Mortgage Administrator - Commercial

Mortgage Administrator - Commercial

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

As one of the MCAP Group of Companies, MCAP Financial Corporation (“MCAP”) originates and services commercial mortgages loans on behalf of its investors. Reporting to the Manager, Loan Servicing this role is responsible for post-funding activities on our commercial CMHC-Insured and Conventional Mortgages per the terms of our loan agreements, investor servicing agreements and established policies and procedures.

This is a functional role across the portfolio with a key focus and understanding of municipal tax processing and commercial mortgage legal documentation. Additional responsibilities include payment processing, PPSA renewals, mortgage amendment processing and other functions as assigned while providing exceptional customer service to our Investors, Borrowers and internal contacts.

Tax Escrow Management

• Assume responsibility for the commercial mortgage portfolio’s tax escrow accounts by understanding tax installment due dates and processes for each municipality across Canada on the underlying mortgaged properties
• Collect tax bills and prepare the backup to ensure the timely payment of tax disbursements to the municipality on escrow and non-tax escrow loans
• Process tax disbursements to the mortgage system and reconcile the cash disbursements to the amount processed on the system
• Prepare tax escrow analysis on mortgage accounts to ensure that sufficient funds are on hand to make the tax payments to the municipality and communicate any shortfalls or monthly payment changes to the borrower
• Explore, test and pursue automation opportunities on the mortgage system as it relates to tax escrow functionality
• Review and update procedures and policies related to tax escrow management

Solicitor Final Reports

PPSA Administration

Payment Processing and Daily Deposit Reconciliation

Mortgage Discharge Processing

Loan Amendments

Other Post-Funding Activities

30 days to Asset Management

$0-$25K (Delegated Authorized)

What You Bring To The Team

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 # : req2091

Employment Status : Permanent Full Time

Location : Toronto; Ontario

Number Of Openings : 1

Department : Commercial Mortgage

Internal Job Title : Mortgage Administrator

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.

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