Souscripteur; trice hypothécaire commercial; e bilingue/Bilingual Commercial Mortgage Underwriter
Job in
Montreal, Montréal, Province de Québec, Canada
Listing for:
MCAP
Full Time
position
Listed on 2026-06-19
Job specializations:
-
Finance & Banking
Financial Analyst, Real Estate Finance, Risk Manager/Analyst
Job Description & How to Apply Below
Position: Souscripteur(trice) hypothécaire commercial(e) bilingue / Bilingual Commercial Mortgage Underwriter
Location: MontrealThe Role
MCAP is seeking an experienced, energetic underwriter to join their growing Commercial Mortgage Group. The individual must have at least 5 years of experience underwriting commercial real estate (with an emphasis on CMHC term and construction) and a strong understanding of standard lending practices, while also finding creative solutions to mitigate risk.
The role is results driven and requires work be completed in a timely manner to achieve a high level of client service while meeting established annual volume targets.
This position is suitable for someone who enjoys a fast-paced entrepreneurial environment, has meticulous attention to detail along with the ability to multi task and consistently meet deadlines.
This position is responsible for the underwriting of both conventional and CMHC loans (focus is primarily term business with some construction) that are generated by the Commercial Originators and approved in accordance with CMG’s delegated authorities. Loans being underwritten are typically in the range of $5M to $30M.Higher and more complex loans may be assigned for training purposes to aid in the individual’s development.
General duties will include analyzing property rent rolls and income statements, assessing market conditions and conducting a fulsome financial review of the Borrower and Guarantors to determine their financial strength and experience, alongside any otherassociated due diligence items in order to prepare applications to CMHC for mortgage insurance, Loan summaries for MCAP or its Investors, and Commitment Letters.
The incumbent will coordinate rate sets, loan sales and work closely with the Funding Team to ensure all credit conditions are addition, this position will assist in preparing/presenting documentation for their loan files to the Investor for purposes of sale.
Underwriting Analysis
Obtain all relevant information, ., rent roll, property level operating statements, invoices, Borrower/Guarantor financial statements, property management contracts, leases required to complete in-depth loan analysisReview all third-party reports which may include an appraisal, environmental site assessment, building condition assessment and for new builds, the quantity surveyor report/engineer certificates. Opine on adequacy of the reports and discuss any shortcomings/issuesComplete in-depth loan analysis/underwriting to determine the level of financing available based on acceptable thresholds for loan-to value, loan-to-cost and debt coverageReview market reports to determine an acceptable capitalization rate in order to determine market valueReview market reports to assess the long-term viability/performance of the property’s rent and occupancy levelsDetermine the financial and management capacity of the Borrower and Guarantors;this will include reviewing up to 3 years of financial statements to assess their equity position as well as reviewing the operations of all their real estate assets.In addition to the above, for construction loans, one must review the Construction Budget to assess reasonableness by reviewing market Cost Guides, assess the experience of the DeveloperReview requests to waive bonding and determine the experience and credit worthiness of the sub-tradesAssess all possible exit scenarios, including renewal, refinance or sale.Take a solution focused approach to underwrite by offering alternative structures and/or funding conditions/solutions as appropriate and discuss with the Origination Team or in some instances the Borrower or its Broker representative.Loan Summary/CMHC Mortgage Insurance application
Prepare a detailed report demonstrating the cashflow analysis and NOI calculation, to ensure LTV, LTC and DSCR are met as per addition, include property description, market analysis for vacancy and cap rate calculation, financial analysis of the borrowing entity and corporate guarantors, along with confirmation of personal net worthThe report will be used to obtain internal loan approval.
It requires a thorough and well-reasoned recommendation within MCAP’s policy and risk toleranceFor CMHC applications, follow a similar process to the above ensuring…
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