People on the Move 7.14.15

Affordable Housing Finance

July 14, 2015

CPC Announces Key Moves

The Community Preservation Corp. (CPC), a nonprofit lender providing reliable capital to underserved neighborhoods throughout New York state since 1974, announced additions to its leadership and originations teams.

The expanded CPC team includes:

·         Tom McGrath, senior vice president and director of upstate revitalization: McGrath will lead efforts to increase CPC’s presence in and commitment to upstate New York. His expertise will be utilized to mentor field office heads to develop upstate growth strategy and find unique ways CPC can enhance its impact in the communities it serves. He started his career in CPC as the first regional director for the Hudson Valley office and was instrumental in CPC’s expansions to eastern, central, and western New York. Most recently, he oversaw all aspects of CPC Resources, CPC’s for-profit subsidiary that provides equity and develops affordable housing in underserved communities throughout New York.

·         Elizabeth Propp, senior vice president for investments and acquisitions: Before joining CPC, Propp worked as a research affiliate and financial consultant for the NYU Furman Center for Real Estate and Urban Policy. Prior to that, she was with JPMorgan Investment Management for 16 years, most recently as managing director and Northeast acquisitions team leader.

·         Lawrence G. Hammond, vice president and mortgage officer in CPC’s New York City office: In his new role, he will help grow the New York City office’s construction and permanent loan portfolio and ensure it reflects CPC’s core mission to stabilize and revitalize communities. With over 30 years of experience in financing community development and commercial real estate projects, he comes from the Popular Community Bank where he was the vice president and relationship manager for nine years. Hammond has also worked at JPMorgan Chase Community Development Group for almost 30 years, most recently serving as the vice president of its community partnership office.

·         Christopher Schilling, mortgage officer on CPC’s Freddie Mac team: Based in the New York City office, Schilling will lead mortgage officers from all field offices to grow CPC’s Freddie Mac Small Balance Loan portfolio. Prior to joining CPC, he worked at Love Funding for eight years, starting as an investment analyst and advancing to the director of the New York office. He also worked at Citi in its Citi Cards and Citibank North America division for six years, becoming an expert in risk management.