Senior Mortgage Underwriter who possesses an analytical mindset - someone who views a complex financial set as a puzzle to be solved and eager to do so!
You will not be a data-entry clerk. You will be the financial engine behind the deal, responsible for taking raw data, finding the yield, and crafting the narrative that gets the deal funded. This is an excellent opportunity for those looking to develop their leadership and strong analytical skills within the real estate finance industry.
This position is
full-time in-person at our Calgary office.
This Position Offers- Competitive annual salary;
- Performance based bonus;
- Comprehensive benefits package, which includes extended health care (with paramedical coverage), dental, health spending account, Employee & Family Assistance Program as well as life & disability insurance;
- Growth opportunities within Canada ICI;
- Mentorship from some of the strongest Analysts and Originators within the commercial real estate industry.
- Matching RRSP Program.
The MissionYour goal is to optimize loan proceeds. You will act as the primary "Deal Architect," analyzing borrower financials, identifying the hidden value in an asset, and structuring the debt (LTV, DSC, Amortization) to fit the specific risk appetites of our 100+ lender relationships.
Responsibilities - Assist Mortgage Origination team in structuring mortgage opportunities based on the investment criteria of over 100 sources of mortgage capital available to Canada ICI.
- Finalize and perfect information in location specific mortgage investment brochures.
- Review commitment letters relative to executed Term Sheets/LOIs for the Mortgage Origination team, Lender and the Lender's solicitor.
- Work with the Mortgage Origination team to manage and coordinate the funding process including but not limited to; reviewing the fully executed commitment letter, preparation of the funding checklist, ongoing communication with the Borrower and any third parties required as well as proactively addressing potential issues in underwriting and conditions precedents.
- Engages critical thought to ensure proactive thinking to successfully fund the deal.
- Have a strong understanding of lending criteria for each lender and be able to suggest appropriate lenders when needed.
- Liaise between Borrowers and Lenders to process the closing of the deal.
- Establish relationships with third party report providers (appraisers, engineers, cost consultants).
- Assist in training and mentoring Analysts on the fundamentals of underwriting and funding.
- Acts with a sense of urgency in advancing the deals.
- Establish and reinforce underwriting standards and procedures.
- Provide underwriting on complex, non-typical files.
- Other duties as required.
Qualifications:- Bachelor of Commerce Degree, B.Com; Major in Finance or equivalent, is required.
- Minimum 3 years of direct Commercial Real Estate experience is required.
- Applicable provincial mortgage license is considered an asset, or you must be willing to obtain it within your first 12-months of employment.
- Excellent financial analysis research and underwriting skills.
- High attention to detail
- Clear understanding of cash flow statements, preparation and analysis.
- Excellent interpersonal and communication skills.
- Knowledge of Real Estate and Finance Industry is required.
- Expert level of knowledge in excel required to include formulas, pivot tables etc.
- Past teamwork, and team player focus and experience required.
- Experience with CMHC's MLI products is a plus.
