National Underwriter

WHO WE ARE

HomeEquity Bank is a Schedule 1 Canadian chartered bank and the leading national provider of reverse mortgages, with a growing portfolio. As the only bank solely dedicated to serving homeowners 55 and up, we’re passionate about helping Canadian homeowners live retirement on their terms. We live that commitment every day, witha range of reverse mortgage solutions that include our flagship CHIP Reverse Mortgage product.

Our Values, Our Passion

At HomeEquity Bank, our values drive and inspire our actions with our customers, our partners and each other.

Courage to Act. Do the Right Thing

One Team. One Vision

Think Long-Term. Ever-Evolving

POSITION SUMMARY:

Reporting to the Director, Credit and Underwriting, the National Underwriter’s main role is to evaluate residential mortgage applications following the Bank’s credit policies and guidelines. After the evaluation, the National Underwriter makes decisions to approve or decline mortgage loan applications. The National Underwriter liaises with various internal (sales, loan documentation and funding teams) and external (appraisers) partners during the mortgage evaluation process and loan fulfillment and funding processes. The National Underwriter is expected to make credit decisions that ensure mortgage loans are safe and sound and that HomeEquity Bank’s standards are adhered to. These standards contribute to the high quality of HomeEquity Bank’s mortgage portfolio.

The ideal candidate must have an underwriting experience from a personal lending space with preference given to underwriting residential mortgages. The candidate possesses excellent analytical skills and attention to detail for credit evaluation and decision as well as strong oral and written communication skills to write application reviews and discuss decisions to management and internal sales partners.

The ideal candidate is results oriented and has strong organizational skills to meet deadlines. The ideal candidate has a good understanding of the residential real estate market, real estate market trends, and industry lending practices.

MAJOR ELEMENTS OF THE ROLE:

Key accountabilities of this position include:

• Evaluate mortgage applications, verify supporting documentation, review and ensure accuracy of information in the Bank’s loan system, and provide decisions on the applications or refer applications to management for approval
• Ensure a thorough evaluation and decision that complies with the Bank’s policies, guidelines and operating procedures Document clear and complete decision notes and conditions of approved applications in the Bank’s loan system
• Establish and maintain a positive and collaborative relationship with internal and external partners
• Escalate credit exceptions to Team Lead and/or Management that are outside of National Underwriter’s established authority limits
• Interact with internal business partners for collection and follow up of all required documents to satisfy the mortgage commitment conditions when required
• Review and verify accuracy of all required documents using sound due diligence and in compliance with internal policies, guidelines and procedures
• Adhere to the Bank’s established service level agreements
• Escalate any suspicious transactions to Management, the CRO and/or the CAMLO
• Action or participate in miscellaneous duties or projects as assigned

SKILLS AND EXPERIENCE REQUIRED:

• University Degree or Community College Diploma
• Minimum 3+ years of underwriting experience from personal lending at a Canadian financial institution
• Ideally, 3+ years of residential mortgage underwriting experience at a Canadian financial institution
• Excellent problem-solving and analytical skills
• Excellent attention to detail
• Ability to manage and resolve conflict
• Strong verbal and written communication skills; in both French and English (French applicable to bilingual roles)
• Ability to work independently and within a team environment
• Well organized and effective time management

WHY WORK AT HOMEEQUITY BANK?

HomeEquity Bank offers a hybrid working environment supported with a culture of flexibility – an approach that is unique to each person, and that enables both business and individual needs to be met in a mutually beneficial way.

We pride ourselves in recognizing and celebrating performance, community service, teamwork, and diversity among our employees.

A Dynamic Culture – With People at the Centre

We believe our people make all the difference; our tireless commitment to inclusivity, professional development, and employee experience has been recognized through awards including theGreater Toronto’s Top Employers 2024,Waterstone Canada's Most Admired Corporate Cultures 2022-2023, the Globe and Mail's Report on Business: Canada's Top Growing Companies 2022 (third year since 2019), Canadian's Mortgage Professional (CMP) Top Mortgage Employer 2023 for the third year in a row and Achievers Top 50 Most Engaged Workplaces 2023.

Growth and Opportunities
We provide challenging and rewarding careers in a wide variety of fields. We continuously develop and train our employees through professional growth opportunities and on-the-job training. We also encourage our employees to develop professionally and personally though a series of career developing programs including our Educational Assistance Program, designed to reimburse costs related to professional learning and development.

Celebrating Great Work and People

We believe in an environment that celebrates success, knowledge, leadership, and work that is inspired by our core values. For these reasons, we have created several programs that make it easy for our employees to say ‘great job’ to their colleagues and leaders.

From our Appreciate! Program to the High Five Award Program and President’s Award Program, we recognize professional achievement with a variety of rewards including points towards gift cards, merchandise, and travel experiences, as well as group RRSP/DPSP contributions and more.

Our Community Leadership Program recognizes employees who make a positive impact in their communities through volunteer work with a grant for their charity of choice. Additionally, we provide employees with one paid day off each year to volunteer at their favourite local charity.

The Perks

HomeEquity Bank offers a competitive total rewards package that includes:

• Extended health and dental benefits
• Employee & Family Assistance Program
• Employer-Matched Group Retirement Savings Plan
• Employee Share Investment Plan
• Well-being initiatives including: a wellness account; virtual self-care programs and extended mental health benefits
• Employee corporate discount for GoodLife Fitness

HomeEquity Bank is committed to an inclusive, equitable and accessible workplace. Accommodations are available on request for candidates taking part in all aspects of the selection process. To request accommodation, please contact your recruiter.

Please note that our successful candidate is required to complete a background check.

Stay in the Know

Find out what we’re up to online, and learn more about what makes HomeEquity Bank a great place to work:

• 200 Bay St., Toronto, ON M5J 2J1, Canada