KeyBank Senior Mortgage Banker - FHA in Chicago, Illinois
About the Job
The primary role of the Multifamily Mortgage Banker is to originate long-term, multifamily real estate loans on behalf of KeyBank’s investors, with a primary focus on FHA originations, and a secondary focus on originations through Fannie Mae, Freddie Mac, CMBS and life companies.
Multifamily Mortgage Bankers are responsible for client coverage relative to specific KeyBank offices and clients as well as specific geographic territories with regard to correspondents and brokers. The FHA Multifamily Mortgage Banker interacts with Relationship Managers (RM’s) within Key’s franchise to bring the full range of Key’s multifamily real estate loan products to Key’s clients. To a lesser degree, the Mortgage Banker responds to correspondent and mortgage bankers’ inquiries to provide the same multifamily loan products to the general market beyond KeyBank’s existing clients.
Essential Job Functions
Partner with RMs to strengthen existing banking relationships and develop new accounts with owners of multifamily real estate that need the debt products available through Key’s permanent lending platform.
Actively participate in the creation and management of client-prospect relationships including exit strategies and client interaction.
Actively co-manage the existing portfolio of maturing loans and position Key to provide the permanent financing.
Actively mine our servicing portfolios (Fannie Mae, Freddie Mac, FHA and CMBS) in an effort to provide refinancing alternatives with our existing customers.
Ensure that our clients and prospects understand all of KBREC’s multifamily product capabilities and then utilize these capabilities to meet our clients specific business needs.
Utilize a consultative sales process where multifamily financing solutions are tailored to the needs of the client.
Actively represent KeyBank in the marketplace including industry functions, trade groups and direct meetings with the brokerage community, with a specific focus on FHA.
Actively participate in helping KeyBank meet the goals of both its on-balance sheet and off-balance sheet efforts.
Interact with KeyBank’s investor clients in a clear, constructive and professional manner that protects and deepens the relationship between KeyBank and the investor.
For all multifamily CRE loan opportunities:
Obtain required preliminary underwriting information
Review preliminary loan information and complete initial loan sizing including indicative pricing and terms
Collaborate with multifamily program management relative to the structure, terms and pricing of each proposed transaction prior to submission to investors
Answer investor inquiries as requested. Consolidate bids and recommend appropriate financing alternatives to the client
Draft and issue the term sheet and/or Loan Application for the proposed execution
Negotiate the terms of the final Loan Application
Assist Processing, Underwriting and Closing personnel as needed to ensure a smooth execution, issuance of a Loan Commitment and the ultimate closing of the transaction.
Act as the Client’s central point of contact with respect to all multifamily permanent loan issues.
Shepherd loans through the process starting with quoting and ending with closing.
Create relationships that allow us to deliver KeyBank’s multifamily products to the marketplace outside of our existing network of clients and prospects.
Strive to create long term relationships with each borrower as opposed to creating a purely transactional relationship
Provide frequent, timely and accurate market feedback to regional and senior management in the multifamily division.
Take the initiative to stay current with multifamily real estate markets, industry trends and changing financial products and use this knowledge to counsel Key’s borrowers, Key’s investors and Key’s management.
Business Related Degree; advanced degree preferred
Minimum five years of experience in the multifamily real estate permanent lending, mortgage banking or mortgage brokerage industries with a proven track record of loan production
Strong working knowledge and experience with FHA.
Ability to work well in a team-oriented environment and to collaborate with numerous constituents
Strong sales, marketing and negotiating skills with specific experience with loan products listed above
Technical proficiency in excel and word processing software
Strong financial analysis skills; Ability to review and evaluate borrower and project based financial statements including detailed real estate portfolio analysis
Strong written and verbal communication skills
Ability to manage and prioritize multiple tasks in a timely manner
Cleveland-based KeyCorp is one of the nation's largest bank-based financial services companies, with assets of approximately $92.9 billion. Key companies provide investment management, retail and commercial banking, consumer finance, and investment banking products and services to individuals and companies throughout the United States and, for certain businesses, internationally. The company's businesses deliver their products and services through branches and offices; a network of 1,335 ATMs; telephone banking centers; and a website, Key.com®, that provides account access and financial products 24 hours a day.
ABOUT THE BUSINESS:
Key Corporate Bank is a full-service corporate and investment bank serving the needs of mid- to large- sized businesses and focusing principally on middle market clients in six industry sectors: consumer, energy, healthcare, industrial, public sector, and real estate.
FLSA STATUS: Exempt
KeyCorp is an Equal Opportunity and Affirmative Action Employer committed to engaging a diverse workforce and sustaining an inclusive culture. All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, disability, or veteran status.