Commercial Mortgage Analyst

Commercial Mortgage Analyst

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.

This position is responsible for the underwriting of both conventional and CMHC annual reviews, renewals, assumptions, assignments, amendments, loan modifications, etc. for review and approval by the Director of Portfolio Management.

The Commercial Loan Analyst will provide support to the Director of Portfolio Management by structuring, 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 loan memorandums, renewal agreements, assumption agreements and loan summaries. The incumbent also will coordinate rate sets, construction advances and resolve loan funding matters under the supervision of the Director of Portfolio Management.

• Ensure compliance with the company’s established policies and procedures with recommendations submitted for approval to management based on approved delegations of authority
• Obtain all relevant information, i.e. rent roll, financial statements, operating statements, property management contracts, leases, personal net worth statements, 3rd party reports, etc. required to complete in-depth loan analysis for renewals, assumptions, assignments, etc.
• Summarize all property details, figures and analysis into a Loan Summary to be circulated to Management 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.
• Take a solution focused approach to underwriting by offering alternative structures and/or conditions/solutions as appropriate.
• Review credit packages prior to submission for policy compliance, structural soundness and credit weakness
• Assist in completing annual reviews of conventional, CMHC insured and CMBS loans.
• Provide overflow support to CMG as required

• Prepare Loan Renewal, Assumption and Extension Agreements for submission to the broker or borrower outlining the terms and conditions reflecting the loan approval.

• Obtain required information i.e. proposal, P&S Agreement, financials, rent rolls, PNW statements to summarize all current detail in a prescribed format to be submitted for approval by management, investor, master servicer, controlling class representative, or rating agency as required.
• Prepare and issue communications to the Borrower to document the proposed course of action.
• Receive executed Borrower communications, fees or documents and liaise with the servicing group to carry out the approved plan.
• Assist with any ongoing due diligence items required to successfully complete the modification.

• Review of Development Agreements, Site Plan Approval, Legal Survey, Soils &Environmental reports, Insurance, Pre Funding Conditions, and Certificates and Declarations to ensure requirements are met before each advance
• Review and confirm Committed Costs and Cost to Complete are acceptable as a % of the construction budget by way of contracts, purchase orders, change order, invoices, unit price contract, etc.
• Review of the budget and update the relevant costs to determine if there has been any negative changes in the overall budget, contingency, interest reserve, scheduling, etc. and recommend solutions to mitigate findings
• Review and recommend draw requests to Management for approval.

• Receive…