Reverse Mortgage Product Manager

5 days ago


Toronto, Ontario, Canada EQ Bank | Equitable Bank Full time
Job Description:
As a Senior Reverse Mortgage Specialist, your primary responsibility will be to assess new mortgage applications, issue mortgage commitments, and collect required documentation for taking transactions to the funding stage in a timely and prudent manner within established guidelines. This includes reviewing received applications, verifying supporting documentation to ensure accuracy and legitimacy, approving, declining, or referring the applications for approval.

In addition, you'll be responsible for following up with brokers daily on issued mortgage commitments to ensure that funding volumes are maximized. You'll also review documentation for accuracy and legitimacy, placing a strong emphasis on AML and ATF requirements, including but not limited to, income and down payment verification.

To succeed in this role, you'll need to make diligent use of reports to track and manage the flow of all deals funding for your pipeline. You'll also assess an applicant's fit with EQB's Reverse Mortgage criteria, specifically credit worthiness and legal ability to assume a mortgage. Activities may include title searches, property maintenance affordability calculators, reviewing property appraisal and borrower documentation to meet internal policy and procedure, regulatory and file-specific requirements.

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