Mortgage Funder, Third Party Residential Underwriting – BMO Broker Edge (BMBE)

Mortgage Funder, Third Party Residential Underwriting – BMO Broker Edge (BMBE)

Tuesday, January 28, 2025

First National is proud to be an equal opportunity employer and is committed to diversity and inclusion regardless of race, color, religion, national origin, age, gender identity, physical or mental disability, sexual orientation and any other category protected by law.

First National supports requests for accommodation from applicants with disabilities; please contact Human Resources at accessibility@firstnational.ca should you need an accommodation at any point in the recruitment process.

We are hiring a Mortgage Funder, Third Party Residential Underwriting – BMO Broker Edge (BMBE)

Reporting To:

Manager, Third Party Residential Underwriting – BMBE

Full-Time/Part- Time:

Full-time

Posting Date:

January 28, 2025

Closing Date:

January 31, 2025

Hours of Work:

8:30 a.m. – 5:00 p.m.

Grade:

6.7

Office Location:

Downtown, Toronto

Great location! Steps away from the main public transit station

What we offer:

Highly competitive compensation package which includes, base salary, bonus, benefits, and career advancement opportunities!

*Eligibility for benefits is dependent on the terms of employment

The Opportunity:

The Third-party Residential Underwriting Division, as a Division of First National Financial provides underwriting expertise and services on behalf of other financial institutions to the Canadian Mortgage Broker channel.

The Residential Mortgage Funder is responsible for instructing, advancing and closing mortgage files.

How you will contribute:

1. Check with law society for entitlement of solicitor
2. Check information to ensure accuracy, i.e. correct lender, CMHC/GE approval
3. Contact solicitor to confirm that he/she is acting on mortgagor’s behalf
4. Prepare and send applicable instructional package to solicitor along with relevant documents
5. Follow up with solicitor to obtain advance request
6. Organize mortgage file in correct order
7. Check the request for funds from the solicitor
8. Send the mortgage advance sheet to the accounting department
9. Send the solicitor a list of outstanding conditions, mortgage commitment and mortgage advance breakdown
10. Contact solicitor when funds are ready
11. Follow up with solicitor prior to closing
12. Contact solicitor to advise that funds can be released
13. Ensure that all conditions have been met, all documentation has been received and that file is complete on the day of closing
14. Close files in the system and send to accounting department
15. Review solicitor mortgage documentation to ensure it corresponds to the terms of the commitment and is in compliance with established regulatory and company guidelines and policies
16. Escalate any documentation issues to the Mortgage Underwriter and/or Manager for review
17. Coordinate with mortgage accounting for the release of mortgage funds on a timely basis
18. Respond to all inquiries within the established turnaround times
19. Adhere to policy/procedures to ensure AML and Quality Assurance requirements are met

Skills and Attributes:

1. Strong communication skills, verbal and written
2. Proven organizational skills and demonstrated ability to prioritize and multi-task
3. Demonstrated ability to work under pressure and maintain a calm focus during hectic periods
4. Post-secondary education and/or equivalent work experience preferred
5. Competency in MS Office; capacity to learn new technologies/systems
6. Completion of Mortgage Agent Course and/or Financial Services Regulatory Authority(FSRA)License an asset

Education/Certification/Experience Requirements:

1. Completed post-secondary education or equivalent work experience required
2. Previous experience within Mortgage industry an asset
3. Completion of Mortgage Agent Course and/or FICOM License an asset
4. Working knowledge of PC software in a Windows environment required

Working Environment and Physical Demands Analysis:

1. Periods of high volume with tight timelines
2. Long periods of stationary position/sitting
3. Prolonged periods of repetitive movement (i.e. using a keyboard and mouse)
4. Long periods of time in viewing a computer screen
5. Multi-tasking may include speaking to customers on a telephone call while looking up information on a computer program.

The team you’ll join:

Founded in 1988, First National is one of Canada’s largest non-bank lenders. We provide residential mortgages exclusively through the mortgage broker channel and we are Canada’s largest commercial mortgage lender.

First National has been consistently recognized as a great place to work and we are proud that our employee engagement feedback is higher than our industry partners.

We would like to thank all applications for their interest in this existing vacancy, but only candidates selected for an interview will be contacted.