Commercial Mortgage Servicing Specialist

4 weeks ago


Toronto, Ontario, Canada MCAP Full time

Job Summary

MCAP Financial Corporation is seeking a highly skilled Commercial Mortgage Administrator to join its team. As a key member of the Commercial Servicing unit, this role will be responsible for post-funding activities on commercial CMHC-Insured and Conventional Mortgages.

Key Responsibilities

  • Assume responsibility for the commercial mortgage portfolio's tax escrow accounts, understanding tax installment due dates and processes for each municipality across Canada.
  • Collect tax bills, prepare backups, and ensure timely payment of tax disbursements to municipalities.
  • Process tax disbursements to the mortgage system, reconcile cash disbursements, and prepare tax escrow analysis to ensure sufficient funds for tax payments.
  • Follow up on solicitor final reports within 45 days of funding, ensuring final, signed mortgage documents are received and stored in individual mortgage files.
  • Maintain Personal Property Security Action (PPSA) renewals and amendments on the system, liaise with borrowers and third-party vendors, and review PPSA renewals and amendments for accuracy.
  • Post payments and payment of invoices to the mortgage system daily, prepare daily reconciliations, deposit slips, and ensure cheques are deposited at the bank.
  • Handle mortgage discharge legal documentation, liaise with solicitors, and ensure backup is maintained in the mortgage file.

Requirements

  • 2+ years' experience in commercial mortgage administration, with a focus on tax escrow administration and knowledge of commercial mortgage legal documentation.
  • Experience working in a loan servicing system.
  • Proven track record of being a self-starter and taking initiative.
  • Excellent time management skills, with the ability to handle multiple tasks in a proactive manner.
  • Excellent customer service skills.
  • Exceptional verbal and written communication.
  • Proficient with Microsoft Outlook, MS Word, MS Excel, and MS PowerPoint.
  • Demonstrated ability to communicate and pursue automation and process efficiencies.
  • Strong organization and analytical skills.
  • Self-driven and motivated to work in a dynamic environment where independent and teamwork is required.
  • Proficient with numerical analysis and review of loan agreements.
  • Bilingual (French and English).
  • Post-secondary diploma or degree.


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