Mortgage New Job Canada

  • Full Time
  • Canada

RFA Canada

Senior Mortgage Underwriter

Job Details

Hiring Organization RFA Canada
Post Name Senior Mortgage Underwriter
Qualification Any Graduate
Industry Private
Employment Type Full-Time
Work Hours 8 Hours
Salary CAD 40 To CAD 50 Per Hour
Location  Toronto, Ontario, Canada M4B 1B3

Job Description

RFA’s residential mortgage lending business is operated by RFA Mortgage Corporation and RFA Bank of Canada, a federally regulated Schedule I Bank. RFA Mortgage Corporation specializes in Prime lending (Insured, Insurable, Uninsurable), while RFA Bank of Canada is a balance sheet-based Alternative mortgage lender (Alt-A and Blending). Combined, RFA offers mortgage brokers a one-stop shop with our full suite of competitive Prime and Alternative mortgages.
RFA’s strategic vision is to be a long-term leader in the residential lending segment by offering a value proposition beyond just rate and compensation. Through building a competitive broker experience and solutions-oriented product suite, RFA’s goal is to be recognized and recommended by our mortgage broker partners, mortgagors, and other strategic partners, for our financing solutions and broker/client experience.

The Opportunity

The successful candidate will work in a fast-paced, broker-focused environment with their primary responsibility to provide quality credit decisions on Alternative Single-Family Residential mortgages. The senior underwriter role is responsible for the management of their portfolio and ensuring SLAs are met in accordance with RFA’s standards for residential lending.

Customer Results

  • Make prudent underwriting decisions based on the credit quality standards as defined by the Residential Mortgage Underwriting Policy.
  • Negotiate, approve, recommend, and decline applications within RFA’s Residential Underwriting Guidelines, including without limitation:
  • Review of credit information
  • Review of real estate appraisals for consistency, with prevailing market conditions
  • Terms and conditions on all mortgage applications
  • Review loan pricing based on risk objectives and thresholds set by RFA Bank.
  • Prepare and issue mortgage commitments within assigned SLAs.
  • Identify and escalate instances of suspected fraud to Senior Management, AML/Compliance, and Quality Assurance.
  • Maintain service levels in an environment of high volumes and the competing demands of customers and employees.
  • Maintain direct contact with mortgage brokers via updates specific to the application from fulfillment through to closing.
  • Provide guidance and mentorship to mortgage fulfillment officers to ensure documentation meets bank requirements.
  • Build and maintain exceptional customer service levels for our broker partners.

Operational Efficiency and Risk Management

  • Manage work volumes to meet short timelines with a high level of quality.
  • Evaluate real estate and associated risks in a volatile market.
  • Handle difficult interactions and unpopular decisions.
  • Build relationships with mortgage brokers and related business partners.
  • Keep up to date with evolving policies and procedures including Canadian housing market trends.

What you can bring to RFA:

  • Must have previous residential mortgage underwriting experience, ideally 3+ years in the industry, with detailed working knowledge of real estate and covenant assessments.
  • An undergraduate university degree is an asset
  • Detailed working knowledge of principles of credit analysis and risk management
  • Working knowledge of PC software in a Windows environment

Benefits of Working at RFA:

  • Health & Dental Care
  • Vision Care
  • RRSP Match
  • Vacation & Personal Days
  • Hybrid working environment

Are you the Right Candidate?

  • Demonstrated ability to assess risk in a fluctuating real estate market
  • Building productive relationships with mortgage brokers, internal mortgage agents, and related business partners, understanding the needs that drive a commissioned sales force
  • Demonstrates the ability to make and document decisions that consider all implications and proactive management of risk
  • Demonstration of solid negotiation and problem-solving skills
  • Ability to adapt to changing volumes and tight turnaround times.
  • A very strong customer focus is required with an ability to ensure the customer experience is a positive one
  • An ability to make quick decisions without compromising underwriting quality.

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