Mortgage Underwriter

We are looking for multiple Mortgage Underwriters for one of the financial institution . Role will be fully remote after the initial 4-5 week training on site in either Montreal, MUST BE BILINGUAL (French & English).

we are looking for Junior with 1-3 years of experience

Intermediate with 3-5 years of experience

Senior with 5-7 years of experience or more

Key responsibilities:

Compliance

– You will participate in the loan administration processes in place by conducting renewals and annual reviews of various credits. Comply with all applicable industry policies, guidelines and controls, including ensuring that all mandatory training is completed.

Risk Management

– You will gather, review and critically assess third-party due diligence reports on a property, such as property assessments, environmental assessments, property fitness assessments and construction cost consultant reports.

• Review mortgage loan applications, collected supporting documents, and financial information provided by borrowers to assess loan eligibility

• Assess the completeness, accuracy, and validity of the application package, ensuring all necessary forms are properly completed.

• Ensure strict adherence to regulatory guidelines governing mortgage lending. Verify compliance with internal policies and quality standards throughout the underwriting process.

• Cultivate strong client relationships by providing personalized service, addressing inquiries, and maintaining regular communication throughout the mortgage process.

• Collaborate closely with mortgage brokers to clarify and obtain any missing or additional information necessary for loan approval.

• Provide clear and concise explanations of underwriting decisions, requirements, and conditions to clients involved in the loan process.

• Stay up-to-date with industry trends, regulatory changes, and underwriting guidelines to maintain a high level of proficiency and ensure compliance

• The role evaluates residential mortgage applications following the Bank’s credit policies and guidelines, and makes decisions to approve or decline mortgage loan applications. It liaises with various internal (sales, loan documentation and funding teams) and external partners (mortgage brokers and appraisers) during the mortgage evaluation, loan fulfillment and funding processes. The role is expected to make credit decisions that ensure mortgage loans are secure and high quality standards are adhered to.

• Escalate any suspicious transactions to Management, the Chief Risk Officer (CRO) and/or the Chief Anti-Money Laundering Officer (CAMLO)

Qualifications:

• Profound knowledge in mortgage products, industry terminology and financial statements

• Strong understanding of mortgage loan underwriting principles, guidelines, and regulatory requirements.

• Progressive underwriting experience in personal lending (ideally residential mortgages) at a Canadian financial institution

• Analyze and submit recommendations regarding credit applications which exceed their authorized limit

• Analyze and submit (where applicable) applications requiring Mortgage Insurer approval, in compliance with guidelines

• Verify data and information on mortgage applications and credit bureaus to ensure accuracy

• Ensure the attainment of service standards for processing applications in accordance with company policies and procedures

• Resolve any escalated credit issues, reply to internal and external client queries, and communicate credit decisions

• Keeps up to date on applicable legislation, as well as on the company’s policies, programs, procedures, and mortgage insurer policies

• Previous experience at a financial institution or related

• Ability to speak fluently in another language

• Must have previous residential Mortgage or any mortgage experience

• Previous experience developing and maintaining positive broker relationships

• Detailed working knowledge of principles of residential mortgage underwriting and risk management, as well as real estate markets nationally

• Demonstrated ability to flourish in a high-volume environment

• An ability to quickly assess and make accurate decisions

• Commitment to grow as an individual by constantly learning and staying on top of industry changes

• Positive attitude and commitment to drive company growth with exceptional customer service, strong team collaboration and sound credit decision-making