Director/Sr Director, FHA Originations

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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 :

This Originator role will be responsible for sourcing and originating multifamily mortgage loans for the CPC and FHA portfolio.

To Develop and maintain long-term relationships with appropriate centers of influence to drive origination activities, including, but not limited to : Sponsors, developers, owner operators, builders, attorneys, financial advisors and other external sources.

The successful candidate will meet or exceed annual sales, revenue, volume & new customer objectives.

What You’ll do :

• Originate FHA business on behalf of CPC Mortgage Company; open to originating Agency (Freddie Mac and Fannie Mae) as well.
• Work independently to develop and cultivate new borrower relationships and business opportunities.
• Structure permanent mortgage loans in accordance with CPC, FHA, and / or Freddie Mac and Fannie Mae, requirements.
• Provide exceptional customer service to borrower, and borrower’s deal team by maintaining open and production communication
• Shepherd transactions and borrowers through complete deal life cycle, from inception through screening and quote process, underwriting and ultimately to closing and servicing.
• Analyze the financial, physical and market suitability of loan in accordance with CPC, FHA, and / or Freddie Mac and Fannie Mae requirements.
• Gather all necessary financial and general business information in coordination with borrower and other financial partners to facilitate transaction.
• Prepare, review, analyze, and interpret financial analyses including cashflow and returns projections, rent rolls, budgets, and leases to determine transaction needs and the economic value of multiple transaction scenarios.
• Review applications prior to submission to Agencies for completeness and details reflect all important facets of the transaction.
• Lead regularly scheduled calls / meeting with borrower and stakeholder teams to facilitate information sharing / gathering and facilitate closing.
• Preparation of basic management reports summarizing loan activity and assist with maintenance of office pipeline reports.
• Communicate and problem-solve with teammates, clients, and other stakeholders. Collaborate with CPC’s production, underwriting, capital market, and closing teams to provide customers with a best-in-class execution.
• Monitor and maintain a real estate tracking system to ensure timely transaction completion
• Work closely with Underwriting, Insurance, and Legal team members to ensure all required information is provided and completed.
• Identify any pricing and credit implications that should be considered in Agency quotes.
• Contribute to new business processes, standards, and / or operational plans in support of achieving goals and improving customer experience.
• Stay abreast of changes of Agency terms, policies or programs.
• Stay on top of real estate and financial market trends to substantiate underwriting assumptions.
• Maintain up to date customer information and data within a customer relationship management system, using it to track on-going interactions with the customer.
• Perform other duties, as directed or required.

Skills and Experience

• Bachelor’s degree required. Master’s degree preferred.
• 10 years of multifamily mortgage origination experience
• Comprehensive understanding and experience of FHA and other multifamily lending platforms.
• Proven ability to build and maintain strong customer relationships required.
• Proficient in the understanding of affordable housing lending requirements including, but not limited to, Tax-Exempt Bond executions and the Low Income Housing Tax Credits (LIHTC) Program, along with other affordable housing programs.
• Strong sales, interpersonal, verbal, and written communication skills.
• Ability to explain difficult or sensitive deal related information.
• Strong quantitative and analytical skills, as well as demonstrated problem solving skills essential.

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 either the Manhattan office two - three days a week or remote in Washington DC, GA, MD, PA, MA, IL, CA, MN, WA with periodic travel to Manhattan office.

The salary range is $125,000 $175,000, 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.

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