Mr. Tiberio will serve as a VP & Mortgage Officer, generating new business across CPC’s suite of Freddie Mac and FHA lending products
New York, April 24, 2018 – The Community Preservation Corporation (CPC), a not-for-profit affordable housing and neighborhood revitalization finance company, announced today the hiring of Louis Tiberio as Vice President, Mortgage Officer responsible for originating and sourcing business across all of CPC’s Agency products. Located in the Philadelphia area, Mr. Tiberio will cover the Mid-Atlantic region, which consists of Pennsylvania, New Jersey, Delaware, Maryland and surrounding areas.
“We’ve worked to grow a suite of agency products that serve the diverse capital needs of the multifamily market, and build a team with the expertise to help our borrowers move their deals through the pipeline smoothly,” said Rafael E. Cestero, President & CEO of CPC. “We’re excited to have somebody with Lou’s years of experience in commercial real estate and capital markets strategically located in an area where our agency lending business and impact in communities has been growing.”
“There is definitely an appetite in the region, and particularly here in the Philadelphia area, for the sort of flexible capital that FHA and Freddie Mac offer multifamily owners,” said Louis Tiberio. “I’m excited to have the opportunity to bring my experience to a team exclusively focused on Agency lending and the borrower experience, and I look forward to helping CPC continue its growth.”
Prior to joining CPC, Mr. Tiberio served as a Director at Greystone Servicing Corporation, where he was in charge of origination of commercial real estate loans on behalf of the company’s Agency, CMBS and Bridge lending platforms. Mr. Tiberio previously was Vice President, Commercial Real Estate for Investors Bank, in Robbinsville, New Jersey, and before that Vice President, Senior Lender, Commercial Real Estate for Beneficial Bank in Philadelphia, Pennsylvania.
The hiring of Mr. Tiberio continues the expansion of CPC’s Agency lending business, providing borrowers with a team of experts that have extensive experience in Freddie Mac and Federal Housing Administration (FHA) lending products. From originations to underwriting and facilitating the deal flow through closing, CPC provides a team solely dedicated to the Agency lending process.
CPC has spent more than four decades committed to its mission of community revitalization by providing flexible capital to owners of multifamily buildings. The company has leveraged its more than four decades of community revitalization experience and strategic relationships with their government partners to provide a suite of permanent loan products uniquely tailored to fit the needs of building owners, large and small.
CPC has been a long-time Freddie Mac Seller/Servicer and offers a range of competitive and reliable mortgage products for the acquisition or refinance of multifamily properties. Among these products are Freddie Mac’s Conventional product offering loans from $5 million to $100 million, with 5- to 10-year terms, as well as the Small Balance Loan (SBL) product, which reduces the gap in the market for small building flexible financing by offering loans from $1 million up to $7.5 million with flexible terms, prepayment options, competitive low rates, and streamlined pricing, underwriting, closing, and funding process.
In addition, CPC is an approved FHA Multifamily Accelerated Processing (MAP) lender with expertise on 223(f) and 221(d)(4) products. Through the MAP program, CPC offers new construction, rehabilitation, refinance and acquisition loans for all types of multifamily projects with five or more units.
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About the Community Preservation Corporation (CPC)
Established in 1974, CPC is a nonprofit affordable housing and community revitalization finance company that believes housing is central to transforming underserved neighborhoods into thriving and vibrant communities. The company provides a full suite of capital products throughout its construction lending, permanent lending, and equity investing platforms. The company has leveraged in approximately $10 billion in private and public investment to finance more than 185,000 units of multifamily housing. CPC’s work with its partners has helped revitalize countless neighborhoods and provided quality housing for families, senior citizens, and individuals with disabilities. Visit CPC at communityp.com, and on Facebook, Twitter and LinkedIn.