About the Job
The Senior Associate will support the portfolio management team in monitoring an active commercial mortgage portfolio of over 200 loans, covering loan maturities, renewals and extensions, risk assessment, and reporting to senior management and lending partners. This position is for an existing vacancy.
Responsibilities
- Liaise with the Origination team, Brokers and Borrowers to ensure timely renewal of loans, as needed.
- Identify any risk factors or issues uncovered during the renewal process and escalate to senior management, as needed.
- Recommend extension terms for commercial real estate mortgages across all asset classes (multi-residential, retail, office, industrial, land, special purpose) and re-underwrite wherever required, and for various loan types including bridge, construction, inventory and high-ratio loans.
- Draft and issue renewal letters and notices to Borrowers.
- Attend meetings with our lending partners and provide weekly written reports on status of renewals to our partners.
- Prepare internal management reports and develop asset management reports to assist senior management with risk management and operational efficiency.
- Prepare gross yield analysis by loan across the portfolio, identifying any issues to Mortgage Servicing, as needed, and escalating any remaining issues to the Management.
- Ensure communications to brokers and borrowers are completed on schedule.
- Assist with resolving property tax arrears, insurance issues, documentation of amendments and other administrative matters, and escalate as needed.
- Maintain internal databases and collaborate with the Mortgage Servicing group and Accounting group to ensure consistent and comprehensive management of the overall portfolio.
- Provide overall portfolio management support, including audit support, as required.
- Respond to all inquiries in a timely and professional manner.
Qualifications
- Minimum 5 years relevant experience in commercial real estate loan, portfolio management, risk management underwriting or mortgage servicing.
- Experience with CMHC-insured multi-residential financing, including MLI Standard and MLI Select programs, insurance requirements, and the renewal, re-underwriting and administration of insured loans
- Knowledgeable about commercial real estate and comfortable reviewing property-level information (i.e. appraisals, rent rolls, operating statements, financial statements, etc.)
- Superior written and analytical skills. Strong analytical and problem-solving skills, ability to identify issues and determine course of action in situations with little or no precedent
- Proficient in Microsoft Excel, Word and Outlook.
- Strong interpersonal, organizational and time management skills.
- Ability to work independently and under time pressure. Ability to drive process improvement
- Ability to communicate with brokers and other third-party referral sources.
- Bilingual (French/English) is an asset.
Base Salary: $80,000 - $105,000
About Harbour Mortgage
Harbour Mortgage is a private commercial mortgage lender providing first, second, construction, bridge, mezzanine and CMHC loans on income producing properties and development projects. Harbour has originated and funded over $9 billion in real estate debt transactions in all major markets across Canada with annual volumes in excess of $1 billion. Harbour Mortgage currently administers approximately $2.0 billion in mortgage investments.
