Berkadia- Analyst, SBL Loans.

Berkadia is hiring analysts for their small loan team in 5 cities. Any insights on this role? Seems like a general analyst position that works with production & underwriting? Or is this is largely an underwriting role? I am an associate with 2 years experience in cmbs and balance sheet lending, have a MSRE and I am paid 110K base (45% bonus last year). I get the feeling that this position will only get paid 60-70K base as its mainly for recent college graduates?, does anyone here think I will be able to get atleast a 110K base here?

The Opportunity

The Real Estate Analyst, GSE Small Loans will work with credit and production to manage the origination and underwriting process for Fannie Mae & Freddie Mac Small Loans ($750k - $7.5MM in select markets).

Responsibilities

Provide initial review of deal opportunities and recommend best course of action and product execution Work closely with agency contacts to obtain the necessary waivers and approvals (if necessary) Analyze and review borrower credit information and structure, third party reports, property financial and physical information to determine deal viability Perform site inspection due diligence to evaluate market competitiveness of the proposed collateral and to determine economic feasibility of the projected income stream Prepare underwriting narratives and independent cash flow value estimates Present recommendations to the appropriate approval committee, including all key documentation (term sheets, applications, commitments, credit memos, etc.) Manage and train a dedicated team of analysts Communicate consistently with Berkadia’s Mortgage Banking production network and manage borrower clients through the approval and closing process Manage the closing process and deliver the necessary documents and loan information to Berkadia’s servicing team and agencies Educate Berkadia’s Mortgage Banking production network on agency requirements and available loan products for small loans Work collaboratively with the Mortgage Banking production network to market the various loan products to their borrower clients Conduct and participate in customer meetings and conference calls

What someone will need to be successful in this role

Proficient in financial analysis and risk mitigation Advanced experience in Microsoft Office including Outlook, Word, PowerPoint, and Excel Strong organizational skills and ability to multitask in a fast-paced environment with competing priorities Outstanding attention to detail Strong communication skills and ability to manage expectations of both internal and external customers Willingness to work in a dynamic environment and adapt to continually evolving technology

Employee Benefits

18 PTO days + 2 floating holidays & 10 paid holidays per year Generous tuition reimbursement towards a Masters or Bachelors degree 401K match up to 6% 12 weeks of 100% paid paternity/maternity leave Mentorship with industry professionals

17 Comments
 

I saw this too. Seems like it's your standard Small Balance Agency Loan job, and what I mean by that is that you could find the same posting and duties for other agency lenders like Walker Dunlop, Hunt, CBRE, JLL, etc.

I have worked with Berkadia's analysts on standard commercial and mezz deals and they are all very sharp and so are the brokers. Maybe you could transition groups after a while or something. I actually like Berkadia as a firm too so the opportunity could be worth it if you don't mind doing agency underwriting. I'm not a fan of the agency products but it is decent work if you have nothing else. Can't comment on pay, but I doubt it will match what you're making now.

Edit: I think the position is fairly junior and your current role is a step up if you're at a bank. Really think if you want to go for it

 

Thank you, I got the feeling that it was a fairly junior position as well. I want to stay in lending in either production (ideally) or underwriting and I am interested in the GSE space. The pay is a big reason why this role would be a non starter. I am in a tough spot, I am not a mid level professional but also not an entry level analyst. So, for the right opportunity I am willing to take a paycut to like atleast 90-100K base but anything less than that is not worth it as I am happy at my current role, I want to switch markets but its not something that I want to do if there is a huge paycut.

 

I work as a standard production analyst for a mortgage banking team at Berkadia. Base will likely be in the $65k-$75k range, but I unfortunately do not know how that side of the house is bonus-ed out EOY. Speaking for myself, I cleared around $110k all-in last year as a first year analyst.

Not that this makes a world of a difference, but I do want to say that I genuinely enjoy working for the company. Upper management is pretty straightforward and transparent, and I have yet to meet anyone inside the mortgage banking side of the organization that I dislike. There will likely also be a decent opportunity for growth on the SBL side as well since we only got our license within the last year.

Let me know if you have any questions.

 
Most Helpful

I worked at a Berkadia competitor that was a leader in the SBL space. I’m pretty sure they lose money on SBL loans initially and then make up for it by collecting servicing fees. Basically they manage a shit ton of SBL loans so with scale it’s profitable.

Also keep in mind SBL is 7 mil or lower. Not gonna do a any institutional deals at that level.

All of this is a long winded way of saying, yeah 110k base is likely not going to happen and even if it did, it sounds like you’re already working at a place that gives better institutional RE experience. Agency is a unique product separate from CMBS, so even though CMBS is highly relevant, there will be a learning curve to the agency products.

Wait for an opening on one of the regular agency teams, I see them all the time

 

I recently chatted with a HUD/FHA producer for a real estate analyst role at berkadia. Would base for this role typically be between 65-75k as well? You said you cleared about 110k so is that including a hefty bonus or commission splits?

I wasn’t aware they may offer a base close to 75k so I stated I would need about 65k base to pay over and they said they would be able to make a competitive offer which makes me feel stupid now :/

 

Analyst 2 in RE - Comm

I work as a standard production analyst for a mortgage banking team at Berkadia. Base will likely be in the $65k-$75k range, but I unfortunately do not know how that side of the house is bonus-ed out EOY. Speaking for myself, I cleared around $110k all-in last year as a first year analyst. Not that this makes a world of a difference, but I do want to say that I genuinely enjoy working for the company. Upper management is pretty straightforward and transparent, and I have yet to meet anyone inside the mortgage banking side of the organization that I dislike. There will likely also be a decent opportunity for growth on the SBL side as well since we only got our license within the last year. Let me know if you have any questions.

@Analyst 2 in RE: is the extra money you made between your base ($65-75) and your total salary ($110) considered the part of the commission from your team that you took home as their analyst? If so, what percent of the total origination team’s commission did you take for yourself (example: 5%)?

 

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