AVP Loan Closing Manager (CPC Climate Capital)
Apply NowCompany: Community Preservation Corporation
Location: New York, NY 10025
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 Climate Capital:
CPC Climate Capital is a new subsidiary of The Community Preservation Corporation and will be a subrecipient of Climate United Fund, the recipient of a $6.97 billion grant from the National Clean Investment Fund established by the federal government as part of the Inflation Reduction Act (IRA). CPC Climate Capital will use its subaward of approximately $2.4 billion to decarbonize multifamily housing by making subordinate debt financing available to owners of multifamily housing nationally. These investments will reduce or eliminate on-site fossil fuels, thereby reducing greenhouse gas emissions. Our 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 supporting high-quality jobs.
For more information, please visit us at CPCClimateCapital.com
Role Summary:
The AVP Loan Closing Manager will manage a team responsible for supporting the origination, underwriting, and closing of loans. This role will train and oversee staff responsible for ensuring all necessary loan documents are accurate and delivered in a timely manner, ordering third party reports (credit, appraisal, engineering and environmental) and processing invoices for payment. This role will also work closely with the compliance and risk team to ensure loans move through the process in a timely manner and are ready for closing/conversion.
What You'll do:
Skills and Experience:
What We Offer:
This is a full-time, hybrid role where you will work from the Manhattan office two - three days a week. The salary range is $95,000 - $115,000, 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.
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 Climate Capital:
CPC Climate Capital is a new subsidiary of The Community Preservation Corporation and will be a subrecipient of Climate United Fund, the recipient of a $6.97 billion grant from the National Clean Investment Fund established by the federal government as part of the Inflation Reduction Act (IRA). CPC Climate Capital will use its subaward of approximately $2.4 billion to decarbonize multifamily housing by making subordinate debt financing available to owners of multifamily housing nationally. These investments will reduce or eliminate on-site fossil fuels, thereby reducing greenhouse gas emissions. Our 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 supporting high-quality jobs.
For more information, please visit us at CPCClimateCapital.com
Role Summary:
The AVP Loan Closing Manager will manage a team responsible for supporting the origination, underwriting, and closing of loans. This role will train and oversee staff responsible for ensuring all necessary loan documents are accurate and delivered in a timely manner, ordering third party reports (credit, appraisal, engineering and environmental) and processing invoices for payment. This role will also work closely with the compliance and risk team to ensure loans move through the process in a timely manner and are ready for closing/conversion.
What You'll do:
- Oversee a team responsible for prepare closing and other related packages for Construction and Permanent Loans.
- Develop processes and procedures to order, review and track third party reports.
- Design and maintain loan closing checklists and job aids to ensure collection of all project related documents needed for loan closing.
- Work with Closings Coordinator, Borrower, and Mortgage Officer to complete the closing package.
- Coordinate conference calls and work with Borrower, PSD and attorneys towards loan closing.
- Work with Risk and compliance teams to review items needed for closing/conversions (construction contract, architect items, insurance etc.) and confirm compliance with CPC's credit policy.
- Review loan applications and complete due diligence on borrower and their development teams, such as references and credit checks. Perform market research, as needed for individual projects.
- Prepare term sheets and commitment letters in cooperation with mortgage officers following credit approval of loans.
- Maintain and frequently update loan closing tracking system (HubSpot).
- Ensure completeness and retention of all project related documents.
- Maintain all office administrative and project files.
- Perform additional tasks as required.
Skills and Experience:
- BA/BS required with 10 years experience in commercial real estate loan processing and documentation, including 2-3 years of training, people management or supervisory experience preferred.
- Strong analytical ability.
- Comprehension of the elements of a mortgage offering and a clear understanding of the steps necessary to successfully close a deal.
- The ability to understand other parties' needs and to explain clearly the soundness of a given problem's solution.
- The ability to successfully work with others as a team, including listening, negotiating and leadership skills.
- Strong skills in Microsoft Word, Excel and PowerPoint.
- Superior communication and organizational skills.
- Excellent customer service skills.
- Ability to multi-task and prioritize responsibilities.
- Proactive and motivated self-starter
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 $95,000 - $115,000, 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.