Mission Capital Advisors (“MCA”), a subsidiary of Marcus & Millichap Capital Corporation, is seeking a Director, Residential Whole Loan Trading, to support senior members of the team in their residential whole loan valuation and sales and trading business. The ideal candidate is a self-starter with strong analytical skills and intellectual curiosity. They will focus on data analysis, modeling/valuation and underwriting of residential loans, while also gaining excellent exposure to the performing/distressed loan trading market. Additionally, they will increase their network of debt capital markets participants/customers, including commercial and investment banks, specialty finance companies, and funds.
The anticipated salary range for candidates who will work in Manhattan, NY is $120,000 - $150,000/annual. The final salary offered to a successful candidate will be dependent on several factors that may include but are not limited to the type and length of experience within the industry, education, etc. Marcus & Millichap is a multi-state employer, and this salary range may not reflect positions that work in other states. This role is designated to be an exempt position.
What You'll Be Doing
- Financial modeling, mortgage pricing and cash flow projections in Excel
- Managing whole loan portfolio sale transactions from start to finish
- Loan portfolio data review, normalization, stratification and analysis in Excel
- Valuation of single-family homes (via Zillow and other online sources)
- Interacting with sellers, buyers, legal counsel, due diligence vendors and other stakeholders
- Transaction Management: Preparation / organization of due diligence materials, coordinate data transfer with servicers and third parties, transaction status reporting, transaction calendar management, review / summarize Loan Sale Agreements, Interim Servicing Agreements, Deal Stipulations, tie out funding schedule / loan population, schedule data for agreements, close loan portfolio sales
- Collecting and analysis of market data (including navigating Bloomberg), investor preferences, track whole loan transactions in marketplace
- Assist in responses to client RFPs
Skills & Qualifications
- 3 to 5 years of experience at a residential mortgage originator, residential loan aggregator/securitize, or in a structured products analyst program at an investment bank or real estate private equity firm (e.g. REIT, hedge fund)
- Prior career experience in residential real estate underwriting / investment analysis, lending, and/or in structured products
- Prior experience modeling & valuing residential whole loans is required
- Data cracking / stratification experience is preferred
- Experience using Bloomberg is preferred
- Strong MS Excel and modeling database skills are required
- Salesforce experience, visual basic and python scripting skills are a plus
- Strong business writing skills
- Ability to learn quickly, attention to detail, ability to work as part of a team, and desire to take on responsibility
- Likes and prioritizes work
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Mission Capital Advisors (MCA) is a leading national loan sale advisory, due diligence and capital markets firm providing an integrated platform of secondary market loan portfolio brokerage, valuation, transaction management and data/document curative services for the commercial and residential loan markets. Mission Capital Advisors was acquired in 2020 by Marcus & Millichap (NYSE:MMI), a commercial real estate and finance services firm with 2,000 investment sales and capital markets professionals located in more than 80 offices across the U.S. and Canada. With a market cap of nearly $1.8B and $40B to $50B of closed transactions annually, Marcus & Millichap adds deep capital markets expertise, investment sales, market intelligence, and extensive research to MCA’s resources.
Marcus & Millichap provides equal employment opportunities to all employees and applicants for employment without discrimination with regard to race, religious belief (including dress or grooming practices), color, sex, sex stereotype, pregnancy, childbirth or related medical conditions (including breast feeding), age, national origin, ancestry, sexual orientation, gender identification and expression, transgender status, physical or mental disability, medical condition, genetic characteristics, genetic information, family care, marital status, enrollment in any public assistance program, status as military, a veteran or qualified disabled veteran, status as an unpaid intern or volunteer, or any other classification protected by law. We also prohibit discrimination based on the perception that anyone has any of those characteristics, or is associated with a person who has or is perceived as having any of those characteristics. In addition to federal law requirements, Marcus & Millichap complies with applicable state and local laws governing nondiscrimination in employment in every location in which the company has facilities. This policy applies to all terms and conditions of employment, including recruiting, hiring, placement, promotion, termination, layoff, recall, transfer, leaves of absence, compensation and training.
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What We Do
Marcus & Millichap was founded in 1971 with the goal of being a new kind of company – one driven by long-term relationships and built on a culture of collaboration. We focus on bringing together specialized market knowledge, the industry's leading brokerage platform and exclusive access to inventory to achieve exceptional results for our clients, year after year.
Today, we are the industry’s largest firm specializing in real estate investment sales and financing, with over 80 offices and nearly 2,000 investment sales and financing professionals throughout the United States and Canada. In 2021, the firm closed 13,255 transactions with a sales volume of $84.4 billion.
