PATRICK MURCIA
Eugene
Summary
Results-driven and mission-oriented Affordable Housing Finance professional with a proven track record as a leader in consistently delivering high production volume. Expert in leading initiatives while managing strong and dynamic relationships with both external and internal partners. Skilled in effectively balancing risk stewardship and business development. Excellent team builder and manager, fostering growth and productivity within the organization.
Overview
35
35
years of professional experience
Work History
Senior Director—Multifamily Affordable Housing (MAH)
Fannie Mae
09.2023 - Current
- Co-lead front end of MAH: direct the design and execution of strategic business plan to achieve ambitious production objectives; define clear targets and communicate to team members
- Manage Fannie Mae's relationships with 15 DUS Affordable Lenders and nine Affordable Priority Borrowers
- Develop and execute account strategy plans to optimize Lender and Borrower relationships
- Collaborate with internal stakeholders and Fannie Mae Lenders to market, negotiate, structure, and coordinate pricing and underwriting on multifamily transactions
- Developed public-private partnerships to drive innovative new lending initiatives
- Manage a team of five relationship management professionals, providing deal guidance, strategic direction, and mentoring support in a high-caliber and fast-paced sales environment
- Recruited and hired employees as team expanded; provide ongoing mentoring and guidance
- Travel extensively to meet with internal and external partners, conduct site visits, and meet with team and leadership
- Managed over $10.2B in new business deliveries since September 2023
Director—Multifamily Affordable Housing (MAH)
Fannie Mae
01.2020 - 09.2023
- Roles and responsibilities similar to Senior Director position
- Managed a team of two relationship management professionals, providing deal guidance and mentoring support in a high-caliber and fast-paced sales environment
- Managed over $31.5B in new business deliveries from January 2020 to September 2023
Director—Priority Borrower Channel
Fannie Mae
09.2012 - 01.2020
- Managed Fannie Mae's relationship with a select number of high-profile multifamily institutional borrowers
- From 2012 through 2019, managed over $18B in new business to approval and closing
- Focused on Priority Borrower Strategy: Developed internal Vision Statement as well as external messaging on what it means to be a Priority Borrower; Led biannual Customer Survey project; Represented Fannie Mae Multifamily at industry conferences
Credit Risk Manager (national)—Multifamily Affordable Housing
Fannie Mae
02.2011 - 09.2012
- Became sole credit risk manager for Multifamily Affordable Housing—which generated more than $2 Billion in annual business nationally
- Responsible for managing credit risk by performing underwriting reviews for non-delegated Multifamily Affordable Housing transactions, maintaining credit standards, and managing lender credit relationships
- Affordable transactions included Low Income Housing Tax Credits (LIHTC), Bond Credit Enhancement, Preservation, Acquisition/ Rehabilitation, and Refinance—for both forward commitment and immediate delivery
- Transactions involved complex and layered financing with both private and public sources of funding
- Trained lenders and fellow underwriters on Fannie Mae credit standards and tolerances
Lead Director, Community Development–Western Region
Fannie Mae
10.2008 - 01.2011
- Promoted after six months to Lead Director for the Western half of US
- Directed strategic activities, investment opportunities, and product innovations to address urban housing challenges across all three regions
- Managed a team of two directors and eleven senior business managers to carry out company’s community development mission
- During 2010, acted as COO of the Community Development division, assisting the division Vice President in strategic direction and day-to-day management of a staff of 64 across 32 markets nationally, with an $11.4MM budget
- Actively sourced, underwrote and facilitated to closing new transactions for Fannie Mae’s various Housing and Community Development business units, including: loans to Public Entities, Community Development Financial Institution (CDFI) investments, Multifamily permanent loan purchases, and Bank loan participations
- At the onset of the Great Recession and attendant national foreclosure crisis, I facilitated implementation of the Obama Administration’s Making Home Affordable initiative through homeowner education, lender/servicer and nonprofit training, and industry partner outreach
- Key contributor to launch of the first Mortgage Help Center in Miami in 2009 to assist struggling Fannie Mae borrowers
- Collaborated with state Housing Finance Agencies, cities, housing authorities, and other public entities on foreclosure prevention and neighborhood stabilization strategies, including: The Administration’s Neighborhood Stabilization Program, sale of Fannie Mae Real Estate Owned, regional counselor networks, and public foreclosure intervention events
- Collaborated with supportive housing developers, public/private funders, and federal/state policymakers to advance the fight to prevent and end homelessness nationally
- Liaised with Fannie Mae’s Office of Community and Charitable Giving to identify and facilitate grant support to regional nonprofits
Director, Community Development
Fannie Mae
02.2008 - 10.2008
- Oversaw Fannie Mae’s community development activities in the western half of the U.S.
Vice President, Chief Credit Officer
Enterprise Community Loan Fund
06.2002 - 01.2008
- Assumed Chief Credit Officer responsibility for entire US, managing a national team of 17 lenders in 15 cities
- Reviewed and approved new loan requests (predevelopment, acquisition, and construction of affordable housing); advised and assisted lenders in negotiation and structuring of loan transactions; in 2007, approved 109 loans totaling $118 million
- Worked closely with public (Federal, State, City) and private (banks, foundations, nonprofit developers) partners to design, implement and fund innovative affordable housing financing programs; collaborated with Los Angeles Housing Department, banks, foundations, and nonprofits to create citywide acquisition fund
- Advocated and advised on affordable and environmentally sound housing policy to Federal, State, and City governments; represented Enterprise at public conferences and symposia to promote and impart industry best practices
Senior Program Director, Finance
The Enterprise Foundation
02.1998 - 06.2002
- Managed all lending activity in New York City and Upstate New York; Portland, OR; East Palo Alto, CA; Cleveland, OH; and Charlotte, NC
Vice President, Special Assets Division
First Union National Bank
07.1990 - 01.1998
- Managed all aspects of a $50 million portfolio of non-performing commercial real estate-based loans
- Performed extensive credit and cash flow analysis, collateral valuation, and risk assessment in determining workout strategy; negotiated, designed, and closed note sales, loan settlements, and restructures; directed legal counsel in documentation, litigation, foreclosure, and bankruptcy proceedings
- Achieved $71 million in cash settlements, note sales, and rehabilitations from 1/95 through 6/97 leading up to promotion
- Achieved additional $19.4 million from 6/97 through 12/97
Education
MBA - International Business & Economic Development
American University
Washington, DCBachelor of Arts - Latin American Studies
College of William And Mary
Williamsburg, VACertificate of Course Completion - LEED 101 and LEED 201
US Green Building Council
Washington, DCSkills
- Relationship Management Expertise
- Account management
- Effective Team Leadership
- Loan origination and underwriting
- Performance Metrics Analysis
- Pipeline Management Expertise
- Strategic Marketing Planning
- Effective Negotiation Strategies
- Strategic planning
- Coordinated Policy Deployment
Activities and Interests
- Soccer
- Strength training
- Contemporary art
- Cooking
Board Membership And Other Activities
- Director, Tenderloin Neighborhood Development Corporation (TNDC), San Francisco, CA, 2012-2017. Served as Treasurer January 2014 – July 2015
- National Loan Committee Member, Partners for the Common Good, Washington, DC, 2011 - present
- Board Member, Delivering Innovation in Supportive Housing (DISH), San Francisco, CA, 2011 – 2017
- Co-Owner, Fusebox, Washington, DC, 2001 – 2006: Co-founded a critically-acclaimed contemporary art gallery that pioneered a new arts district on the developing 14th Street corridor
Languages
Spanish
Full Professional
Timeline
Senior Director—Multifamily Affordable Housing (MAH)
Fannie Mae
09.2023 - Current
Director—Multifamily Affordable Housing (MAH)
Fannie Mae
01.2020 - 09.2023
Director—Priority Borrower Channel
Fannie Mae
09.2012 - 01.2020
Credit Risk Manager (national)—Multifamily Affordable Housing
Fannie Mae
02.2011 - 09.2012
Lead Director, Community Development–Western Region
Fannie Mae
10.2008 - 01.2011
Director, Community Development
Fannie Mae
02.2008 - 10.2008
Vice President, Chief Credit Officer
Enterprise Community Loan Fund
06.2002 - 01.2008
Senior Program Director, Finance
The Enterprise Foundation
02.1998 - 06.2002
Vice President, Special Assets Division
First Union National Bank
07.1990 - 01.1998
MBA - International Business & Economic Development
American University
Bachelor of Arts - Latin American Studies
College of William And Mary
Certificate of Course Completion - LEED 101 and LEED 201
US Green Building Council
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