Residential Underwriter

Position: Residential Underwriter Reports To: Manager, Underwriting

Company: Magenta Capital Corporation Supervises: 0

Location: Toronto, Ottawa, Perth, ON 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

We are bringing on a Residential Underwriter to review and approve new opportunities for our residential portfolio.

We’re looking for an underwriter with experience working in a fast-growing, entrepreneurial environment. The position requires the ability to make consistent and objective risk assessments as part of a high-volume, deadline-driven team.

What you’ll work on:

- Adjudicating mortgage applications against internally defined criteria

- Negotiating loan terms to meet the needs of the borrower while following internal risk-tolerance guidelines

- Working with our broker partners to ensure accuracy and completeness of applications

- Ensuring compliance with privacy, anti-money laundering, anti-terrorist financing and anti-fraud policies

- Recommending applications for approval and issuing mortgage commitments

- Facilitating the handoff of committed files to the Fulfilment and Funding Team

- Working with the Fulfilment and Funding team to bring files to a close

- Collaborating with your teammates and the sales team to support the development of new products and services, while actively identifying improvements to existing offerings

- Collaborating with your team in supporting the continuous improvement and development of process, workflows, and procedures for the Underwriting department

What you should have:

- 3+ years of experience in mortgage underwriting; ideally alternative mortgage underwriting

- A common-sense approach to decision making

- The ability to determine when to take the right risks

- You are not afraid to make mistakes and learn from them

- Strong interpersonal and communication skills given the need to optimally manage key relationships with our mortgage broker partners

- Experience applying corporate guidelines and policies to your everyday work

- Ability to work autonomously and collaboratively

- Proficiency with the Microsoft Office suite of products

What we offer you:

- The opportunity to be a key contributor to our unfolding success story.

- The opportunity to think outside the box – every day.

- MCC’s Employee Share Purchase Plan (“ESPP”).

- Employer-paid benefits.

- Flexible Work Arrangements.

- Compensation commensurate with experience and qualifications.

- An entrepreneurial environment with the opportunity to collaborate across business functions.

If you are committed to tomorrow, please send your resume to hr@magentacapital.ca.

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.