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Sr. Underwriter

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.

The Role

This position is responsible for underwriting, processing and approving mortgage applications, and to contribute to the development and maintenance of accounts. The key focus of this role is to establish strong relationships with key brokers.

Reviewing Applications

  • Verify information on application and with the Credit Bureau to ensure accuracy
  • Verify information to make sure it meets company guidelines and external lender guidelines
  • Contact the broker/client for additional information or clarification in order to decision the deal effectively

Credit Adjudication

  • Adjudicate information presented and address any discrepancies or inconsistencies
  • Verify data viewed to ensure it meets company guidelines
  • Document the deal to support recommendation for approval
  • Condition the deal in accordance with the recommendation for approval
  • Pricing files according to risk

Service Clients

  • Respond to questions or concerns from all clients with the intent to build/maintain relationships
  • Provide all clients with mortgage options to assist in making an informed decision.
  • Maintain a 4-hour turnaround time on applications
  • Respond to questions and concerns received from clients via email, fax or portal discussion within 2 hours of receipt to ensure timely and accurate completion of each mortgage transaction
  • Maintain a 24-hour turnaround time for documentation review including the timely and accurate update of all systems.

Communication with Brokers/Clients

  • Negotiate applications or marginal deals
  • Build the business with the broker/client in order to increase the portfolio and closing percentages

Documentation Verification

  • Review all documentation pertaining to adjudication and approval of loan
  • Mitigate potential risks identified on documentation by the Document Specialist

Mentor Staff 

  • Review and educate Document Specialist on the different types fulfillment documentation 
  • Communicate to manager or corporate program any knowledge or suggestions to aid in the continuous improvement of the business 


What You Bring To The Team 

  • 3 years underwriting experience required
  • University Degree/College Diploma required 
  • Accredited Mortgage Professional (AMP) an asset
  • Completion of Mortgage Agent course to satisfy provincial regulatory requirements and asset
  • Completion of internal audit’s credit adjudication process and asset
  • Knowledge of Real estate and covenant assessments, legislation and land title systems in all provinces preferred
  • Knowledge of Legislation (e.g. Mortgage Act) regarding risk related mortgage law preferred
  • Proficient in Outlook, Word, and Excel
  • Ability to negotiate effectively with intermediaries
  • Ability to understand financial statements and assess financial viability
  • Exceptional oral and written communication skills
  • Excellent organizational and time-management skills
  • Ability to multi-task in a fast paced environment
  • Strong analytical and problem solving skills
  • Proven ability to foster relationships
  • Strong customer service skills.
  • Self-driven, motivated with the ability to work independently and in a team environment
  • Carries out duties with integrity and takes responsibility for actions.


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 $73 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 #: req218

Employment Status: Permanent Full Time

Location: Waterloo; Ontario

Number Of Openings: 1

Department: Residential


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.


Please note that in applying for a position with MCAP, applicants will be disclosing Personal Information about themselves and consent to the collection, use, disclosure, storage, transfer and/or processing by MCAP of this Personal Information for all purposes related or incidental to your employment application and MCAP's recruitment process.

MCAP provides equal opportunities for all applicants and is committed to fostering an inclusive, accessible environment, where all employees feel valued, respected and supported throughout the recruitment and employment process. If you require accommodation, we will work with you to meet your needs.