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Berkadia Lending Experience Map - Deal Manager (1) Soft Quote (2) Hard…
Berkadia Lending Experience Map - Deal Manager
1) Soft Quote
2) Hard Quote Begins
3) Analysis
T-12
Trends
Concessions / Compromises
Budget & sizing
Exit metrics
Debt yield
Doing
Understanding & analyzing
Determining important aspects
Adjusting model to Fannie Specs
4) Fannie Upload / Hand off
Upload template
Accept / reject model
Review
Review proposed deal
24 hour turn around
Call advisor (Luke) if there are problems / issues
Deal structure
Borrower issues
Credit score - 680+
Net worth (100% loan value)
Loan history
OFAC
Doing
Waiting for issues to review
Conferring with Fannie if there are any issues
Conferring with borrower if there are any issues
Thinking
Did I check everything?
If the deal comes back adjusted, how do I keep the borrower interested?
Feeling
High strung
Anxious
5) Hard Quote End
Fannie confirms deal structure
Update model
Loan commitee review
Change and tweak details of the loan
Based on intuition and gut feeling
Usually based on other things besides property financials
Borrower history
Location
Risk compared to our portfolio
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
1 more item...
Update OmniView
Commited status
Doing
Reviewing deal
1 more item...
Thinking
Was this deal structured properly?
Is the deal fair?
How do I manage risk?
Feeling
Curious
8) 3rd party engagement
Request quotes
1 more item...
Determine NCF (net cash flow)
3 more items...
Determine legal risk
3 more items...
9) GPO
8 more items...
Doing
Prepping UW Kickoff
Thinking
The deal is no longer mine to finish
Feeling
Relief
Send app to MB
Receive signed app
Doing
Reviewing final Fannie deal
Presenting to loan comittee
Confirming final deal with MB
Thinking
What, if any adjustments will be made?
Feeling
Concern if there are changes to the deal
Relief if deal is acceptable
Thinking
What are the important aspects of the Property?
Is the model formatted right?
Feeling
If the deal is iffy, overwhelmed
If the deal is straightforward, confident
Broker Requests hard Quote from DM
Narrative
Photos
App Quotes Selected
Doing
Thinking
Feeling
Conventional - E-mail, Phone, Operating Statement, Budget, Rent Roll
Berkadia Lending
Doing
Analyzing data in excel
Surrounding Real Estate,
Property Type
Renter Base
Market, Sub Market
Financials
Thinking
Where does this deal fit?
What does this deal look like?
Feeling
Focused
Driven