Fairstone Bank is a leading alternative lending bank in Canada, providing innovative financial solutions. The Mortgage Renewal Specialist will identify client needs, negotiate mortgage rates, and maintain relationships with borrowers to ensure successful renewals.
Responsibilities
- Identify clients’ needs, negotiate mortgage rates, recognize up sell opportunities, and recommend HTC refinancing solutions to satisfy our clients and retain business
- Proactively follow up with clients for signed renewal agreement and supporting documents
- Routine interaction with borrowers, other members of the renewal team, call centre, brokers, underwriting staff, legal/collection departments
- Accuracy and meeting deadlines are critical to this position
- Proactively contact all Mortgage Renewal clients in an effort to secure renewal/early renewal
- Achieve all specified departmental and individual performance goals and objectives regarding various renewal types
- Negotiate renewal mortgage rates within own discretion to achieve specified rate spread for HTC
- Maintain accurate and detailed notes to ensure clarity between borrower & HTC
- Review renewal files 30-90 days prior to maturity
- Proactively develop, strengthen, and maintain relationship with borrower
- Review credit reports and FICO scores for each file to verify we are offering correct rate
- Effectively identify sales potential, by way of refinancing current mortgage balance, and/or consolidating current secondary financing, or outstanding debts
- Challenge/negotiate rates without compromising service and profitability
- Must know all HTC products to recommend feasible solutions to satisfy client needs
- Remain current and informed on our competition to retain the business
- Offer Life Insurance for each renewal
- Identify possible workout solutions in case of job loss/ illness
- Manage rate spread as specified
- Maintain current client information as applicable e.g., telephone numbers, employment details
- Achieve all specified departmental and individual goals for referrals, Life Insurance accepted applications
- Evaluate and analyze documentation supplied by client and broker (e.g., BP set up, FN8X accurate and complete) to ensure its authenticity and compliance with all aspects of Home Trust Company’s policies and guidelines per delegated authority matrices and applicable compliance obligations, including Underwriting policies and lending guidelines, Privacy, Anti-Money Laundering/ Anti-Terrorist Financing and internal Anti-Fraud Policy requirements
- File Unusual Transaction Reports as applicable to fulfil individual employee obligations to detect and deter financial crimes activity
Skills
- Post-secondary degree or diploma in related area or discipline; University degree in related discipline an asset
- Additional relevant accreditation(s), certification(s) are strong assets
- 1-3 years of experience in a similar role
- Current knowledge of regulations regarding mortgage lending and familiarity with both conventional and government mortgage policies an asset
- Experience in both insured and uninsured lending space
- Strong organizational, time-management, research/ analysis, and attention to detail
- Strong interpersonal relationship building and listening skills
- Proven ability to work both independently and collaboratively within a team environment
- Effective written / verbal communication, and professional maturity
- Consistently demonstrates and reinforces organizational values
Benefits
- Generous vacation based on your role, statutory holidays, plus 6 wellness days to prioritize your well-being.
- Competitive base salary plus an annual incentive bonus tied to performance
- Robust health and dental coverage through Manulife, as well as virtual healthcare through Dialogue
- Group Retirement Savings Plan with up to 7% employer match
- Discounts from top retailers via WorkPerks, plus location-based perks like gym memberships and Toronto Bike Share.
- Gym access at our London and Montreal offices.
- Education Assistance Program and Fairstone Academy for training and skill development.
- Parental leave top-up program to help you during life’s big moments.
- One paid volunteer day to give back to causes that matter to you.
Company Overview
Fairstone Bank is a non-bank provider of responsible lending solutions for near-prime and non-prime borrowers. It was founded in 1923, and is headquartered in Montréal, Quebec, CAN, with a workforce of 1001-5000 employees. Its website is https://www.fairstone.ca.