The primary objective of this virtual course is to identify and understand the goals and underwriting methods of real estate lending and explain the rationale behind why varying structures and approaches are used by different lenders. In addition, the curriculum will include a combination of theory and practice, providing real-world financing examples from within the Canadian marketplace as well as comparing it with other markets, together with utilizing a combination of lectures, interactive panel discussions and business cases to provide students with a fulsome and interactive learning experience.
|Eligible for Continuing Education Credits with BOMI.|
|Eligible for Continuing Education Credits with CAAMP.|
- The use of debt and financial leverage – identifying what is the right amount
- The Canadian commercial mortgage market: identifying players, market size and share by lender type
- How different lenders lend and why – funding sources, preferences and motivations
- How lenders employ financial leverage themselves – the economics behind financial institutions
- Identifying assets classes by relative volatility and financeability in Canada
- Investment real estate vs. business (operating) real estate – identifying underwriting differences
- The 8 C’s of mortgage loan underwriting
- Structuring commercial loans by type: construction, term and revolver
- Identifying underwriting metrics and assessing future refinance risks
- Floating vs. fixed – benefits and limitations of each
- Breakage costs: swaps, yield maintenance and defeasance
- Senior secured vs. senior unsecured – what’s the difference and who qualifies?
- Understanding the differences between A/B notes and 1st mortgage/2nd mortgage loan structures
- Loan syndication – where, how and why?
- Market downturns and mitigating risk – amendments, extensions and other loan modifications
- Loan defaults and foreclosure – understanding lenders’ options, rights and remedies
- Lessons learned from the past – both from locally and abroad
- Where are we now? Current and emerging market trends
KEY LEARNING OUTCOMES
- Clearer knowledge of the general goals of employing leverage
- Familiarity with the skills and experience required of being a lender
- Greater awareness of the rationale and benefits and limitations of different loan structures and features
- Ability to calculate key performance metrics used by lenders in underwriting a loan
- Better understanding of the Canadian lending landscape, who the major players are and how and why they lend
WHO SHOULD ATTEND This course will be relevant to the following lender types:
- Commercial and corporate banks
- Insurance companies
- Pension funds
- Trust companies
- Credit unions
- Private lenders and other non-bank financial institutions
- Mortgage investment corporations and mortgage REITs
- Foreign lenders
- CMBS and conduit lenders
In addition, the course will be of interest to the following real estate and lending industry participants: Property owners, investors and developers, mortgage and property brokers, mortgage and loan servicers, asset managers, appraisers, lawyers, accountants, financial regulators, among other types of stakeholders.
Daniel Simunac, Co-CEO, Stonebridge Financial.
- REALPAC Member Company*: $1,295.00
- Non-Member Company: $1,495.00
*To determine if your company is a REALPAC Member, click here.
REALPAC reserves the right to cancel course offerings based on low attendance numbers for 100% refund on registration fees only. Participant cancellations must be received in writing, at least five business days prior to the event for a 75% refund. Substitutions are permitted.
Offered in partnership with the Ted Rogers School of Management at Toronto Metropolitan University, the Real Property Investment Certificate encompasses all disciplines and offers a unique perspective into the different facets of the commercial real estate industry.