Associate Director, Mortgage Underwriting
ABOUT KV CAPITAL INC
KV Capital Inc. is a rapidly growing Edmonton based Private Lender that currently manages a $130 million mortgage portfolio of short term residential and commercial mortgages. The firm conducts in-house underwriting and provides funding to borrowers located in Alberta under real-estate secured financing transactions.
The company was founded in 2006 by Chartered Accountants and Chartered Business Valuators, and has enjoyed success by leveraging the experience of its professional staff to create customized financing solutions for borrowers that own real estate and require funds for short-term financial bridging, construction projects, and development projects.
Associate Director, Mortgage Underwriting – Job title dependent on seniority of the successful applicant.
The successful candidate will be able to directly, or in an oversight capacity, analyze, value security for, critically assess, and structure all types of commercial mortgage loan applications, including land acquisition, residential and commercial construction, inventory loans, bridge financing, and repositioning loans. Your ability to identify critical issues, inconsistencies in the applications as well as an assessment of the feasibility of real estate projects will be critical in this role. You will provide leadership and assume supervisory capacity for underwriting staff and will lead Special Projects applicable to KV Capital’s underwriting function.
Working under the direction of KV Capital’s Director, Mortgage Underwriting, you will be responsible to:
• Directly, or in an oversight capacity, complete timely review and feasibility assessment of project based mortgage loan applications under an asset secured model;
• Identify, assess, quantify, and evaluate moderate to complex risks on a project by project basis through:
o Valuation of real estate security;
o Developing and completing efficient and comprehensive due diligence procedures on a deal by deal basis;
o Preparing and maintaining working papers to support underwriting recommendations; and
o Structuring financing terms, pricing risk, and recommending deals.
• Initiate, organize, and conduct ongoing monitoring of projects over the term of any financing advanced;
• Work closely with in-house business development staff, borrowers, third party brokers, and clients to develop and maintain positive business relationships;
• Provide leadership for the underwriting function in resolving non-
performing loans, including foreclosures and foreclosed real estate. Will bring a variety of creative solutions to resolve non-performing files that result in best-case scenario outcomes for KV Capital and our clients:
• Recommend and implement continual improvements to internal underwriting and funding processes, including utilizing industry best practices, and realizing efficiencies.
• Provide review and oversight capacity for on-going mortgage administration services, including processing mortgage advances, renewals, payouts, and discharges; as well as preparing periodic reports;
• Supervise and provide mentorship for underwriting staff; and
• Provide leadership for Special Projects including technological improvements, market research, process improvements, etc.
KV Capital is focused on developing meaningful, long lasting, and mutually beneficial relationships with our clients and brokers. It will be incumbent upon you to maintain and build the reputation of the firm by delivering clear communication, timely service, and providing expert advice.
KV Capital employee
Base salary commensurate with experience and education supplemented by incentive based compensation tied to the key performance metric of volume of deals underwritten and managed with a successful funding outcome.
QUALIFICATIONS / DESIRED SKILLS AND EXPERTISE
To be successful in this role you will have:
• Exceptional analytical, communication, and organization skills;
• Strong financial acumen;
• Working knowledge of the real estate and/or mortgage industry;
• Awareness of local (Albertan and Canadian) economic conditions and indicators;
• Professional, friendly, and courteous demeanor;
• Advanced user of Microsoft Office Suite, with a demonstrated expertise in Excel;
• Proven leadership ability, including experience in a supervisory or managerial role;
• Sound professional judgment and advanced critical thinking abilities;
• A degree, designation or certification in a related field is required; and
• 5-7 years of directly related experience in the real estate, finance, or investment industries.
To apply, please forward your resume and cover letter in confidence to:
Director, Mortgage Underwriting
email@example.com (please indicator “Associate Director” position in the subject line)