Full Job Description
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Regular or Temporary:
Language Fluency: English (Required)
1st shift (United States of America)
Please review the following job description:
Provide loan origination functions in a loan production office.
Essential Duties and Responsibilities
Following is a summary of the essential functions for this job. Other duties may be performed, both major and minor, which are not mentioned below. Specific activities may change from time to time.
Extensive understanding and experience in commercial real estate and/or commercial real estate capital markets.
Meet or exceed the agreed upon personal fee and mortgage servicing rights (MSR) production goal.
Continually research and identify customers (those that need commercial mortgage loans) within defined markets.
Continually research and understand the real estate markets in which they operate.
Continually research, identify and track all commercial real estate properties that are proposed, under construction, newly completed or otherwise have a high probability for mortgage loan financing.
Establish and continually maintain personal relationships with customers and lenders; secondarily with brokers, leasing agents, appraisers, and other commercial real estate professionals.
Identify and target those customers that will provide the highest probability of meeting the personal fee production goal and the lending goals of the lenders that are represented.
Meet periodically in person with all customers to identify their goals, aspirations, problems and properties that need or will need financing. Provide customers with sound advice and financing solutions that considers their goals, aspirations and problems.
Establish and maintain personal relationships with lender loan officers.
Establish and maintain a contact database of borrowers, lenders, brokers, leasing agents and others in the commercial real estate industry using company approved software.
Develop and implement an annual marketing plan that informs potential borrowers of the services provided by Grandbridge Real Estate Capital and its lenders.
Solicit and negotiate signed agreements that give Grandbridge Real Estate Capital the right to negotiate commercial mortgage loans for customers on an exclusive or non-exclusive basis.
Work with customers to obtain materials necessary to properly underwrite the loan opportunity.
Perform preliminary underwriting of the loan, properly identify the most probable lenders and present the loan opportunity to the lenders.
Work with support staff in the preparation of the preliminary and final loan submissions.
Negotiate the terms and conditions of the mortgage loan with both the borrower and the lender.
Obtain bi-laterally signed mortgage loan commitments.
Ensure that Grandbridge Real Estate Capital has earned a placement fee when the commitment is bi-laterally signed.
Ensure that all fees due to Grandbridge Real Estate Capital are collected.
Work with support staff, lender and borrower to ensure a trouble free closing process.
Work with support staff to maintain hard and soft pipeline reports on IMS.
Attend real estate industry trade functions, representing Grandbridge Real Estate Capital.
Perform other duties as requested by the office manager.
Attend courses and seminars that ensure competence in commercial real estate finance, appraisal and sales.
Is able to:
a. Obtain, understand and analyze data needed to underwrite loans and prepare mortgage loan submissions from property owners, borrowers, lenders and third-party sources. Included may be leases, sales contracts, income and expense statements, surveys, property income and expense statements, borrower financial statements, articles of incorporation, partnership agreements, deeds, easements, environmental reports, property condition reports, appraisals, title policies, deeds of trust, notes, mortgage loan commitments, lender checklists, lender loan program requirements, real estate market surveys, comparable sales, overall capitalization rates, vacancy rates, prime and t-bill rates, to name a few;
b. Inspect properties, take photographs, make notes and maps as to the physical and economic conditions of the property, its immediate area, its neighborhood and its city;
c. Interview owners, tenants, third-party report providers, requesting and obtaining information from them as needed;
d. Analyze leases, historical income and expense characteristics to derive an estimate of Net Operating Income for a commercial real estate property. Included is the ability to analyze the Net Operating Income with respect to normal market income levels, stabilized vacancy rates, normalized expenses, lender’s specific requirements or lender’s appraisal standards;
e. Analyze the borrower’s legal structure and financial statements with regard to normal market parameters and the lender’s requirements;
f. Analyze the characteristics of the real estate with respect to industry norms and underwrite loans to conform to specific lender requirements.
In the absence of analyst or appraiser support, is able to understand specific lender requirements and prepare preliminary and final mortgage loan submissions that conform to these requirements.
In the absence of staff support, is able to order, track and analyze appraisals, environmental and engineering studies, credit reports, Dunn & Bradstreet reports, demographic reports and other third-party reports needed for the mortgage loan submission and/or closing. Is able to review third-party appraisals for compliance with lender requirements.
In the absence of staff support, is able to track the committed transaction through the closing process, obtaining additional information from the borrower that is needed for closing, including insurance binders and zoning letters.
Interface with both borrower and lender to negotiate the terms of commercial mortgage loans; including the negotiation of applications, commitments and loan closing.
The requirements listed below are representative of the knowledge, skill and/or ability required. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.
Bachelor’s degree in Business, or equivalent education and related training
Five years of experience as a loan officer or commercial real estate analyst, appraiser, broker, leasing agent or property manager, or equivalent
Well-developed sales skills
Strong computer skills; including expertise with Microsoft Word including the ability to create and utilize embedded spreadsheets, tables, digital photos from files, and modifying digital pictures using Microsoft WordArt, proficiency in Microsoft Excel including the ability to use financial functions, proficiency with contact databases, Lotus Notes
Understand the physical aspects of all commercial property types, typical real estate lending parameters, interest rate structures, and tests of reasonableness
High attention to detail
Ability to meet deadlines
Maturity and self-confidence to simultaneously handle a variety of assignments
Ability to work harmoniously with internal/external workers/customers
Excellent written and verbal communication skills
Ability to take initiative with nominal direction
Must have completed the Mortgage Bankers Association’s Commercial Real Estate Finance Underwriting Seminar, Courses 110, 120 and 310 of the Appraisal Institute and is a candidate actively pursuing the CCIM designation of the CCIM Institute, and/or equivalent professional experience
Ability to travel, occasionally overnight
1. Master of Business Administration (MBA) or Master’s degree in Finance or Real Estate
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