Pro Funds Mortgages is a boutique mortgage brokerage with 30 years of expertise in real estate acquisitions, development, and mortgage finance. We are a fast growing and dynamic team and have an immediate opportunity in our Burlington, Ontario headquarters.
GENERAL RESPONSIBILITY
The Commercial Underwriter will be primarily responsible for obtaining approvals, institutionally, and privately on conventional CHMC and insured products. This role supports internal funding requirements, District REIT, Valour Group of Companies, as well as external investors seeking financing.
The Commercial Underwriter will also be responsible for financial modeling, analysis, consolidated budgeting, forecasting, and report writing for the property and development team to provide valuable insights in support of operating and strategic planning initiatives. Other responsibilities may include reviews of exiting projects and joint ventures.
SPECIFIC RESPONSIBILITIES
- Act as the first point of contact for investors seeking financing, while maintain superior customer service at all times.
- Writing financial and business plans related to real estate development and property investment opportunities.
- Prepare Mortgage Request Packages for project and properties.
- Assist writing Offering Memorandums and Term Sheets for equity in real estate investments.
- Develop models and other analysis to drive initiatives, monitor trends, identify exceptions and to support budgeting, forecasting, and strategic planning for projects and properties.
- Analyze the profitability, projections, and other financial models to support decision making, financial feasibility and new business initiatives in collaboration with other departments.
- Provide timely and accurate analysis and information concerning, LTV, ROI, and ROE.
- Improve the quality and efficiency of financial reports and models and seek opportunities to streamline analysis and process.
- Prepare, review, analyze and verify mortgage applications for completeness, accuracy, suitability and risk.
- Take assets that are being acquired or nearing completion of development/construction, and realign with institutional financing.
- Complete due diligence analysis on future opportunities.
- Ensure compliance with all aspects of Pro Funds Mortgages underwriting policies, procedures and guidelines per delegated authority matrices.
- Adhere to applicable compliance obligations including Privacy, Anti-Money Laundering/Anti-Terrorist Financing and internal Anti-Fraud Policy requirements.
- File Unusual Transaction Reports as applicable to fulfil individual employee obligations to detect and deter financial crimes activity.
- Maintain consistent, objective and sound risk assessments in a high volume, service-oriented environment.
- Adhere to defined Service Level Agreement in acknowledging applications and following up on additional required information.
- Work effectively with all internal business partners to improve underwriting systems to maximize effectiveness and achieve excellence.
- Remain current on latest developments within the real estate industry and market trends to secure competitive advantage.
- Make prudent credit decisions on complex mortgage files.
- Prepare files and recommend mortgage deals for final approval.
- Maintain accurate information and detailed notes on applications, prepare and issue conditional mortgage commitments outlining all conditions that must be met to Pro Funds Mortgages satisfaction.
- Issue mortgage commitment according to negotiated and approved terms.
- Be a team player and rise above to help with reasonable duties as assigned.
REQUIREMENTS
- Minimum 7-years commercial mortgage underwriting experience as an analyst with a major commercial bank.
- Candidate has experience and understanding of commercial banking sector.
- Experience generating individual borrower risk rating for commercial borrowers.
- Experienced in conducting financial analysis of accountant prepared financial statements.
- Experience with Moody’s risk analytics.
- Ability and expertise to compile financial forecasts, construction budgets, experience in reviewing quantity surveyor construction reports.
- Ideal candidate has experience working with a commercial bank in area of corporate finance or real estate.
- Ideal candidate has completed a training program within a commercial banking institution.
- Preference is given to candidates that have a CPA or CFA designation.
WHAT WE OFFER
We are a work environment that cares about each other, reaching our potential, making a difference to our communities, and achieving success that is mutual. At Pro Funds Mortgages and Valour Group, you will have the ability to make a difference and have a lasting impact. We are committed to continuous learning and professional development with excellent opportunity for advancement within the organization.
- Join a dynamic, collaborative, high performing team of professionals.
- Work in a modern, spacious office, with impressive amenities.
- Excel with opportunities professional development and career advancement.
- Participate in frequent employee engagement events.
- Receive a competitive salary and health benefits plan.
Pro Funds Mortgages and Valour Group welcomes and encourages applications from people with disabilities. Accommodations are available on request for candidates taking part in all aspects of the selection process.
Job Type: Full-time
Benefits:
- Dental care
- Paid time off
- Tuition reimbursement
Schedule:
- 8 hour shift
- Monday to Friday
Application question(s):
- Do you have commercial underwriting experience?
Work Location: In person
