Mortgage Default Specialist, Residential Services

CMLS Financial • Full-time • Remote (Toronto, ON, CA) • C$ 50k - C$ 60k / year • 2d ago

Mortgage Default Specialist, Residential Services

Calgary, AB or Toronto, ON

Salary Range: $50,000 - $60,000 / yr.

CMLS Financial is looking for a Mortgage Default Specialist, Residential Services to join our growing team.

Reporting to the Manager, Mortgage Default, the Default Specialist is responsible to work directly with borrowers to mitigate mortgage, tax, and condominium arrears, and determine the best workout solutions within insurer guidelines, to cure default circumstances. The Mortgage Default Specialist will also manage the fire insurance claims process. This position requires you to work directly with the borrowers, management teams, and business partners (i.e., Retention, Default Lawyers) to mitigate loss.

Role & Responsibilities:

Daily review of arrears and identify any trending activities
Review all new information received from borrower and update internal systems as required
Working directly with borrower in mitigating further arrears and determine best workout solutions within insurer guidelines. Seek approval from management and/or Insurer for anything over guidelines
Inbound and Outbound calls to and from all borrowers and related parties to cure arrears
Send appropriate notification regarding returned payments and/or arrears notification to borrowers
Ensure responses to emails, faxes and voice messages are completed within SLA
Work towards solutions which best reduce overall loss or potential losses
Determine when a loan is not collectable and recommend legal action
Set listing prices and shortfall sale exceptions within internal and insurer guidelines
Liaison with solicitors and insurers during the legal process to ensure proper management of file
Prepare and submit proof of claims for bankruptcy, work with trustees where applicable
Prepare and submit claims to mortgage insurers in the required timeframe (including supplementary claims)
Document calls through an IVR system, and record detailed notes in customer file
Monthly provision reports for loans in legal action
Monthly reporting to mortgage insurer regarding delinquencies
Collaborate and partner with other departments to support daily operations
Protects private and confidential information

This role is for you if you have:

3+ years of experience in residential mortgage default, administration, or call center operations
A post-secondary degree or equivalent related work experience
Proficiency in Excel, SharePoint, and other office applications
Bilingual proficiency in English and French (both verbal and written) is an asset
Experience with IVR systems is considered an asset
Strong customer service and problem-solving skills
Excellent oral and written communication abilities
Effective collaboration and communication skills
Strong interpersonal and active listening skills
The ability to thrive in a team-oriented, fast-paced environment
Exceptional organizational and time management skills, with the ability to handle multiple priorities
Professionalism, sound judgment, and integrity in daily operations
A proactive attitude, taking initiative and working independently when required
High attention to detail and effective conflict resolution skills

Benefits and Perks

Some of the benefits we offer at CMLS are:

Health and Wellness Spending Accounts
Health, Drug, Vision, and Dental benefits
Paid vacation, sick days, and personal days (in addition to all civil and statutory holidays)
RRSP Matching Program
Maternity / Parental Leave Top Up Program
Discounted gym memberships
Travel assistance and EAP
Business Casual dress code
Company social events + sport teams
Hybrid work arrangements
And more!

Who are we?

Established in 1974, CMLS Financial is the leading provider of capital solutions for commercial property owners, developers and real estate investors. We have over 50 years of experience, 35,000 clients, $45 billion in assets under administration, and offices coast to coast. Some of Canada's most prominent banks, investment managers, insurance companies, and pension funds rely on CMLS Financial for a variety of critically important services. Building on our solid foundation of financial strength and experience, we continue to deliver unparalleled capital solutions for all our clients' needs.

You will love working here

Employees tell us that they love that we strike the balance in creating an incredibly professional, yet dynamic and enjoyable corporate culture. We work in a fluid and fast-paced environment that is supportive of energetic and motivated individuals who pride themselves on being flexible and results-driven. Business is booming and that means that our employees are able to gain valuable exposure, have lots of learning opportunities, and truly impact the business. We are committed to providing our people with a challenging and rewarding career because our employees are what set us apart and we know it.

Equal Opportunity Employer

CMLS Financial is an equal opportunity employer committed to diversity and inclusion. We are pleased to consider all qualified applicants for employment without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, age, disability, protected veterans status, Aboriginal/Native American status or any other legally-protected factors. Disability-related accommodations are available on request for candidates taking part in all aspects of the selection process.

We want to hear from you!

If you are confident that you would be a strong asset to our team, submit both a cover letter and resume today. Be sure to tell us why you believe yourself to be a perfect fit! We thank all applicants for their time in applying, however we will only contact those selected for an interview. Consideration of applications will begin immediately and continue until the position is filled.

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