Commercial Mortgage Analyst Job Toronto area,Ontario Canada,Finance & Banking

The Role

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.

Preparation of Loan Submissions for assigned deals

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, . 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 Agreements

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

Loan Modifications (. corporate reorganization, release of security, 2nd mortgage consent, easements consents, postponement of interests,

Obtain required information . 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.

Subsequent Construction Draws/Advances

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.

Mandatory Repairs, Holdbacks and Undertakings

Receive and review regular Precision LM generated reports identifying action items that require ongoing monitoring and follow up.

Recommend to management, investor, master servicer or rating agency where a borrower has satisfied requirements for the release of an undertaking, repair and maintenance holdback, escrow or other obligation.

Ensure the closure of items and update the Precision LM mortgage system as required.

Responsible for regular reporting to investors for repair, holdback and undertaking items…


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