Property Tax and Document Specialist

Responsibilities Tax Escrow Management

• Assume responsibility for the commercial mortgage portfolio’s tax escrow accounts by understanding tax installment due dates and processes for each municipality across Canada on the underlying mortgaged properties
• Collect tax bills and prepare the backup to ensure the timely payment of tax disbursements to the municipality
• Process tax disbursements to the mortgage system and reconcile the cash disbursements to the amount processed on the system
• Prepare tax escrow analysis on mortgage accounts to ensure that sufficient funds are on hand to make the tax payments to the municipality and communicate any shortfalls or monthly payment changes to the borrower
• Explore, test and pursue automation opportunities on the mortgage system as it relates to tax escrow functionality
• Review and update procedures and policies as related to tax escrow

• Follow up for solicitor final reports within 45 days of funding to ensure that final, signed mortgage documents are received from solicitors and stored to the individual mortgage files to ensure that MCAP has a perfected security interest in the mortgaged property
• Review solicitor final reports per the established procedures and document and follow up for any shortfalls or clarifications
• Manage the solicitor final reports event on the system by knowing which events are coming due and which are past due. Maintain status notes on the system for any outstanding items and escalate past due events
• Ensure that previous charges on title are discharged

• Maintain Personal Property Security Action (PPSA) renewals and amendments on the system
• Liase with borrowers and the third‑party vendor on PPSA renewals and amendments
• Review PPSA renewals and amendments received for accuracy and ensure evidence is saved to the mortgage file

• Post payments and the payment of invoices to the mortgage system, daily as required
• Prepare daily reconciliations, deposit slips and ensure cheques are deposited at the bank
• Higher payment processing volumes occur on the first and fifth of the month with primary servicer payments coming in on the fifth
• Pursue payment processing automation efficiencies on system

• Handle all mortgage discharge legal documentation in a timely and professional manner to support the borrower in their satisfaction of the mortgage obligation
• Liase with solicitors on the execution of mortgage discharge documentation and ensure backup is maintained in the mortgage file

• Obtain and review quarterly CMBS reports from the primary servicer and follow up and elevate shortfalls
• Participate in external and internal audits
• Effectively liaise with other Commercial and Corporate teams such as Origination, Funding, Portfolio Management, Investor Operations, Finance and Treasury
• Other activities as required to meet objectives of the Commercial Servicing unit

• Knowledge (Education/Experience)
• 2+ years’ experience in mortgage administration with a focus on tax escrow administration and knowledge of commercial mortgage legal documentation
• Experience working in a loan servicing system
• CMB and CMBS commercial mortgage servicing knowledge is considered an asset
• Proven track record of being a self‑starter and taking initiative
• Excellent time management skills with an ability to handle multiple tasks in a proactive manner
• Excellent customer service skills
• Proficient with Microsoft Outlook, MS Word, MS Excel, MS Power Point
• Demonstrated ability to communicate and pursue automation and process efficiencies
• Self‑driven and motivated by desire to work in a dynamic environment where independence and teamwork is required
• Proficient with numerical analysis and review of loan agreements
• Strong analytical and organization skills
• Effective verbal and written communication skills
• French language skills are considered an asset
• Post‑secondary degree or diploma

MCAP provides equal opportunities for all applicants and is committed to fostering an inclusive, accessible environment, where all employees feel valued, respected and supported throughout the recruitment and employment process. If you require accommodation, we will work with you to meet your needs.