Sr. Full Case Underwriter - Alternative Lending

MCAP Group of Companies; Toronto; On-site; CAD 70,000 - 90,000; Full time

Job summary

A leading independent mortgage finance company in Toronto is seeking a Sr. Full Case Underwriter. The role involves underwriting mortgage applications, ensuring compliance with guidelines, and building strong relationships with brokers and clients. Candidates should have 3-5 years of underwriting experience and strong analytical and customer service skills. Competitive compensation and dynamic work environment offered.

Benefits

Competitive total rewards

Continuous learning and development opportunities

Qualifications

• 3-5 years underwriting and documentation experience.
• Knowledge of real estate and legislation preferred.
• Ability to understand financial statements.

Responsibilities

• Underwrite, process and approve mortgage applications.
• Build relationships with referral sources.
• Document the deal and write up rationale for approval.

Skills

Underwriting experience

Customer service skills

Analytical skills

Time-management skills

Communication skills

Negotiation skills

Problem solving skills

Education

University Degree/College Diploma

Accredited Mortgage Professional (AMP)

Tools

Outlook

Word

Excel

Job description

Sr. Full Case Underwriter - Alternative Lending

MCAP at a Glance

Joining MCAP means you will be a part of our diverse workforce of highly talented individuals who are recognized for their expertise and success! At MCAP, your professional expertise, commitment to teamwork and passion for service excellence are recognized and rewarded with competitive total rewards offering, a career with continuous learning and development (formal & informal training), and exciting opportunities in a dynamic, entrepreneurial environment.

The Role

This position is responsible for underwriting, processing and approving mortgage applications from a variety of sources including Broker, Direct and Third party from all MCAP brands. This role is accountable for full case management of a file and for building solid relationships with referral sources, to ensure volume, asset quality and profitability targets are met

Reviewing Applications

• Verify information on application and with the Credit Bureau to ensure accuracy.
• Verify information to make sure it meets company guidelines and external lender guidelines.
• Contact the broker/client for additional information or clarification in order to decision the deal effectively.

Credit Adjudication

• Adjudicate information presented and address any discrepancies or inconsistencies.
• Verify data viewed to ensure it meets company guidelines.
• Document the deal and write up rationale to support recommendation for approval.
• Condition the deal in accordance with the recommendation for approval.
• Delivers quick and creative mortgage solutions in order to structure files in order to meet company guidelines.

Service Clients

• Respond to questions or concerns from all clients with the intent to build/maintain relationships
• Provide all clients with mortgage options to assist in making an informed decision.
• Maintain a 8-hour turnaround time on applications
• Respond to questions and concerns received from clients via email, fax or portal discussion within 4 hours of receipt to ensure timely and accurate completion of each mortgage transaction.
• Maintain a 24-hour turnaround time for documentation review including the timely and accurate update of all systems

Communication with Brokers/Clients

• Negotiate applications or marginal deals
• Build the business with the broker/client in order to increase the portfolio and closing percentages

Documentation Verification

• Review all documentation pertaining to adjudication and approval of loan
• Mitigate potential risks identified on documentation
• Clear all conditions and associated system tasks.

Mentor Staff

• Review and educate Document Specialist on the different types fulfillment documentation
• Communicate to manager or corporate program any knowledge or suggestions to aid in the continuous improvement of the business

Check for Understanding

• Maintain acceptable audit results as established annually as part of the Objective setting.

What You Bring To The Team

• 3-5 years underwriting and documentation experience
• Knowledge of Real estate and covenant assessments, legislation and land title systems in all provinces preferred
• Knowledge of Legislation (e.g. Mortgage Act) regarding risk related mortgage law preferred
• Proficient in Outlook, Word, and Excel
• Ability to negotiate effectively with intermediaries
• Ability to understand financial statements and assess financial viability
• Exceptional oral and written communication skills
• Excellent organizational and time-management skills
• Ability to multi-task in a fast paced environment
• Strong analytical and problem solving skills
• Proven ability to foster relationships
• Strong customer service skills.
• Self-driven, motivated with the ability to work independently and in a team environment
• Carries out duties with integrity and takes responsibility for actions.
• University Degree/College Diploma, preferable
• Accredited Mortgage Professional (AMP)
• Completion of Mortgage Agent course to satisfy provincial regulatory requirements
• Completion of internal audit’s credit adjudication process

If this sounds like you and you are looking to be a part of one of Canada’s largest independent mortgage finance companies, then we want to hear from you!

Be A Part Of Something Great

MCAP is Canada’s largest independent Mortgage Finance company with over $150 billion in assets under management providing mortgage solutions for residential and commercial properties. For over 35 years, MCAP originates, trades, securitizes and services mortgages in offices across Canada. MCAP originates residential mortgages exclusively through the mortgage broker channel as we believe that a professional mortgage broker is a consumer's best option and MCAP actively promotes the services of mortgage brokers across the country. MCAP is also a leader in the Canadian residential construction lending market with over 25 years in the business. Our teams of dedicated professionals serve a variety of developer, construction and lender clients across Canada.

Position #: req2092

Employment Status: Permanent Full Time

Location:Toronto; Ontario

Number Of Openings:1

Department: Single Family Alternative Lending

Internal Job Title:Sr. Full Case Underwriter

The above information in this description has been designed to indicate the general nature and level of work performed by employees in the position. It is not designated to contain a comprehensive inventory of all duties, responsibilities, and qualifications required of employees assigned to this job.

MCAP provides equal opportunities for all applicants and is committed to fostering an inclusive, accessible environment, where all employees feel valued, respected and supported throughout the recruitment and employment process. If you require accommodation, we will work with you to meet your needs.