Canada Mortgage and Housing Corporation - CMHC

This job is no longer available.

Senior Multi-Unit Underwriter - Affordable Housing

Jul 20, 2018
$73,746 - $92,183
Halifax, Nova Scotia
Early Career

Travel Requirement: Travel not required Canada Mortgage and Housing Corporation (CMHC) helps Canadians meet their housing needs. As Canada's authority on housing, we contribute to the stability of the housing market and financial system, provide support for Canadians in housing need, and offer objective housing research and advice to Canadian governments, consumers and the housing industry. Prudent risk management, strong corporate governance and transparency are cornerstones of our operations. Our work matters to a great many people and our employees matter to us.

Bring your multi-unit underwriting skills and your knowledge of affordable housing to this Senior Multi-Unit Underwriter - Affordable Housing position in Halifax. As a member of the Insurance - Multi-Unit Underwriting team, you will promotes mortgage loan insurance flexibilities and works closely with key external and internal clients/ stakeholders to provide advice and guidance on mortgage insurance requirements to increase the supply of insured affordable housing units. The Senior Multi-Unit Underwriter - Affordable Housing is responsible for analyzing, underwriting and recommending multi-unit affordable housing mortgage loan insurance applications that will meet CMHC's risk vision This full-time permanent position is an exceptional opportunity for an analytical thinker, client focus individual to achieve his/her professional goals, while creating a sustainable organization that is at the heart of a world leading housing system. Our diverse opportunities and locations across the country enable you to advance and grow your skills, knowledge and career to match your evolving interests and experience.

How You Will Be Contributing

  • Identifying, assessing and analyzing risks associated with multi-unit affordable housing mortgage loan insurance applications submitted and provide recommendations for decision to the appropriate approval authority based on the loan amount.
  • Conducting preliminary underwriting reviews of proposals for lenders that are nearing the financing stage; identifying and communicating any risks; problem solving solutions/ options and alternatives that will result in a submission of a viable affordable housing application for mortgage loan insurance.
  • Analyzing financial and operational performance of the property, establish a lending value and determine a relative loan amount that represents adequate security. Mitigate risks by imposing whenever necessary,  mandatory repairs and related holdbacks for existing properties and contract security through such financial instruments as performance bonds, and labour and material bonds for new construction
  • Assessing market conditions in the geographical area to determine appropriate capitalization rates, operating benchmarks, vacancy rates and market rents to support the underwriting analysis.
  • Preparing an Underwriting Report which is comprised of a comprehensive review of the underwriting findings including recommendations and mitigating actions.
  • Developing and delivering specific (customized) training to existing or new client groups to increase understanding of CMHC's Multi-Unit Affordable Housing Mortgage Loan Insurance product, policies, criteria and insurance underwriting requirements.
  • Providing advice and guidance to clients, both lender clients and other internal and external clients on mortgage insurance requirements for affordable housing projects.
  • Contributing to the achievement of key performance targets for non-affordable housing files by underwriting market applications, where time permits and if necessary.
  • Participating and contributing actively to the National Affordable Housing Representative Team plans, goals, meetings and corporate/ national initiatives, etc.

What We Are Looking For

  • A commitment to demonstrating CMHC values
  • Bachelor's degree in Finance, Accounting, Law or Real Estate or a related field and a minimum of three (3) years of related experience or an equivalent combination of related education and experience;
  • The following area of license, designation or certificate will be considered as an asset: Real Estate Finance (CRF), Accredited  Appraiser Canadian Institute (AACI), Chartered Accountant (CA), Certified Management Accountant (CMA), Chartered Financial Analyst (CFA), Certified Property Manager (CPM), corporation professionnelle des évaluateurs agréés du Québec (CPEAQ), CGA - Certified General Accountant.
  • Experience in Multi-Unit Underwriting with a comprehensive understanding of underwriting policies and practices;
  • Experience reviewing financial proposals and assess their viability;
  • Experience implementing effectively a variety of marketing strategies;
  • Experience leading team discussions and conduct effective meetings;
  • Excellent analytical and decision-making skills;
  • Demonstrated communication, interpersonal and listening skills;
  • Ability to multi-task in pressure situations;
  • Ability to work effectively on a team or independently;
  • Ability to build and maintain client relationships;
  • Proficiency working in a computer-aided environment, using software such as Microsoft applications (including word, excel and power point);
  • Strong presentation skills to enable incumbent to facilitate and deliver training to client groups;
  • Excellent organization and time management skills enabling the balance of workloads and the prioritization or requests to meet deadlines with strong attention to detail.

APPLY today

This job posting will be active until 11:59 pm EST on July 20, 2018 however, the competition may remain active until a successful candidate has been chosen.

To Note

  • Your application must clearly demonstrate how you meet the requirements as CMHC cannot make assumptions about your education and experience.
  • Selected candidates may be required to do a presentation or assessment as part of the interview. If so, they will be advised in advance. In the event that tests are administered, candidates will also be advised in advance.
  • We sincerely thank all candidates for their interest, however, please note that only those applicants selected for further consideration will be contacted.
  • If selected for an interview or testing, please advise us if you require an accommodation.
  • Candidates who do not meet all of the position requirements may be considered in an under-fill capacity, in which case the person will be hired at a lower level than the position level.
  • All applications submitted to this competition will be kept for a six (6) month period and may be considered for future related vacancies at CMHC.
  • Candidates must be eligible for Reliability Clearance.
  • Second Language Proficiency levels are defined as follows:
    • A = Beginner Level
    • B = Intermediate Level
    • C = Advanced Level
    • E = Exempt
    • P = Specific Language Skills


CMHC is an employer that values diversity and encourages the learning and use of both Canada's official languages. CMHC is committed to employment equity and actively encourages application from women, Indigenous people, persons with disabilities and visible minorities