Commercial Mortgage Origination Officer

Job Description

COMPANY

With over 100 years in business, New York Life Real Estate Investors is the real estate debt and equity investment arm of NYL Investors LLC, which is a wholly-owned subsidiary of New York Life Insurance Company (“New York Life”). NYL Investors currently has nearly $250 billion in assets under management of which NYL Real Estate Investors currently has over $50 billion of real estate assets under management.

New York Life Real Estate Investors is a leading capital provider in the real estate industry and is recognized as a top-tier commercial mortgage lender staffed by a team of highly-experienced real estate professionals. The primary focus of the Real Estate Debt Team is the origination and management of commercial real estate related debt products, including mortgage loans (fixed and floating rate) and structured debt investments (including construction and bridge loans), which are typically secured by office, industrial, retail and multi-family properties.

The Western Regional Office is responsible for commercial mortgage origination and portfolio management efforts for the Western U.S. Major markets include: Southern California, Northern California, the Pacific Northwest, Arizona, Nevada and Utah, among others. Over the past 5 years, the Western Regional Office has originated more than $5.5 billion of fixed and floating rate mortgages on a variety of properties, working with top tier owners, developers, investment advisors, mortgage brokers, and pension funds. The Western Region’s current annual production target is $1.5 billion.

New York Life is one of the largest mutual life insurance company in the United States.  Founded in 1845, New York Life is headquartered in New York City, and is one of the most financially strong and highly capitalized insurers in the business. New York Life has over $500 billion in assets under management and holds the highest possible financial strength ratings currently awarded to any life insurer from all four of the major ratings agencies.

Financial strength, integrity and humanity -- the values upon which New York Life was founded -- have guided the company’s decisions and actions for 170 years.

POSITION

Commercial Mortgage Origination Officer responsibilities include proactive solicitation of commercial mortgage loan opportunities through developers, mortgage brokers and institutional owners/investors. The originator will be involved in all aspects of the mortgage origination, business development, underwriting, due diligence and loan closing processes. The originator will also be actively involved with the analysis, monitoring and management of the existing regional mortgage portfolio. Travel is required.

REQUIRED SKILLS

• A strong knowledge of Western U.S. real estate markets and commercial properties including office buildings, shopping centers, apartments and industrial warehouse buildings.
• Excellent analytical, quantitative and technical skills, including the ability to analyze, underwrite and forecast property cash flows and valuations using Argus and Excel software.
• The ability to size and price loans with proper structural features and negotiate term sheets and loan commitments.
• Successful track record and experience in the commercial mortgage loan origination, due diligence, and loan closing/negotiation processes.
• Team player who is organized, efficient, proactive, conscientious and assumes accountability and responsibility for specific performance and work product.
• Strong interpersonal and relationship-building skills.
• Excellent written and verbal communication and presentation skills.
• Creative problem-solver with strong research skills.
• The ability to gather, analyze, and interpret real estate market data/trends and financial information.
• The ability to independently and pro-actively interact with, and gather data from borrowers, brokers, property managers, appraisers, attorneys, and other real estate professionals.
• The ability to multi-task and effectively respond to changes in work flow, priorities and work load in a team environment.

QUALIFICATIONS

To qualify for this position, you must have a BA or MBA degree in Finance, Real Estate, Accounting or related disciplines with 4+ years of experience as a commercial mortgage underwriter/originator preferably with a major financial institution or mortgage brokerage company.  A qualified candidate will have a proven track record in commercial mortgage loan originations, a strong work ethic and the ability to work well in a team setting.  An industry-recognized designation such as CCIM or CFA, or course work toward either of these designations is a plus.

We offer a competitive compensation package (commensurate with experience), a flexible benefits program, 401 (k) with company match, a tuition assistance program and many other attractive benefits.