Job Profile

							                                                 Loan Restructure Specialist

Job Title: Loan Restructure Specialist
Company: MCAP Service Corporation
Job Status: Contract until December 2012
Location: Kitchener
Salary Band: Support/Service
Reports To: Manager, Default Management
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Closing Date: June 30 , 2011
Candidate Status: Open
Job Reference Number: 557


Role Summary:

The Loan Restructure Specialist is responsible for reviewing and processing modifications to a
defaulted loan and to prevent the loan from going into legal action. This would also apply to any
loan that is currently performing but will fall into default should a loan modification plan not be
considered and where a workout arrangement will not resolve the arrears. The position will be
responsible for utilizing collection tools available under MCAP, the mortgage insurers’ and
Lender policies (ie. Capitalization, re-amortization and partial payment arrangements).

Key Responsibilities:

      Key Responsibility 1 – Review the loan

      File is referred from ECU Reinstatement Specialist when a special payment
       arrangement is not sufficient to resolve the arrears

      Review the details and reason for default

      Review the policies/procedures for the Lender and mortgage insurer if applicable

      Determine if a loan restructure is viable

      Key Responsibility 2 – Collect the data

      Telephone call to the borrower to collect additional information

      Pull credit bureau and complete analysis worksheet

      Obtain market valuation of property (Realtor drive-by, Purview, drive-by appraisal)

      Key Responsibility 3 – Request approval

      Submit analysis and recommendation to manager for approval and/or decline if outside
       Loan Restructure Specialist’s approval authority Submit analysis to mortgage insurer if
       over Lender’s authority limit

      Submit analysis to Lender if outside MCAP’s authority limit

      Key Responsibility 4 – Process the loan restructure

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                                                                    Loan Restructure Specialist


      Post entries to MARS to capitalize interest, re-amortize the loan, re-calculate the
       principal + interest portions

      Set-up loan restructure fee for collection from borrower

      Send out letter to borrower outlining changes to loan and include new amortization
       schedule

      Add 261 memo to MARS and outline “Loan Restructure” solution

      Key Responsibility 5 – Track approvals/declines

      Develop report (excel spreadsheet) to track the date and type of loan restructure to
       determine if solution provided was able to prevent the loan from being referred for legal
       action

      Send monthly report to manager at end of month

Knowledge (Education/Experience):

      3 years experience in the Residential Mortgage industry

      Knowledge of mortgage default and collection experience

      Knowledge of MCAP, Lender and mortgage insurer default policies & procedures

      Understands credit reports and real estate valuations to assess appropriate solution for
       borrower

Skills/Assets:

      Excellent written and oral communication skills

      Ability to negotiate effectively with borrowers, intermediaries

      Proven track record of being a self-starter and self-motivated

      Strong organizational and time management skills

      Must be flexible and approachable

      Strong analytical and problem solving skills

      Sound decision making ability and results oriented

      Ability to prioritize high/fluctuating volumes of work

      Detail oriented with ability to see the “big picture”

      Strong work ethic, reliable, dependable

      Ability to work independently and as part of a team

      Ability to work with limited supervision
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                                                                  Loan Restructure Specialist


      Proficient in MS Office applications (excel, Word)

      Bilingual French preferred however not required




To apply for this position, please send your resume and cover letter to: careers@mcap.com in
PDF or Word 2003 format.


We thank all applicants for their interest in MCAP, however only those selected for an interview
will be contacted.




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