Senior Mortgage Underwriter - RFA Mortgage Corporation

RFA•Toronto, ON

3d•Hybrid

About The Position

RFA Mortgage Corporation, a division of RFA (Realty Financial Advisors), specializes in Prime lending (Insured, Insurable and Uninsurable). Our goal is to be a long-term leader in the residential lending market by offering more than just competitive rates and compensation. At RFA Mortgage Corporation, we focus on delivering a unique value proposition in the Prime mortgage space, committed to innovation and exceptional service to meet a diverse range of borrower needs. In this role, the Senior Mortgage Underwriter will review, process and approve mortgage applications in a timely and effective manner resulting in the achievement of RFA Mortgage Corporations overall residential mortgage underwriting policy and applicable guidelines.

Requirements

Must have previous residential mortgage underwriting experience
Detailed working knowledge of real estate and covenant assessments, legislation and land title systems in all provinces
Detailed working knowledge of principles of credit analysis and risk management
Understanding of credit scoring
Ability to understand financial statements and assess financial viability
Previous experience working with mortgage brokers or an external mortgage sales force
Working knowledge of PC software in a Windows environment
An ability to handle pressure caused by high 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 accurate decisions.

Nice To Haves

Undergraduate university degree is an asset

Responsibilities

Underwrite to highest credit quality standards as defined by the Residential Mortgage Underwriter Policy.
Negotiate, approve, recommend, and decline applications within RFA Mortgage Corporation’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.
Make sound credit decisions that align with RFA Mortgage Corporation’s values and risk tolerance.
Follow up on outstanding conditions/documents.
Review and verify accuracy of required documentation related to the mortgage commitment. Requirements include Income validation, down-payment validation, collateral validation, title, mortgage statements, tax statements, etc.
Modify mortgage applications related to changes in documentation reviewed; submitting to Mortgage Insurer(s) where required.
Identify and escalate instances of suspected fraud to Senior Management 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 originators via updates specific to the application from fulfillment through to closing.
Build and maintain exceptional customer service levels.
Responsible for managing and maintaining an assigned pipeline to ensure timely progression, accuracy, and completion of files.
Identify risks and mitigate according to RFA Mortgage Corporation risk tolerance
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.
Collaborate and nurture relationship with Fulfilment Specialists and support Management when required.
Build relationships with mortgage brokers and related business partners.
Keep up to date with evolving internal and external policies and procedures
Complete all regulatory and compliance and risk management training.
Comply with requirements as set by the Compliance function and external regulatory bodies in all instances.
Act in accordance with the company’s Board-approved risk appetite and tolerance for risk in all instances.
Meeting and maintaining a set compliance percentage on monthly internal & external audits