Residential Mortgage Underwriter

4 weeks ago

Vancouver, British Columbia, Canada EQ Bank | Equitable Bank Full time
Join a Challenger
Being a traditional bank just isn't our thing. We are big believers in innovating the banking experience because we believe Canadians deserve better options, and we challenge ourselves and our teams to creatively transform what's possible in banking. Our team is made up of inquisitive and agile minds that find smarter ways of doing things. If you're not afraid of taking on big challenges and redefining the future, you belong with us. You'll get to work with people who will encourage you to reach new heights. We like to keep things fun, ask questions and learn together.
We are a big (and growing) family. Overall we serve more than 670,000 people across Canada through Equitable Bank, Canada's Challenger Bank, and have been around for more than 50 years. Equitable Bank's wholly-owned subsidiary, Concentra Bank, supports credit unions across Canada that serve more than six million members. Together we have over $125 billion in combined assets under management and administration, with a clear mandate to drive change in Canadian banking to enrich people's lives. Our customers have named our EQ Bank digital platform (eqbank.ca ) one of the top banks in Canada on the Forbes World's Best Banks list since 2021.
The Work
The Mortgage Underwriter is responsible for negotiating, recommending, declining, and, in some instances, approving mortgage applications within established guidelines, to be secured by new or existing real estate. This must be done as efficiently as possible while exercising sound lending judgment and without compromising service and profitability.
The core parts of your role would be to:
  • On a daily basis, review received mortgage applications along with supporting documentation and negotiate terms with the mortgage broker, decline the applications, recommend the applications for approval and in some instances, approve the applications. Ensure that approved deals close as scheduled and as efficiently as possible by following up on outstanding conditions/documents and ensuring compliance with established guidelines. (50%)
  • Follow up with brokers on a daily basis on issued mortgage commitments to ensure the efficient closing of mortgage files. (20%)
  • On a daily basis provide the highest level of internal and external customer service while fielding mortgage broker inquiries and maintaining broker relationships. (20%)
  • On a daily basis, provide underwriting expertise to mortgage brokers, clients and co-workers and maintain an up to date knowledge of company policies, procedures and products. (10%)

Let's Talk About You
  • Sound thinker with the ability to multi-task
  • Excellent attention to detail
  • Sound knowledge of AML & ATF practices
  • Established and meticulous organizational skills
  • Excellent time management, analytical and problem solving skills
  • Ability to make decisions under pressure
  • Proven ability to thrive in a constantly changing environment and to perform well in a high volume, high intensity environment
  • Highly developed verbal and written communication skills with the ability to respond in a clear, concise and professional manner
  • Displays pride in providing superb customer service
  • 2+ years' mortgage experience in the alternative mortgage market
  • Proficiency in MS Office (mainly MS Word and Excel)
  • Completion of a post-secondary degree preferably in a financial field
  • Knowledge of fraud risk in the mortgage industry and the ability to address concerns relating to suspected misrepresentation is required

Job Complexities / Thinking Challenges:
  • The incumbent is responsible for making sound lending recommendations, often under constrained timelines, without compromising credit risk and profitability. The incumbent should be prepared to manage files of greater complexity at times. The incumbent is required to follow corporate policies and procedures in order to work through files and rationalize the recommendations or decisions made.
  • There are designated authorities and various levels of management reviewing recommendations and approving the mortgage applications submitted for approval

What we offer (For full-time permanent roles)
Competitive discretionary bonus
Market leading RRSP match program

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