Renewals Specialist

UnderwritingFull TimeOntario

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Position: Renewals Specialist

Reports To: Manager, Renewals

Company: Magenta Capital Corporation

Supervises: 0

Location: Hybrid/Virtual

Travels: 0%

About Magenta

Magenta is one of Canada’s largest and most established Canadian Mortgage Investment Companies on the verge of an exciting scale-up. Since 1994, Magenta Capital Corporation has provided flexible mortgage solutions that truly help our borrowers. As a leader in the alternative mortgage lending space, we partner with brokers to solve their client’s short-term credit challenges and facilitate their return to traditional lending channels. Magenta sources, underwrites, and manages a portfolio of mortgages secured by properties located in Ontario.

Most importantly, Magenta is now poised to make a giant leap forward in its corporate evolution as it takes advantage of the generational opportunity in the alternative mortgage market. If you are a dynamic professional with an entrepreneurial spirit that wants to be an integral part of this unique opportunity, then we want to meet you.

About your role

Reporting to the Manager of Renewals, the Renewal Specialist is responsible for working with clients as their mortgage matures and identifying needs, negotiating rates, and recommending solutions. The incumbent will follow up with clients for signed renewal agreement and supporting documents, and routinely interact with borrowers, brokers, and other staff members from a variety of departments. 

We’re looking for a team member who can work independently with borrowers and become their single source of information upon maturity. Accuracy and meeting deadlines are critical to avoid confusion and lack of clarity for borrowers and other Magenta team members.

The role is largely remote/virtual however potential candidates must have the ability to occasionally attend either the Perth, Ottawa, or Toronto office.

This role is constantly evolving and we're always looking for great people! This is a great opportunity for someone looking to learn more about the mortgage industry.

What you’ll work on:

- Proactively develop, strengthen, and maintain relationship with borrower

- Handle an array of customer inquiries at all stages of the file

- Review inefficiencies on an ongoing basis while making recommendations to management

- Achieve all specified departmental and individual performance goals and objectives regarding various renewal types

- Proactively contact all Mortgage Renewal clients prior to maturity to secure a decision from the mortgagor (renewal, early renewal or notification of discharge)

o Negotiate renewal mortgage rates within own discretion to achieve specified rate spread by using the following techniques:

o Review credit reports and beacon scores for the file

o Challenge/negotiate rates without compromising service and profitability

o Remain current and informed on the competitive marketplace in order to understand the options for the client

- Maintain accurate and detailed notes to ensure clarity between borrower and Magenta

- Maintain current client information as applicable e.g. contact info, employment details

- Review client documentation and ensure files adhere to all underwriting, anti-fraud, and anti-money laundering guidelines

- Assist senior management with ad-hoc requests, special projects and new initiatives as required

What you need:

- University/College Degree in a relevant field or equivalent experience

- Full Covid Vaccination Status

What you should have:

- Experience working in a small-medium sized office environment

- Previous experience within the Financial Services sector, within the Mortgage Industry is an asset

- Previous sales experience an asset

- Solution-focused, takes initiative to work effectively within established guidelines

- Strong organizational and time-management skills while maintaining attention to detail

- Good negotiating/ influencing skills

- Proven ability to work both independently and collaboratively within a team environment

- Consistently demonstrates and reinforces organizational values

- Solid knowledge of MS Office, and basic PC software

- Excellent English communication skills (verbal and written)

- Excellent interpersonal skills

- Ability to build rapport and communicate appropriately with clients and peers

- Mortgage Agent license preferred (if not, you must be open to becoming licensed)


What we offer you:

- The opportunity to be a key contributor to our continuing success story

- The opportunity to think outside the box – all day and every day

- Magenta’s Employee Share Ownership Plan (“ESOP”) – be an owner

- $45,000-$50,000 commensurate with experience

- Employer-paid benefits

- Equity Share Ownership Plan Flexible work arrangements

- Licensing reimbursement

- 3 weeks' paid vacation

A Message from our founder and CEO:

- “If you believe that tomorrow matters,

- If you and only you can define your tomorrows and write your own unique, epic life story,

- If you want to be part of a dynamic team with that shared conviction,

- If you want to be part of a great Canadian business success story,

- If you want to be an owner and not just an employee,

- Then we want to meet you”

~Gavin Marshall~

If you are committed to tomorrow, please send your resume to

While we thank all candidates who apply, only those who best match the above criteria will be contacted.

We are committed to an inclusive, barrier free recruitment and selection process, and work environment in accordance with the Accessibility for Ontarians with Disabilities Act (AODA). We will be happy to assist applicants requesting accommodation at any stage of the hiring process.