Residential Mortgage Underwriter
Canada's Challenger Bank™If you're looking for a workplace where employees are passionate about their work environment, then read on. What sets Equitable Bank apart from other companies is its culture. We celebrate and embrace the fabric of diversity, the employee engagement process and collectively take pride in our business successes. Our commitment to our customers, our partners and our employees creates a stimulating and exciting atmosphere that generates innovative products and outstanding service quality.
Equitable Bank is Canada's ninth largest independent Schedule I bank, serving Canadians coast to coast. It offers a diverse suite of residential lending, commercial lending and savings solutions, including high-interest savings products and GICs. Through its proven branchless approach and customer service focus, Equitable Bank has grown to approximately $31 billion in assets under management. In 2016, Equitable Bank launched a digital banking operation, EQ Bank, and introduced the EQ Bank Savings Plus Account. Equitable Bank currently employs over 750 employees across the country.
Within Equitable Bank's Core Lending business, Single Family Lending Services funds mortgages for owner-occupied and investment properties across Canada, while Commercial Lending Services provides mortgages on a variety of commercial properties on a national basis.Equitable's Securitization Financing business originates and securitizes insured residential mortgages under the Canada Mortgage and Housing ("CMHC") administered National Housing Act.Equitable Bank also offers a range of deposit products including short-term, long-term and Cashable GICs, available in non-registered or Tax Free Savings Account ("TFSA") across Canada. And it offers a High Interest Savings Account, available from authorized investment advisors through the FundServ network.
Equitable Bank is a growing Canadian financial services business and a wholly owned subsidiary of Equitable Group. It was founded in 1970 as The Equitable Trust Company.
Job Title: Residential Mortgage Underwriter, Calgary, AB
Department: Single Family Residential Mortgage Department
Reports To: Senior Manager, Residential Mortgage Underwriting
Purpose of Job
The Mortgage Underwriter is responsible for negotiating, recommending, declining, and, in some instances, approving mortgage applications within established guidelines, to be secured by new or existing real estate. This must be done as efficiently as possible while exercising sound lending judgment and without compromising service and profitability.
- On a daily basis, review received mortgage applications along with supporting documentation and negotiate terms with the mortgage broker, decline the applications, recommend the applications for approval and in some instances, approve the applications. Ensure that approved deals close as scheduled and as efficiently as possible by following up on outstanding conditions/documents and ensuring compliance with established guidelines. (50%)
- Follow up with brokers on a daily basis on issued mortgage commitments to ensure the efficient closing of mortgage files. (20%)
- On a daily basis provide the highest level of internal and external customer service while fielding mortgage broker inquiries and maintaining broker relationships. (20%)
- On a daily basis, provide underwriting expertise to mortgage brokers, clients and co-workers and maintain an up to date knowledge of company policies, procedures and products. (10%)
- Sound thinker with the ability to multi-task
- Excellent attention to detail
- Sound knowledge of AML & ATF practices
- Established and meticulous organizational skills
- Excellent time management, analytical and problem solving skills
- Ability to make decisions under pressure
- Proven ability to thrive in a constantly changing environment and to perform well in a high volume, high intensity environment
- Highly developed verbal and written communication skills with the ability to respond in a clear, concise and professional manner
- Displays pride in providing superb customer service
- 2+ years’ mortgage experience in the alternative mortgage market
- Proficiency in MS Office (mainly MS Word and Excel)
- Completion of a post-secondary degree preferably in a financial field
- Knowledge of fraud risk in the mortgage industry and the ability to address concerns relating to suspected misrepresentation is required
Equitable Bank is an equal opportunity employer and encourages applications from all qualified candidates. Accommodations are available on request for candidates taking part in all aspects of the selection process. All candidates considered for hire must successfully pass a criminal background check and credit check to qualify for hire. While we appreciate your interest in applying, an Equitable recruiter will only contact leading candidates whose skills and qualifications closely match the requirements of the position.
- Pay Type Salary
- Equitable Bank, Calgary, Alberta, Canada