Commercial Mortgage Analyst

MCAP; Toronto; On-site; CAD 70,000 - 90,000; Full time

Job summary

A leading mortgage finance company in Toronto is seeking a Commercial Mortgage Analyst. This role entails underwriting, loan modifications, and financial analysis for commercial loans. The ideal candidate has at least 3 years of expertise in underwriting and a business-related degree. Join a dynamic team and contribute to one of Canada’s largest independent mortgage finance companies, known for its extensive asset management.

Benefits

Competitive total rewards

Ongoing learning and development

Dynamic work environment

Qualifications

• Minimum 3 years’ experience in a commercial underwriting capacity.
• Experience analyzing Appraisal/Environmental reports.
• Ability to multitask in a fast-paced environment.

Responsibilities

• Prepare Loan Submissions ensuring compliance with policies.
• Handle Loan Modifications and gather required info.
• Coordinate Property Inspections and track findings.
• Manage non-performing mortgages in line with guidelines.
• Prepare management and regulatory reports.

Skills

Knowledge of commercial loan underwriting

Understanding of CMHC policies

Financial statement analysis

Proficiency with MS Office

Strong analytical skills

Education

Bachelor degree in business/commerce

Job description

Overview

Commercial Mortgage Analyst

MCAP at a Glance: Joining MCAP means you will be part of a diverse workforce of highly talented individuals recognized for expertise and success. MCAP provides competitive total rewards, ongoing learning and development, and opportunities in a dynamic, entrepreneurial environment.

The Role

This position is responsible for underwriting conventional and CMHC annual reviews, renewals, assumptions, assignments, amendments, loan modifications, and related tasks for review and approval by the Director of Portfolio Management. The Commercial Loan Analyst will support the Director of Portfolio Management by structuring, underwriting and conducting in-depth assessments of creditworthiness and loan quality on commercial loans. General duties include analyzing financial and operating statements and other due diligence items to prepare loan memoranda, renewal agreements, assumption agreements and loan summaries. The incumbent will coordinate rate sets, construction advances and resolve loan funding matters under supervision.

Responsibilities

• Prepare Loan Submissions for assigned deals: ensure compliance with registered policies and procedures; obtain rent rolls, financial statements, operating statements, leases, contracts, personal net worth statements, third-party reports, etc.; summarize property details and analysis into a Loan Summary for management review; complete in-depth loan analysis/underwriting; provide alternative structures/solutions when appropriate; review packages for policy compliance and credit strength; assist with annual reviews of conventional, CMHC insured and CMBS loans; provide overflow support to CMG as required.
• Prepare Loan Renewal, Assumption and Extension Agreements for submission to brokers or borrowers outlining terms and conditions reflecting loan approval.
• Handle Loan Modifications (e.g., corporate reorganization, release of security, second mortgage consent, easements, postponement of interests, etc.): gather required information, summarize in prescribed format for approval, issue communications to borrowers, liaise with servicing group, and assist with ongoing due diligence.
• Review and manage Subsequent Construction Draws/Advances: verify development agreements, site plan approvals, environmental reports, insurance, and funding conditions; assess costs against the budget and approve draw requests.
• Oversee Mandatory Repairs, Holdbacks and Undertakings: monitor items, advise on releases, maintain records in the mortgage system, and report to investors and stakeholders.
• Coordinate Property Inspections: contract or schedule inspections, review findings, plan corrective actions, and track in the system.
• Support Default Management: manage non-performing mortgages in line with investor and CMHC guidelines; prepare action plans and maintain communications with borrowers, investors, and professionals.
• Reporting: prepare management, investor, insurer and regulatory reporting; maintain portfolio tracking and surveillance within the system.

What You Bring To The Team

• Knowledge of conventional commercial loan underwriting for office, retail, industrial, and other commercial real estate financing; strong market knowledge of CRE trends, transactions, pricing and cap rates.
• Understanding of CMHC policies and procedures related to multi-unit residential property.
• Minimum 3 years’ experience in a commercial underwriting capacity and 3 years’ knowledge of financial statement analysis.
• Solid experience in analyzing APCI/Appraisal/Environmental reports and other related documents; up-to-date knowledge of market trends and economic conditions.
• Proficiency with MS Word, Excel, PowerPoint; strong initiative, communication, organizational and time-management skills; ability to multitask in a fast-paced environment; strong analytical and problem-solving abilities; customer service orientation; ability to work independently and in a team; integrity and ownership of actions.
• A bachelor degree in business/commerce with a minimum of five years of relevant experience.

If this sounds like you and you are looking to be a part of one of Canada’s largest independent mortgage finance companies, we want to hear from you!

Be A Part Of Something Great

MCAP is Canada’s largest independent Mortgage Finance company with over $150 billion in assets under management. For over 35 years, MCAP originates, trades, securitizes and services mortgages across Canada. MCAP originates residential mortgages through the broker channel and is a leader in residential construction lending with a broad team serving developers, construction and lender clients nationwide.

Position #: req2085

Employment Status: Permanent Full Time

Location: Toronto, Ontario

Number Of Openings: 1

Department: Commercial Mortgage

Internal Job Title: Commercial Mortgage Analyst

The above information is intended to indicate the general nature and level of work performed. It is not a comprehensive inventory of all duties, responsibilities and qualifications. MCAP provides equal opportunities for all applicants and is committed to fostering an inclusive environment. If you require accommodation, we will work with you to meet your needs.