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.
Summary of Position:
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 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.
Roles and Responsibilities:
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
Underwrite loans and prepare loan packages
Present loan packages to Mortgage Committee
Prepare loan commitments
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 preferred.
Comparable work experience will be considered
A demonstrated understanding of the local commercial real estate market
Experience underwriting subsidized residential development
Minimum of five years affordable housing finance experience required
Thorough knowledge of financial underwriting and ability to verify the viability of a deal, from initial underwriting through Loan Package preparation, 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
This is a hybrid role where you will work from the Albany office two – three days a week.
The salary range is $120,000 – $135,000, dependent on experience.
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