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Residential Mortgage Underwriter

Equitable Bank, 30 St. Clair Ave West, Suite 700, Toronto, Ontario, Canada Req #1035
Tuesday, September 15, 2020

Canada's Challenger Bank™

Equitable Bank manages over $34 billion in assets and is a wholly-owned subsidiary of Equitable Group Inc. It was founded in 1970 as The Equitable Trust Company and has become Canada’s ninth largest Schedule I bank. Equitable Bank offers a diverse suite of residential lending, commercial lending, and savings solutions, including high-interest savings products and GICs.

At Equitable, we have no doubt that financial services are changing. Consumers increasingly prefer to interact remotely through digital channels and are less likely to visit brick and mortar locations. That’s why we launched EQ Bank in 2016. Its approach to simple and convenient banking makes it a strong contender in the industry. We believe there’s an opportunity for something different, to provide better service and a better deal for our customers through digital banking.

Job Title:            Residential Mortgage Underwriter                                      

Department:     Single Family Residential Mortgage Department

Reports To:        Manager/Senior Manager, Residential Mortgage Underwriting


 

Purpose of Job

 

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.

 

Main Activities:

 

  • 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%)

 

Knowledge/Skill Requirements:

 

  • 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
Equitable Bank is an equal opportunity employer and encourages applications from all qualified candidates.  Accommodations are available on request for candidates taking part in all aspects of the selection process. All candidates considered for hire must successfully pass a criminal background check and credit check to qualify for hire. While we appreciate your interest in applying, an Equitable recruiter will only contact leading candidates whose skills and qualifications closely match the requirements of the position

Other details

  • Pay Type Salary
  • Equitable Bank, 30 St. Clair Ave West, Suite 700, Toronto, Ontario, Canada