Location: New York,NY, USA
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.
About CPC Climate Capital:
CPC Climate Capital is a new subsidiary of The Community Preservation Corporation and will be a subrecipient of Climate United Fund, the recipient of a $6.97 billion grant from the National Clean Investment Fund established by the federal government as part of the Inflation Reduction Act (IRA). CPC Climate Capital will use its subaward of approximately $2.4 billion to decarbonize multifamily housing by making subordinate debt financing available to owners of multifamily housing nationally. These investments will reduce or eliminate on-site fossil fuels, thereby reducing greenhouse gas emissions. Our climate goals will be simultaneously delivered against other critical national priorities, including the creation and preservation of affordable housing, promoting equity and environmental justice, and supporting high-quality jobs.
For more information, please visit us at CPCClimateCapital.com
Role Summary:
The role of the VP, Production is to help lead CPC Climate Capital's loan production across a variety of multi-family lenders and direct the coordination of originations activity with CPC and CPC Mortgage Company, consistent with CPC Climate Capital's mission, the EPA, and Federal regulations. The position is responsible for customer management, loan sizing and screening for economic and technical compliance, and transaction management. Strong emphasis is placed on ensuring that all deals meet the CPC Climate Capital's loan performance standards and carbon reduction targets. The VP, Production will be uniquely skilled in both mortgage finance and building decarbonization. They must be able to interface with lenders and explain the details of building decarbonization. This leadership role will also manage the loan pipeline and process ensuring that loan approvals happen in an efficient process with interface and approval from the Risk and Credit team.
What You'll do:
* Develop the loan production infrastructure, policies, and processes to scale and create efficiencies across the first mortgage markets.
* Represent CPC Climate Capital in industry meetings, convening and conferences in support market building and business development.
* Oversee loan production team and manage Analysts, Senior Analysts and Managers.
* Manage relationships with customers and build new deal pipeline.
* Analyze the financial, physical, and market suitability of loan applications to CPC Climate Capital's requirements.
* Work with owners, contractors, engineers, architects, and subsidy providers to structure loan transactions.
Skills and Experience:
* Minimum of 10 years' experience in multifamily real estate lending, with understanding and experience with decarbonization of building standards processes strongly preferred. Comparable work experience will be considered.
* BA/BS required. Master's Degree in a related field is preferred.
* A demonstrated understanding of Sustainability and Affordable Housing and national multifamily real estate market.
* Demonstrated expertise in financial statement underwriting, risk assessment, and deal structuring, particularly for subsidized deals and projects preferred.
* Advanced analytical skills to evaluate and ensure compliance with loan performance standards and carbon reduction targets.
* Thorough knowledge of the various requirements of lenders, co-lenders, investors, and other parties to construction and permanent 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.
* Creative problem-solving abilities to develop innovative financing solutions and identify new business opportunities and initiatives to expand CPC Climate Capital'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 hybrid role that can be based in either NYC and would work out of our Manhattan office 2 - 3 days a week or remote in Washington DC and will need to periodically travel to our Manhattan office. The salary range is $175,000 - $200,000, 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.