Former EVP at Beacon Communities LLC to Lead Mission-Driven Mortgage Lender Specializing in Affordable and Workforce Housing
New York, NY – CPC Mortgage Company announced today that Nicole Ferreira will be joining the company as its new president in July. CPC Mortgage Company is a national Agency mortgage lender that is bringing social impact and a nonprofit mission to the mortgage lending industry, and the only nonprofit-owned lender offering a suite of Freddie Mac, Fannie Mae, and Federal Housing Administration (FHA) multifamily finance products.
As president of CPC Mortgage Company, Ferreira will be leading the nation’s only mortgage company comprised of impact-driven, nonprofit mortgage lenders and investors. This innovative model leverages the unique expertise of its owners, The Community Preservation Corporation, Cinnaire and National Equity Fund, with the shared goal of bringing flexible mortgage capital to communities to expand and preserve affordable and workforce housing. CPC Mortgage Company offers conventional, affordable, and small balance lending for the acquisition, refinance, rehabilitation and development of multifamily housing.
“At a time when we have a nationwide crises of both housing affordability and availability, it’s critical that there’s somebody focused on providing flexible mortgage capital to owners and operators in communities where it is needed most,” said Nicole Ferreira. “CPC Mortgage Company has set itself apart as an organization that values transparency and accountability, and that looks at every deal through a lens of the social impact it can offer. I look forward to joining CPC Mortgage Company and leading a team that is changing how business is done in the mortgage industry.”
“I’m extremely pleased to have somebody with Nicole’s deep expertise in multifamily and affordable housing finance leading CPC Mortgage Company,” said Rafael E. Cestero, CEO of the Community Preservation Corporation. “While Nicole brings extensive industry knowledge and a strong network of relationships to the company, she also has a unique understanding of the CPC culture and a commitment to our mission of bringing flexible capital to communities across the country to help expand and preserve affordable and workforce housing.”
“I’d like to personally thank John for all he has done for the industry and for the tremendous partnership in CPC Mortgage Company, allowing us to extend NEF’s mission all the way from predevelopment lending through 30-year mortgages. We look forward to working in lockstep with Nicole to continue to advance affordable housing across the country,” said Matt Reilein, president and CEO of National Equity Fund.
“Nicole is an energetic leader with an impressive background that aligns well with the mission of CPC Mortgage,” said Mark McDaniel, Cinnaire President and CEO. “As a recognized change-maker in the industry, Nicole is poised to take CPC Mortgage to the next level. Her efforts will advance affordable homes for the most vulnerable families and individuals across the country and we are excited to work with her to expand our lending platform.”
New York State Homes and Community Renewal Commissioner RuthAnne Visnauskas said, “Nicole Ferreira has demonstrated throughout her career to be a strategic leader who has effectively used her financial expertise to combat housing insecurity. During her time at HCR, she was instrumental in the success of our Housing Plan as she managed over $8 billion in Federal and State affordable housing resources, she created innovative pathways for the development community to access funding opportunities with the agency, and she deftly managed our burgeoning sustainable development efforts. I’m proud to say that her work directly increased housing opportunities for tens of thousands of New Yorkers and will have a lasting impact in communities across the state for years to come. On behalf of everyone at HCR, congratulations to Nicole and our partners at CPC.”
Ferreira will replace current CPC Mortgage Company president John Cannon who is retiring in June at the end of the 2023 fiscal year. Cannon joined CPC Mortgage Company as its first president in 2019, following a 35-year career that included senior leadership positions at Freddie Mac, Berkadia, Capmark, and GMAC Commercial Mortgage. Cannon has used his extensive experience in commercial banking and Agency lending to grow CPC Mortgage Company’s lending activities on a national scale, originating nearly $2.3 billion across 23 states, inclusive of $1.6 billion in affordable housing transactions. In the prior fiscal year, CPC Mortgage Company executed more than $560 million in Agency originations, keeping up a pace of roughly 32 percent year over year growth.
Ferreira joins CPC Mortgage Company having built an impressive track record of success in leadership positions across the housing and community development industry. Most recently, she served as Executive Vice President of Development at Beacon Communities LLC where she oversaw the development of affordable housing throughout New York State and Connecticut.
Ferreira has also served as Senior Vice President of Multifamily Finance and Development at the New York State Homes and Community Renewal (HCR), where she oversaw all HFA multifamily lending and debt issuance. Before joining HCR, she was Executive Vice President for Real Estate Development at the New York City Housing Authority’s (NYCHA), where she closed one of the largest public housing revitalization transactions in the country, and led the team responsible for creating the 10-year strategic plan to repair NYCHA’s aging building stock and stabilize the agency’s finances. She is also a member of the Association of Latino Professionals for America (ALPFA), and is an adjunct professor at the Pratt Institute’s Graduate School of Real Estate in Brooklyn, NY.
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About CPC Mortgage Company
CPC Mortgage Company is a nation’s only nonprofit-owned Agency mortgage lender bringing social impact and a nonprofit mission to the mortgage lending industry. This innovative model leverages the unique expertise of its owners, the Community Preservation Corporation, Cinnaire, and National Equity Fund, with the goal of bringing flexible capital to communities to expand and preserve affordable and workforce housing. It is the only nonprofit-owned mortgage lender offering a suite of Freddie Mac, Fannie Mae, and Federal Housing Administration (FHA) multifamily finance products. Revenue generated by CPC Mortgage Company supports its mission-aligned members’ work to create a positive social impact through investments in housing and community development. Visit CPC Mortgage Company’s website, LinkedIn, Twitter, & Facebookpages.