Community Preservation Corporation Launches CPC Mortgage Company

Rafael Cestero, president and CEO at CPC

NEW YORK CITY—The CPC Mortgage Company LLC has been created as a subsidiary of the nonprofit Community Preservation Corporation. It will focus on agency lending business offering Freddie Mac, Fannie Mae and Federal Housing Administration products for the acquisition, refinance, rehabilitation and construction of multifamily properties. While offering products for a broad range of capital needs including flexible bridge loans, CPC Mortgage has distinct experience in affordable, stable housing, small buildings and small balance loans.

For the last two fiscal years, the mortgage group operated under the CPC umbrella. But with their originations in Fiscal Year 2018 at nearly $500 million over a portfolio of 154 loans, CPC decided it was time to officially launch CPC Mortgage Company as a stand-alone subsidiary. Its revenue will continue to support the mission of its parent organization, CPC.