Commercial Mortgage Underwriting Intern, CMHC (Fall 2024)

Purpose of Job

To assist the Commercial Mortgage Underwriting team with the underwriting of CMHC-insured commercial mortgage loans. The Intern will be trained on all aspects of underwriting the loans including analysis of rental income streams, borrower financial strength and key risk factors inherent in the lending decision.

The Intern will also become familiar with the Bank’s established policies and underwriting standards as well as federal compliance regulations while finding creative solutions to achieve customer service goals and internal volume targets.

Main Activities :

60% on a daily basis, the Intern will analyze and underwrite CMHC-insured commercial mortgage loans and perform annual reviews of the portfolio of CMHC insured loans.

Time will be divided between the two areas as business demands require. Attention must be made to ensure that compliance with the company’s established lending guidelines and procedures are followed with recommendations submitted for approval to management.

The incumbent is responsible to ensure all lending criteria have been satisfied on deals underwritten and outstanding documentation / conditions, if any, are being met in a timely manner.

• 10% on a daily basis, the incumbent will communicate with external contacts (origination partners) and internal contacts (funders, managers, administrators) to ensure mortgage loan transactions are processed in a timely and efficient manner in order to deliver superior customer service and meet required funding deadlines.
• 10% on a daily basis, the incumbent is responsible for time management of their deal flow in order to meet prescribed deadlines.
• 20% on a weekly basis, the Intern will assist with various credit-related and administrative duties such as reporting, pipeline management and ad-hoc projects.

Knowledge / Skill Requirements :

• Currently enrolled in University or College program (Finance, Business, Accounting or Economics is preferred)
• Demonstrated ability using MS Office (Excel, PowerPoint, and Word)
• Strong organizational skills and demonstrated ability to work under pressure and adhere to tight deadlines
• Strong attention to detail
• Strong analytical skills
• Excellent oral and written communication skills with the ability to respond in a clear, concise and professional manner
• Ability to handle multiple competing priorities
• Ability to work in a fast-paced environment

How to Correctly Submit Your Application

• All applications must be submitted through our company website : . Search for : Commercial Mortgage Underwriting Intern, CMHC (Fall 2024)
• Please note that you must be an active student going back to school. Applications from students who have already graduated will not be accepted unless you need to do a co-op placement in order to graduate.
• Please scan together and submit ONE DOCUMENT that includes your transcripts, resume and cover letter. Please note that if the application is not completed properly, it will not be accepted .

What we offer For full-time permanent roles Competitive discretionary bonus Market leading RRSP match program Medical, dental, vision, life, and disability benefits Employee Share Purchase Plan Maternity / Parental top-up while you care for your little one Generous vacation policy, personal days and even a moving day Virtual events to connect with your fellow colleagues Annual professional development allowance and a comprehensive Career Development program A fulfilling opportunity to join one of the top FinTechs and help create a new kind of banking experienceThe incumbent will be working hybrid and in office time will be spent working from Equitable Bank’s additional office space located at 351 King Street East, Toronto, ON.