week. The salary range is $65,000 – $80,000, dependent on experience.
The Community Preservation Corporation is an Equal Opportunity Employer and all employment-related decisions including recruitment, selection, evaluation, promotion, compensation, training and termination are made without regard to race, creed, color, national origin, sex, disability, marital status, status as a veteran, sexual orientation or gender identity, or any other protected status.
