Reverse Mortgage Specialist (Underwriter And Mortgage Officer)

Join a Challenger
Being a traditional bank just isn’t our thing. We are big believers in innovating the banking experience because we believe Canadians deserve better options, and we challenge ourselves and our teams to creatively transform what’s possible in banking. Our team is made up of inquisitive and agile minds that find smarter ways of doing things. If you’re not afraid of taking on big challenges and redefining the future, you belong with us. You’ll get to work with people who will encourage you to reach new heights. We like to keep things fun, ask questions and learn together.
We are a big (and growing!) family. Overall we serve more than 370,000 people across Canada through Equitable Bank, Canada's Challenger Bank™, and have been around for more than 50 years. Equitable Bank's wholly-owned subsidiary, Concentra Bank, supports credit unions across Canada that serve more than 5 million members. Together we have over $100 billion in combined assets under management and administration, with a clear mandate to drive change in Canadian banking to enrich people's lives. Our EQ Bank platform ( eqbank.ca ) has been named the top Schedule I Bank in Canada on the Forbes World's Best Banks 2023, 2022, and 2021 lists.
Purpose of the Job
The Reverse Mortgage Specialist is responsible for assessing all new mortgage applications, issuing mortgage commitments, and collecting required documentation taking the file to the solicitor instruction stage in a timely and prudent manner within established guidelines. This must be done as efficiently as possible while exercising sound lending judgment and without compromising service and profitability.
The Work

• The incumbent will strive to ensure that mortgage files are in compliance with the Company’s established lending policies and procedures.
• On a daily basis, be the main point of contact and provide underwriting and mortgage fulfillment expertise to mortgage brokers, provide assistance to co-workers when required to meet the Company’s service levels and maintain up to date knowledge of the Company’s policies, procedures, and products.
• Work closely with Management from SFR Credit, SFR Residential Operations and SFR Sales to evolve the EQB Reverse Mortgage product. Given that the product is new, the incumbent will need to be flexible, patient and highly diligent. As well, the incumbent will need to be comfortable working with a wide range of internal stakeholders to help them understand how EQB’s Reverse Mortgage product differs from peers.
• Develop strong broker relationships including in person meetings to help drive excellent NPS results without sacrificing credit quality
• The incumbent is responsible for the management of their deal flow in order to meet prescribed deadlines and SLAs. The incumbent will be make diligent use of reports to track and manage the flow of all deals funding for their pipeline.
• On a daily basis, incumbents must provide the highest level of internal and external customer service while fielding mortgage broker inquiries and building strong broker relationships.
• Assess an applicants fit with EQB’s Reverse Mortgage criteria, specifically credit worthiness and legal ability to assume a mortgage. Perform activities like, but not limited to title searches, property maintenance affordability calculators, review property appraisal and borrower documentation to meet internal policy and procedure, regulatory and file-specific requirements.
• The Incumbent will review documentation for accuracy and legitimacy placing a strong emphasis on anti-money laundering (AML) and anti-terrorist financing (ATF) requirements, including but not limited to, income and down payment verification.
• The incumbent will follow up with brokers daily on issued mortgage commitments to ensure that funding volumes are maximized.
• On a daily basis, incumbents must promptly review received applications, verify the supporting documentation to ensure accuracy and legitimacy, approve, decline or refer the applications for approval. The incumbents are also responsible to ensure that approved deals close as scheduled and efficiently as possible by following up on outstanding conditions/documents and ensuring compliance with established guidelines.

Let's Talk About You!

• Sound thinking with the ability to multi-task
• Strong attention to detail
• Demonstrated ability to thrive in a constantly changing environment and to perform well in a high volume, high intensity environment
• Proficient in MS Office (MS Word and Excel)
• Ability to develop and maintain positive working relationships with brokers
• Commitment to developing him/her-self and to keeping abreast of industry changes and trends
• Experience in underwriting mortgage for properties located in different provinces an asset
• Strong written and verbal communication skills
• Strong analytical and problem-solving skills
• In-dept knowledge of mortgage funding and QA and underwriting guidelines an asset
• Completion of a post-secondary degree/diploma preferably in a financial field
• Minimum of 4 years’ mortgage experience, with preference given to reverse mortgage exposure

What we offer [For full-time permanent roles]
💰 Competitive discretionary bonus
✨ Market leading RRSP match program
🩺 Medical, dental, vision, life, and disability benefits
📝 Employee Share Purchase Plan
👶🏽 Maternity/Parental top-up while you care for your little one
🏝 Generous vacation policy, personal days and even a moving day
🖥 Virtual events to connect with your fellow colleagues
🎓 Annual professional development allowance and a comprehensive Career Development program
💛 A fulfilling opportunity to join one of the top FinTechs and help create a new kind of banking experience
Equitable Bank is deeply committed to inclusion. Our organization is stronger and our employees thrive when we honour and celebrate everyone’s diverse experiences and perspectives. In tandem with that commitment, we support and encourage our staff to grow not just in their career path, but personally as well.
We commit to providing a barrier-free recruitment process and work environment for all applicants. Please let us know of any accommodations needed so that you can bring your best self to the application process and beyond. 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.
We can’t wait to get to know you!