Mortgage Funding Administrator
Summary
- Position: Mortgage Funding Administrator
- Position type: Full time
- Location: Toronto
- Date posted: 2023-4-19
- Department: Credit
- Reporting to: VP & Chief Credit Officer
- Direct reports: N/A
About WealthONE
Wealth One Bank of Canada is a federally chartered Schedule I Bank and is regulated by the Office of the Superintendent of Financial Institutions (OSFI). Opened in 2016, WealthONE specializes in borrowing solutions suitable for self-employed persons, investors with multiple properties, high net worth individuals, newcomers to Canada and those who have foreign income. Our founders are committed to building a bank to provide a tailored suite of financial products and solutions designed to specifically satisfy the needs of customers in the Chinese Canadian community, as well as all Canadians who share similar financial needs. WealthONE is an equal opportunity employer committed to creating an inclusive environment where all team members and clients feel like they belong.
Position summary
WealthONE is seeking to add a Mortgage Funding Administrator to our Credit Team. Reporting to the VP & Chief Credit Officer, the Mortgage Funding Administrator will work with an extensive portfolio of commercial and residential properties across Canada. You will gain and utilize 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 our broker network. To be successful in this demanding role, you must be extremely organized with a high level of attention to detail and the ability to multi-task under strict time constraints. A proven track record in mortgage administration in the commercial and residential, and experience working within the financial services market both at the domestic and international level is a plus.
More about us
Key responsibilities
The Mortgage Funding Administrator knows the mortgage operation process inside and out, playing a key role in analyzing system configurations and business rules, understanding the needs of the Operation Team, and designing solutions to meet business requirements while following best practices. Specifically, you will be responsible for:
- Comparison and analysis of documentation received, against agreed-to terms contained in documentation such as a commitment letter using FCT portal.
- Ensure service standard 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
- Liaising with Brokers, Borrowers and Investors to ensure that all supporting documents and pre-funding conditions have been received and satisfied prior to advancing funds
- Instructing and liaising with third party partners including but not limited to; Insurance Consultants, Solicitors, and Quantity Surveyors
- Reviewing draft and final legal documents.
- Coordinating and managing all Anti-Money Laundering (AML) documents.
- Accountable for all mortgage transactions as assigned
- Coordinating closing processes with the applicable investor, ensuring that all investor requirements have been met and investor approval has been received.
- Coordinating loan funding with credit and servicing departments.
- Coordinating 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.
- Ensuring compliance with policies and procedures, legal, ethical, privacy and regulatory requirements.
- Maintaining funding status on in-house database system
- Conducting post funding reviews and resolve open post-funding issues as directed.Requisition mortgage funds within established policy
- Managing the Banks’ mortgage portfolios. Process payment collection for delinquency loans.
- Processing mortgage payouts and prepayment requests.
- Maintaining a working knowledge of the mortgage policies and procedures and company policies and procedures.
- Identify and recommend methods to improve efficiencies within the Team
Candidate Qualifications (Knowledge, Skills & Experience)
- Degree or diploma in Business, Office Administration or equivalent is preferred
- 5 or more years progressive experience in mortgage administration with a financial institution
- Proven ability to read, analyze and understand complex documentation
- Proven communication skills, both verbal & written, including the ability to challenge others with diplomacy and tact when appropriate
- Proven ability to maintain a low error rate under high work volume and short deadlines, using time management skills and a high level of detail orientation
- Ability to develop and maintain a positive working relationship with a variety of internal and external stakeholders
- High level of self-motivation, with a demonstrated ability to work both independently and as part of a tight-knit team, including the ability and willingness to take direction when necessary
- Proven organizational skills and demonstrated ability to prioritize competing requests under pressure
- Excellent analytical, judgement and decision-making skills
- Creative and analytical thinker who is self-driven and capable of working in a fast paced, high-change environment, while maintaining a high level of quality in your work
- Proficiency with Microsoft Office Suite including Outlook, Word and Excel.
Who you are
- You put our clients and partners first. 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.
- You are an industry professional. As an experienced underwriter, you have detailed knowledge of mortgage lending documentation, policies, fulfillment, and quality assurance processes and are proficient with Microsoft Office suite of solutions.
- You have what it takes. Attention to detail and discretion when dealing with confidential and sensitive matters along with being highly organized and able to prioritize and manage multiple tasks in a fast-paced team environment are in your DNA.
What WealthOne can offer you:
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, banking and health benefits program.
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