Mortgage Jobs – The Equitable Trust Company: Residential Mortgage Underwriter

EquitableTrustCompany: The Equitable Trust Company 
Position Title: Residential Mortgage Underwriter
Years of Experience: At least 1+
Licenses Required:  No
City of Position: Toronto, Ontario 
How should candidates contact us: Please apply in Word format only to While we appreciate your interest in applying, an ETC recruiter will only contact leading candidates whose skills and qualifications closely matches the requirements of the position.

Residential Mortgage Underwriter

Purpose of Job:

The Mortgage Underwriter is responsible for negotiating/ recommending/declining/ and approving in some instances, mortgage applications within established guidelines, to be secured by new or existing real estate. This must be done as efficiently as possible while exercising sound lending judgment and without compromising service and profitability.

Main Activities:

1. 50% – On a daily basis incumbents must review received mortgage applications along with supporting documentation and negotiate terms with the mortgage broker, decline the applications, recommend the applications for approval and in some instances approve the applications. The incumbents are also responsible to ensure that approved deals close as scheduled and as efficiently as possible by following up on outstanding conditions/documents and ensuring compliance with established guidelines.

2. 20% – Follow up with brokers on a daily basis on issued mortgage commitments to ensure that funding volumes are maximized.

3. 20% – On a daily basis provide the highest level of internal and external customer service while fielding mortgage broker inquiries and building strong broker relationships.

4. 10 % On a daily basis provide underwriting expertise for mortgage brokers and co-workers and maintain an up to date knowledge of company policies and products.

Knowledge/Skill Requirements

  • Strong communication skills.
  • Strong writing skills.
  • Sound knowledge of mortgage lending, preferably the sub-prime market.
  • Completion of a college or equivalent post secondary degree preferably in a financial field.
  • At least one year experience in Underwriting or related position.
  • Demonstrated ability to use MS Office (MS Word and Excel).
  • Sound thinker with the ability to multi-task.

Job Complexities / Thinking Challenges:

The incumbent is responsible for making sound lending recommendations, often under constrained timelines, without compromising credit risk and profitability. The incumbent should be prepared to manage files of greater complexity at times. The incumbent is required to follow corporate policies and procedures in order to work through files and rationalize the recommendations or decisions made.

There are designated authorities and various levels of management reviewing recommendations and approving the mortgage applications submitted for approval.


Incumbents operate under direct management, and their team’s performance is regularly monitored by the Manager, Residential Underwriting and Senior Manager Residential Mortgages. Regular decision making pertaining to deal recommendations and pricing is required however this is done under management supervision and guidance.

The role will have a substantial impact on the success of the Single Family Residential department in reaching its annual funding targets and other departmental goals.

The incumbents may have authority to approve mortgage applications up to a specified approval limit but this will be at the discretion of Senior Management.

Key Internal and External Contacts

Incumbents communicate daily with mortgage brokers, and when necessary with appraisers and solicitors. Daily communication with interdepartmental staff members also occurs.

The incumbent is expected to provide underwriting and credit expertise for mortgage brokers and co-workers.

Physical Demands / Working Conditions

Normal office environment; there is moderate, job related pressure.

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