Senior Underwriter Single Family

Toronto, ON, Canada Req #81
Monday, January 18, 2021

Join a happy, growing team! 86% of employees recommend MCAN as a great place to work! XMC leads competitors in growth year-over-year!


Senior Underwriter/Underwriter is responsible for underwriting, processing, and approving mortgage applications from a variety of sources including Broker, Direct and Third party
from all MCAN brands. This role is accountable for building solid relationships with our broker partners and referral sources to ensure volume, asset quality and profitability targets are met. Both the Sr. Underwriter and Underwriter role is responsible for coaching and mentoring underwriting and fulfilment staff.



  • Verify information on mortgage application and compare it with the Credit Bureau and
    media searches to ensure accuracy and addressing any discrepancies or inconsistencies.

  • Ensuring each application meets the requirements of MCAN’s Residential Mortgage Underwriting Policy (RMUP) and Residential Mortgage Underwriting Guidelines (RMUG) as well as mortgage default insurers’ requirements (if applicable)

  • Strong focus on a clear and concise rationale/recommendation detailing why you support or approve the application.

  • Strong focus on ensuring the commitment has the proper conditions in accordance to MCANs RMUP/RMUG & Insurers requirements Recommend and deliver quick and creative solutions in order to structure files for approval while staying within MCANs RMUP/RMUG & Insurers requirements

  • Detect, prevent and report suspected misrepresentations by filing Unusual Transaction Reports (UTRs)

  •  Strong focus on continuous communication with our broker partners via telephone and email is required to build and maintain our broker partner relationships. Providing
    brokers with mortgage options to assist in making informed decisions.

  • Adhere to pre-determined Turn-Around Times (TAT) on applications

  • Respond to broker inquiries within pre-determined TAT to ensure timely and accurate completion of each mortgage transaction.

  • Ensure timely and effective communication with both external and internal stakeholders to achieve pre-determined volume and efficiency goals.

  • Build and maintain relationships with brokers and third-party originators, to grow the portfolio and improve efficiency ratios.

  • Ensure all communications (verbal and written) are clear, unambiguous, accurate and professional.

  • Provide peers with coaching, training and mentoring when needed, to participate in the growth and development of our team.

  • Proactively provide suggestions to Single Family Management on improving and optimizing current processes and procedures to increase business outputs and build efficiencies.

  • Submit timely and detailed escalations of unusual financial and non-financial transactions to Compliance.

  • Submit timely and detailed escalations of privacy and data breaches to IT and Compliance as required.


  • Previous underwriting experience of a minimum of 2 years is required.
  • Completion of underwriting course or mortgage agent course is an asset.

About XMC:

An agile, boutique residential mortgage lender with the experience, the character and the commitment to excellence required in Canada’s evolving real estate market. XMC is proudly owned by MCAN Mortgage Corporation, a federally regulated mortgage investment corporation. Our team is made up of respected industry innovators, influencers and big-thinkers. We do things differently than other lenders. Our business isn’t selling mortgages, it’s building relationships.  We’re all about team, how we can make contributions, and our own self development. If you’re excited about connecting - so are we!

About MCAN:

MCAN is a niche-strategic investor in the Canadian real estate market focused on three key areas: single-family mortgages, residential construction loans, and other real estate investments. Our targeted approach to growth reflects our expertise and understanding of the needs of investors, clients, partners and the markets in which we invest.

Our people are our best asset - the kind of people you want on your team: smart, collaborative and helpful with a friendly, positive attitude. We are committed to building the company and building team member capabilities. Do you possess and value the same attributes? Are you interested in your own development? Then come join our team!

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.

MCAN is committed to providing accommodation to applicants throughout the job application and interview process. If you require any accommodations, please contact our Human Resources team at 416 847 2461

Other details

  • Pay Type Salary
  • Employment Indicator Perm FT
  • Toronto, ON, Canada