Commercial Mortgage Portfolio Manager
2 weeks ago
Job Overview
MCAP is seeking a highly skilled Commercial Mortgage Administrator to join its team. As a key member of the Loan Servicing unit, this individual 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, reconcile cash disbursements, and prepare tax escrow analysis to ensure sufficient funds are available for tax payments.
- Explore automation opportunities on the mortgage system related to tax escrow functionality.
- Review and update procedures and policies as related to tax escrow management.
- Follow up on solicitor final reports within 45 days of funding, ensuring final, signed mortgage documents are received and stored.
- Review solicitor final reports, manage the solicitor final reports event on the system, and maintain status notes for outstanding items.
- Ensure previous charges on title are discharged.
- Maintain Personal Property Security Action (PPSA) renewals and amendments, liaise with borrowers and vendors, and review received documents for accuracy.
- Process payments, prepare daily reconciliations, deposit slips, and ensure cheques are deposited at the bank.
- Participate in internal and external audits, liaison with other Commercial and Corporate teams, and perform other post-funding activities as required.
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, MS PowerPoint, and 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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