QA Analyst – Multi-Unit Residential Lending

Haventree Bank; Toronto; On-site; CAD 80,000 - 110,000; Part time

Job summary

Haventree Bank is seeking a Quality Control Analyst for its Multi-Unit Residential Lending department in Toronto. This crucial role involves ensuring compliance and accuracy in lending processes. The successful candidate will possess a strong background in mortgage lending, particularly in multi-unit environments, and will contribute to risk identification and mitigation efforts.

Qualifications

• 10 years of experience in mortgage lending focused on multi-unit residential lending.
• In-depth knowledge of CMHC MLI program for multi-unit underwriting required.
• Strong understanding of credit underwriting principles and regulatory compliance.

Responsibilities

• Conduct reviews of loan files, ensuring accuracy and compliance.
• Identify and assess potential credit risks related to underwriting practices.
• Monitor quality control data to pinpoint areas for improvement.

Skills

Analytical skills

Problem solving

Attention to detail

Communication

Education

Bachelor's degree in Finance

Certifications in mortgage lending

Tools

Automated quality control systems

Loan origination systems (LOS)

Job description

Quality Control Analyst – Multi-Unit Residential Lending

Join to apply for the Quality Control Analyst – Multi-Unit Residential Lending role at Haventree Bank

Quality Control Analyst – Multi-Unit Residential Lending

Join to apply for the Quality Control Analyst – Multi-Unit Residential Lending role at Haventree Bank

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Haventree Bank is a private Canadian Schedule 1 bank specializing in alternative mortgage programs and insured GIC deposits. We help hardworking Canadians from coast-to-coast achieve homeownership by offering flexible mortgage solutions. Our insured GIC deposits offer competitive rates and are available through a variety of wealth management platforms.

About Haventree Bank

Headquartered in Toronto, Ontario, Haventree Bank (Haventree) is a mission driven alternative mortgage lender. The name Haventree is representative of the bank’s mission to help its customers find a place of refuge and to lay down new roots for the future. Haventree exists to be a catalyst of financial security and upward mobility for Canadians who are underserved by the traditional financial system.

Position Summary:

Reporting to the VP, Mortgage Lending, the Quality Assurance Analyst plays a crucial role in ensuring the accuracy, completeness, and compliance of multi-unit residential lending files. This position requires a strong understanding of credit multi-unit residential underwriting guidelines, regulatory requirements, and best practices to identify and mitigate potential risks.

Major Duties & Responsibilities:

File Reviews:

• Conduct thorough reviews of loan files within the timelines/requirements specified by HTB’s insured multi-family mortgage origination partners.
• Verify the accuracy and completeness of loan documentation.
• Review and confirm the accuracy, completeness, and status of the insured mortgage’s Certificate of Insurance (COI) issued by CMHC.
• Confirm that quarterly aggregation of mortgages from origination partners meets the specifications of the applicable Master Trust and Servicing Agreement (MTSA), most specifically satisfying CMHC’s Affordability-Linked Pools (ALP) requirements
• Assess compliance with underwriting policies, regulatory requirements and required guidelines.
• Identify and document any deficiencies or discrepancies within loan files

Risk Identification & Mitigation:

• Identify and assess potential credit risks associated with inadequate underwriting practices.
• Escalate identified issues to appropriate parties.
• Contribute to the development and implementation of mitigation strategies to address identified risks

Quality Control:

• Assess mortgages on a recurring basis against individual and aggregate specifications in the Bank’s RMUP (i.e., min. and max. individual loan sizes, provincial concentration limits, etc.)
• Monitor and analyze quality control data to identify trends and areas for improvement.
• Prepare reports summarizing quality control findings and identifying areas of concern.

Training & Support:

• Assist in the development and maintenance of internal QA manuals and procedures.

Qualifications & Experience:

Degrees, Diplomas & Certifications:

• Bachelor’s degree in Finance, Real Estate, Business, or a related field.
• Certifications in mortgage lending or risk management

Years and Range of Experience Required to Perform the Job:

• 10 years of experience in mortgage lending, with a focus on multi-unit residential lending.
• Experience with automated quality control systems.
• In depth knowledge of CMHC MLI program for multi-unit underwriting is required
• Strong understanding of credit underwriting principles, loan documentation requirements, and regulatory compliance.
• Excellent analytical and problem-solving skills with strong attention to detail.
• Strong written and verbal communication and interpersonal skills.
• Ability to work independently and as part of a team.
• Experience with loan origination systems (LOS) a plus.
• Familiarity with how the CMHC securitization programs work (NHA MBS and Canada Mortgage Bond) is an asset.

While we thank everyone for their interest in Haventree Bank, please note that only candidates selected for an interview will be contacted. Haventree Bank is committed to providing accommodation when needed. If you require an accommodation, we will work with you to meet your needs.

• As a job candidate, our recruitment process includes collecting personal information. Please click the link here to review our Privacy Policy. Privacy Statement | Haventree Bank
• Stay in touch with us, if this position is not the right one for you – please click on this link for other roles at Careers | Haventree Bank or follow us on LinkedIn at www.linkedin.com/company/haventree-bank/
• Haventree Bank embraces equal opportunity, diversity, and inclusion. Please let us know if you require any accommodations during the recruitment and selection process by contacting [e-mail]

Seniority level

• Seniority level

  Associate

Employment type

• Employment type

  Part-time

Job function

• Job function

  Information Technology

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