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. Role Summary: Join CPC’s newly established Building Innovation team and help shape the future of affordable and workforce housing finance through innovative lending and investment strategies that advance high-performance multifamily housing. Working closely with the Senior Director, Strategy & Credit Risk, this position will play a key role in launching CPC’s High-Performance Housing Fund and a new predevelopment lending program supporting affordable housing projects that incorporate natural hazard resilience and utility efficiency improvements. In this role, you will combine real estate underwriting and financial analysis with transaction and pipeline management, asset management, and cross-functional program support. The role will independently manage multiple workstreams and help move transactions from initial evaluation through underwriting, due diligence, closing, and ongoing monitoring. You will be responsible for performing the initial evaluation of proposed predevelopment and subordinate loans as well as preferred equity transactions for the credit review process by working with CPC’s Chief Risk Officer and/or CPC Credit and Investment Committees. The role offers a unique opportunity to help develop new financing solutions, build market knowledge, and expand the affordable housing industry’s capacity to finance high-performance housing investments. What You’ll Do: - Coordinate predevelopment financing applications, working with consultants, borrowers, and CPC staff to assemble required financial, technical, and program documentation. - Manage assigned transactions and workstreams, including screening applications, conducting eligibility and financial-feasibility analyses, coordinating stakeholders, tracking deliverables, and advancing required next steps. - Structure and evaluate financing approaches that enable energy efficiency, utility efficiency, and natural hazard resilience improvements. - Manage the underwriting and due diligence process of predevelopment and subordinate loans from origination through closing, coordinating internal CPC teams, borrowers, legal counsel, consultants, and third-party vendors. - Analyze historical operations, rent rolls, market conditions, development budgets, and financing assumptions to assess cash flow, debt capacity, transaction feasibility, and credit risk. - Underwrite preferred equity investments, evaluating capital structure, distribution waterfalls, sponsor economics, projected returns, exit and refinancing assumptions, and downside protection. - Develop and review Excel-based financial models, including operating projections, debt sizing, sources and uses, investment returns, and sensitivity and downside analyses. - Conduct site inspections and review third-party reports, including appraisal, engineering, environmental, zoning, flood, title, and insurance, to identify property-level risks. - Assess borrower and sponsor creditworthiness through analysis of financial statements, liquidity, credit history, organizational structure, experience, and real estate holdings. - Prepare underwriting and investment memoranda and present findings, material risks, and recommendations to CPC Credit and Investment Committees. - Proactively identify and communicate material credit, execution, and closing risks and recommend appropriate solutions. - Maintain due diligence checklists and application schedules, monitor deliverables, resolve information gaps, and ensure complete and timely submissions. - Maintain visibility into the Climate Lending & Investing transaction pipeline and help advance opportunities through screening, evaluation, underwriting, approval, documentation, legal review, and closing. - Review borrower reporting...

Real Estate Finance & Investment Specialist (Underwriting & Transaction Management)