Sr Capital Markets Analyst
National Cooperative Bank (NCB) is seeking a Sr Capital Markets Analyst position for its Arlington, VA office.
The Senior Capital Markets Analyst plays an essential role in multiple private, agency and CMBS loan sales within the Capital Markets team. The Senior Capital Markets Analyst will be responsible for conducting due diligence and re-underwriting commercial and multifamily saleable real estate mortgage loans originated for sale, preparing credit write-ups, working with Loan Originators, Investor Reporting, Master Servicing and the Loan Closing Team to assist in loan sale due diligence and/or to provide them information on sold loans. Other responsibilities will include populating the Backshop system with loan, property, and financial information received post-loan underwriting, preparing data tapes for loan sales, and submitting data in Fannie Mae’s proprietary Commitment & Delivery system.
1. Loan Sale Analysis/Due Diligence - 35%
Responsible for completing loan due diligence and loan re-underwriting for commercial and multifamily saleable real estate loans marked for securitization via CMBS transactions and Fannie Mae agency MBS transactions. Duties include ensuring all credit risks outside of the Fannie Mae Multifamily Selling and Servicing Guide are properly mitigated and approved by Fannie Mae prior to rate lock/trade. Additional duties include writing Asset Summary Reports, defending loans to investors/rating agencies throughout CMBS sale process, and following up with originators/loan servicers on pre- and post-closing items as it relates to these loans.
2. Loan Approval/Pipeline System (Backshop) - 15%
The person will populate Backshop, NCB’s real estate underwriting and origination system, with loan, borrower, and property-specific data received post-loan approval to ready the loans for due diligence and re-underwriting for all saleable loans.
3. Comfort tape/Data tapes - 20%
During CMBS loan sales, populate the accounting tape for all loans included in the sale and act as the point person by interfacing with outside accountants to tie out data on the tape. Interface with Investor Reporting, Loan Origination or other teams to provide outside accountants with loan specific information or request information on warehoused and/or sold loans.
4. C&D system - 10%
For all Fannie Mae sales, register deals on Fannie’s proprietary DUS Gateway system and submit all required data in Fannie Mae’s Commitment and Delivery (C&D) system to ensure that the loan is purchased by Fannie Mae.
5. Transaction Approval Memos (TAMs) - 10%
The person will act as the backup in preparing a Transaction Approval Memo for all loans sold to Fannie Mae. TAMs will generally include an asset summary, analysis of third party reports, an updated cash flow analysis, internal credit approval, and Fannie Mae approvals of loan-specific waivers.
6. File logistics - 10%
Prior to and during loan sales, work closely with Loan Closing Team, closing attorneys and other team members to ensure complete documentation and delivery of full loan files to investors and rating agencies. Particular duties include coordinating delivery of documents in connection with CMBS loan sales, including ensuring compliance with Diligence File requirements.
An undergraduate degree in business/finance or a related major
The role requires a candidate that has at least 5 years of CRE experience with the ability to assess and document CRE loan risk mitigation, complete asset summaries for loans, and very savy with spreads, spreasheet (formula's, valutations, and manipulating data within a spreadsheet)
Understanding of commercial real estate mortgage finance
Strong written and verbal communication skills
Proficiency in Excel and data diligence
Ability to meet deadlines are critical
Preferred experience with Fannie Mae C&D and eRents applications