RFA\xe2\x80\x99s mortgage lending business is operated by RFA Mortgage Corporation and RFA Bank of Canada. RFA Bank of Canada is a federally regulated Schedule I Bank with a focus on Canadian mortgage products. The Bank\xe2\x80\x99s commercial mortgage operations focus on large commercial exposures in the construction and term lending space. RFA offers mortgage brokers a one-stop shop with our full suite of competitive Prime and Alternative mortgages.

RFA\xe2\x80\x99s strategic vision is to be a long-term leader in the residential lending segment by offering a value proposition beyond just rate and compensation. Through building a competitive broker experience and solutions-oriented product suite, RFA\xe2\x80\x99s goal is to be recognized and recommended by our mortgage broker partners, mortgagors, and other strategic partners, for our financing solutions and broker/client experience.

The Opportunity

To manage commercial mortgages from application to discharge. Duties include underwriting commercial mortgage applications in a timely and effective manner, reviewing construction draws, ongoing file review and account management. These activities ensure compliance with RFA\xe2\x80\x99s stated risk appetite, mortgage underwriting policies, and applicable guidelines. The scope includes large commercial term, commercial construction, and insured multi-residential underwriting.

Credit Management Results

• Underwrite to highest credit quality standards as defined by the Risk Appetite Framework and relevant policies and guidelines.
• Process applications for financing in the Bank\xe2\x80\x99s insured multi-residential, construction, and commercial term financing within RFA\xe2\x80\x99s Underwriting Guidelines, including, but not limited to:
• Review of credit information
• Review of real estate appraisals & environmental assessments
• Review of financial statements
• Terms and conditions on all mortgage applications
• Cash flow underwriting for income producing properties.
• Feasibility assessment and exit strategy for construction loans.
• Portfolio Management duties, including without limitation:
• Collection, analysis, and management of annual documentation through the term of the loan
• Completion of quarterly and/or annual review assessments, depending on the product and as hoc as required.
• Processing construction draws.
• Ongoing updates to the construction cash flow schedule
• Monthly, Quarterly and Annual completion of RFA\xe2\x80\x99s risk reporting and monitored loan program.
• Review of construction schedules and draws.
• Collection and review of the commercial and construction pipelines
• Review of weekly remittance reports
• Review and underwriting of Assumptions as necessary.
• Review of \xe2\x80\x9cAd-Hoc\xe2\x80\x9d requests such as, but not limited to, CMHC mandatory repair releases, change in ownership requests and the addition of release of guarantors.
• Maintain service levels in an environment of high volumes and the competing demands of originators and employees.
• Maintain direct contact with mortgage originators via updates specific to the application from fulfillment through to closing.
• Build and maintain exceptional customer service levels.
• Receive and review all funding materials; arrange for treasury to advance funds on the day of closing.
• Act as back up to funding function as required.

Operational Efficiency and Risk Management

• Manage work volumes to meet short timelines with a high level of quality.
• Evaluate real estate and associated risks in a volatile market.
• Build relationships with internal and external stakeholders.
• Keep up to date with evolving policies and procedures.
• Assist with monthly portfolio reporting.

What you can bring to RFA:

• Minimum 4 years of commercial mortgage underwriting experience, with detailed working knowledge of real estate and covenant assessments.
• Undergraduate university degree is an asset.
• Knowledge and understanding of commercial mortgage underwriting across a variety of asset classes.
• Detailed working knowledge of principles of credit analysis and risk management
• Intermediate to advanced level user of Microsoft Office

Benefits of Working at RFA:

• Health & Dental Care
• Vision Care
• RRSP Match
• Vacation & Personal Days
• Hybrid working environment.

Are you the Right Candidate?

• Demonstrated ability to assess risk in a fluctuating real estate market.
• Building productive relationships with mortgage brokers, internal mortgage agents and related business partners, understanding the needs that drive a commissioned sale force.
• Demonstrates the ability to make and document decisions that consider all implications and proactive management of risk.
• Demonstration of solid negotiation and problem-solving skills
• Ability to adapt to changing volumes and tight turnaround times.
• A very strong customer focus is required with an ability to ensure the customer experience is a positive one.
• An ability to make quick decisions without compromising underwriting quality.