Commercial Mortgage Administrator – Post-Funding

MCAP Financial Corporation, a key player in the MCAP Group of Companies, is looking for a dedicated and proactive individual to join our team as a Commercial Mortgage Administrator. In this role, you will be responsible for managing post-funding activities related to our commercial CMHC-insured and conventional mortgage portfolios. Reporting to the Manager, Loan Servicing, you will oversee tax escrow management, payment processing, legal documentation, and more. Your contribution will be vital in ensuring smooth operations and exceptional customer service for our investors, borrowers, and internal teams.

Responsibilities:

As a Commercial Mortgage Administrator, you will play an essential role in managing post-funding tasks. Your main duties include:

1. Tax Escrow Management:
   • Take responsibility for the tax escrow accounts associated with commercial mortgages across Canada.
   • Ensure tax bills are collected and processed for timely payments to municipalities.
   • Prepare backup documentation for tax disbursements and update mortgage systems with accurate payment data.
   • Communicate any shortfalls or changes in monthly tax payments to borrowers.
   • Continuously explore automation opportunities to improve tax escrow functionality in the mortgage system.
2. Solicitor Final Reports:
   • Follow up with solicitors within 45 days of funding to ensure receipt of final signed mortgage documents.
   • Review solicitor final reports for completeness and accuracy, and address any discrepancies.
   • Manage and track solicitor final reports in the system, ensuring timely completion and escalating overdue items as necessary.
   • Ensure that any previous charges on the property title are properly discharged.
3. PPSA Administration:
   • Oversee the administration of Personal Property Security Act (PPSA) renewals and amendments in the system.
   • Coordinate with borrowers and third-party vendors to handle PPSA renewals efficiently.
   • Review and ensure that all PPSA documents are accurate and stored in the mortgage file.
4. Payment Processing and Daily Deposit Reconciliation:
   • Accurately post payments and invoices to the mortgage system daily.
   • Prepare deposit slips and reconcile daily deposits to ensure funds are properly processed.
   • Ensure efficient processing of payments, especially during higher-volume periods, such as the first and fifth of each month.
5. Mortgage Discharge Processing:
   • Handle mortgage discharge documentation promptly and professionally, ensuring borrowers’ mortgage obligations are met.
   • Work with solicitors to execute mortgage discharge documents and maintain proper documentation.
6. Additional Post-Funding Activities:
   • Obtain and review quarterly CMBS reports from the primary servicer and address any discrepancies.
   • Collaborate with other teams, such as Origination, Funding, and Investor Operations, to ensure smooth operations across the business.
   • Participate in internal and external audits as needed.

Qualifications:

To be successful in this role, you should have the following qualifications:

• Experience: Minimum of 2+ years in commercial mortgage administration, with specific knowledge of tax escrow administration and commercial mortgage legal documentation.
• System Skills: Experience working with loan servicing systems and proficiency in software such as Microsoft Outlook, Word, Excel, and PowerPoint.
• Customer Service: Excellent customer service skills, with a focus on building strong relationships with investors, borrowers, and internal teams.
• Organizational Skills: Strong time management and organizational skills, with the ability to handle multiple tasks and meet deadlines.
• Communication: Exceptional verbal and written communication skills, with the ability to effectively communicate complex information.
• Self-Starter: A proactive attitude and ability to take the initiative in a fast-paced environment.
• Bilingual: French language skills are a plus but not mandatory.
• Education: A post-secondary diploma or degree is preferred.
• Analytical Skills: Strong numerical and analytical abilities, particularly when reviewing loan agreements and financial data.

Benefits:

At MCAP, we value our employees and offer competitive benefits to support their well-being. As part of our team, you will enjoy:

• Competitive Salary: Based on experience, with potential for performance-based incentives.
• Comprehensive Benefits Package: Includes health, dental, and life insurance.
• Paid Time Off: 3 weeks of paid vacation and 5 personal days annually.
• Retirement Plans: Access to REER and RPDB with a 3% company match to support your financial future.
• Professional Growth: Opportunities for learning and career advancement in a dynamic and supportive environment.
• Work-Life Balance: Flexible working hours and remote work options, where applicable.
• Employee Recognition: Annual bonus programs and 3 days of paid time off for volunteer work, supporting community involvement.

Applying Guide:

If you meet the qualifications and are eager to join one of Canada’s largest independent mortgage finance companies, we would love to hear from you! Here’s how to apply:

1. Submit your resume through our online application portal.
2. Include a cover letter that highlights your relevant experience and qualifications for the role.
3. Tailor your application to showcase your expertise in commercial mortgage administration, tax escrow management, and payment processing.
4. Be prepared for an interview where you can demonstrate your passion for the industry and ability to thrive in a fast-paced, collaborative environment.

We are looking forward to welcoming a motivated, detail-oriented individual to our team who shares our commitment to excellence. Don’t miss this opportunity to be part of a dynamic team at MCAP Financial Corporation!

MCAP is an equal opportunity employer. We celebrate diversity and are committed to creating an inclusive environment for all employees.

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