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Senior Commercial Underwriter, Toronto

Our client, is seeking an experienced, energetic Senior Commercial Underwriter to join their growing Commercial Real Estate division. The position requires someone who enjoys a fast paced entrepreneurial environment, has meticulous attention to detail along with the ability to multi task and consistently meet deadlines.

Responsibilities:

  Preparation of Loan Submissions and Term Sheets for assigned deals

  • Obtain all relevant information, i.e. rent roll, financial statements, invoices, property management contract, leases, appraisal, environmental site assessment, building condition assessment, etc. required to complete in-depth loan analysis.
  • Review appraisal, environmental site assessment and building condition assessment reports and opine on any issues.
  • Summarize all property details, figures and analysis into a Loan Summary to be circulated to Investor Credit Committee 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 funding conditions as appropriate.
  • Review credit packages prior to submission for policy compliance, structural soundness and credit weakness
  • Complete applications for Certificates of Insurance under the direction of the origination team ensuring appropriate due diligence is completed.
  • Follow up and help resolve any loan funding or asset management issues

Prepare financial review and assessment on property value and property condition

  • Perform property inspections where required and complete Property Inspection form.
  • Explain any discrepancies between outsourced inspection and own assessment
  • Perform estimate of property value and confirmation of third party property value provided
  • Prepare term sheet/letter of intent

  Prepare Commitment Letter

  • Prepare a Loan Commitment Letter for submission to the broker or borrower outlining the terms and conditions reflecting the loan approval

  Support Loan Funding and Sales

  •  Coordinate rate sets with Borrower, Capital Markets and Investors
  • Issue and negotiate mortgage term sheet and other documents required to effect a loan sale under the supervision of the Senior Director of Investment Management
  • Maintain and update LMS pipeline to ensure accurate funding dates
  • Work with the Senior Director of Investment Management as assigned on project specific due diligence programs
  • Provide market data support for borrower/broker, Investment Management and investor clients as directed
  • Research and maintain records relating to market conditions (e.g. vacancy rates, rental rates, cap rates, property values)
  • Present market information to borrower and investor clients
  • Significant contact with borrowers, CMHC, mortgage brokers, real estate brokers, appraisers and other professionals required. Communicate effectively in order to maintain strong relationships, with a focus on the growth of commercial loan portfolio

  Qualifications:


  • A bachelor degree in business/commerce with a minimum of five year's relevant experience
  • Knowledge of conventional, commercial loan underwriting for office, retail, industrial, and other forms of commercial real estate
  • Knowledge and understanding of CMHC policies and procedures related to residential property
  • Minimum 5 years' experience in a commercial underwriting capacity
  • Minimum 5 years knowledge of financial statement analysis
  • Knowledge and understanding of the commercial real estate market
  • In depth knowledge and understanding of commercial finance
  • Solid experience in analyzing AACI Appraisals, Environmental Reports (Phase I/II etc), Building Condition reports and other reports relating to commercial real estate finance
  • Up to date knowledge of current market trends and economic conditions
  • Proficient with MS Word, MS Excel, MS PowerPoint
  • Ability to demonstrate initiative/confidence and is decisive.
  • Exceptional oral and written communication skills
  • Excellent organizational and time-management skills
  • Ability to multitask 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.


To apply for this position, please contact:

Samar Ghorayeb

Director

Collins Recruitment Group

Phone: (416) 945-6601 (416) 945-6601  

Email: sghorayeb@collinsrecruit.com

 

All inquiries and applications will be held in strict confidence


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