Community Preservation Corp. launches multifamily mortgage company

Community Preservation Corp., a nonprofit affordable housing and community revitalization finance company, is no stranger to multifamily lending, having originated nearly $500 million in agency loans in 2018 alone. But now, the company is spinning off its agency lending business and creating a standalone mortgage company. Community Preservation Corp. announced this week that it is launching CPC Mortgage Company, which will focus on Freddie Mac, Fannie Mae, and Federal Housing Administration loans for acquisition, refinance, rehabilitation, and construction for multifamily properties.