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Job Details

Key Bank

Senior Mortgage Banker - Affordable

Banking, Mortgage, Investment

Mortgage Closer


Newport Beach, California, United States

Location: 660 Newport Center Drive - Newport Beach, California 92660 ABOUT THE BUSINESS: KeyBank Real Estate Capital, is one of the nation's leading providers of commercial and multifamily real estate finance. KeyBank focuses on building long-term relationships with new ideas and innovative thinking. Our broad financing options, integrated platform and deep industry experience give our clients what they need to meet their short- and long-term goals. ABOUT THE JOB: The primary role of the Senior Mortgage Banker is to originate long-term, multifamily real estate loans on behalf of KeyBank’s investors including Fannie Mae, Freddie Mac, FHA, Affordable Housing, CMBS Partners and Life Companies. Senior Mortgage Bankers are responsible for client coverage relative to specific KeyBank offices and clients as well as specific geographic territories regarding correspondents and brokers. In this role, the Senior Mortgage Banker interacts with Relationship Managers (RM’s) within Key’s franchise to bring the full range of Key’s real estate loan products to Key’s clients. To a lesser degree, the Senior Mortgage Banker responds to correspondent and mortgage bankers’ inquiries in the region to provide the same loan products to the general market beyond KeyBank’s existing clients. WHAT YOU’LL GET FROM THIS OPPORTUNITY: A competitive base salary + discretionary bonus Generous benefits – 401(k) matching (dollar-for-dollar up to 6%), PTO, fitness and tuition reimbursement and so much more. Paid on the job training and access to a library of on-demand professional development, training courses and formal enterprise mentoring program. Act as the Client’s central point of contact with respect to all permanent loan issues. Be part of a specialized teams that value our client relationships and focus on each borrower’s market segment, whether that means a deep understanding of the needs with a focus on the long-term, full solution. Collaborative environment with internal stakeholders in shepherding client throughout the loan process. KeyBank is a 2019 top five lender overall, and the 7th largest commercial real estate/multifamily mortgage originator. Access to Key’s leadership team in providing frequent, timely and accurate market feedback. 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 client’s 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. 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. REQUIRED QUALIFICATIONS: Business Related Degree, advanced degree preferred. Minimum five years of experience in affordable multifamily real estate permanent lending with a proven track record of loan production. Strong working knowledge and experience with all or nearly all of the following products: Fannie Mae DUS Multifamily Affordable Housing Freddie Mac Targeted Affordable Housing HUD Multifamily Finance Evidence of a minimum of $100 million of annual production from any of the loan products shown above at any time during the prior 5 year time period. Computer literate with proficiency in spreadsheet and word processing software. Demonstrated ability to collaborate with teammates. Strong sales and marketing skills with specific experience in negotiation of the loan products listed above. Strong financial analysis skills with the ability to review and evaluate borrower financial statements to include portfolio analysis and projections based upon borrower financial strength and both current as well as projected market conditions. Well versed in, demonstrated understanding of and expertise with federal and local affordable housing programs including IRS Section 42 4% and 9% LIHTC programs, real estate tax abatements, TIF financings, CDBG loans, HOME Loans, Section 8 programs, and other local affordable housing programs. The Affordable Mortgage Banker must fully understand the programs and also understand how to structure permanent loans in a manner that adequately accommodates any risks presented by the applicable program(s). Strong written and verbal communication skills. Strong negotiation skills. Ability to manage and prioritize multiple tasks in a timely manner. Note, This position is West Coast based. We are seeking either CA or CO, but open to other Key in footprint locations based on candidate experience. COMPENSATION AND BENEFITS This position is eligible to earn a base salary in the range of $175,000 to $215,000 annually depending on job-related factors such as level of experience. Compensation for this role also includes eligibility for short-term incentive compensation and deferred incentive compensation subject to individual and company performance. Please click here for a list of benefits for which this position is eligible. Please click here for a list of benefits for which this position is eligible. Job Posting Expiration Date: 03/27/2024 KeyCorp is an Equal Opportunity and Affirmative Action Employer committed to building a diverse, equitable and inclusive culture. All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, disability, veteran status or other protected category. Qualified individuals with disabilities or disabled veterans who are unable or limited in their ability to apply on this site may request reasonable accommodations by emailing