Commercial Mortgage Servicing Specialist
4 weeks ago
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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