Mortgage Officer
: Job Details :

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:

The role of the Mortgage Officer is to originate Construction and Permanent Loans on a basis consistent with CPC's mission. The position is responsible for initial underwriting and analysis for appropriate risk, for actively monitoring projects through construction and conversion, and for identifying and addressing problem loans in both the construction and permanent portfolio.

The Mortgage Officer is considered the Subject Matter Expert in their field and supports management by rendering their advice and recommendations to the leaders of the business. They are also instrumental in the creation and carrying out of management policies and procedures.

What You'll do:

* Market CPC's Loan Products;

* Develop leads for new customers and manage relationships with existing customers;

* Analyze the financial, physical and market suitability of loan applications to CPC requirements;

* Work with owners, contractors, engineers, architects, and subsidy providers to structure loan transactions;

* Present Loan Packages to Mortgage Committee;

* Prepare Loan Commitments;

* Oversee Assistant Mortgage Officer(s) to ensure that Due Diligence is performed on all Loan Applications;

* Interact with Portfolio Servicing Department to ensure a smooth closing to conversion process;

* Act as liaison between Property Owner, Subsidy Providers and CPC;

* Monitor progress of Construction Projects;

* Monitor Delinquent Loans and Work-out Plans.

Skills and Experience

* BA/BS required. Master's Degree in a related field is preferred. Comparable work experience will be considered.

* A demonstrated understanding of the local commercial real estate market.

* Experience underwriting subsidized residential development; in particular, familiarity with HPD's Participation Loan Program.

* Minimum of five years affordable housing finance experience required.

* Thorough knowledge of financial underwriting and ability to verify the viability of a deal from the mortgage offering, and to explain such viability to borrowers, mortgage committee, and others.

* Thorough knowledge of the various requirements of lenders, co-lenders, investors, and other parties to construction lending.

* Thorough knowledge of the practical steps needed to meet lending requirements, and how to modify a business deal to meet such constraints and requirements.

* The ability to understand other parties' needs, and to explain clearly the soundness of a given problem's solution.

* The ability to be creative in searching out other business initiatives not currently part of CPC's product portfolio.

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 Buffalo office two - three days a week. The salary range is $100,000 - $115,000, 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.