Community Preservation Corporation
Director, Head of Underwriting (CPC Climate Capital)
Community Preservation Corporation, New York, New York, us, 10261
About CPC Climate Capital:
CPC Climate Capital is a new division within The Community Preservation Corporation (CPC) and a sub-award partner of Climate United Fund. CPC Climate Capital will support Calvert Impact in the deployment of approximately $2.5 billion in Greenhouse Gas Reduction (GGRF) funds by advancing the CPC Climate Capital Multifamily Decarbonization Strategy nationally. CPC Climate Capital was selected to administer a portion of the awarded GGRF funds on behalf of the Environmental Protection Agency (EPA) to provide subordinate debt financing to owners of multifamily housing nationally to reduce or eliminate on-site fossil fuels, thereby reducing greenhouse gas emissions. These climate goals will be simultaneously delivered against other critical national priorities, including the creation and preservation of affordable housing, promoting equity and environmental justice, and support of high-quality jobs.
For more information, please visit us at
our website .
Role Summary:
CPC Climate Capital will fund subordinate mortgage debt behind both construction and permanent first mortgage loans secured by both affordable and conventional properties. The Head of Underwriting will be responsible for building out the Climate Capital underwriting platform; providing leadership, guidance, support, training, and direction to the underwriting team; and ensuring quality, completeness, and accuracy of the underwriting team’s work. This leadership role will facilitate timely and appropriate communication between all parties involved in the transaction.
What You’ll do:
Oversee the design and implementation of CPC Climate Capital’s underwriting policies, processes, and procedures.
Ensure the underwriting package meets CPC Climate Capital underwriting guidelines.
Manage the underwriting team’s workload to ensure quality and timely completion of loan applications and other assigned tasks.
Cultivate and maintain strong relationships with Freddie Mac, Fannie Mae, Mortgage Banks, and Portfolio Lenders to obtain lender consent for CPC Climate subordinate debt.
Review loans prior to internal and agency submission, providing feedback/approvals to the underwriting team.
Ensure operating efficiencies and implement process improvements including maximizing the use of technology.
Create and oversee training and professional development for all members of the team on an ongoing basis.
Ensure that the team is clearly communicating to internal and external transaction working group members.
Develop measurable team goals for each team member and ensure necessary resources are in place to support the achievement of all goals.
Maintain effective controls and compliance including operating within CPC Climate Capital’s policies and procedures and adhering to all legal, regulatory, and programmatic requirements.
Demonstrate commitment to CPC Climate's mission and objectives.
Work on special projects as necessary.
Skills and Experience:
10+ years demonstrable experience in underwriting both construction and permanent loans secured by both affordable and conventional properties.
5+ years management and leadership experience.
BA / BS required. Graduate degree in Real Estate Finance / Development, Urban Planning / Policy, Affordable Housing, Community Development, or similar discipline preferred.
Experience with both Freddie Mac/Fannie Mae conventional and affordable underwriting standards.
Strong communication skills and interest in learning beyond their area of expertise.
Highly developed analytical, research, and written/oral presentation skills.
Ability to problem-solve and exercise independent judgment while displaying a high degree of initiative and accuracy.
Demonstrated ability to organize & prioritize projects; complete multiple tasks on schedule.
Experience with green building standards, building decarbonization, and sustainable housing.
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
This is a hybrid role that can be based in either NYC and would work out of our Manhattan office 2 - 3 days a week or in Washington DC with willingness to work in a hybrid work environment or ability to travel to the NYC office quarterly for team collaboration. The salary range is $175,000 – $200,000, 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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CPC Climate Capital is a new division within The Community Preservation Corporation (CPC) and a sub-award partner of Climate United Fund. CPC Climate Capital will support Calvert Impact in the deployment of approximately $2.5 billion in Greenhouse Gas Reduction (GGRF) funds by advancing the CPC Climate Capital Multifamily Decarbonization Strategy nationally. CPC Climate Capital was selected to administer a portion of the awarded GGRF funds on behalf of the Environmental Protection Agency (EPA) to provide subordinate debt financing to owners of multifamily housing nationally to reduce or eliminate on-site fossil fuels, thereby reducing greenhouse gas emissions. These climate goals will be simultaneously delivered against other critical national priorities, including the creation and preservation of affordable housing, promoting equity and environmental justice, and support of high-quality jobs.
For more information, please visit us at
our website .
Role Summary:
CPC Climate Capital will fund subordinate mortgage debt behind both construction and permanent first mortgage loans secured by both affordable and conventional properties. The Head of Underwriting will be responsible for building out the Climate Capital underwriting platform; providing leadership, guidance, support, training, and direction to the underwriting team; and ensuring quality, completeness, and accuracy of the underwriting team’s work. This leadership role will facilitate timely and appropriate communication between all parties involved in the transaction.
What You’ll do:
Oversee the design and implementation of CPC Climate Capital’s underwriting policies, processes, and procedures.
Ensure the underwriting package meets CPC Climate Capital underwriting guidelines.
Manage the underwriting team’s workload to ensure quality and timely completion of loan applications and other assigned tasks.
Cultivate and maintain strong relationships with Freddie Mac, Fannie Mae, Mortgage Banks, and Portfolio Lenders to obtain lender consent for CPC Climate subordinate debt.
Review loans prior to internal and agency submission, providing feedback/approvals to the underwriting team.
Ensure operating efficiencies and implement process improvements including maximizing the use of technology.
Create and oversee training and professional development for all members of the team on an ongoing basis.
Ensure that the team is clearly communicating to internal and external transaction working group members.
Develop measurable team goals for each team member and ensure necessary resources are in place to support the achievement of all goals.
Maintain effective controls and compliance including operating within CPC Climate Capital’s policies and procedures and adhering to all legal, regulatory, and programmatic requirements.
Demonstrate commitment to CPC Climate's mission and objectives.
Work on special projects as necessary.
Skills and Experience:
10+ years demonstrable experience in underwriting both construction and permanent loans secured by both affordable and conventional properties.
5+ years management and leadership experience.
BA / BS required. Graduate degree in Real Estate Finance / Development, Urban Planning / Policy, Affordable Housing, Community Development, or similar discipline preferred.
Experience with both Freddie Mac/Fannie Mae conventional and affordable underwriting standards.
Strong communication skills and interest in learning beyond their area of expertise.
Highly developed analytical, research, and written/oral presentation skills.
Ability to problem-solve and exercise independent judgment while displaying a high degree of initiative and accuracy.
Demonstrated ability to organize & prioritize projects; complete multiple tasks on schedule.
Experience with green building standards, building decarbonization, and sustainable housing.
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
This is a hybrid role that can be based in either NYC and would work out of our Manhattan office 2 - 3 days a week or in Washington DC with willingness to work in a hybrid work environment or ability to travel to the NYC office quarterly for team collaboration. The salary range is $175,000 – $200,000, 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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