Director of Underwriting

3 days ago

Toronto, Ontario, Canada Marathon Mortgage Corp. Full time

Marathon Mortgage Corp. (MMC) is a growing Canadian mortgage finance company whose success is predicated on its ability to provide competitive mortgage products, mortgage interest rates and reliable service for its borrowers and broker partners. Marathon's clear aim is to be a formidable presence in the mortgage market by mass-distributing and mass-marketing competitively priced mortgage products while delivering an exceptional service experience. MMC's work environment is centered on its people to ensure they are valued, respected, and where balance, camaraderie, collaboration are the minimum watermarks. MMC is an empowering environment where people are measured by their performance and left to their talents to flourish.

ABOUT THE ROLE

Director of Underwriting leads and supports a team of Underwriters in meeting the goals of the Residential Underwriting Division. Under their guidance and leadership, the underwriting team is responsible for the assessment of mortgage applications in making lending decisions in adherence with the established mortgage underwriting policies and guidelines. This individual mentors, develops, and coaches a solid team of performing underwriters to ensure they are reviewing required documentation for accuracy and completion while maintaining a consistent focus on service excellence. In addition, they will be a valued contributor to internal discourse regarding shaping strategy, processes, and many other areas to foster excellence in our constant pursuit to enhance our organization.  

WE CARE ABOUT OUR PEOPLE, WHAT WE OFFER

  • Very competitive base salary further enhanced by an annual incentive performance bonus
  • Four (4) weeks of vacation plus additional flex days
  • Excellent benefit packages
  • A flexible hybrid environment

Core Responsibilities

  • Ensure daily follow up with brokers that have been committed (approved) to maximize efficiencies
  • Assists in ongoing updates of Marathon's mortgage underwriting policies (RMUP)
  • Works closely with Quality Assurance team and investors as it relates to audits
  • Work with staff to maintain current knowledge of polices and procedures
  • Reviews and signs off on loans within a prescribed approval authority
  • Be a key contributor to delivering an exceptional service experience when interfacing with brokers, clients, and any other valued stakeholder
  • Ensuring that minimum service level standards are maintained as it relates to service level agreements
  • Proactively identifies efficiencies and best practices to impart into the underwriting team by way of bottling these for the entire team
  • Assists in directly underwriting files in periods of higher volumes while maintaining their own pipeline
  • Mentoring, coaching, and developing the underwriting team to underwrite to highest credit quality standards as defined by the Residential Mortgage Underwriting Policy
  • Negotiate, approve, recommend, and decline applications within Marathon's Residential Underwriting Guidelines
  • Manages escalations and exceptions processes
  • Maintain highest standard of fulfilling obligations regarding AML/Compliance, Quality Assurance, and the like
  • Leads and/or supports key projects collaboratively with other members of the organization
  • Handle difficult interactions and unpopular decisions
  • Keep up-to-date with evolving policies and procedures
  • Review audit results to identify areas of development with the team through action plan development and monitoring processes to ensure execution and follow through
  • To review and monitor the daily actions of the Underwriting Department ensuring the service levels are adhered and the key DNA of Marathon is continually embodied
  • To resolve problems concerning mortgage applications and support staff with general inquiries
  • Liaise with sales team, brokers, clients, investors, and any other key stakeholders
  • Drives training and mentoring of new/existing staff
  • To ensure that any challenges are resolved professionally and efficiently
  • Performing other duties and assist with special projects, as required

Requirements

  • Deep experience with mortgage insurers
  • Experience managing a team of people with a proven record of training and developing underwriters
  • Experience in working with outside with many stakeholders. I.e., Investors, aggregators, mortgage insurers, and the like
  • Must have extensive residential mortgage underwriting experience, with detailed working knowledge of real estate and covenant assessments
  • Ability to multi-task
  • Thrives in an environment that is ever changing and fluid
  • Highly organized
  • Great verbal and written communication skills
  • Sound knowledge of AML and KYC policies and ensuring deployment of related policies and procedures
  • Is able to work harmoniously with all other members of the organization
  • Leads by example to perpetuate the organizational culture of excellence, execution, and collaboration
  • Detailed working knowledge of principles of credit analysis and risk management
  • Working knowledge of PC software in a Windows environment
  • Demonstrates the ability to make and document decisions that consider all implications and proactive management of risk
  • Demonstration of solid negotiation and problem-solving skills
  • Ability to adapt to changing volumes and while maintain turnaround time expectations
  • A very strong customer focus is required with an ability to ensure the customer experience is an exceptional one
  • An ability to make quick decisions without compromising underwriting quality
  • Undergraduate university degree is an asset
  • Ability to speak French an asset.

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