Senior Commercial Loan Analyst

JoiningMCAP means you will be a part of our diverse workforce of highly talentedindividuals who are recognized for their expertise and success At MCAP, yourprofessional expertise, commitment to teamwork and passion for serviceexcellence are recognized and rewarded with competitive total rewards offering,a career with continuous learning and development (formal & informaltraining), and exciting opportunities in a dynamic, entrepreneurialenvironment.

The Role

MCAP is seeking an experienced, energetic Senior Commercial Loan Analyst to join their growing Commercial Mortgage Group. The Senior Analyst must be experienced in underwriting commercial real estate finance to established standards while finding creative solutions in a timely manner to achieve service goals as well as annual target volumes. This position is suitable for someone who enjoys a fast-paced entrepreneurial environment, has meticulous attention to detail along with the ability to multitask and consistently meet deadlines.

This position is primarily responsible for the underwriting of CMHC and conventional loans that are generated by the Commercial Origination Team. This position will also provide advanced level support to both the Vice President of Investment Management, Senior Vice President of Origination and the Managing Partner of CMG by underwriting and conducting in depth assessments of credit worthiness and loan quality on commercial loans. 

General duties will include analyzing financial and operating statements and other associated due diligence items in order to prepare and submitted applications to CMHC in addition to preparing loan summaries and Commitment Letters. The incumbent will also approve loans (in compliance with delegated authority), coordinate rate sets, complete loan sales and resolve loan funding matters under the supervision of the Vice President of Investment Management and in partnership with the Origination and Funding teams.

 Preparation of Loan Submissions and Term Sheets for assigned deals.

• Obtain all relevant information, i.e., rent roll, financial statements, invoices, property management contract, leases, appraisal, environmental site assessment, building condition assessment, construction budgets etc. required to complete in-depth loan analysis.
• Review appraisal, environmental site assessment and building condition assessment and quantity surveyor reports and opine on any issues.
• Complete in-depth loan analysis/underwriting for both CMHC and conventional loans supported by appropriate due diligence and a well-reasoned recommendation.
• Leverage historical program knowledge / experience in order to present solutions for program improvement / creation of greater efficiencies within the team.
• Take a solution focused approach to underwriting by offering alternative structures and/or funding conditions/solutions as appropriate.
• Summarize all property details, figures and analysis into a Loan Summary to be circulated for review and approval.
• Complete applications for CMHC Certificates of Insurance ensuring appropriate due diligence are completed.
• Follow up and assist the loan funding and/or asset management teams as required.
• Review and approve loan submissions (within delegated authority) ensuring; policy compliance, structural soundness while addressing any credit weaknesses.
• Provide technical assistance/guidance to the Commercial Loan Analysts as appropriate.

Prepare financial review and assessment on property value and property condition.

• Explain any discrepancies between third party reports and MCAP’s assessment.
• Perform estimate of property value and confirmation of third-party property value provided

Prepare Commitment Letter

• Prepare a Loan Commitment Letter for submission to the broker or borrower outlining the terms and conditions reflecting the loan approval.

Support Loan Funding’s and Investor Loan Sales

• Issue and negotiate documentation required to effect a loan sale under the supervision of the Vice President of Investment Management
• Maintain and update the business pipeline / portfolio reporting to ensure accuracy.
• Work collaboratively with the Funding group to proactively ensure all loans fund within targeted timelines.
• Work with the Associate Director/Vice President of Investment Management as assigned on project specific due diligence programs.
• Coordinate rate sets with Borrower, MCAP Capital Markets and in the case of conventional loans, the Investor

Provide market data support for borrower/broker, Investment Management and investor clients as directed.

• Research and maintain records relating to market conditions (e.g. vacancy rates, rental rates, cap rates, property values)
• Present market information and educate Investors, Borrowers / Brokers and Professionals as to our requirements, providing direction and appropriate solutions.
• Significant interaction with CMHC, borrowers, mortgage brokers, lawyers and other professionals required. Ability to communicate effectively in order to develop and maintain strong relationships, with a focus on the growth of MCAP’s commercial loan portfolio.

Provide support to Investment Management as directed.

• Drive the continued improvement of the group by assisting in the implementation of new processes and procedures.
• Proactively assist in the training of the Associate/Junior Analysts/Commercial Analysts & onboarding of new hires into the team
• Leverage prior experience and technical knowledge to proactively identify and present solutions for program improvement / creation of greater efficiency within the team and wider department.

What You Bring To The Team 

• Extensive Knowledge of conventional loan underwriting for office, retail, industrial, and other forms of commercial real estate
• Extensive knowledge of CMHC underwriting (term and construction)
• Extensive and understanding of CMHC policies and procedures related to multi – unit insurance.
• In depth market knowledge of commercial real estate, as it relates to multi-unit residential, Office, Retail, and Industrial transactions (including pricing, vacancy, rental rates and cap rates).
• Minimum 5 years’ experience in a commercial underwriting capacity
• Minimum 5 years’ experience of financial statement analysis
• Knowledge of CMHC securitization (preferred) including prior experience in the execution / coordination of commercial loan sales
• Knowledge and understanding of the commercial real estate market, particularly as it relates to multi-unit residential.
• In depth knowledge and understanding of conventional loan underwriting
• Solid experience in analyzing AACI Appraisals, Environmental Reports (Phase I/II etc), Building Condition reports, PQS reports and other reports relating to commercial real estate finance.
• Up to date knowledge of current market trends and economic conditions
• Proficient with MS Word, MS Excel, MS PowerPoint
• Ability to demonstrate initiative/confidence and is decisive.
• Exceptional oral and written communication skills
• Excellent organizational and time-management skills
• Ability to multi-task in a fast-paced environment
• Strong analytical and problem-solving skills.
• Proven ability to foster relationships.
• Self-driven, motivated with the ability to work independently and in a team environment.
• Carries out duties with integrity and takes responsibility for actions
• A bachelor’s degree in business/commerce with a minimum of five year’s relevant experience

If this sounds like you and you are looking to be a part of one of Canada’s largest independent mortgage finance companies, then we want to hear from you

Be A Part Of Something Great

MCAPis Canada’s largest independent MortgageFinance company withover $150 billion in assets under management providing mortgage solutions forresidential and commercial properties. For over 35 years,MCAP originates, trades, securitizes and services mortgages in offices acrossCanada. MCAP originates residential mortgages exclusively through the mortgagebroker channel as we believe that a professional mortgage broker is aconsumer's best option and MCAP actively promotes the services of mortgagebrokers across the country. MCAP is also a leader in the Canadian residentialconstruction lending market with over 25 years in the business. Our teams ofdedicated professionals serve a variety of developer, construction and lenderclients across Canada.

Position #: req1808

Employment Status: Permanent Full Time

Number Of Openings: 1

Department: Commercial Mortgage

Internal Job Title: Senior Commercial Loan Analyst 

The above information in this description has been designed to indicate the general nature and level of work performed by employees in the position. It is not designated to contain a comprehensive inventory of all duties, responsibilities, and qualifications required of employees assigned to this job.

MCAP provides equal opportunities for all applicants and is committed to fostering an inclusive, accessible environment, where all employees feel valued, respected and supported throughout the recruitment and employment process. If you require accommodation, we will work with you to meet your needs.