At CPC, we believe that housing is central to transforming underserved neighborhoods into thriving and vibrant communities. That’s what we’re about: providing innovative capital solutions, fresh thinking, and a collaborative approach to the often complex challenges that owners and developers of multifamily housing face.
As a leading nonprofit affordable housing and community revitalization finance company, we utilize our deep, strategic relationships with government agencies, local community groups, banks, and other lenders to create customized loan opportunities for our customers. As a trusted partner in your success, we work hand-in-hand with you to help maximize the potential of your multifamily project and its impact on the community.
CPC was formed in 1974 as a direct response to the issues of property abandonment and blight that New York City was facing at the time. Each year, between 20,000 and 30,000 rental units were being lost in to abandonment, fire, or demolition, and the City was taking ownership of hundreds of buildings through foreclosure and forfeiture.
In response to a 1972-73 study conducted by the New York City Clearing House, an association of commercial banks, and the banking community, led by David Rockefeller, stepped up with a proposal to address the problem. Perhaps, focusing a small amount of pooled capital on a few neighborhoods-namely Crown Heights in Brooklyn and Washington Heights in Manhattan—would improve building quality and people’s living conditions, and help prevent the blight in surrounding neighborhoods from destabilizing them. CPC was founded in 1974 to be a self-sustaining vehicle, a departure from many nonprofits, which rely on regular injections of charitable support.
Today, CPC stands as the largest CDFI solely committed to investing in multifamily housing, having invested more than $11 billion to finance the creation and preservation of 196,000 units of quality housing in neighborhoods across New York State and beyond.
At CPC, our values define who we are as an organization and guide the way we work with our partners, within our communities, and with each other.
President & CEO Rafael E. Cestero reflects on a year unlike any other in his Fiscal Year 2020 President’s Message.
The CPC Operating Committee is the primary internal management body responsible for driving CPC’s business objectives and strategic direction in support of our mission. This Committee works in close collaboration with the Board of Directors to establish organizational priorities and identify ways to expand CPC’s impact in communities.
Executive Vice President
Construction Lending & Initiatives
Vice Chair, Operating Committee
President
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President & CEO
The Community Preservation Corporation
Managing Director and Global Head of Real Estate and Asset Finance
Credit Suisse
Faculty Director
NYU Furman Center for Real Estate and Urban Policy
Senior Vice President
Bank of America
Senior Advisor (Ret.)
CCMP Capital Advisors, LLC
Real Estate/Legal Consultant
Senior Vice President – Multifamily Chief Credit Officer (Ret.)
Fannie Mae
Managing Director, Acquisitions
Red Stone Equity Partners, LLC
Chairman
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CEO and President, Chemung Canal Trust Company
President, Capital Bank
Partner
Cannon Heyman & Weiss, LLP
Managing Director
Wells Fargo Multi-family Capital
The Portfolio Administrator will administer construction loan advances for a book of loans in connection with affordable housing projects financed by CPC and which support CPC’s mission of transforming underserved neighborhoods into thriving and vibrant communities.
For more information, apply here:
The Mortgage Originator will be responsible for sourcing and originating multifamily mortgage loans for the CPC Freddie Mac, Fannie Mae and FHA portfolio. The Mortgage Originator will also develop and maintain long-term relationships with appropriate centers of influence to drive origination activities, including, but not limited to: brokers, realtors, builders, attorneys, financial advisors and other external sources.
For more information, apply here:
The Asset Management Analyst will support the Asset Management team which protects the value of the collateral for CPC serviced, multi-family loan portfolio (“Portfolio”). The Asset Management Analyst will also identify and mitigate the credit, financial, operational, physical, and market risks impacting the properties collateralizing the Portfolio. Additional responsibilities include supporting the Asset Management team with day‐to‐day risk management activities for the Portfolio, and organizing, administering and supporting the team’s activities with borrowers; guarantors; local, state and federal government agencies; developers; owners; managers; agency lending partners; and other industry groups to preserve the value of the multi-family housing financed by the mortgage loans.
For more information, apply here:
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 originated by the incumbent.
The Mortgage Officer is considered the Subject Matter Expert in on affordable housing mortgage origination in their region 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.
For more information, apply here:
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 originated by the incumbent.
The Mortgage Officer is considered the Subject Matter Expert in on affordable housing mortgage origination in their region 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.
For more information, apply here:
The Business Analyst, Data and Digital Platforms will be a strategic leader and key contributor to the development and implementation of new CPC data and digital platforms. The Business Analyst will maintain deep domain knowledge of all aspects of CPCs business processes and how data is used and managed across departments and systems (from origination, underwriting, closing, loan servicing and finance).
The incumbent will also work closely with data architecture to inform the documentation of current state and future data architecture and solutions (including solutions that support the collection of new data. Additional responsibilities include leading the Data Enablement program including establishing and leading a Data Governance capability.
For more information, apply here:
Our staff is growing and we are currently recruiting for an Asset Manager to join our team. Although our Asset Managers are based in our office in Chappaqua, NY, we will consider remote applicants for this position.
The Asset Manager will implement the day-to-day risk management activities on the CPC multi-family Agency loan portfolio. The Asset Manager will also identify and mitigate the credit, financial, operational, physical and market risks impacting the properties collateralizing the loans within the portfolio. Additional responsibilities include working with CPC team members, borrowers; guarantors; local, state and federal government agencies; developers; owners; managers; Fannie Mae; Freddie Mac; FHA and other industry groups to preserve the value of the multi-family housing financed by the mortgage loans.
For more information, apply here:
CPC has offices throughout NY State, and opportunities may become available for Mortgage Officers, Assistant Mortgage Officers, as well as support & clerical staff. If you have any questions, please contact Brenda Barnaby, Human Resources at 646-822-9327.
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. CPC supports equal opportunity employment and understands that EEO is the law.
