Berkadia Lending Experience Map - Deal Manager

1) Soft Quote

2) Hard Quote Begins

3) Analysis

Conventional - E-mail, Phone, Operating Statement, Budget, Rent Roll

Berkadia Lending

Doing

Analyzing data in excel

Broker Requests hard Quote from DM

Narrative

Photos

App Quotes Selected

T-12

Trends

Concessions / Compromises

Budget & sizing

Exit metrics

Debt yield

Doing

Understanding & analyzing

Surrounding Real Estate,

Determining important aspects

4) Fannie Upload / Hand off

Upload template

Accept / reject model

Review

Review proposed deal

Call advisor (Luke) if there are problems / issues

Doing

Thinking

Feeling

Deal structure

Borrower issues

Credit score - 680+

Net worth (100% loan value)

Loan history

OFAC

Doing

Thinking

Feeling

Waiting for issues to review

Did I check everything?

High strung

Thinking

Feeling

24 hour turn around

5) Hard Quote End

Fannie confirms deal structure

Loan commitee review

Change and tweak details of the loan

Based on intuition and gut feeling

Usually based on other things besides property financials

Final approval

Reach out to mortgage broker

6) Application

Create application

7) UW kickoff

Post app

Meeting w/ the closing team

Review

Determine vendors

Document repository created

Sharepoint

All documents involved in the deal

Update OmniView

Commited status

Doing

Reviewing final Fannie deal

Doing

Prepping UW Kickoff

Doing

Reviewing deal

Thinking

What, if any adjustments will be made?

Thinking

The deal is no longer mine to finish

Thinking

Was this deal structured properly?

Thinking

What are the important aspects of the Property?

Feeling

Feeling

Feeling

Feeling

Check w/ deal manager

Sometimes this is the same person (FMSL)

Curious

Is the deal fair?

How do I manage risk?

8) 3rd party engagement

Request quotes

24 hour turn around

Determine NCF (net cash flow)

Appraisal

Analyze all factors

PCA Analysis

Physical properties

Report replacement reserves

Sales comps

Rent comps

On-site

Determine legal risk

Seismic & Flood

OFAC

Insurance

ESA

Can hold up a deal

9) GPO

Data entry

Analyst check work

Doing

Thinking

Feeling

Frustrated

Corrections

Wishes this was easier

Problems

Analysis

Manual Input

Value

Cognitive load

Lost perspective on deal

Frantic

Data is missed / lost

Berkadia has .3% default

Great portfolio analysis

Review

UCF

Deal structure

3rd party

Borrower

REO

Exit strategy

10) Narrative

High leverage / Loan to total value

Analysis

inspection

3rd party

Personnel reports / management team

Leases

Lease audit

Move in date

Payments

Consessions

Renewals / rent increases

Tenants

Required process / regulation

property story

How risks are mitigated

Artifacts & tools

Word

Excel

Sharepoint

11) Loan Committee

Final review

Draft commitment

Require deposoit

RateLock

Where does this deal fit?

Property Type

Renter Base

Market, Sub Market

Financials

What does this deal look like?

Focused

Driven

click to edit

Adjusting model to Fannie Specs

Is the model formatted right?

If the deal is iffy, overwhelmed

If the deal is straightforward, confident

Conferring with Fannie if there are any issues

Conferring with borrower if there are any issues

If the deal comes back adjusted, how do I keep the borrower interested?

Anxious

Borrower history

Location

Risk compared to our portfolio

Concern if there are changes to the deal

Presenting to loan comittee

Confirming final deal with MB

Relief if deal is acceptable

Update model

Send app to MB

Receive signed app

Relief