Renewal Account Manager

The Role

The role of the Renewal Account Manager (RAM) is critical to the success of borrower retention and managing investors’ expected rate of return.Accountabilities include all aspects of re-underwriting the loan at renewal by proactively contacting our borrowers whom MCAP wishes to retain; potentially in advance of, and throughout the 90-days prior to their maturity date and obtaining updated documentation from borrowers to be used in the re-underwriting process.

This position is accountable for managing the assigned segment of upcoming maturities each month by reviewing and determining the best option for the client, the investor and Eclipse. The RAM is accountable for overseeing complex renewals and pricing to ensure Investor(s) guidelines and the Eclipse Risk Based Methodology are adhered to in order to mitigate the risk of ‘orphan loans’.The RAM is accountable for completing a detailed write-up on all loans which are ‘priced to leave’ and is also accountable for all the non-funding aspects of the Eclipse Portfolio including referring loans for refinancing, porting, covenant changes and determining cost to discharge during mid-term.

This individual is expected to work within the hours deemed to be the best fit for reaching the assigned portfolio of customers. The typical workday ranges from 9 : 00AM-8 : 00PM EST in order to accommodate the various time zones within Canada.

Reviewing Upcoming Maturities

• Re- underwriting a loan at renewal taking into account current loan to value ratios, repayment history, geographic location, credit bureaus and title search.
• Verifying information on file and with the Credit Bureau to ensure accuracy.
• Verifying information to ensure it meets company guidelines. Determining the best contact strategy to reach borrowers to discuss upcoming renewal.
• Employ retention strategy which focuses on profitable files – mortgages with the highest balance; those with higher risk of payout.
• Prospecting loans at renewal in order to increase Eclipse’s overall retention rates.
• Prospecting loans at renewal to determine if a refinance will benefit the client and Eclipse.
• Prospecting loans at renewal to determine if the mortgage can be moved up the credit spectrum to Prime.
• Promote MCAP products / services, refinance, convert to prime and HMP opportunities.
• Pricing right to balance customer retention strategy and to fulfil investor requirement / rate of return.
• Providing investor-specific information for upcoming renewals to the Investor via the investor portal for the investor’s review and approval.Includes documents such as – list of upcoming renewals, title search, credit bureau reports, property valuation, consumer proposal, etc.
• Adherence to prescribed timelines is critical for this role as per provincial guidelines and internal workflow demands.

Credit Adjudication

Customer Service

What You Bring To The Team