MCAP at a Glance
Joining MCAP means you will be a part of our diverse workforce of highly talented individuals who are recognized for their expertise and success! At MCAP, your professional expertise, commitment to teamwork and passion for service excellence are recognized and rewarded with competitive total rewards offering, a career with continuous learning and development (formal & informal training), and exciting opportunities in a dynamic, entrepreneurial environment.
Reporting to the Manager, Construction Funding; this position is primarily responsible for providing accurate and timely administrative support to the Branch Funding Group with minimal supervision.
The Funding Administrator is also accountable for the records management, cash management and Letters of Credit administration. In addition, the Funding Administrator will preparing routine correspondence and reports, responding to inquiries, preparing discharges, maintaining files and the set-up of loans on LMS and the DFG Portal.
Utilizing existing customer service skills, the successful candidate will have regular interactions and relationships with our clients, third party professionals and internal staff.
Loan Payment Processing and Cash Management
- Calculate and match sale proceeds with expected discharge statement;
- Post loan payments and other financial transactions on the System of Record;
- Advise Cash Management, and Investor Relations of daily cash deposit transactions;
- Responsible for reconciliation of Bank Wires & Cheques received;
- Maintain the daily cheque log;
- Prepare and deliver a deposit slip for daily cash receipts to our Finance Group.
- Responsible for sending retrieving, and record keeping of files stored with an offsite Records Management company;
- Prepare and distribution department reports;
- Log and input sales information on Quarterly Status Report
- Maintain PPSA Security and update information on LMS for tracking purposes;
- Follow-up on LMS event items. Follow-up includes insurance, PPSA, financial statements, taxes and Personal Net Worth Statements;
- Perform all closing functions to discharge mortgage loans, including the maintenance of a payout checklist;
- Set-up and upload loan documentation to LMS and the DFG Portal for investor access;
- Prepare full and partial discharge statements in accordance to the terms and conditions outlined in a loan’s commitment letter.
Create Letter of Credit Transactions
- Responsible for preparing Letter of Credit transaction on Tradevenue or manually, depending on Investor;
- Maintain monthly invoicing and payment of Letter of Credit Fees;
- Reconcile Letters of Credit between Bank’s records/reports and LMS ;
- Prepares instruction letters for third party professionals in accordance to a loan’s commitment letter;Provides administrative support duties for Funding Group, which may include but are not limited to:
- Open, sort, research & distribute mail daily, order supplies, prepares cheques, run and forward via fax, e-mail, mail, as well as other requests,
- Assemble loan information and advance documentation for audit purposes.
- Identifies customer needs and takes appropriate action to meet those needs. Demonstrates commitment to appropriate level of service
- Acts with a sense of urgency
- Provide prompt and professional customer service to meet the needs of internal and external customers
- Meet all quality standards and expectations in accordance with Best Practices
What You Bring To The Team
- Post-Secondary Education (Diploma or Degree)
- 2 or more years of experience in mortgage administration or real-estate related experience
- Ability to work independently and as a member of a team;
- Ability to handle multiple tasks with tight deadlines;
- Excellent organizational and time management skills, ability to prioritize;
- Ability to function effectively in a team environment using conflict resolution, problem solving and interpersonal skills.
- Strong analytical and organizational skills
- Good decision-making ability
- Ability to communicate effectively both orally and in writing
If this sounds like you and you are looking to be a part of one of Canada’s largest independent mortgage finance companies in Canada, then we want to hear from you!
Be A Part Of Something Great
MCAP has grown to become one of Canada’s largest independent mortgage finance companies a real Canadian success story! MCAP is an independent, Canadian based mortgage finance company with more than $15.4 billion of annual originations and over $66 billion in assets under administration. MCAP provides mortgage products and services to a broad range of institutional investors and lenders for residential and commercial properties across Canada. Founded in 1981, MCAP has over 700 employees and originates, funds, trades, securitizes and services mortgages in offices across Canada. MCAP is also a leader in Canadian construction and development lending with over 20 years in the business. Our teams of dedicated professionals serve a variety of developer, construction and investor clients across Canada.
Position #: req165
Employment Status: Permanent Full Time
Location: Vancouver; British Columbia
Number Of Openings: 1
Department: Development Finance
Internal Job Title: Funding Administrator
The above information in this description has been designed to indicate the general nature and level of work performed by employees in the position. It is not designated to contain a comprehensive inventory of all duties, responsibilities, and qualifications required of employees assigned to this job.