Commercial Mortgage Underwriter

Who we are: Fairstone Bank and its family of brands are united in delivering innovative, accessible and reliable financial solutions that enable Canadians to reach their goals. Over the years, our brand family has grown. In 2024, Home Trust Company, Home Bank and Oaken Financial became part of the Fairstone Bank family of brands, alongside Fairstone, EdenPark and Fig. Together, we are the leading alternative lending bank in Canada. We have the collective experience and expertise to better serve our customers and foster our partners’ growth. With a diverse suite of products like residential and commercial mortgages, consumer deposits and GICs, credit cards, retail and automobile financing, personal loans and digital lending. We offer financial solutions tailored to all Canadians, including newcomers, small-business owners, smart investors and savvy consumers. Backed by nearly a century of lending experience through its legacy companies, Fairstone Bank and its brand family are proud to be Canada’s leading alternative lending bank. About the role: Risk and Compliance * Receive, review, analyse and verify mortgage applications for completeness, accuracy, suitability and risk to ensure compliance with all aspects of Home Trust Company’s underwriting policies, procedures and guidelines per delegated authority matrices * Adhere to applicable compliance obligations including 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. Maintain consistent, objective and sound risk assessments in a high volume, service-oriented environment File Management * Make prudent credit decisions on complex mortgage files * Negotiate loan terms according to assessed risk and to meet the interests of the client and Home Trust * Prepare files and recommend mortgage deals for final approval * Maintain accurate information and detailed notes on applications, prepare and issue conditional mortgage commitments outlining all conditions that must be met to Home Trust’s satisfaction * Issue mortgage commitment according to negotiated and approved terms Communication * Adhere to defined Service Level Agreement in acknowledging applications and following up on additional required information * Work effectively with all internal business partners to improve underwriting systems to maximize effectiveness and achieve excellence * Remain current on latest developments within industry and market trends to secure competitive advantage What we’re looking for: * Post secondary degree or diploma required (University degree preferred) in related area * Preference will be given to those candidates with previous experience making direct submissions to CMHC Multi Res Team * 3-5 years with mortgage lending * Strong understanding of commercial mortgage products * Proficient in adjudicating credit, reviewing and assessing third party reports What you’ll love about working here: * Award-Winning Culture: We’re proud to be recognized as a Great Place to Work Canada 2025 and one of Montreal’s Top Employers 2025 by Canada’s Top 100 Employers. * Work-Life Balance: Enjoy flexibility with our hybrid work model designed to support your lifestyle. * Time to Recharge: Generous vacation based on your role, statutory holidays, plus 6 wellness days to prioritize your well-being. * Compensation Package: Competitive base salary plus an annual incentive bonus tied to performance. * Comprehensive Benefits: Robust health and dental coverage through Manulife, as well as virtual healthcare through Dialogue. * Future-Ready Savings: Group Retirement Savings Plan with up to 7% employer match. * Exclusive Perks: Discounts from top retailers via WorkPerks, plus location-based perks like gym memberships and Toronto Bike Share. * On-Site Fitness: Gym access at our London and Montreal offices. * Continuous Growth: Education Assistance Program and Fairstone Academy for training and skill development. * Family Support: Parental leave top-up program to help you during life’s big moments. * Community Impact: One paid volunteer day to give back to causes that matter to you. * For more information on who we are as an employer click here. [https://www.fairstone.ca/en/fairstone-careers] What you can expect - pay & process: * Expected base salary range is $75,000 - $85,000, plus the opportunity to earn an annual incentive bonus tied to performance. * This posting is for an existing vacancy within our organization. * Artificial intelligence may be used in parts of the recruitment process. * All candidates considered for hire must successfully pass a criminal background check, credit check, and validation of their work experience to qualify for hire. If what you read excites you, we’d like to hear from you! Please submit your application and we’ll contact you if you become selected for first stages of the interview process. Learn more: https://www.fairstone.ca/en/about/canadian-lender [https://www.fairstone.ca/en/about/canadian-lender] Follow us on LinkedIn: https://www.linkedin.com/company/fairstone/mycompany/ [https://www.linkedin.com/company/fairstone/mycompany/] If you have a preferred language for communication, please kindly inform us whether you prefer French or English on your application. Fairstone is an equal opportunity employer. Accordingly, we will make reasonable accommodations to respond to the needs of people with disabilities. Individuals who view themselves as Aboriginals, members of visible minorities, and disabled are encouraged to apply in confidence. Time Type: Full time JOB TYPE: Permanent

The role involves receiving, reviewing, analyzing, and verifying mortgage applications for completeness, accuracy, suitability, and risk, ensuring compliance with all underwriting policies and guidelines. Responsibilities also include making prudent credit decisions on complex files, negotiating loan terms, and preparing files for final approval.

Candidates must possess a post-secondary degree or diploma, preferably a university degree in a related area, along with 3-5 years of experience in mortgage lending. Strong proficiency is required in adjudicating credit, reviewing third-party reports, and a solid understanding of commercial mortgage products.

• Health Insurance • Dental Coverage • Virtual Healthcare • Group Retirement Savings Plan • Parental Leave Top-Up Program

Identified from the job description. Confirm important requirements above.

• Mortgage Applications Review
• Risk Assessment
• Compliance Adherence
• Underwriting Policies
• Anti-Money Laundering
• Anti-Fraud Policy
• Credit Decision Making
• Loan Term Negotiation
• Mortgage Commitment Issuance
• Service Level Agreement Adherence
• Credit Adjudication
• Third Party Report Review
• Commercial Mortgage Products

• Finance & Accounting
• Legal

Minimum education

Master’s degree

Minimum experience

2+ years

Posting language

English

Working hours

40 hours per week