Co-op Student, Mortgage Officer

The Co-op Student, Mortgage Officer is primarily responsible for managing the residential mortgage file from sign back of the commitment letter to funding. The Mortgage Officer will ensure all broker conditions are fulfilled, and that the mortgage file is completed in accordance with company policies and guidelines. This position will drive quality through accuracy and efficiency while ensuring required service levels are achieved.

Key Responsibilities (minimum weighting = 10%)

File Quality Management and Analysis (50%)

• Reviews mortgage files and ensures client documentation, including but not limited to income, (job letter verification and bank statement analysis), down payment and client interviews, meet all Company lending policies and guidelines and are accurate and complete
• Takes ownership of approved files, analyzes data and is responsible for updating internal records to match received documentation while verifying the file metrics remain within Company guidelines. Notes any discrepancies and provides approval credit rationale as required.
• Ensures all documents are signed back and received from mortgage brokers within established SLAs.
• Manages, compiles, reviews and organizes mortgage documentation within established SLAs in a high volume and service-oriented environment
• Collaborates with the Funding team to ensure timely closings

Communication (30%)

• Be the main point of contact for Mortgage Brokers (previously the Underwriters were responsible for this) after the commitment letter has been signed back
• Conduct daily follow-up with brokers to answer broker/client questions and ensure all required documentation has been submitted, reviewed and actioned accordingly
• Ensure accurate record keeping
• Communicates material changes to the mortgage file to the appropriate authority level with rationale to support recommendations where appropriate
• Escalates unusual transactions as appropriate
• Communicates effectively with all internal and external contacts to ensure service level standards are met and foster positive relationships

Risk and Compliance (20%)

• Collects and reviews documentation supplied by client and broker to ensure its authenticity and compliance with all aspects of Home Trust Company’s policies and guidelines per delegated authority matrices and applicable compliance obligations including Underwriting Policies and Lending Guidelines, Privacy, Anti-Money Laundering/ Anti-Terrorist Financing, and internal Anti-Fraud Policy requirements
• Files Unusual Transaction Reports as applicable to fulfil individual employee obligations to detect and deter financial crimes activity

Education Requirement:

• Enrolled and successfully completed 1st year of post-secondary education

Years of Experience:

• 2 years in administrative environment preferable within mortgage industry an asset

Additional Qualifications, Certifications, Skills:

• Exceptional Problem-solving skills
• Proactive, takes initiative and is a self-starter
• Exhibits excellent time management skills and maintains a high level of organization.
• Inquisitive and adept at collecting and analyzing information.
• Capable of handling multiple responsibilities simultaneously in a dynamic, time-sensitive setting.
• Team player and collaborates well within the team and others to achieve common goals.
• Skilled at fostering strong interpersonal connections.
• Communicates effectively, both in speaking and writing, with a high degree of proficiency.
• Displays a high level of professional maturity and sound judgment.
• Proficient in generating and managing mortgage-related reports.
• Knowledgeable in the use of loan origination software.
• Proficient in Microsoft Office Suite, demonstrating strong capabilities in its applications.

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Learn more: https://www.fairstone.ca/en/about/canadian-lender

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Full time

Job Type:

Intern (Fixed Term) (Trainee)