Ivy Glen Dr, Vaughan, ON L6A, Canada
Job Title: Senior Underwriter Location : Vaughan, ON Salary $80,000 ( Bonus structure, benefits) As a Senior Underwriter who has experience with Real Estate Agents and the mortgage industry you will play a critical role in evaluating mortgage loan applications from clients referred by real estate agents and other financial referral sources. Your expertise in underwriting guidelines, risk assessment, and knowledge of the real estate industry will enable you to make informed decisions, ensure compliance, and maintain strong relationships with real estate agents. You will collaborate closely with the corporate development manager, senior broker, other underwriters, mortgage intake officers, and real estate professionals to evaluate applicant information, analyze financial documents, and provide timely and accurate underwriting decisions. Responsibilities: Loan Application Evaluation: Review and analyse mortgage loan applications referred by real estate agents to assess borrower eligibility, creditworthiness, and adherence to underwriting guidelines.
Evaluate applicant information, including income, employment history, credit reports, and debt-to-income ratios, to determine loan risk levels. Verify accuracy and completeness of loan application data and supporting documentation. Risk Assessment: Assess property appraisal reports, title reports, and other relevant documents to evaluate collateral value and identify potential risks. Utilize underwriting guidelines and industry best practices to evaluate loan risk and make informed decisions on loan approvals, conditions, or rejections.
Identify and mitigate potential fraud, misrepresentation, or other risks associated with loan applications. Collaboration with Real Estate Agents: Build and maintain strong relationships with real estate agents, acting as a trusted resource for their mortgage loan inquiries and needs. Communicate effectively with real estate agents, providing updates on loan applications, explaining underwriting decisions, and addressing any concerns or questions. Collaborate with real estate agents to obtain additional information or clarification on loan applications, ensuring smooth and timely processing.
Compliance and Documentation: Ensure compliance with federal, state, and local regulations, as well as internal policies and procedures. Evaluate loan files for adherence to regulatory requirements, including RESPA, TILA, and fair lending practices. Document underwriting decisions, loan conditions, and any required remedial actions accurately and thoroughly. Quality Assurance and Audit: Participate in quality control reviews and audits to ensure accuracy, consistency, and compliance with underwriting standards.
Stay up to date with industry trends, regulatory changes, and underwriting guidelines, implementing necessary updates to processes and procedures. Training and Support: Provide guidance and support to loan officers and processors regarding real estate agent-specific underwriting requirements and best practices. Conduct training sessions or workshops for real estate agents to enhance their understanding of the mortgage underwriting process and requirements. Requirements: Bachelor’s degree in finance, business administration, or a related field or proven Equivalent work experience with a mortgage brokerage may be considered.
Proven minimum 5 years experience in the broker channel Comprehensive knowledge of mortgage loan products, industry practices, and documentation standards. Familiarity with Boss or Filogix loan origination systems and underwriting software. Strong analytical and problem-solving skills to assess loan applications and make informed decisions. Excellent attention to detail and ability to work accurately under pressure.
Effective written and verbal communication skills to interact with real estate agents and convey underwriting decisions clearly. Excellent in customer service and clear communication within the team and clients Experience within sales calls and sales training is an asset. 2 years of Banking experience is an asset but not required. Experience with CRM systems is an asset but not required. Strong Time management and efficient to ensure deals are handed in with FIRST TIME RIGHT Ability to build and maintain strong relationships with real estate agents, demonstrating professionalism and providing exceptional customer service.
Knowledge of regulatory compliance, including FSRA, MPAC, and fair lending practices. Job Type: Full-time Salary: $80,000.00 per year
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