Director, Commercial Mortgages
MCAP
Date: 1 day ago
City: Toronto, Ontario
Contract type: Full time
MCAP at a Glance
Joining MCAP means you will be a part of our diverse workforce of highly talented individuals who are recognized for their expertise and success! At MCAP, your professional expertise, commitment to teamwork and passion for service excellence are recognized and rewarded with competitive total rewards offering, a career with continuous learning and development (formal & informal training), and exciting opportunities in a dynamic, entrepreneurial environment.
The Role
This position is responsible for successfully driving the profitability of MCAP’s commercial term and CMHC insured construction lending programs under the leadership of the Vice President, Origination working in partnership the Vice President of Investment Management. The incumbent will be affiliated with our Western Canada origination team reporting to the Sr. Director there and will be the team's origination representative for corporate clients based primarily in Ontario in addition to originating conventional and insured commercial mortgage opportunities through direct relationships, and commercial brokers through developing, maintaining, and managing relationships with borrowers, brokers and other market participants.
The incumbent must critically assess loan applications and be prepared to recommend said applications for approval and manage approved transactions through the commitment and funding stages of the loan life cycle in partnership with the underwriting and funding teams.
Build, maintain, and manage relationships with clients
Be A Part Of Something Great
MCAP is Canada’s largest independent Mortgage Finance company with over $150 billion in assets under management providing mortgage solutions for residential and commercial properties. For over 35 years, MCAP originates, trades, securitizes and services mortgages in offices across Canada. MCAP originates residential mortgages exclusively through the mortgage broker channel as we believe that a professional mortgage broker is a consumer's best option and MCAP actively promotes the services of mortgage brokers across the country. MCAP is also a leader in the Canadian residential construction lending market with over 25 years in the business. Our teams of dedicated professionals serve a variety of developer, construction and lender clients across Canada.
Position #: req1896
Employment Status: Permanent Full Time
Location: Toronto; Ontario
Number Of Openings: 1
Department: Commercial Mortgage
Internal Job Title: Director, Commercial Mortgages
The above information in this description has been designed to indicate the general nature and level of work performed by employees in the position. It is not designated to contain a comprehensive inventory of all duties, responsibilities, and qualifications required of employees assigned to this job.
MCAP provides equal opportunities for all applicants and is committed to fostering an inclusive, accessible environment, where all employees feel valued, respected and supported throughout the recruitment and employment process. If you require accommodation, we will work with you to meet your needs.
Joining MCAP means you will be a part of our diverse workforce of highly talented individuals who are recognized for their expertise and success! At MCAP, your professional expertise, commitment to teamwork and passion for service excellence are recognized and rewarded with competitive total rewards offering, a career with continuous learning and development (formal & informal training), and exciting opportunities in a dynamic, entrepreneurial environment.
The Role
This position is responsible for successfully driving the profitability of MCAP’s commercial term and CMHC insured construction lending programs under the leadership of the Vice President, Origination working in partnership the Vice President of Investment Management. The incumbent will be affiliated with our Western Canada origination team reporting to the Sr. Director there and will be the team's origination representative for corporate clients based primarily in Ontario in addition to originating conventional and insured commercial mortgage opportunities through direct relationships, and commercial brokers through developing, maintaining, and managing relationships with borrowers, brokers and other market participants.
The incumbent must critically assess loan applications and be prepared to recommend said applications for approval and manage approved transactions through the commitment and funding stages of the loan life cycle in partnership with the underwriting and funding teams.
Build, maintain, and manage relationships with clients
- Maintain existing client relationships from an established client base
- Generate repeat business from existing clients
- Identify and develop new business from new clients introduced to MCAP
- Educate new and current clients on MCAP products
- Represent MCAP at various industry events
- Provide input into new product initiatives based on market needs
- Monitor client service levels to ensure they are met
- Secure mortgage loan applications from borrowers and brokers
- Add and expand selectively to the MCAP/CMHC Approved Correspondent network
- Lead CMHC applications for Certificates of Insurance
- Ensure that all loan submissions prepared by the underwriting team contain all relevant facts and arguments that support or negate the loan application.
- Liaise with Investment Management in order to understand various Investor requirements for loan quality and pricing
- Support Investment Management in obtaining Investor loan approval including participation in presentations as required.
- Structure, price & adjust the loan to reflect the relative risk of the loan from a credit quality perspective.
- Issue and negotiate Letters of Interest and Commitment Letters.
- Manage CMHC insurance process (i.e. secure Certificate of Insurance and resolve issues that are referred from funding related to zero hold back release)
- Perform site inspections
- Oversee the progress of a loan through all stages from inception to funding in order to ensure credit quality and timelines are met and a deal is retained through ongoing communication with the funding and an investment management teams
- Ensure assigned portfolio is up to date on Salesforce contact management platform
- Supply market intelligence to be utilized in educating and updating existing investors and to support the marketing of products to investors
- Provide input and feedback on Commercial marketing materials (ex. Ads, website, etc)
- Develop and maintain relationships with CMHC, the mortgage broker and real estate broker networks
- Minimum of 5 to 7 years experience in the commercial mortgage market with prior experience, an existing client base and a proven track record originating commercial mortgages with CMHC multi-family term and construction experience preferred
- W ork independently environment with an ability to build a rapport with colleagues and work collaboratively in a team environment developing trusted relationships in particular with Investment Management, Funding and Portfolio Management departments
- Excellent oral and written communication skills
- Candidates with client facing experience are preferred
- Detail-Oriented
- Strong analytical and problem-solving skills
- Proficient with MS Word, MS Excel, MS PowerPoint,
- Ability to demonstrate initiative/confidence and is decisive.
- Familiarity with CMHC policy and the multi-family marketplace is an asset.
- Ability to originate transactions with a demonstrated track in marketing and deal negotiations
- Bachelors Degree in Business preferred
- Availability to work with different time zones within Canada; Job location is Toronto
Be A Part Of Something Great
MCAP is Canada’s largest independent Mortgage Finance company with over $150 billion in assets under management providing mortgage solutions for residential and commercial properties. For over 35 years, MCAP originates, trades, securitizes and services mortgages in offices across Canada. MCAP originates residential mortgages exclusively through the mortgage broker channel as we believe that a professional mortgage broker is a consumer's best option and MCAP actively promotes the services of mortgage brokers across the country. MCAP is also a leader in the Canadian residential construction lending market with over 25 years in the business. Our teams of dedicated professionals serve a variety of developer, construction and lender clients across Canada.
Position #: req1896
Employment Status: Permanent Full Time
Location: Toronto; Ontario
Number Of Openings: 1
Department: Commercial Mortgage
Internal Job Title: Director, Commercial Mortgages
The above information in this description has been designed to indicate the general nature and level of work performed by employees in the position. It is not designated to contain a comprehensive inventory of all duties, responsibilities, and qualifications required of employees assigned to this job.
MCAP provides equal opportunities for all applicants and is committed to fostering an inclusive, accessible environment, where all employees feel valued, respected and supported throughout the recruitment and employment process. If you require accommodation, we will work with you to meet your needs.
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