About the Position
We are currently seeking a Mortgage Underwriter to take care of residential and commercial mortgage. Reporting to the credit committee, the Mortgage Underwriter conducts the underwriting and credit decision process, drives the smart growth through reviewing, analyzing, and assessing the borrower’s financial information and property evaluation following established policies and procedure to safeguard the Company’s investment.
- Co-ordinate, verify, review and analyze received mortgage applications along with supporting documentation and negotiate terms with internal business development manager and external mortgage broker, decline the applications, recommend the applications for approval to achieve consistent, objective and sound credit decisions. 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.
- Recommend mortgages approval within established lending policies and limits using good judgment to provide win-win solutions for borrower and the Company.
- Continuously monitors and maintains the mortgage application queue, accurately and in real time to ensure mortgage broker and borrower expectations and deadlines are met and service level agreements are achieved.
- Communicates regularly internally to ensure mortgage broker satisfaction and expedite turn around times
- Follow up with brokers on issued mortgage commitments to ensure the efficient closing of mortgage files.
- Provide the highest level of internal and external customer service while fielding mortgage broker inquiries and maintaining broker relationships.
- Provide underwriting expertise to business development manager, mortgage brokers, and clients and maintain an up to date knowledge of company policies, procedures and products.
- Interacts with mortgage brokers for the collection of all required documents to satisfy mortgage commitment conditions
- Reviews and verifies accuracy of required documentation related to income, down payment and the property using sound due diligence and in compliance with internal and regulatory guidelines prior to signing off on any mortgage conditions or documents, where applicable
- Escalates any documentation issues to the Underwriting Committee for review and sign off
- Documents clear and complete notes within the mortgage underwriting system
- In-depth knowledge of credit and mortgage loan underwriting practices
- Knowledge of the risk analysis approach and the appraisal process (ability to understand and interpret appraisal reports)
- Knowledge of fraud risk in the mortgage industry and the ability to address concerns relating to suspected misrepresentation is required
- Familiarity with mortgage process documents, i.e. Mortgage Statements, Purchase & Sale Agreement, T4A, T1, NOAs, Tax Bill, and Insurance Policy document, etc.
- Demonstrated interpersonal and communication skills
- Ability to read, analyze and comprehend financial statements and tax returns
- Strong customer service orientation and negotiation/selling skills
- Must be a self-starter and results oriented
- Ability to thrive in a constantly changing environment and to perform well in a high volume, high intensity deadline driven environment
- Ability to make decisions under pressure while adhering to underwriting guidelines
- Excellent time management, analytical and problem solving skills
- Multi-tasking in fast paced, deadline driven environment
- Excellent attention to detail
- Participate in required meetings, training, and continuing education requirement
- Comply with all regulatory requirements, including licensing and registrations
- Perform other duties as assigned
- 2+ years’ mortgage experience in the financial services industry (preferred alternative mortgage market)
- Proficiency in MS Office (mainly MS Word and Excel)
- Completion of a post-secondary degree preferably in financial field
- Certification(s)/Designation(s) preferred
- Previous experience within Financial Services sector preferred
- Completion of sub mortgage broke exam and or FICOM license or willingness to complete the exam and register with FICOM by the end of probation
- Bilingual: strong oral and written skills in both English and Mandarin
Compensation: highly competitive, depend on experience