Reverse Mortgage Specialist

The Core Responsibilities!

• Daily, 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. 

• The incumbent will follow up with brokers daily on issued mortgage commitments to ensure that funding volumes are maximized. 

• 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 strive to ensure that mortgage files are following the corporation’s established lending policies and procedures. 

• The incumbent is responsible for the management of their deal flow to meet prescribed deadlines and SLAs. The incumbent will make diligent use of reports to track and manage the flow of all deals funding for their pipeline. 

• Incumbents must provide the highest level of internal and external customer service while fielding mortgage broker inquiries and building strong broker relationships. 

• Daily, be the main point of contact and provide underwriting and mortgage fulfillment expertise to mortgage brokers, direct-to-client representatives, and aid co-workers when required to meet the corporation’s service levels  

• Maintain up-to-date knowledge of the policies, procedures, and products.  

• Develop strong broker relationships including in-person meetings to help drive excellent NPS results without sacrificing credit quality. 

• Assess an applicant’s 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.  

• Work closely with Management from SFR Credit, SFR Residential Operations and SFR Sales to evolve the EQB Reverse Mortgage product. Also, 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.  

• Taking initiative and having an urgency to ensure files are funded in a timely manner 

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• Post-secondary education in business or finance.  

• Minimum of 2 years’ mortgage experience, with preference given to reverse mortgage exposure.  

• Highly developed verbal and written communication skills with the ability to respond in a clear, concise, and professional manner. 

• Excellent time management, analytical and problem-solving skills.  

• Excellent attention to detail along with established and meticulous organizational skills. 

• Sound knowledge of AML & ATF practices, and fraud risk in the mortgage industry and the ability to address concerns relating to suspected misrepresentation is required. 

• In-dept knowledge of mortgage funding, QA, and underwriting guidelines is an asset. 

• Experience in underwriting mortgages for properties located in different provinces is an asset. 

• Proficient in MS Office (MS Word and Excel). 

• Demonstrated ability to thrive in a constantly changing environment and to perform well in a high volume, high intensity environment. 

• 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.  

• Critical thinking for unique transactions requiring “outside-of-the-box” thinking