Senior Mortgage Underwriter - Toronto - RFA Mortgage Corporation

Senior Mortgage Underwriter - Toronto - RFA Mortgage Corporation

Friday, April 19, 2024

RFA’s residential mortgage lending business is operated by RFA Mortgage Corporation and RFA Bank of Canada, a federally regulated Schedule I Bank.

RFA Mortgage Corporation specializes in Prime lending (Insured, Insurable, Uninsurable), while RFA Bank of Canada is a balance sheet based Alternative mortgage lender (Alt-A and B lending).

Combined, RFA offers mortgage brokers a one-stop shop with our full suite of competitive Prime and Alternative mortgages.

RFA’s strategic vision is to be a long-term leader in the residential lending segment by offering a value proposition beyond just rate and compensation.

Through building a competitive broker experience and solutions-oriented product suite, RFA’s goal is to be recognized and recommended by our mortgage broker partners, mortgagors, and other strategic partners, for our financing solutions and broker / client experience.

The Opportunity

We are looking for a Senior Mortgage Underwriter to join our Toronto team. The successful candidates will review, process, and approve mortgage applications in a timely and effective manner resulting in the achievement of RFA Mortgage Corporations overall residential mortgage underwriting policy and applicable guidelines.

Customer Results

• Underwrite to highest credit quality standards as defined by the Residential Mortgage Underwriter Policy.
• Negotiate, approve, recommend, and decline applications within RFA Mortgage Corporations Residential Underwriting Guidelines, including without limitation :
• Review of credit information
• Review of real estate appraisals for consistency, with prevailing market conditions.
• Terms and conditions on all mortgage applications.
• Submit applications for insurer approval, where applicable.
• Prepare and issue mortgage commitments.
• Follow up on outstanding conditions / documents.
• Review and verify accuracy of required documentation related to the mortgage commitment. Requirements include Income validation, down-payment validation, collateral validation, title, mortgage statements, tax statements, etc.
• Modify mortgage applications related to changes in documentation reviewed; submitting to Mortgage Insurer(s) where required.
• Identify and escalate instances of suspected fraud to Senior Management and Quality Assurance.
• Maintain service levels in an environment of high volumes and the competing demands of customers and employees.
• Maintain direct contact with mortgage originators via updates specific to the application from fulfillment through to closing.
• Build and maintain exceptional customer service levels.

Operational Efficiency and Risk Management

• Manage work volumes to meet short timelines with a high level of quality.
• Evaluate real estate and associated risks in a volatile market.
• Handle difficult interactions and unpopular decisions.
• Build relationships with mortgage brokers and related business partners.
• Keep up to date with evolving policies and procedures.

What you can bring to RFA :

• Must have previous residential mortgage underwriting experience.
• Undergraduate university degree is an asset.
• Detailed working knowledge of real estate and covenant assessments, legislation and land title systems in all provinces
• Detailed working knowledge of principles of credit analysis and risk management
• Understanding of credit scoring
• Ability to understand financial statements and assess financial viability.
• Previous experience working with mortgage brokers or an external mortgage sale force.
• Working knowledge of PC software in a Windows environment
• An ability to handle pressure caused by high volumes and tight turnaround times.

Benefits of Working at RFA :

• Vision Care
• RRSP Match
• Vacation & Personal Days
• Hybrid working environment

Are you the Right Candidate?

• Demonstrated ability to assess risk in a fluctuating real estate market.
• Building productive relationships with mortgage brokers, internal mortgage agents and related business partners
• Strong attention to detail
• Demonstrates the ability to make decisions that consider all implications and proactive management of risk.
• Demonstration of solid negotiation and problem-solving skills
• Excellent interpersonal and negotiation skills
• Ability to adapt to changing volumes.
• Understand the needs that drive a commissioned sale force.
• An ability to multitask and handle pressure caused by seasonal high volumes and tight turnaround times.
• A very strong customer focus is required with an ability to ensure the customer experience is a positive one.
• An ability to make quick accurate decisions.
• Managing work volumes to meet short timelines with a high level of quality.
• Evaluating real estate and associated risks in a volatile market
• Handling difficult interactions and unpopular decisions.
• Building relationships with mortgage brokers and related business partners
• Keeping up to date with evolving policies and procedures

Accessibility

Accommodation is available upon request for applicants and employees with disabilities. If you are contacted for a job opportunity, please advise us of any accommodations needed to ensure you have access to a fair and equitable process.

Any information received relating to accommodation will be addressed confidentially.

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