Bilingual Commercial Loan Analyst
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.
MCAP is seeking an energetic Commercial Real Estate Loan Analyst to join their growing Commercial Real Estate division. The position requires someone who is experienced in underwriting commercial real estate finance, who enjoys a fast paced entrepreneurial environment, has meticulous attention to detail along with the ability to multi task and consistently meet deadlines
This position is primarily responsible for the underwriting of both conventional and CMHC loans that are generated by the Commercial Relationship Managers and approved by the Vic President of Investment Management.
The Commercial Loan Analyst will provide support to both the Vice President of Investment Management and the Commercial Relationship Managers by structuring, underwriting and conducting in depth assessments of credit worthiness and loan quality on commercial loans. This role may also involve training and mentoring of junior Analysts (as required).
General duties will include analyzing financial and operating statements and other associated due diligence items in order to prepare term sheets, letters of intent, loan summaries and Commitment Letters. The incumbent also will coordinate rate sets, loan sales and resolve loan funding matters under the supervision of the Vice President of Investment Management and in partnership with the Commercial Relationship Management team.
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, etc. required to complete in-depth loan analysis.
- Review appraisal, environmental site assessment and building condition assessment reports and opine on any issues.
- Summarize all property details, figures and analysis into a Loan Summary to be circulated to Investor Credit Committee for review and approval
- Complete in-depth loan analysis/underwriting for both conventional and CMHC loans supported by appropriate due diligence and a well-reasoned recommendation.
- Complete, submit and manage applications to CMHC for Certificates of Insurance under the direction of the Origination team, ensuring appropriate due diligence is completed.
- Take a solution focused approach to underwriting by offering alternative structures and/or funding conditions/solutions as appropriate.
- Review credit packages prior to submission for policy compliance, structural soundness and credit weakness
- Follow up and assist the loan funding and/or asset management teams as required.
Prepare financial review and assessment on property value and property condition
- Perform property inspections where required and complete MCAP’s Property Inspection form.
- Explain any discrepancies between outsourced inspection and own assessment
- Perform estimate of property value and confirmation of third party property value provided
- Prepare term sheet/letter of intent
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 and Sales
- Coordinate rate sets with Borrower, MCAP Capital Markets and Investors
- Issue and negotiate mortgage term sheet and other documents required to effect a loan sale under the supervision of the Senior Director of Investment Management
- Maintain and update the business pipeline to ensure accurate funding dates
- Work with the Vice President of Investment Management as assigned on project specific due diligence programs
Provide market data support for borrower/broker, Investment Management and investor clients as directed
- Research and maintain records relating to market conditions Canada wide (e.g. vacancy rates, rental rates, cap rates, property values)
- Present market information to borrower and investor clients
- Significant contact with borrowers, CMHC, mortgage brokers, real estate brokers, appraisers and other professionals required. Ability to communicate effectively in order to maintain strong relationships, with a focus on the growth of MCAP’s commercial loan portfolio
What You Bring To The Team
- Knowledge of conventional, commercial loan underwriting for office, retail, industrial, and other forms of commercial real estate
- Market knowledge of commercial real estate, as it relates to office, retail, industrial and multi-unit residential market trends, transactions, pricing and cap rates.
- Knowledge and understanding of CMHC policies and procedures related to multi – unit residential property
- Minimum 3 years’ experience in a commercial underwriting capacity
- Minimum 3 years knowledge of financial statement analysis
- Knowledge and understanding of the commercial real estate market
- Knowledge and understanding of conventional loan underwriting
- Experience in analyzing AACI Appraisals, Environmental Reports (Phase I/II etc), Building Condition reports and other reports relating to commercial real estate finance
- Up to date knowledge of current market trends and economic conditions
- Financial Analysis skills sufficient to extract, analyze and compile financial data from various sources
- Proficient with MS Word, MS Excel, MS PowerPoint
- Ability to demonstrate initiative/confidence and is decisive
- Exceptional oral and written communication skills
- Bilingual (English & French)
- Excellent organizational and time-management skills
- Ability to multi-task in a fast paced environment
- Ability to work accurately within very tight deadlines to meet demands of deal closings
- 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 degree in business/commerce with a minimum of three 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 in Canada, then we want to hear from you!
Be A Part Of Something Great
MCAP has grown to become one of Canada’s largest independent mortgage finance companies a real Canadian success story! MCAP is an independent, Canadian based mortgage finance company with more than $15.4 billion of annual originations and over $66 billion in assets under administration. MCAP provides mortgage products and services to a broad range of institutional investors and lenders for residential and commercial properties across Canada. Founded in 1981, MCAP has over 700 employees and originates, funds, trades, securitizes and services mortgages in offices across Canada. MCAP is also a leader in Canadian construction and development lending with over 20 years in the business. Our teams of dedicated professionals serve a variety of developer, construction and investor clients across Canada.
Position #: req171
Employment Status: Permanent Full Time
Location: Toronto; Ontario
Number Of Openings: 1
Department: Commercial Mortgage
Internal Job Title: 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.