Underwriter – FILLED

Job Title: Underwriter

Business Unit: Mortgage Origination/Mortgage Servicing & Administration

Title of Direct Manager: Manager, Underwriting/Director, Origination Operations

Role Reporting to This Position: N/A

Salary Range:  $60,000 – $70,000 annually plus excellent benefit package

 

 

JOB SUMMARY

Our client, in the mortgage industry, is currently searching for an Underwriter.  This position can be located in any of their Western offices – Vancouver, Edmonton or Calgary.

Reporting to the Manager, Underwriting (Mortgage Origination) or the Director, Origination Operations (Mortgage Servicing & Administration), the Underwriter will be responsible for underwriting, processing and approving mortgage applications, and to contribute to the development and maintenance of accounts. The key focus of this role is to establish strong relationships with key brokers.

  

KEY RESPONSIBILITIES(describe responsibilities required to achieve desired outcome)

 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/insurer (CMHC &Genworth)
  • 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 to support recommendation for approval
  • Condition the deal in accordance with the recommendation for approval

 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 4-hour turnaround time on applications
  • Respond to questions and concerns received from clients via email, fax or portal discussion within 2 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 by MFS

Mentor Staff 

  • Review and educate Mortgage Fulfillment Specialist’s (MFS) 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

  • Complete any required Checks for Understanding with a passing grade
  • Failure to successfully achieve the required passing grade after 2 attempts will result in immediate probation and failure to pass a third test 30 days from the second test will result in Employment at risk.

  

DECISIONS MADE OR PROBLEMS SOLVED ON OWN

Approval Levels:

  1. Junior Underwriter – deals up to $255,000
  2. Intermediate Underwriter – deals up to $400,000
  3. Senior Underwriter – deals up to $637,500

 

 

 

 

DECISIONS REFERRED OR PROBLEMS ESCALATED 

Referred(describe decision or recommendation referred) To Whom(provide title) For what purpose?(consideration, review, approval)
Deals over $350K Manager/Director Review & Approval
Borderline Deals Manager/Director Consideration, Review

 

 

INTERPERSONAL RELATIONSHIPS

 

Contact(e.g., brokers, the Board, investors, co-workers, etc.) Purpose of Contact(e.g., solicit information, train, influence a decision, advise, persuade, sell, negotiate, etc.)
Brokers Oral
Co-workers Face-to-face

 

 

SPECIFICATIONS REQUIRED FOR THE ROLE

 

Education

  • University Degree/College Diploma Certifications/Designations Required
  • Accredited Mortgage Professional (AMP)
  • Completion of Mortgage Agent course to satisfy provincial regulatory requirements
  • Completion of internal audit’s credit adjudication process Experience
  • Minimum of one year underwriting experience is a must

 

Languages Used in the Role

  • EnglishSkills/Knowledge
  • 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.

 

If you meet the qualifications and education required for this position, please submit your resume, with cover letter, to the attention of Analyn Brownlee. at Edmonton@taylorbrownlee.com.  Only qualified candidates will be contacted.  Thank you in advance for your interest.