Mortgage Underwriter Associate

4 weeks ago

Toronto, Ontario, Canada Bayview Asset Management Full time

Job Title: Associate, Underwriting

Job Summary:

We are seeking a seasoned Associate, Underwriting to join our team at Bayview Asset Management. The successful candidate will be responsible for evaluating the credit worthiness and management capabilities of the borrower, the real estate collateral securing the proposed loan, and maintaining the relationship with broker partners.

Key Responsibilities:

  • Underwrite and decision files based on sound credit with particular emphasis on adherence to credit policy and requirements, risk culture, financial analysis/modeling, risk evaluation and mitigation, and proper loan structuring within delegated authority.
  • Conduct in-depth review, analysis, and research of balance sheets, income statements, cash statements, text returns, and projections to underwrite mortgage files.
  • Interpret and analyze financial information from multiple sources, including reporting services, credit bureaus, credit reports, and other industry data to inform underwriting decisions.
  • Assess the borrower's ability to generate income sufficient to repay existing and proposed debt.
  • Review appraisal, environmental, and other reports to identify risk areas and recommend mitigating solutions and next steps.
  • Prepare narrative analysis of the financial review, demonstrating a thorough understanding of financial condition.
  • Recommend various loan structures (and pricing structures) that balance risks and rewards.
  • Adhere to applicable compliance obligations, including Privacy, Anti-Money Laundering/Anti-Terrorist Financing, and internal Anti-Fraud Policy requirements.
  • Establish relationships with Sales and other key stakeholders that optimize business potential with broker channel.

Requirements:

  • At least 3 years of experience in residential/commercial underwriting, financial analysis, or deal structuring in financial services.
  • Bachelor's degree in business, finance, or a related field preferred.
  • Formal credit or residential/commercial loan training and some previous credit decisioning preferred.
  • Knowledge of credit/underwriting of small commercial real estate loans.
  • Working knowledge of bankruptcy, foreclosure, and litigation matters is considered an asset.
  • Ability to work effectively in a fast-paced environment.
  • High integrity and a high level of respect for confidentiality.
  • Strong written and verbal communications skills.
  • Strong analytical and intuitive investigative skills.
  • Ability to manage multiple tasks and prioritize workflows often under tight deadlines.
  • Strong independent decision-making capabilities and attention to detail.
  • Skilled in negotiating issues and resolving problems and influencing decisions to meet performance goals.
  • Strong skills in Word, Excel, and Outlook.
  • Ability to establish and maintain working relationships with co-workers, staff, and external contacts, and to work effectively in a professional team environment.
  • Demonstrate leadership abilities.

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