Sr. Manager, Commercial Portfolio Management

The role is responsible for the administration and oversight of loans insured under various CMHC multi-residential and social housing programs, with an understanding of applicable CREFC guidelines related to CMBS transactions and reporting requirements.

Leveraging their commercial mortgage knowledge and experience, the incumbent contributes to the ongoing growth and management of MCAP’s commercial mortgage portfolio while supporting established quality assurance, risk management, and compliance standards.

• Provide ongoing reporting on the CMHC renewal book to Commercial Mortgages Investment Committee with the goal of maximizing both retention and profitability.
• Review and approve maturing CMHC loans that are within the incumbent’s delegated authority limits.
• As required, support CMG Loan Servicing in completing the execution and registration documents required under the terms of the approved renewal.

• Prioritize and allocate loan modification requests to the analyst team and ensure timely processing of requests
• Assist with any ongoing due diligence items required to successfully complete the modification.
• Ensures loan medication requests are completed in accordance with established timelines and internal procedures by allocating work and providing technical guidance as required.
• Approve loan modification requests within delegated authority

• Preparation and oversight of the watchlist that is presented monthly to the Commercial Mortgages Investment Committee
• For loans on the watchlist, monitoring and confirming that Borrower’s execute on their commitments to rectify issue(s) that caused the loan to be on the list. (examples Loan Deferrals are recovered, properties damaged by fire are rebuilt, property taxes are brought current etc.)

• Management of a portfolio of non-performing mortgages compliant with the terms established by MCAP’s investors, CMBS requirements and CMHC guidelines with monthly reporting presented to the Commercial Mortgages Investment Committee.
• Collect relevant material to formulate a well-reasoned action plan which is to be circulated for review and approval. To review periodic progress reports consistent with company policy and MCAP’s contractual obligations to its investors and stakeholders.
• Independently carry out the terms of approved action plans while maintaining regular dialogue with borrowers, investors, lawyers, property managers, appraisers and realtors as may be required.
• Analyze borrower covenants pertaining to default accounts and assess prospects for recovery, work out plan etc. and make recommendation to Director for approval.
• Ability to independently oversee monthly cashflow, operating statements, capex etc. for default properties.
• Negotiate settlements with borrower covenants per the terms of covenant recovery contracts with our investors or as obligated by CMHC.
• Submit monthly arrears report to CMHC
• Property management, negotiate & hire 3rd party servicer to manage and maintain property as a mortgage in possession.
• Negotiate and execute Listing Agreement, Purchase & Sale Agreement.
• Oversees analysts in managing defaulted loans, including legal proceeding, reporting, and execution of workout strategies.
• Provide guidance and oversight to ensure consistency, accuracy, and adherence to internal policies and external requirements.

• Receive and review regular Precision LM system-generated reports including matured and maturing loans, projected maturities, narrative arrears, non-performing arrears status, and event action items.
• Prepare and provide regular management, investor, insurer and regulatory reporting per established parameters or contractual obligations on a monthly, quarterly, semi-annual or annual basis.
• Receive, review and consolidate periodic reporting for CMBS accounts as Master and Special servicer and consolidate for submission to the reporting agent.
• Maintain and update a tracking system within the Precision LM mortgage system for ongoing and recurring portfolio management duties…