This position is responsible for successfully driving the profitability of MCAP’s commercial term lending programs in partnership with the Vice President of Commercial Originations.
The incumbent will generate CMHC insured commercial mortgage opportunities through developing, maintaining, and managing relationships with borrowers, brokers and other market participants that are to be placed with MCAP investors.
The incumbent must critically assess loan applications and be prepared to recommend said applications for approval and manage approved transactions through the commitment and funding stages of the loan life cycle in partnership with the underwriting and funding teams.
Identifies business opportunities by identifying potential prospects, while maintaining existing and developing new relationships outside the office. This role requires the employee to have a car and to be in and out of the office visiting customers, on average 3 days per week.
Build, maintain, and manage relationships with clients
- Identify and develop new client relationships
- Educate new and current clients on MCAP products
- Represent MCAP at various industry events
- Provide input into new product initiatives based on market needs
- Monitor client service levels to ensure they are met
- Secure mortgage loan applications from borrowers and brokers
- Add and expand selectively to the MCAP/CMHC Approved Correspondent network
- Lead CMHC applications for Certificates of Insurance
Origination and Structuring of Commercial Mortgages that are placed with MCAP Investors
- Ensure that all loan submissions prepared by the underwriting team contain all relevant facts and arguments that support or negate the loan application.
- Liaise with Investment Management in order to understand various Investor requirements for loan quality and pricing
- Support Investment Management in obtaining Investor loan approval including participation in presentations as required.
- Structure, price & adjust the loan to reflect the relative risk of the loan from a credit quality perspective.
- Issue and negotiate Letters of Interest and Commitment Letters.
- Manage CMHC insurance process (i.e. secure Certificate of Insurance and resolve issues that are referred from funding related to zero hold back release)
- Perform site inspections on mortgaged properties
- 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 an investment management teams
- Ensure assigned portfolio is up to date on the LMS Commercial Pipeline
Assist with the Development of the Investor Marketing strategy for the Commercial business
- Supply market intelligence to be utilized in educating and updating existing investors and to support the marketing of products to investors
- Provide input and feedback on Commercial marketing materials (ex. Ads, website, etc)
- Develop and maintain relationships with CMHC, the mortgage broker and real estate broker networks
Lead and Manage Staff
- Champion the company’s Vision, Mission and Values as set out in the Strategic Plan both internally and externally within the industry.
- Educate, coach and counsel staff to ensure they are empowered to effectively handle their roles in a confident and professional manner.
- Establish and maintain an effective system of communication throughout the business unit.
- Ensure a continuous improvement culture is established and encouraged.
- Bachelor’s Degree in Business preferred
- Mortgage Broker License is a must
- Minimum of 5 years business development experience in the commercial mortgage market
- CMHC insured commercial mortgage experience (preferred)
- Proficient with MS Word, MS Excel, MS PowerPoint,
- Ability to demonstrate initiative/confidence and is decisive.
- Familiarity with CMHC policy and the multi-family marketplace is an asset.
- Ability to originate transactions with a demonstrated track in marketing and deal negotiations