Commercial Underwriter

Fairstone Bank•Toronto, ON

48d•$63,000 - $75,000•Hybrid

About The Position

Who we are: Fairstone Bank and its family of brands are united in delivering innovative, accessible and reliable financial solutions that enable Canadians to reach their goals. Over the years, our brand family has grown. In 2024, Home Trust Company, Home Bank and Oaken Financial became part of the Fairstone Bank family of brands, alongside Fairstone, EdenPark and Fig. Together, we are the leading alternative lending bank in Canada. We have the collective experience and expertise to better serve our customers and foster our partners’ growth. With a diverse suite of products like residential and commercial mortgages, consumer deposits and GICs, credit cards, retail and automobile financing, personal loans and digital lending. We offer financial solutions tailored to all Canadians, including newcomers, small-business owners, smart investors and savvy consumers. Backed by nearly a century of lending experience through its legacy companies, Fairstone Bank and its brand family are proud to be Canada’s leading alternative lending bank. About the role: Risk and Compliance Receive, review, analyse and verify mortgage applications for completeness, accuracy, suitability and risk to ensure compliance with all aspects of Home Trust Company’s underwriting policies, procedures and guidelines per delegated authority matrices Adhere to applicable compliance obligations including Privacy, Anti-Money Laundering/Anti-Terrorist Financing and internal Anti-Fraud Policy requirements File Unusual Transaction Reports as applicable to fulfil individual employee obligations to detect and deter financial crimes activity. Maintain consistent, objective and sound risk assessments in a high volume, service-oriented environment File Management Make prudent credit decisions on complex mortgage files Negotiate loan terms according to assessed risk and to meet the interests of the client and Home Trust Prepare files and recommend mortgage deals for final approval Maintain accurate information and detailed notes on applications, prepare and issue conditional mortgage commitments outlining all conditions that must be met to Home Trust’s satisfaction Issue mortgage commitment according to negotiated and approved terms Communication Adhere to defined Service Level Agreement in acknowledging applications and following up on additional required information Work effectively with all internal business partners to improve underwriting systems to maximize effectiveness and achieve excellence Remain current on latest developments within industry and market trends to secure competitive advantage

Requirements

Post secondary degree or diploma required (University degree preferred) in related area
3-5 years with mortgage lending
Strong understanding of commercial mortgage products
Proficient in adjudicating credit, reviewing and assessing third party reports

Nice To Haves

Preference will be given to those candidates with previous experience making direct submissions to CMHC Multi Res Team

Responsibilities

Receive, review, analyse and verify mortgage applications for completeness, accuracy, suitability and risk to ensure compliance with all aspects of Home Trust Company’s underwriting policies, procedures and guidelines per delegated authority matrices
Adhere to applicable compliance obligations including Privacy, Anti-Money Laundering/Anti-Terrorist Financing and internal Anti-Fraud Policy requirements
File Unusual Transaction Reports as applicable to fulfil individual employee obligations to detect and deter financial crimes activity.
Maintain consistent, objective and sound risk assessments in a high volume, service-oriented environment
Make prudent credit decisions on complex mortgage files
Negotiate loan terms according to assessed risk and to meet the interests of the client and Home Trust
Prepare files and recommend mortgage deals for final approval
Maintain accurate information and detailed notes on applications, prepare and issue conditional mortgage commitments outlining all conditions that must be met to Home Trust’s satisfaction
Issue mortgage commitment according to negotiated and approved terms
Adhere to defined Service Level Agreement in acknowledging applications and following up on additional required information
Work effectively with all internal business partners to improve underwriting systems to maximize effectiveness and achieve excellence
Remain current on latest developments within industry and market trends to secure competitive advantage

Benefits

Award-Winning Culture: We’re proud to be recognized as a Great Place to Work Canada 2025 and one of Montreal’s Top Employers 2025 by Canada’s Top 100 Employers.
Work-Life Balance: Enjoy flexibility with our hybrid work model designed to support your lifestyle.
Time to Recharge: Generous vacation based on your role, statutory holidays, plus 6 wellness days to prioritize your well-being.
Compensation Package: Competitive base salary plus an annual incentive bonus tied to performance.
Comprehensive Benefits: Robust health and dental coverage through Manulife, as well as virtual healthcare through Dialogue.
Future-Ready Savings: Group Retirement Savings Plan with up to 7% employer match.
Exclusive Perks: Discounts from top retailers via WorkPerks, plus location-based perks like gym memberships and Toronto Bike Share.
On-Site Fitness: Gym access at our London and Montreal offices.
Continuous Growth: Education Assistance Program and Fairstone Academy for training and skill development.
Family Support: Parental leave top-up program to help you during life’s big moments.
Community Impact: One paid volunteer day to give back to causes that matter to you.