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Commercial Mortgage Underwriting Trainee

2 months ago


Toronto, Ontario, Canada Equitable Bank Full time

Objective of the Role

The primary aim is to support the Commercial Mortgage Underwriting division in evaluating CMHC-insured commercial mortgage loans. The Intern will receive comprehensive training on various underwriting processes, including the assessment of rental income sources, borrower financial stability, and critical risk elements associated with lending decisions. Additionally, the Intern will gain insights into the Bank's established policies, underwriting criteria, and federal compliance regulations while striving to find innovative solutions to meet customer service objectives and internal volume targets.

Key Responsibilities:

60% Daily, the Intern will conduct analyses and underwriting of CMHC-insured commercial mortgage loans, as well as perform annual evaluations of the CMHC-insured loan portfolio. The allocation of time will be adjusted based on business needs. It is crucial to ensure adherence to the company's lending guidelines and procedures, with recommendations for approval submitted to management. The Intern is accountable for confirming that all lending criteria are met for underwritten deals and that any outstanding documentation or conditions are addressed promptly.10% Daily, the Intern will engage with external contacts (origination partners) and internal stakeholders (funders, managers, administrators) to ensure that mortgage loan transactions are processed efficiently and in a timely manner, thereby delivering exceptional customer service and meeting necessary funding timelines.10% Daily, the Intern will manage their workload effectively to meet established deadlines.20% Weekly, the Intern will assist with various credit-related and administrative tasks, including reporting, pipeline management, and special projects.

Qualifications and Skills:

Currently enrolled in a University or College program, preferably in Finance, Business, Accounting, or Economics.Proficient in MS Office applications (Excel, PowerPoint, and Word).Strong organizational abilities with a proven capacity to work under pressure and meet tight deadlines.Meticulous attention to detail.Excellent analytical capabilities.Outstanding verbal and written communication skills, with the ability to convey information clearly and professionally.Aptitude for managing multiple competing priorities.Ability to thrive in a fast-paced work environment.

Application Submission Guidelines

All applications must be submitted through the company website. Search for: Commercial Mortgage Underwriting Intern, CMHC.Note: Applicants must be active students returning to school. Applications from graduates will not be accepted unless required for a co-op placement to graduate.Applicants should compile and submit ONE DOCUMENT that includes transcripts, resume, and cover letter. Incomplete applications will not be considered.

Benefits Offered [For full-time permanent roles]

Competitive discretionary bonus.Market-leading RRSP matching program.Comprehensive medical, dental, vision, life, and disability benefits.Employee Share Purchase Plan.Maternity/Parental top-up benefits.Generous vacation policy and personal days.Virtual events for colleague engagement.Annual professional development allowance and a robust Career Development program.An enriching opportunity to join a leading FinTech and contribute to a transformative banking experience.