Associate, Commercial Origination

MCAP•Toronto, ON

3d•CA$75,000 - CA$95,000•Onsite

About The Position

This position is responsible for providing support on client/broker acquisition, relationship management and credit management processes, as well as providing transactional support in the funding of conventional and CMHC insured commercial mortgages. This is a development role within the Commercial Mortgages Group providing an opportunity to learn the products, processes, networks and functions to enable and equip the candidate to eventually progress to a more senior origination role. The focus of the role will be to learn the skills and aptitudes required to develop and manage a commercial mortgage book of business. The incumbent must critically assess loan applications and be prepared to support a Director(s)/Senior(s) of Commercial Mortgages in recommending said applications for approval. The incumbent will also provide support in managing transactions from inquiry to funding including any post advance undertakings.

Requirements

Minimum of 3 to 5 years of experience in the commercial mortgage market
Minimum of 1 year in commercial mortgage underwriting
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.

Nice To Haves

Familiarity with CMHC policy and the multi-family marketplace is an asset.
Bachelor’s Degree in Business preferred
Mortgage Agent License an asset

Responsibilities

Support/join Director(s) / Senior(s) of Commercial Mortgages on sales calls aimed at developing new client relationships or enhancing and maintaining existing customers
Work under the direction of Vice President Origination to broaden market knowledge and grow industry profile
Interact with assigned clients as required to facilitate prompt response to questions, enquiries or issues in order to provide "best in class" service
Apply acquired industry/company knowledge to the development of client/prospect proposals for financial and strategic solutions to meet client needs
Support and co-manage the assigned Director(s) / Senior(s) loan pipeline ensuring that data is accurate and up to date. Support any ongoing initiatives / call programs / marketing strategies as directed by the Vice President, Origination
Support, prepare and participate with the Director(s) / Senior(s) in liaising with Investment Management in order to understand Investor requirements for loan quality, pricing and structure. Where needed adjust proposed loan parameters to reflect the relative risk in order to obtain Investor loan approval .
Prepare initial financial analysis and loan sizing sheet with recommendation for review by Director(s)
Prepare and Issue Letters of Interest
Coordinate and drive gathering of all due diligence required by Investment Management to complete underwriting submission
Review with the Director(s) / Senior(s) to ensure that all loan submissions are prepared by the underwriting team contain all relevant facts and arguments that support or negate the loan application.
Manage CMHC insurance process (i.e. secure Certificate of Insurance and resolve issues that are referred from funding related to zero hold back release)
Assist the Director(s) / Senior(s) to oversee the progress of a loan through all stages from inception to funding in order to ensure credit quality and timelines are met and a deal is retained through ongoing communication with the Funding and Investment Management teams
In partnership with Funding team monitor and follow up to ensure funding conditions will be satisfied to meet targeted funding dates and proactively solving issues or bringing them to the attention of the Director(s)
Perform site inspections on mortgaged properties
Follow up and close any post funding items including undertakings or outstanding documentation
Monitor and co-manage Director(s) renewing mortgage portfolio
Ensure assigned portfolio is up to date on Salesforce
Develop relationships with mortgage brokers, direct borrowers, real estate broker networks, REIT’s REOC’s and CMHC
Supply market intelligence to be utilized in educating and updating existing investors and to support the marketing of products to investors and provide input on marketing initiatives and materials
Demonstrate ability to market MCAP commercial mortgage independently by the end of training period
Identify and develop a target “book” of business and market segment in preparation of moving on to the subsequent Origination role