MCAP Published: October 4, 2017
Location
Vancouver, Canada
Job Type
Years of Experience Required
3 to 5 Years
Licenses / Registrations Required?
NA
Start Date
ASAP
Contact Name
Vinoth

Description

Job Summary

This position is responsible for funding various types of construction loans; processing financial and non-financial transactions as well as ensuring data records are accurately maintained. This position is responsible for identifying credit risks and ensuring loan security is in place in the face of changing conditions. The role requires an individual to provide exceptional customer service to our Investors and Borrowers in order to foster, build and maintain relationships.

Key Responsibilities

File Management

  • Review commitment letters, based upon approved credits;
  • Review and ensure Mortgage loan terms mirror the committed terms;
  • Mandate external consultants (e.g. Lawyers, insurance consultant, Quantity Surveyors and work closely with third party consultants from mandate date until sign-off date on the compliance of the documents with the lender’s requirements;
  • Collect, review and verify loan documentation and funding information from various stakeholders and third parties, to ensure all pre-funding requirements are met or waived by appropriate authorities in time for the established funding date;
  • Analyze third party reports such as geotechnical, environmental, appraisal and due diligence reports and make decisions within the delegated authority as to their acceptability;
  • Ensure approvals and mortgage security are in place, for every advance and that additional security is taken as loan/project conditions change;
  • Review and ensure Mortgage loan terms mirror the committed terms;
  • Follow-up for Funding Condition Fulfillment;
  • File and Loan System set-ups;
  • Diarize event items on the loan administration system: e.g. insurance, financial statements, solicitor reports.
  • Deliver services as contracted, and protect confidentiality of loan information to ensure client satisfaction, loyalty and retention;

Construction Loans

  • Analyze and verify the cost consultant’s construction progress report regarding completed cost, cost-to-complete, budget variation, holdback, construction schedule, project cash flow, compliance letters, liens, building permits, certificate of payment, etc., to ensure that correct allowable draw amounts are authorized;
  • Follow-up with Production Team and borrower regarding the disbursement of funds, undertakings, payment of taxes and consultant bills, certificate of substantial completion and occupancy permit, transfer from builder’s risk assurance to operating insurance, etc;
  • Ensure purchaser deposits are being paid as scheduled.
  • Ensuring cash equity as well as presale deposits being injected into the project are verified.

 

Maintain Financial and Non-Financial Databases

Determine the deal structure from various document sources as well as interpret unique aspects of various product types, and set up loan facilities to allow all aspects of the loan to be monitored and accurately reported, for use by other stakeholders and MCAP data users;

  • Collect, review and report on lot/unit agreements of purchase and sales, and verify net sales proceeds are sufficient to repay the loan;
  • Set-up and post all transaction to the loan administration system;
  • Diarize and follow-up on event items on loan administration system. Follow-up includes, special conditions required to be met by the borrower within established timelines as set out in the commitment,
  • Diarize PPSA, insurance, financial statements, solicitor reports, and instruction letters from third party professionals.

Qualifications

Education

  • Bachelor degree

Experience

  • Minimum three to five years related construction funding or commercial term funding experience

Skills/Knowledge

  • Excellent organizational and time management skills, ability to prioritize
  • Working knowledge of MS Office
  • 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

 

Interested candidates may apply to: vinoth.chandrasekar@mcap.com

 

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