Mortgage Default Specialist

Mortgage Default Specialist

2350 Matheson Blvd E, Mississauga, ON L4W 5G9, Canada Req #2603 Tuesday, April 16, 2024 Questrade Financial Group (QFG) of Companies is committed to helping our customers become much more financially successful and secure.

We are everything a traditional financial institution is not. At QFG, you will be constantly moving forward, bringing the future of fintech into existence.

You will be a part of a collaborative team that cares deeply about our mission and each other. Your team members will help you conquer challenges, push boundaries and discover what you are truly capable of.

This is a place where you can explore, discover and learn with continuous growth. As a diverse and inclusive place to work, there are flexible working arrangements so you can unleash your creativity and curiosity with no limits.

If you share the same sense of infinite possibility, come shape your future at Questrade.

We’re looking for our next Mortgage Default Specialist. Could it be you?

Community Trust Company (CTC) is a member of the Questrade Group of Companies (QFG), which currently includes Questrade Inc.

QuestEnterprise, Questrade Wealth Management Inc., CTC, Think!nsure Ltd., and Zolo Ventures Ltd.

What’s in it for you as an employee of QFG?

• Health & wellbeing resources and programs
• Paid vacation, personal, and sick days for work-life balance
• Competitive compensation and benefits packages
• Hybrid and flexible work arrangements
• Career growth and development opportunities
• Opportunities to contribute to community causes
• Work with diverse team members in an inclusive and collaborative environment

What’s it like working as a Mortgage Default Specialist?

Reporting to the Senior Manager, Mortgage Servicing, the Mortgage Default Specialist is responsible for initiating Community Trust Company’s ( CTC ) default process for residential and commercial mortgage loans.

The Mortgage Default Specialist is responsible for collection of all unpaid and / or returned mortgage payments and resolution of all accounts in default.

This role is responsible for responding to internal client inquiries and contributes to the success of the department achieving their goals while remaining focused on operational excellence, compliance, and delivery of superior customer service.

Need more details? Keep reading...

• Recommend appropriate enforcement action to management and / or the Special Handling Committee.
• Responsible for the completion of all specific loans provision analysis, including the recommendation of reserves or provisions.
• Provide clear direction to property managers for properties in possession, to ensure an expeditious sale.
• Process any manual ad-hoc mortgage payments in response to collected default payments as required.
• Re-risk grading of loans based on review of payment history and / or breaches occurred
• Reconcile and balance all collected mortgage payments daily.
• Prepare reporting of loans in default, monitored loans, properties in possession and accounts in chronic arrears due to pending legal action
• Process all transactions with a high degree of accuracy within the established service level agreement and in accordance with CTC’s corporate and department policies and procedures.
• Respond to and / or investigate all internal client inquiries within the department service standards.
• Maintain accurate electronic record keeping of client accounts in accordance with department procedures.
• Provide recommendations for process improvements to Senior Manager, Mortgage Servicing and Team Lead, Mortgage Servicing, as appropriate.
• Follow all AML policies and procedures with client accounts with an emphasis on Know Your Client rules
• Proactively identify actual and potential violations of AML regulatory requirements, internal policies and procedures or other AML / ATF risk situations at an early stage.
• Conduct appropriate inquiries and investigations in relation to any such situation and ensure that corrective actions and / or risk mitigation actions are implemented in a timely manner or escalated appropriately
• Adhere to compliance and operational risk controls in accordance with company’s policies and procedures
• Provide support to the Senior Manager, Mortgage Servicing and Team Lead, Mortgage Servicing as required.

So are YOU our next Mortgage Default Specialist? You are, if you have

• Minimum of 2 years related experience in mortgage administration and / or servicing and / or collections and registered products within the financial services industry or a related role.
• Post-Secondary Education preferred.
• Working knowledge of financial regulatory requirements on registered products, AML, and Compliance is an asset
• Demonstrates effective organizational and time management skills.
• Demonstrates interpersonal and relationship building skills.
• Solid written and verbal business communication skills.
• Strong analytical skills.
• Working knowledge of Google Workspace
• Detail oriented with an acute attention to accuracy.

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