Mortgage Underwriter

6 months ago

Toronto, Canada RFA Bank of Canada, RFA Mortgages Corp. Full time

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

Customer Results
- Make prudent underwriting decisions based on the credit quality standards as defined by the Residential Mortgage Underwriting Policy.
- Review of credit information
- Review of real estate appraisals for consistency, with prevailing market conditions
- Review loan pricing based on risk objectives and thresholds set by RFA Bank.
- Prepare and issue mortgage commitments within assigned SLAs.
- Identify and escalate instances of suspected fraud to Senior Management, AML/Compliance, and Quality Assurance.
- Maintain service levels in an environment of high volumes and the competing demands of customers and employees.
- Provide guidance and mentorship to mortgage fulfillment officers to ensure documentation meets bank requirements.
- Build and maintain exceptional customer service levels for our broker partners.

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.
- Review of loans acquired by the bank post funding.

**What you can bring to RFA**:

- Previous residential mortgage experience and working knowledge of real estate is an asset.
- Undergraduate university degree is an asset.
- Detailed working knowledge of principles of credit analysis and risk management
- Working knowledge of PC software in a Windows environment

**Benefits of Working at RFA**:

- Health & Dental Care
- Vision Care
- RRSP Match
- Vacation & Sick Days
- Hybrid working environment
- Demonstrated ability to assess risk in a fluctuating real estate market.
- Building productive relationships with mortgage brokers, mortgage agents and related business partners
- 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 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 decisions without compromising underwriting quality.

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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