Mortgage Underwriter

CG Consulting Group; Toronto; Hybrid; CAD 70,000 - 90,000; Full time

Job summary

A financial consulting firm in Toronto is seeking an Intermediate Mortgage Underwriter to support the review and approval of residential mortgage applications. Candidates should have 3-4 years of experience in retail mortgage underwriting and a strong understanding of risk mitigation. This position offers a hybrid work model with extensive training and opportunities for growth within a large financial institution.

Benefits

Opportunities to grow within the company

Extensive onboarding training

Qualifications

• 3-4 years retail mortgage underwriting experience.
• Experience with residential mortgages.
• Experience in reviewing and evaluating documents.

Responsibilities

• Support the review and approval of residential mortgage applications.
• Negotiate, approve, decline applications within established guidelines.
• Gather and critically assess property-specific third-party reports.

Skills

Retail mortgage underwriting experience

Good understanding of risk mitigation

Excellent communication

Strong negotiation skills

Technologically savvy

Education

University degree

Tools

Outlook

Excel

Job description

Overview

Mortgage Underwriter. Request ID: 95679-1. Start/End Dates: ASAP, 6 months to start. Work Location: downtown Toronto near TTC and GO. Job Title: Professional - Underwriter - Intermediate. Position Title: Mortgage Underwriters. Line of Business: CREDIT ADJUDICATION. Target Start Date: ASAP. Duration: 6 Months. Potential for extension or conversion to Full Time: Ideally looking to convert to Full Time, however could be extended based on volume. Hybrid Work: Onsite 3/4 days per week during training; afterwards onsite during townhalls. Office Location: 81 Bay 28th Floor, downtown Toronto near TTC and GO. Work Schedule: 37.5 hours per week, 9–5 Monday to Friday with some flexibility around starting and ending. Reason the role is open: increase in volume. Bridging resources until permanent staff are hired. Project: supporting day to day operations (BAU). Team culture: the Credit Adjudication team makes credit decisions on applications submitted, assesses applications and reviews, and supports the servicing of applications until they are moved to the funding team; supporting specifically secured lending. Selling points: opportunities to grow within a large financial institution; onboarding training is extensive and sets individuals up for success.

Responsibilities

The Analyst, Underwriting is responsible for supporting the review and approval of residential mortgage and real estate applications in a timely and effective manner. The role follows detailed instructions and documented procedures to negotiate, approve, recommend, or decline residential secured and unsecured mortgages and real estate applications within established guidelines and authorized lending limits. The Analyst, Underwriting uses judgement regarding priorities and approaches to review credit information by gathering and critically assessing property-specific third party due diligence reports and negotiating terms for marginal applications. The role provides specialized advice and guidance on company policy, procedures, and security value estimates, resolving basic problems within the scope of their job.

How you\'ll succeed

• Decision-Maker: Negotiate, approve, decline and recommend applications within Bank processes, guidelines and authorized lending limit up to $1,500,000, including residential mortgage, real estate secured and unsecured applications.
• Analytical: Gather, review and assess information and documentation to support each credit application within Bank risk parameters and insurer guidelines, if applicable.
• Relationship building: Handle correspondence and telephone inquiries from internal business partners and external business partners such as insurers, appraisers and solicitors.
• Risk Assessment: Review, prepare and make considered recommendations to Manager or senior underwriter where residential mortgage application is above authority limit.
• Agile: Manage high work volumes to meet short timelines with a high level of quality and due diligence. You will also be expected to review a variety of lending products on a day to day basis.

Must Have

• 3-4 years retail mortgage underwriting experience. Mostly residential mortgages.
• RESL specific Underwriting (Real-estate Secured Lending).
• Decisioning experience with approval authority.
• Experience in reviewing and evaluating documents (income, down-payment, offers, etc.).
• Experience in exceptions rational (they will be making exceptions themselves).
• Good understanding of risk mitigation.

Nice to Have

• Any broker or underwriting course experience.
• Outlook and Excel skills.
• A university degree.
• Familiarity with Canadian rules and regulations.

Soft Skills

• Excellent communication – written and verbal.
• Attention to detail.
• Strong negotiation skills.
• Technologically savvy.

Notes

• Candidates need to understand different types of income.
• Training could take up to 2 months.

Close on Nov 10 at 1pm.