Senior Commercial Loan Analyst

3 weeks ago

Toronto, Canada MCAP Full time

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, ., 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 (. 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. Strong customer service skills. 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

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