Mortgage Funder

Full time| Junior Level | Reports to the Vice-President and Chief Credit Officer

Position Summary

The Mortgage Funder works with an extensive portfolio of commercial and residential properties across Canada. The Mortgage Funder gains and utilizes knowledge of the commercial and residential mortgage industry, conditions management, regulatory compliance, and sound decision-making skills to fund mortgages which have been originated through the broker network.

The Mortgage Funder knows the mortgage operation process inside and out, playing a key role in analyzing system configurations and business rules, understanding the needs of the Operations Team, and designing solutions to meet business requirements while following best practices.

Key Responsibilities

• Comparison and analysis of documentations received against agreed-to terms contained in documentation, such as a commitment letter using FCT portal.
• Ensure service standards are attained for reviewing and processing files in accordance with Company policies and procedures.
• Receipt and review of a wide variety of mortgage loan-related documentation.
• Liaise with Brokers, Borrowers, and investors to ensure that all supporting documents and pre-funding conditions have been received and satisfied prior to advancing funds.
• Instruct and liaise with third party partners, including, but not limited to, Insurance Consultants, Solicitors, and Quantity Surveyors.
• Review draft and final legal documents.
• Coordinate and manage all Anti-Money Laundering (AML) documents.
• Accountable for all mortgage transactions as assigned.
• Coordinate closing processes with the applicable investor, ensuring that all investor requirements have been met and investor approval has been received.
• Coordinate loan funding with credit and servicing departments.
• Coordinate locking of the interest rate, ensuring that all pre-rate lock conditions have been satisfied and investor requirements regarding timing of rate lock are met.
• Ensure compliance with policies and procedures, legal, ethical, privacy, and regulatory requirements.
• Maintain funding status on in-house database system.
• Conduct post funding reviews and resolve open post-funding issues as directed.
• Requisition mortgage funds within established policy.
• Manage the Bank’s mortgage portfolio. Process payment collection for delinquency loans.
• Process mortgage payouts and prepayment requests.
• Maintain a working knowledge of the mortgage policies and procedures and company policies and procedures.
• Identify and recommend methods to improve efficiencies within the Team.

Requirements

• You engage with purpose, sound judgement, and professionalism to find the right solutions. You go the extra mile because it’s the right thing to do.
• You’re passionate about people. You like to build relationships and trust through respect, accountability, and authenticity.
• As a professional, you have 5+ years of experience in a mortgage administration role within a financial institution.
• You have a proven ability to read, analyze, and understand complex documentation. You are able to maintain a low error rate under high work volume and short deadlines, using time management skills, and a high level of detail orientation.
• You have strong communication skills, both verbal and written, including the ability to challenge others with diplomacy and tact when appropriate.
• You are proficient in using Microsoft Office, and experience with Underwriting platforms (LMS, Fundmore, etc).

What You Need to Know

At WealthONE, our people are our greatest asset. You’ll become part of a diverse and growing team that acknowledges everyone’s unique talents to do what’s right for the client, and to do it well. As part of our team, you will:

• Thrive: Benefit from an open and approachable culture that provides the flexibility and support you need to integrate your life at work and at home.
• Connect: Work in a place that fosters creativity and collaboration.
• Develop: Apply your skills and grow your career in a young, fast-growing environment.
• Prosper: Share in our collective success with a competitive salary, incentive pay, and excellent health benefits program.

WealthONE is an equal opportunity employer committed to creating an inclusive environment where all team members and clients feel like they belong.

While we are based in Toronto, however this role can be conducted from any location across Canada. Our preference is for the incumbent to be Toronto based as work in the Toronto Head Office may be required. You also need to be legally eligible to work in Canada.

To learn more, please visit us at Wealth One Bank of Canada - About Us