Commercial Mortgage Co-op

Commercial Mortgage Co-op

MCAP at a Glance

Joining MCAP means you will be a part of our diverse workforce of highly talented individuals who are recognized for their expertise and success At MCAP, your professional expertise, commitment to teamwork and passion for service excellence are recognized and rewarded with competitive total rewards offering, a career with continuous learning and development (formal & informal training), and exciting opportunities in a dynamic, entrepreneurial environment.

The Role

The position will report to the Director, Portfolio Management but will have functions assigned by both the Portfolio Management, Origination and Servicing groups during the work term.

This is a development role in the Commercial Mortgage Group providing an opportunity to learn the products, processes, networks and functions to enable and equip the candidate with a good overview of the commercial mortgage business. The role would be ideally suited for candidates with a strong interest in commercial real estate finance seeking a co-op term. The focus of the role will be to learn the skills, rationale and underlying mathematical aptitude required to develop and manage a commercial mortgage book of business.

The individual will be provided with the opportunity to learn and be responsible for performing annual reviews, renewal loan summary, various analysis, correlating and presenting results of the business for the Origination group and for supporting the Servicing group in the ongoing management, monitoring, reporting and surveillance of a portfolio of commercial mortgage accounts, post funding.

Origination Analytic and Reporting Projects

· Gain knowledge to perform various analytical research tasks relating to key historical origination data utilizing Salesforce and interpreting the correlated metrics.

· Assist with the Reporting Project by inputting data and interpreting outputs.

Annual Reviews

· Learn how to obtain relevant information i.e. borrower financial statements, personal net worth statements, property operating statements, rent rolls, leases, cash flows, forecasts and other pertinent information required to perform annual account reviews for a portfolio of conventional, CMHC insured and CMBS loans.

· Learn to summarize all current information in a prescribed annual review format (to be submitted for approval to management, investor or master servicer as required).

· Understand and identify loan accounts where adverse trending has occurred or is imminent.

· Learn the Precision LM mortgage system, then utilize to input necessary information towards the report.

Exit Analysis

· Learn to understand various exit analysis and perform such analysis as assigned – refinance, sale and stress underwriting.

· Learn to determine which upcoming maturities would be recommended for renewal and why.

· Develop a loan summary for mortgage renewing clients using relevant information to assess the overall state of the property, borrower, and other personnel.

Other

· Assist in developing a quarterly market outlook report by using relevant information from high-level research reports i.e CBRE, JLL, Conference Board of Canada, and other reputable sources.

· Perform various other functions and/or projects as assigned by the VP Origination or the Director Loan Servicing or Director, Portfolio Management.

· Participate in weekly meetings with the Portfolio Management team to gain understanding on specific loans and learn about the necessary steps needed to mitigate risk.

· Weekly meeting with Director to ask questions, problem-solve, and to create a mentor relationship throughout the co-op term.

What You Bring To The Team 

Education

· Working towards a University Degree in Business/Commerce/Economics with a Real Estate Management focus.

Experience

· Strong interest in commercial real estate finance and a passion to gain knowledge in the Portfolio Management sector.

· Basic knowledge of office, retail, industrial and multi-family property types as related to commercial real estate.

· Some or eager to gain experience in real estate finance analytics / performing basic underwriting.

Languages Used in the Role

· Primarily English but French language skills are an additional bonus

Skills/Knowledge

· Proficient with Microsoft Outlook, MS Word, MS Excel, MS PowerPoint

· Strong analytical skills and spreadsheet analysis ability

· Strong verbal and written communication skills

· Effective business report writing skills

· Good ability to problem solve, think independently and flexible in approach

· Good organizational and time-management skills

· An ability to prioritize tasks

· Carries out duties with integrity and takes responsibility for actions

· Passionate real estate student with an eagerness to learn

· Works well in a collaborative environment but can complete tasks independently

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

Be A Part Of Something Great

MCAP is an independent mortgage financing company with over $111 billion in assets under management providing mortgage solutions for residential and commercial properties. Founded in 1981, MCAP originates, trades, securitizes and services mortgages in offices across Canada. MCAP originates residential mortgages exclusively through the mortgage broker channel as we believe that a professional mortgage broker is a consumer's best option and MCAP actively promotes the services of mortgage brokers across the country.

MCAP is also a leader in the Canadian residential construction lending market with over 25 years in the business. Our teams of dedicated professionals serve a variety of developer, construction and lender clients across Canada.

Position #: req2112

Employment Status: Co-Op

Location: Waterloo; Ontario

Number Of Openings: 1

Department: Commercial Mortgage

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.