Bilingual (FR / EN) Loan Restructure Specialist

MCAP; Vancouver; On-site; CAD 60,000 - 80,000; Full time

Job summary

A leading company in the mortgage sector is seeking a professional to manage loan modifications and prevent foreclosure. This role involves direct interaction with homeowners and requires strong analytical and communication skills. The ideal candidate will have experience in mortgage default, collections, and a solid understanding of credit reports and real estate valuations.

Qualifications

• Experience in mortgage default and collections.
• Knowledge of lender and insurer policies and procedures.

Responsibilities

• Review loan details and assess restructuring options.
• Contact homeowners to gather information and negotiate solutions.
• Prepare analysis for managerial approval.

Skills

Communication

Organizational

Problem Solving

Relationship Building

Self-motivated

Education

Minimum 3 years in residential mortgage industry

Tools

MS Office

Job description

This position is responsible for making decisions by assessing and processing modifications to keep the loan performing, the homeowner in their home, and to prevent the costs and risks associated with foreclosure. This role impacts the ability to satisfy investor audits, ensure compliance with insurers, and meet regulatory requirements. It is critical to MCAP’s report card in the save category from the Mortgage Insurers. The position involves direct contact with homeowners, insurers, Realtors, property managers, and appraisers.

Key Responsibilities

1. Review the loan

• Handle files referred from Collections when special payment arrangements are insufficient to resolve arrears, review details and reasons for default.
• Review policies and procedures for the lender and mortgage insurer, if applicable.
• Assess the viability of loan restructuring or payment assistance.

Collect the data

• Contact homeowners to gather additional information.
• Perform sensitive probing and investigation to understand homeowners' needs while being empathetic.
• Obtain credit bureau reports, current market property valuations, and title searches.
• Prepare analysis worksheets to evaluate the data.

Review Data for Restructure Solutions

• Verify information accuracy against credit bureau and analysis worksheets.
• Ensure compliance with MCAP, lender, investor, and insurer guidelines.
• Address discrepancies and document findings accurately in the system.
• Evaluate potential solutions based on gathered information, thinking creatively when necessary.

Homeowner Contact

• Respond to questions and concerns via phone, email, or fax, building trust.
• Ensure solutions meet homeowner needs and present all options for informed decision-making.
• Negotiate in the best interest of MCAP, lenders, investors, insurers, and homeowners.

Recommend approval

• Prepare analysis and recommendations for managerial approval or decline if outside authority.
• Prepare analysis for mortgage insurer if beyond lender’s authority limit.
• Prepare analysis for lender if outside MCAP’s authority limit.

Process the Loan Restructure

• Post entries for interest capitalization, re-amortization, and recalculations accurately and promptly.
• Set up loan restructure fees for collection.
• Send out letters outlining changes and new amortization schedules.
• Document solutions in the Mortgage Servicing system.
• Track the effectiveness of restructures in preventing legal action and overall team performance.
• Assist and educate team members on restructuring options.
• Communicate insights and suggestions for business improvement.
• Update procedures to adapt to changing requirements.

Qualifications and Skills

• Experience in mortgage default and collections.
• Knowledge of MCAP, lender, and insurer policies and procedures.
• Understanding of credit reports and real estate valuations.
• Minimum 3 years in residential mortgage industry; underwriting experience is a plus.
• Excellent communication, organizational, and multitasking skills.
• Strong analytical, problem-solving, and relationship-building abilities.
• Self-motivated, responsible, flexible, and approachable.
• Sound decision-making and results-oriented mindset.
• Attention to detail with strategic big-picture thinking.
• Proficiency in MS Office; bilingual in French and English required.