Mortgage Fulfillment Officer

Requisition ID: 149073

Join a purpose driven winning team, committed to results, in an inclusive and high-performing culture.

Purpose of Job:
MOSE delivers a unique value proposition to Scotiabank, acquiring new customers to the bank, segmenting Mortgage Broker Customers and providing “high touch” underwriting and funding services to our top tier “Achiever” Brokers and “High Volume” Home Financing Advisors. Each Mortgage Fulfillment Officer (MFO) works closely with multiple assigned Broker Relationship Managers (BRM) or Home Financing Lending Managers (HFLM) The BRM/HFLM and MFO are the single point of contact for the Mortgage Broker/Home Financing Advisor throughout the entire underwriting/funding process. The MFO on average would be responsible for funding 800 + or - mortgage originations annually representing over $225 Million. The MFO is responsible for setting up the customer and mortgage information onto multiple Scotiabank systems, instructing the lawyer, preparing and packaging the file and dispersing mortgage proceeds. The MFO is also responsible for ensuring all additional credit adjudication is identified and accurately communicated to the branch staff to assist the branch in reaching their cross sell objectives.

He/she provides an excellent, differentiated level of customer service to assigned Broker Relationship Managers/Home Financing Lending Managers and high volume Mortgage Brokers/Home Financing
Advisors, as well as, all internal and external contacts including Branches, Solicitors and Business Partners.
He/she ensures strict adherence to internal Bank policy and procedures including “Know Your Customer” Guidelines, Privacy Code, Anti-Money Laundering Regulations, such that the Bank’s legal, operational and reputational risks are protected at all times. He/she determines and escalates all out-of-policy exceptions for resolution.

Major Accountabilities:

- Monitor daily work, prioritize and complete with a high degree of accuracy within established SLA.
- Accurately preparing and forwarding instructions to the lawyer within established SLA.
- Forward mortgage documents to branch for customer signing through workflow within established SLA.
- Accurately preparing mortgage files and forwarding to the branch for filing.
- Reviewing Request for Funds and Identification Verification documents provided by Solicitor to ensure it is accurate and in compliance with Bank requirements.
- Accurately entering mortgage information into various Bank systems such as the Alternate Mortgage Channel Underwriting platform (MIMS), Term Lending System (TLS), Customer Information System (CIS), Visa and Scotialine platform (KS),
- Workflow, Imaging and Document Repository (IRIS) and the Mortgage Fulfillment System (MFS)
- Accurately preparing and reviewing documentation including Personal Credit Agreement (PCA), Cost Of Borrowing (COB), Mortgage Protection Application (MPA) and Bridge loan security documents, ensure all disclosures are enclosed as per regulatory requirements.
- Requesting all internal mortgage payout statements and providing to the appropriate party.
- Requesting all external payout statements and preparing drafts for all 3rd Party Mortgage Fulfillment partners (Fidelity National Financial & First Canadian Title).
- Calculate and refund mortgage prepayment penalties based on bank policy.
- Make appropriate decisions regarding the deal structure to ensure it is in accordance with bank policies (ex ILA set up, SAM Warnings, STEP limits, links, ports and STEP Restructures).
- Determining and escalating issues such as title defects, credit compliance deficiencies as required.
- Dispersing mortgage proceeds on the correct date and to the appropriate payee; verifying the accuracy, completeness and obtain Team Leader authorization.
- Preparing posting worksheets for the Mortgage Accounting Department to post the corresponding GL entries.
- Ensuring prompt, accurate and thorough response and resolution to telephone and written enquiries from branches, lawyers, BRMs/HFLMs and Achiever Mortgage Brokers/High Volume Home Financing Advisors
- Acting as intermediary to communicate information between BRMs/HFLMs, Braches and Solicitors.
- Maintaining accurate records and filing systems per established procedures.
- Providing backup, as required, to other Mortgage Fulfillment Officers to cover absences/vacations.
- Take corrective measures or recommend same to prevent recurrence of errors/problem situations.
- Assist and ensure implementation of required changes (system, policy, procedures)
- Identify opportunities for process improvements and developing recommendations for consideration.
- Identify opportunities for cost savings and/or increased efficiency.
- Maintaining a thorough knowledge of the systems (MIMS, MFS, TLS, CIS, Adobe, KS,workflow, IRIS) and Expert knowledge of Scotiabank’s mortgage products, policies, procedures and processes.

2. Provide superior customer service to BRMs/