Renewal Specialist

BrokerageFull TimeOntario

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Position: Renewal Specialist

Reports To: Manager, Renewals

Company: Magenta Capital Corporation

Supervises: 0

Location: Remote/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.

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~

About your role

Reporting to the Manager of Renewals, the Renewal Specialist is responsible for working with high profile 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 staff 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.

What you’ll work on:

- Proactively develop, strengthen, and maintain relationship with borrowers and brokers.

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

- Work with brokers to understand customer’s needs and to reach a common goal.

- 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.

- Remain current on consumer needs, industry trends, best practice's.

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

- 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 mortgage sales experience an asset.

- Ability to analyze a situation and strong decision-making skills.

- 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

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.