Retail Credit Underwriter, Alternative-A Lending

Retail Credit Underwriter, Alternative-A Lending

This position is located at 5255 Yonge St., North York. 

Job Summary

The Retail Credit Underwriter, Alt-A Lending will underwrite, process and approve retail lending applications focusing on DUCA's complex, non-conforming/alternative mortgage applications within prescribed authorized limits and specified turnaround times. The incumbent will ensure that all documentation adheres to DUCA’s policies and guidelines, and other external guidelines and legislation, while mitigating potential risks.  The incumbent will contribute to the development and maintenance of accounts, and maintain strong relationships with internal and external partners and make recommendations for continuous improvements on processes to ensure client satisfaction. As DUCA's sole underwriter focused on Alternative A lending, our ideal candidate will be an expert and have a passion for Alternative A lending.  

Major Duties and Responsibilities:

• Underwrites credit and pricing decisions on complex, non-conforming/alternative mortgage applications and supports these decisions on renewals.
• Verifies information, such as applications and credit bureaus to ensure accuracy, while ensuring adherence to DUCA’s policies and guidelines and external lender guidelines/insurers (CMHC, Genworth & Canada Guaranty).
• Evaluates and analyzes documentation and applications supplied by clients and brokers to ensure adherence to AML legislation and Know-Your-Client (KYC) legislation.
• Contacts the brokers/clients for additional information or clarification to facilitate an effective and timely decision on deals.
• Documents deals to support recommendation for approval, and/or conditions the deals in accordance with recommendation for approval.
• Responds to questions or concerns from all clients with the intent to build/maintain relationships. Handles and resolves escalated member service issues and offers solutions in order to maintain excellence in client satisfaction.
• Recognizes upsell opportunities, recommending alternate mortgage proposals and communicates with internal and external stakeholders to maximize opportunities.
• Understands the importance of risk decisions in successful portfolio management.
• Maintains a 4-hour turnaround time on applications.
• Responds to questions and concerns received from clients via email, fax and phone within 2 hours of receipt to ensure timely and accurate completion of each mortgage transaction.
• Participates in projects as required to assist in the building and development of the business.
• Reviews all documentation pertaining to adjudication and approvals of loans, while mitigating potential risks identified on documentation by the Associate Mortgage Underwriter (AMU).
• Reviews and educates the AMU on the different types of fulfillment documentations.
• Identifies any gaps in processes and recommends suggestions for improvements and best practices to aid in the continuous improvement of the business and workflow.
• Keeps current with all relevant legislation and DUCA’s policies and procedures.

Minimum Qualifications and Skills:

• Minimum of five years’ experience of residential mortgage underwriting.
• Minimum of three years’ experience with non-conforming / alternative lending experience.
• Previous experience working with mortgage brokers.
• Demonstrated, sound credit judgment.
• Proficient knowledge of principles of credit analysis and risk management.
• Ability to understand financial statements and assess financial viability.
• Strong understanding of residential mortgage products.
• Exceptional relationship development skills.
• Strong interpersonal, organizational and time management skills.
• Proven conflict resolution and strong decision-making ability.
• Proficiency in the use of MS Office suite.

DUCA exists to help people do more, be more and achieve more with their money and their lives. We’re driven by a co-operative philosophy that puts our Members (and Owners) at the centre of every decision we make, gives them a voice in how we’re run and rewards them for their loyalty by sharing our profits.

At DUCA, we’re dedicated to creating a positive environment where our employees have growth and development opportunities, a healthy work/life balance, opportunities to give back to the community, and a focus on doing what is right for our Members. DUCA offers a competitive total compensation package including base salary, a short-term incentive (bonus) program, a comprehensive benefits program, pension plan, and employee banking benefits.

DUCA is committed to employment equity and encourages applications from all qualified candidates.  Recruitment related accommodations will be provided upon request.

Qualified applicants are encouraged to submit both their resume and coverletter. We thank all applicants but only those considered for an interview will be contacted.