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Commercial Funding Officer

1 month ago


Toronto, Canada MCAP Full time

Commercial Funding Officer

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

This position is responsible for funding Conventional or CMHC Insured term commercial loans. This position is responsible for processing financial and non-financial transactions; ensuring data records are accurately maintained; identifying credit risks and ensuring loan security is in place and is retained in the face of changing conditions. The incumbent is also responsible for providing exceptional customer service to Investors, Brokers, and Borrowers in order to build and maintain relationships.

  • Review Commitment Letters, Loan Summaries, and CMHC Certificate of Insurance; coordinate with internal/external parties to ensure correct documentation/searches are in place prior to funding.
  • Mandate external consultants and third parties according to MCAP’s Policies and Procedures and coordinate for documentation including but not limited to mortgage security and Anti-Money Laundering documentation, Insurance consultant Opinion, Appraisals, Quantity Surveyor, ESA, etc.
  • Collect, review, and verify loan documentation and funding information from various stakeholders and third parties, to ensure all pre-funding requirements are met or waived by appropriate authorities in time for the established funding date.
  • Liaise with solicitors, originators, and MCAP’s Investment Management to collect, review and verify loan documents. Identify any material items such as existing mortgages, PPSA, Liens to ensure all pre-funding requirements are met or waived by appropriate authorities in time for the established funding date.
  • Review corporate documentation of relevant entities, legal documentation to the transaction and Individual Verification Forms to ensure that all funding and AML criteria have been satisfied.
  • Once required, conduct independent due diligence to determine an alternative solution in line with MCAP’s risk appetite via exception requests to management based on the delegated authorities.
  • Review rate sets, CMHC holdback releases, and request of funds. Provide counsel with the Interest Adjustments and the tax holdback amounts.
  • Accurately loan set-up on Precision LM with a 95% average on Critical Fields Checklist. Post all financial and non-financial transactions on Precision LM and diarize and update mortgage system i.e., PPSA, Notes & Events and follow-up items (undertaking/action items) for audit within the established timelines.
  • Use effective oral and written communication techniques to deliver quality service.

What You Bring To The Team

  • Two years commercial mortgage experience.
  • Previous legal background is considered an asset.
  • CMHC multi-residential loan experience.
  • Strong understanding of commercial mortgages, funding procedures and legal mortgage terms.
  • Ability to work independently and as a member of a team.
  • Strong interpersonal skills with the ability to work independently and as a member of a team (cross coverage may be required).
  • Excellent organizational and time management skills, ability to prioritize.
  • Strong attention to detail with the ability to work well under pressure in a fast environment where priorities and tasks are often subject to change.
  • Proven ability to prioritize, strong organizational and time management skills with the demonstrated ability to handle multiple tasks within tight deadlines.
  • Exceptional verbal and written communication and reasoning skills.
  • Highly analytical with great attention to detail.
  • Excellent problem-solving skills and conflict resolution skills.
  • Strong customer service skills with proven professionalism.
  • Working knowledge of MS Office.
  • Successful completion of a bachelor’s degree or College Diploma in Business Administration.
  • Bilingual preferable.

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 #: req1988

Employment Status: Permanent Full Time

Location:Toronto; Ontario

Number Of Openings:1

Department: Commercial Mortgage

Internal Job Title: Commercial Funding Officer

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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