Job Description

Job Description

About Us:

The Community Preservation Corporation (CPC) believes stable and sustainable affordable housing is the foundation of strong communities and we strive to contribute to comprehensive neighborhood revitalization through our lending and partnerships. A nationally recognized leader in affordable housing finance, CPC has provided a consistent source of capital to underserved housing markets throughout New York State since our inception in 1974.

Today, CPC stands as the largest CDFI solely committed to investing in multifamily housing, having invested more than $15 billion to finance the creation and preservation of more than 230,000 units of quality housing in neighborhoods across New York State and beyond. CPC has a robust construction lending platform, a mortgage bank, and equity and impact investment platforms that focus on our three goals: Expanding Affordable Housing, Closing the Racial Wealth Gap and Investing in the Green Economy.

As a member of our team, you'll have the opportunity to work on impactful projects that make a real difference in people's lives. We're looking for talented individuals who are passionate about our mission and share our values of commitment, respect, excellence, accountability, and collaboration.

About CPC Mortgage Company:

CPC Mortgage Company is CPC’s Agency lending subsidiary. CPC Mortgage Company is the only nonprofit-owned multifamily lender offering a suite of Freddie Mac, Fannie Mae, and Federal Housing Administration (FHA) multifamily mortgage products nationwide. Our products cover a range of borrower needs, from affordable, workforce, and conventional permanent mortgages to bridge and subordinate debt. Our team provides a unique blend of expertise that combines the trademark service and execution our borrowers value, with a focus on social impact through our investments in housing and communities. CPC Mortgage Company invested $3.5B in 24 states and counting, with 77% of units financed being affordable.

Role Summary:

The Underwriting Analyst, as part of CPC Mortgage Company and reporting to the Director of Underwriting, plays a key role in supporting the Agency Underwriting team throughout the mortgage loan submission process to Freddie Mac and Fannie Mae. This position is responsible for conducting initial analyses of conventional and affordable multifamily loan applications, with secondary focus on small balance loans. The Analyst collaborates closely with underwriters to evaluate borrower and property financials, review third-party reports, and ensure all submissions meet agency guidelines. This role requires strong analytical skills, attention to detail, and the ability to synthesize complex information to facilitate informed lending decisions.

What You’ll do:

• Work closely with underwriting team, providing initial underwriting support to position loan requests for approval.
• Review third party reports and provide findings to Underwriters. Ensure reports are prepared in accordance with Freddie Mac / Fannie Mae requirements.
• Perform market research for loans in the underwriting process, analyzing trends unique to each loan request.
• Conduct research and analysis of sponsor or management properties, neighborhoods and other factors to ensure applications conform with Freddie Mac / Fannie Mae requirements.
• Perform initial analysis of borrower financial statements and schedule of real estate owned.
• Analyze property rent rolls, operating statements and other financial information required to populate the loan-sizing workbook.
• Analyze, research and report rent and sales comps for properties in the loan approval document.
• Participate in calls and meetings with all parties to the loan, as necessary.
• Maintain up to date knowledge on agency and company guidelines for underwriting various product types.
• Perform property inspections at the direction of the underwriter. Travel outside of the NYC area may be required.
• Perform other responsibilities as assigned.

Skills and Experience

• BA/BS required. Degree in Accounting, Finance or a real estate related major is preferred.
• 1-3 years’ experience in commercial mortgage underwriting, multifamily lending, or real estate finance ideal (including internships).
• Experience with Fannie Mae, Freddie Mac and/or other multifamily programs is strongly preferred.
• Strong analytical, problem solving and organizational skills are required.
• Solid understanding of commercial mortgage underwriting/lending required.
• The ability to work with others in a team environment.
• Excellent communication skills (written and verbal) and ability convey findings in a concise and comprehensive manner.
• Ability to travel outside of the NYC area may be required.

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
• More about our offerings and culture here

This is a full-time, hybrid role where you will work from the Manhattan office two - three days a week. The salary range is $65,000 – $80,000, 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.