Reverse Mortgage Underwriter

4 days ago


Toronto, Ontario, Canada EQ Bank | Equitable Bank Full time

About Us

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  • We are a big (and growing) family. Overall we serve more than 670,000 people across Canada through Equitable Bank, Canada's Challenger Bank.
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At EQ Bank | Equitable Bank, our goal is to provide innovative banking solutions that enrich people's lives. We believe in pushing the boundaries of what's possible and challenging ourselves to transform the banking experience.

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The Role

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  • The Reverse Mortgage Specialist is responsible for assessing new mortgage applications, issuing mortgage commitments, and collecting required documentation for taking transactions to the funding stage in a timely and prudent manner within established guidelines.
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Main Responsibilities

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  1. Review received applications, verify supporting documentation, approve, decline, or refer them for approval daily.
  2. Ensure approved deals close as scheduled by following up on outstanding conditions/documents and ensuring compliance with established guidelines.
  3. Follow up with brokers daily on issued mortgage commitments to maximize funding volumes.
  4. Review documentation for accuracy and legitimacy, emphasizing anti-money laundering (AML) and anti-terrorist financing (ATF) requirements.
  5. Provide underwriting and mortgage fulfillment expertise to mortgage brokers, direct-to-client representatives, and aid co-workers when required.
  6. Manage deal flow to meet prescribed deadlines and service levels.
  7. Assess applicants' fit with EQB's Reverse Mortgage criteria, specifically credit worthiness and legal ability to assume a mortgage.
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Requirements

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  • Post-secondary education in business or finance.
  • Minimum of 2 years' mortgage experience, with preference given to reverse mortgage exposure.
  • Highly developed verbal and written communication skills.
  • Excellent time management, analytical, and problem-solving skills.
  • Sound knowledge of AML & ATF practices and fraud risk in the mortgage industry.
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What We Offer

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  • Competitive discretionary bonus.
  • Market leading RRSP match program.


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