I'm curious about hearing from those of you who are in the debt origination world, specifically working with larger institutional type deals where your loans are $40M+ (think Pru, Allianz, AIG, New York Life, MetLife) .
I recently moved from a more credit UW role where I completed the UW and presentation after a deal had a signed term sheet and helping them close. Now i'm more focused helping originate new deals on the debt side. I would appreciate any guidance on any of the following:
- What is your typical process in terms of getting package and thinking through the deal/if you want to spend time on it?
- How many deals are you often sifting through at a time/how do you get through it all?* Where do you focus your analysis efforts?
- How much time do you spend on the UW?
- When/how do you feel comfortable soft quoting a deal?
- How did you develop in the origination world (helpful advice you've received, words of wisdom)
- What is the approval process for your deals?
Hey hard assets, I swear if I had a silver banana for every lonely thread I posted too I'd be richer than @compbanker ...
Hope that helps.
Bump - any thoughts guys
The Duke of Wall Street Anonymous Monkey pudding Full Stack
This is a fantastic write up, thank you. Of those deals you are getting inbound, are they mostly from mortgage brokers? Or direct outreach from sponsors/banks/lifeco?
how do you only spend 10-30 minutes on your initial screen? how do you know/justify if their underwriting assumptions or values make sense? do you just take a set haircut on every deal?
i'd also be curious to understand if these are all core/stabilized deals, or bridge deals.
how many deals do you close a year, too?
I'm not on the origination side, so unfortunately no the best person to help with these answers.
With that said, I do have two (2) deals I'm looking for permanent financing on! If you or Full Stack are interested to review.
Sure, as long as it's not Office!
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