Associate, Commercial Origination
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
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.
Origination
- Support/join Director(s) / Senior(s) of Commercial Mortgages on sales calls aimed at developing new client relationships or enhancing and maintaining existing customers
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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
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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
Loan Approval
- 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 .
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Prepare initial financial analysis and loan sizing sheet with recommendation for review by Director(s)
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Prepare and Issue Letters of Interest
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Coordinate and drive gathering of all due diligence required by Investment Management to complete underwriting submission
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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.
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Manage CMHC insurance process (i.e. secure Certificate of Insurance and resolve issues that are referred from funding related to zero hold back release)
Loan Management
- 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
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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)
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Perform site inspections on mortgaged properties
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Follow up and close any post funding items including undertakings or outstanding documentation
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Monitor and co-manage Director(s) renewing mortgage portfolio
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Ensure assigned portfolio is up to date on Salesforce
Industry/Product Knowledge
- Develop relationships with mortgage brokers, direct borrowers, real estate broker networks, REIT’s REOC’s and CMHC
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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
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Identify and develop a target “book” of business and market segment in preparation of moving on to the subsequent Origination role
What You Bring To The Team
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Minimum of 3 to 5 years of experience in the commercial mortgage market
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Minimum of 1 year in commercial mortgage underwriting
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Proficient with MS Word, MS Excel, MS PowerPoint,
- Ability to demonstrate initiative/confidence and is decisive.
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Familiarity with CMHC policy and the multi-family marketplace is an asset.
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Exceptional oral and written communication skills
- Excellent organizational and time-management skills
- Ability to multi-task in a fast paced environment
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Strong analytical and problem solving skills
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Proven ability to foster relationships
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Strong customer service skills.
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Self-driven, motivated with the ability to work independently and in a team environment
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Carries out duties with integrity and takes responsibility for actions.
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Bachelor’s Degree in Business preferred
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Mortgage Agent License an asset
If this sounds like you and you are looking to be a part of one of Canada’s largest independent mortgage finance companies, then we want to hear from you!
Be A Part Of Something Great
MCAP is Canada’s largest independent Mortgage Finance company with over $150 billion in assets under management providing mortgage solutions for residential and commercial properties. For over 35 years, 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 #: req2210
Employment Status: Permanent Full Time
Location: Toronto; Ontario
Number Of Openings: 1
Department: Commercial Mortgage
Internal Job Title: Associate, Commercial Mortgages
Salary Range: $75,000 - $95,000
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.
