Funding Administrator

Funding Administrator

MCAP at a Glance

Joining
MCAP means you will be a part of our diverse workforce of highly talented
individuals who are recognized for their expertise and success At MCAP, your
professional expertise, commitment to teamwork and passion for service
excellence are recognized and rewarded with competitive total rewards offering,
a career with continuous learning and development (formal & informal
training), and exciting opportunities in a dynamic, entrepreneurial
environment.

The Role

This position is accountable for funding assigned deals having single loan advances as well as processing progress construction advances in accordance with company policies and procedures.

The incumbent's key responsibilities are Loan Payment Processing, Cash Management and Letters of Credit administration in addition to routine administrative tasks.

The successful candidate will apply exceptional customer service skills in their interactions and relationships with our clients, third party professionals and internal staff.

Construction Loans

• Set-up new construction loans on loan management system, internal shared drives, and investor portal.
• Instruct and liaise with external consultants: e.g. lawyers, insurance consultant, cost consultants.
• Collect, review, and verify loan documentation and funding information from various stakeholders and third parties to ensure all funding condition requirements are met prior to established funding date.
• Review and process progress advances based upon a cost consultant's report.
• Ensure that all Investor approvals are in place for each advance and that the mortgage security is/remains in place maintaining the lender's priority position.
• Post advance and administrative financial transactions onto the loan management system.
• Arrange for internal signoffs to an advance and liaise with the Investor(s) with respect to the satisfaction a loan's condition precedent.
• Post advance and administrative financial transactions onto the loan management system.
• Diarize and maintain follow-up event items on the loan management system: e.g. insurance, financial statements, annual property taxes; solicitor reports.
• Issuance of monthly Borrower statements.

Letters of Credit Transactions

• Responsible for processing Letters of Credit Amendments and posting transactions on loan administration management system.
• Issuance of monthly invoicing for Letters of Credit.
• Payment processing of Letter of Credit Fees for fully cash secured Letters of Credit.
• Reconcile Letters of Credit between Bank's records/reports and PLM.

Loan Payment Processing and Cash Management

• Post loan payments, fees, and other financial transactions on the System of Record.
• Confirm receipt of direct or wire deposit funds into MCAP's Bank Account.
• Reconcile received closing proceeds with the respective partial or final discharge statement(s).
• Advise Cash Management, and Investor Relations of daily cash deposit transactions.
• Prepare and deliver a deposit slip for daily cash receipts to our Finance Group.
• Responsible for the preparation of the daily Bank Wires & Cheques reconciliation.

Records Management

• Maintain PPSA Security and update information on PLM for tracking purposes.
• Log and input sales information on project specific sales report.
• Perform all closing functions to discharge mortgage loans.
• Responsible for sending, retrieving, and record keeping of files stored with an offsite Records Management company.

What You Bring To The Team 

• Excellent organizational and time management skills.
• Comprehensive MS Office experience.
• Exceptional oral and written communication skills.
• Strong analytical and problem-solving skills.
• Ability to foster relationships and provide strong customer support.
• Self-driven, motivated with the ability to work independently and in a team environment.
• Post-Secondary Education (Diploma or Degree)

If this sounds like you and you are looking to be a part of one of Canada's largest independent mortgage finance companies, then we want to hear from you

Be A Part Of Something Great

MCAP
is Canada's largest independent Mortgage
Finance company with
over $150 billion in assets under management providing mortgage solutions for
residential and commercial properties. For over 35 years,
MCAP originates, trades, securitizes and services mortgages in offices across
Canada. MCAP originates residential mortgages exclusively through the mortgage
broker channel as we believe that a professional mortgage broker is a
consumer's best option and MCAP actively promotes the services of mortgage
brokers across the country. MCAP is also a leader in the Canadian residential
construction lending market with over 25 years in the business. Our teams of
dedicated professionals serve a variety of developer, construction and lender
clients across Canada.

Position #: req2134

Employment Status: Permanent Full Time

Location: Vancouver; British Columbia

Number Of Openings: 1

Department: Development Finance

Internal Job Title: Funding Administrator

Salary Range: $50,000 - $60,000

The above information in this description has been designed to indicate the general nature and level of work performed by employees in the position.  It is not designated to contain a comprehensive inventory of all duties, responsibilities, and qualifications required of employees assigned to this job.

MCAP provides equal opportunities for all applicants and is committed to fostering an inclusive, accessible environment, where all employees feel valued, respected and supported throughout the recruitment and employment process. If you require accommodation, we will work with you to meet your needs.