Senior Associate, CPACE Credit and Transaction Management

Overview

ABOUT US:

Founded in 1993, Bayview Asset Management is an investment management firm focused on investments in mortgage and consumer credit, including whole loans, asset-backed securities, mortgage servicing rights, and other credit-related assets.

BUSINESS OVERVIEW:

Bayview Asset Management (“Bayview” or “Company”) is an investment management firm with ~$33.9 billion in AUM. Bayview’s investment strategy focuses on credit investments, including whole loans, asset-backed securities, mortgage servicing rights, and other mortgage and consumer-related assets. Among Bayview’s newest initiatives is the launch of a Commercial Property Assessed Capital Expenditures (“CPACE”) loan origination platform (“BPACE”). BPACE is on a mission to scale innovative, cost-effective financing solutions for commercial building owners’ energy efficiency and renewable energy goals. The BPACE team is comprised of collaborative, solutions-oriented industry leaders who are looking for a creative individual to help grow the division from end to end.

POSITION SUMMARY:

The CPACE Underwriter role will be highly dynamic. Primary responsibility will include screening, sizing, underwriting, and transaction managing CPACE financing requests, working in parallel with originators and other members of Bayview PACE’s (BPACE) underwriting team. The Senior Associate will also work cross-functionally with various teams, including but not limited to capital markets, portfolio management, and servicing, in managing work product needed by BPACE, which may include such things as financial modeling, asset management tasks, investor reporting tasks, and more.

DUTIES AND RESPONSIBILITIES:

• Lead transaction management and underwriting processes for projects under term sheet, working in conjunction with BPACE’s VP of Underwriting
• Support all needs of the senior CPACE team
• Guide analysts in the initial evaluation of lending opportunities with your assigned originator(s), conducting upfront underwriting and due diligence, and creating and presenting summary credit memoranda
• Review quote sheets, term sheets, and amortization models
• Gather due diligence from borrowers and other third-parties, necessary to close the financing
• Underwrite projects in accordance with BPACE’s underwriting guidelines; prepare investment committee memorandum and other deliverables in preparation for final investment committee approvals
• Work with Bayview’s capital markets & portfolio management teams on financial modeling exercises for CPACE assets across BPACE’s platform
• Work with Bayview’s servicing and asset management teams to onboard loans for asset management post-closing
• Assist with duties involving rating agencies, investors, or lenders, such as preparing data tapes, presentations, or financial models
• Go above and beyond to ensure a positive experience, creatively solve problems, and enthusiastically support BPACE’s efforts and initiatives
• Other duties as assigned
  
  

QUALIFICATIONS & SKILLS:

• Bachelor’s degree required
• 5 years of experience in commercial real estate, preferably CPACE
• High energy, drive, and strong work ethic
• Collaborative “can do” mindset
• Strong attention to detail, specifically in a CRE financing capacity
• Ability to self-manage & prioritize a significant volume of tasks, both small & large
• Demonstrated project management skills in team settings
• Proficiency in Excel, with ability to build from scratch property-level cashflow and other types of Excel models
• Ability to think strategically and creatively in a continuous learning environment
• Ability to engage positively with both internal and external stakeholders
• Excellent interpersonal skills
  
  

LOCATION & COMPENSATION:

• This is a hybrid role (Tuesday - Thursday) based in Bayview’s New York office.
• Base compensation is expected to be $120,000-$150,000 with the opportunity for bonus compensation.
  
  

EEOC

Bayview is an Equal Employment Opportunity employer. All aspects of consideration for employment and employment with the Company are governed on the basis of merit, competence and qualifications without regard to race, color, religion, sex, national origin, age, disability, veteran status, sexual orientation, or any other category protected by federal, state, or local law.