The primary objective of this 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.
Manager Justification Letter
Daniel Simunac, Managing Director & Principal Officer, Raymond James
- Brianne Barry, Associate, Real Estate Corporate Banking, RBC Capital Markets
- Adam Budd, Vice President, Debt Practice, JLL Capital Markets
- Ben Ciallella, Managing Director, Credit Capital Markets, National Bank Financial
- Beth Earon, Associate, Real Estate Practice, Blakes LLP
- Sarah Esler, Portfolio Manager, Mortgage Investments, AIMCo
- Elsa Hannaford, Manager, Real Estate Corporate Banking, CIBC
- Mike Frigo, Senior Vice President, Real Estate Finance, Wells Fargo Canada
- Daniel Kofman, Partner, Real Estate Practice, Blakes LLP
- David MacKinnon, Vice President, Real Estate & Corporate Banking, Raymond James Bank
- Geoff McTait, Executive Director, Timbercreek Financial
- Sam Petras, Manager, Real Estate Corporate Banking, CIBC
- Jason Viaene, Director, Real Estate Corporate Banking, RBC Capital Markets
Register by Friday, July 5, 2019 for Early Bird Pricing ($100 Savings!)
REALPAC Member Company*: $1495.00 Non-Member Company: $1995.00
*To determine if your company is a REALPAC Member, click here.
DATE & TIME
Wednesday, November 13 - Thursday, November 14, 2019
9AM - 5PM
FOOD & BEVERAGE
Continental breakfast will be available at registration. The course includes a group lunch and refreshments will be offered during morning and afternoon breaks.
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.
REALPAC ACCESSIBILITY FOR PERSONS WITH DISABILITIES CUSTOMER SERVICE POLICY
In fulfilling our mission, REALPAC is committed to providing its goods and services in a way that respects the dignity and independence of people with disabilities. We are also committed to giving people with disabilities the same opportunity to access our goods and services and allowing them to benefit from the same services, in the same place and in a similar way as other customers. If you require alternative means of communication (e.g., TTY, relay services, etc.), require assistive devices, or will be accompanied by a service animal and/or support person(s), please let us know. To view the REALPAC Accessibility for Persons with Disabilities Customer Service Policy, please click here.
CONSENT TO USE OF PHOTOGRAPHIC IMAGES
Registration and attendance at, or participation in, REALPAC professional development, events, meetings and other activities constitutes an agreement by the registrant for REALPAC to use and distribute (both now and in the future) the registrant or attendee's image or voice in photographs, videotapes, electronic reproductions, and audiotapes of such events and activities.