Intern - Funding Support, Winter 2027
Work Term: January - April 2027
The Residential Funding Supportrole ensures the seamless completion of the mortgage closing process by providing accurateand comprehensive data and documentation to the closing service provider. This enables solicitors/agents to initiate the property purchase or mortgage refinance closing process. Following the disbursement of funds, the incumbent will perform various administrative functions and finalize the setup of the loan within the mortgage system.
The Core Responsibilities of the Job:
Collaborate with Partners: Work closely with Equitable Bank’s closing service provider to provide all necessary data and documentation required for solicitors/agents to initiate the closing process for property purchases or mortgage refinances.
Effective Communication: Liaise with the Residential Credit Team to identify and resolve inconsistent information affecting the instruction process. Assign tasks for resolution, monitor progress, and verify corrections to ensure quality outcomes.
Document Review: Conduct detailed reviews of documentation from the lending portal
Data Management: Update systems and portals as necessary to tailor borrower data based on loan product and type.
Insurance Documentation: Prepare insurance documents with precision, ensuring borrower information is accurate and comprehensive.
Compliance Assurance: Verify that legal representatives meet all Equitable Bank integrity and compliance standards.
Attention to Detail: Maintain a high level of accuracy and thoroughness in all tasks and documentation.
Deadline Management: Operate effectively under tight deadlines in a fast-paced environment, prioritizing tasks to meet Service Level Agreements (SLAs).
Stakeholder Commitment: Address rush loans and reinstructions promptly, ensuring professional communication and a commitment to excellence for stakeholders and borrowers.
Quality Assurance: Complete and review reports to ensure adherence to Quality Assurance standards and protocols.
Portal Monitoring: Oversee the EQB closing service provider’s portal to ensure that funds have been appropriately disbursed by lawyers to designated parties.
Post-Funding Responsibilities: Execute essential post-funding activities, including:
Set up pre-authorized payment arrangements.
Generate and distribute welcome letters.
Verify the accuracy of property and mailing addresses.
Update borrower risk ratings.
Configure Lines of Credit on the servicing portal.
Process payments to business partners and brokers.
Complete administrative tasks necessary to finalize mortgage loan setups.
Task Management:Leverage the Post-Funding Checklist to confirm the accurate and timely completion of all updates and processes.
Quality Assurance:Ensure all reporting and post-funding actions adhere to Quality Assurance standards.
Issue Resolution:Collaborate with solicitors and the closing service provider to identify and resolve any deficiencies or discrepancies.
Final Report Review:Analyze final reports submitted by solicitors to ensure Equitable Bank’s mortgage registration complies with the terms and requirements outlined in the commitment.
Loan Status Updates:Accurately update loan statuses to reflect the receipt and review of final reports.
Follow-Up and Escalation: Proactively follow up with solicitors regarding outstanding final reports. Escalate unresolved cases to management for further action.
Formal Demands: Draft and issue formal demand letters when required, ensuring adherence to regulatory and procedural standards.
Mortgage Amendments: Manage the Agreement Amending Mortgages process, including:
Preparing documentation for management approval.
Securing legal authorization as necessary.
Providing a witness signature and maintaining accurate recordkeeping of finalized documents.
Coordinating the return of completed documents to third-party service provider and lawyers.
1. Instruction Tasks:
2. Post-Funding Tasks
3. Final Reporting
Let's Talk About You!
Currently enrolled in or recently completed a post-secondary program in Business, Communications, Information Technology, Data Analytics, or a related field.
Excellent attention to detail.
Established and meticulous time management and organizational skills.
Knowledge of mortgages.
Proven ability to thrive under pressure and perform well in a high volume, high intensity environment.
Strong written and verbal communication skills with the ability to respond in a clear and professional manner.
Demonstrated ability to use Microsoft Office.
Logical thinker with ability to multi-task.
Post-secondary education (diploma).