Lydia Evans
Manager, Commercial Mortgage Closing
Richmond Hill,ON
Overview
18
18
years of professional experience
1
1
Language
Work History
Manager, Mortgage Closing
Canada Life
11.2022 - Current
- Reporting to Senior Managing Director, Mortgage Operations.
- Manage, supervise a team of closing analysts.
- Lead training sessions and provide ongoing support in the investment division.
- Create new processes and procedures for Business operations.
- Ensuring all requirements necessary to protect the company’s security are fulfilled prior to advancing commercial mortgage loans or renewing mortgage loans.
- Review commitment letters for new or renewing mortgages and instructing solicitors to prepare necessary documents in accordance with the terms of the commitment letter and other business terms and conditions, and requirements of The Proceeds of Crime (Money Laundering) and Terrorist Financing Act.
- Corresponding frequently with and acting as a liaison between the Originators, borrowers / agents, and solicitors to ensure that all parties are informed and to resolve any problems or issues regarding fulfilling all requirements of the loan.
- Analyzing business requirements and problems and conferring with management and legal staff to develop new processes, documents, and procedures regarding mortgage loan closing and documentation on an ongoing, as needed basis.
- Review commitment letters for new or renewing mortgages and instructing solicitors to prepare necessary documents in accordance with the terms of the commitment letter and other business terms and conditions, and requirements of The Proceeds of Crime (Money Laundering) and Terrorist Financing Act.
- Reviewing preliminary legal reports from solicitors, insurance consultant reports and client identification reports.
- Reviewing and completing all legal documentation regarding any changes to the mortgage file such as but not limited to rezoning, consents to easements, assumptions, and statutory rights of way.
- Analyzing business requirements and problems and conferring with management and legal staff to develop new processes, documents, and procedures regarding mortgage loan closing and documentation on an ongoing, as needed basis.
- Approve funding calculations, legal documentation and interest rate calculations.
- Manage, supervise and assist with the training of junior Mortgage Closing staff.
Commercial Mortgage Funder
RFA Bank
01.2020 - Current
- Reporting directly to VP Credit Operations.
- Solely responsible for processing $2BN in commercial mortgage transactions.
- Managed over 50 inquiries per day.
- Accountable for each construction draw request is processed in a timely manner.
- Coordinate receipt of funds flow from participant banks as part of settlement.
- Lead syndication loans arrangements in accordance with the agency and loan agreements.
- Review and approve Interlender and Participation Agreements.
- Ensures controls and internal/external standards are complied with.
- Created spreadsheets using Microsoft Excel for daily, weekly, and monthly reporting to Treasury, Finance and Head of Risk departments.
- Resolved problems, improved operations and provided exceptional service.
- Performed critical thinking to break down problems, evaluate solutions and make decisions.
- Created new precedents for records management.
- Manage reviewing, analysis and filing of large volumes of data (Construction projects, legal and security documentation), provides recommendation for approval within tight deadlines.
- Manage pipeline to meet prescribed deadlines.
- Delivered services to customer locations within specific timeframes.
- Created plans and communicated deadlines to complete projects on time.
- Developed and maintained courteous and effective working relationships.
- Developed team communications and information for meetings.
- Identified issues, analyzed information, and provided solutions to problems.
- Actively listened to customers, handled concerns quickly and escalated major issues to management.
- Approve property insurance policies, title insurance policies, lease review, legal and security documentation and undertaking requests.
- Proved successful working within tight deadlines and a fast-paced atmosphere.
Senior Commercial Mortgage Closing Officer
CMLS Financial
08.2018 - 09.2019
- Reporting to the Vice President & Managing Director.
- Oversee 5 Commercial Mortgage Funders. Accountable for training and support.
- Accountable for reviewing and organizing variety of electronic file types.
- Performed data entry and data validation checks with keen attention to detail.
- Responsible for records management, data entry and administrative duties.
- Accountable for following up for outstanding documents, receiving, and reviewing legal documents for accuracy and enforceability on loans that are scheduled to close.
- Accountable for review of large volumes of data (Construction projects, legal and security documentation), provides recommendation for approval within tight deadlines.
- Ensuring all requirements necessary to protect the company’s security are fulfilled prior to advancing commercial mortgage loans or renewing mortgage loans.
- Review commitment letters for new or renewing mortgages and instructing solicitors to prepare necessary documents in accordance with terms of commitment letter and other business terms and conditions, and requirements of Proceeds of Crime (Money Laundering) and Terrorist Financing Act.
- Corresponding frequently with and acting as liaison between Originators, borrowers / agents, and solicitors to ensure that all parties are informed and to resolve any problems or issues regarding fulfilling all requirements of loan.
- Reviewing preliminary legal reports from solicitors, insurance consultant reports and client identification reports, ensuring that all legal and business terms have been satisfactorily met.
- Reviewing final document packages and solicitor reports when received and contacting Origination staff or external solicitors if there are any deficiencies or errors.
- Reviewing and completing all legal documentation regarding any changes to mortgage file such as but not limited to rezoning, consents to easements, assumptions, and statutory rights of way.
- Analyzed business requirements and problems and conferring with management and legal staff to develop new processes, documents, and procedures regarding mortgage loan closing and documentation on an ongoing, as needed basis.
- Increased funding goals through effective task prioritization and great work ethic.
Senior Commercial Mortgage Officer-Legal Admin
Manulife
10.2016 - 08.2018
- Canadian Investment Services, North American Real Estate Finance. Manulife Reporting to Assistant Vice President North American Real Estate Finance Group.
- Oversee 5 Commercial Mortgage Funder. Accountable for training and support.
- Target: Coordinate and execute the closing of fixed term conventional commercial mortgages across Canada (including Quebec).
Compliance Analyst - Enhanced Due Diligence
HSBC Bank
01.2015 - 12.2015
- Target: Triage and risk score all incoming files to ensure they meet the criteria as High-Risk accounts.
- Achievements: Successful completion of monthly compliance training.
- Create virtual and physical files collecting and providing initial assessment of information pertinent to the investigation.
- Triage and risk score all incoming files, High Risk accounts.
- Investigate, evaluate and analyze documentation provided by the client to ensure all Legal, Anti-Money Laundering and Know-Your-Client legislation requirements have been satisfied and refer
- Control multiple email inboxes and telephone lines to ensure that information received is collected appropriately and responses to various lines of business.
Senior Commercial Mortgage Officer
Laurentian Bank
04.2012 - 01.2015
- Real Estate and Legal Services Department. Reporting to the Senior Manager of the Real Estate Financing Legal Services Department.
- Oversee 6 Junior Commercial Funders. Accountable for training staff and developing training manuals for circulation.
- Target: Coordinate the funding of multi-million-dollar term, construction, land servicing and syndication mortgages.
- Annual Achievements: Successfully managed and processed 23-40 new loans on a monthly rotation, constructions draw, and refinances monthly contributing to the department goal of $2BN.
- Prepare and distribute weekly Commercial Pipeline and Syndication reports.
- Mortgage file management, including filing, completing of checklists, and scanning of documents for Head Office, ensuring Management has required documentation two days prior to funding date of loan.
- Assumptions: prepare physical and virtual files, review documents, instruct solicitors and process transactions.
- Payment Processing and Daily Deposit Reconciliation: Post payments and the payment of invoices to the mortgage system, daily, as required.
- Mortgage Discharge Processing: request and review internal and external discharge statements prior to closing.
- Post funding projects; follow up for outstanding fees, undertaking, solicitor final reports, escrow requirements etc.
- Calculate interest adjustments, repeat holdback, tax holdback, and monthly tax components. Insurance, PPSA, GA, GSA, postponement; and corporate documents.
- Renewals: Review renewal letters, contact clients, prepare physical and virtual files, update terms, rate and process.
- Resolved problems, improved operations, and provided exceptional service.
Fulfillment Specialist, Residential Underwriting
First National Financial LP
01.2008 - 04.2012
- Target: Coordinate the funding of residential mortgage loans.
- Annual Achievements: Successfully managed 20-40 loans on a monthly basis contributing to the department goal of $100-$200M.
- Responsible for instructing, advancing and closing mortgage files.
- Packaging documents, reviewing them for accuracy and completeness, entering the deal on end-to-end in a concise manner that follows standardized processes and gets the deal to decision status in an accelerated fashion
- Responsible for ordering appraisals and acting as a liaison between MS and all related parties (lending, title insurers, clients)
Education
Certificate - Strategic Business Management
Harvard University - Boston
08.2018
Certificate - Project Management
University of Toronto
04.2010
Mortgage Agent Course -
REMIC
09-2021
Bachelor of Arts - Political Science
York University
04.2004
Skills
- Expertise in commercial mortgage funding
- Leadership in management roles
- MS Office skills proficiency
- Knowledge of LMS and regulations
- Familiarity with Loan IQ systems
- Analysis of financial statements
- Understanding mortgage markets dynamics
- Experience with AML documentation processes
- Skills in training and coaching staff
- Organizational effectiveness strategies
- Collaboration within teams
- Risk management knowledge base
- Influential communication techniques
- Capabilities in problem-solving
Timeline
Manager, Mortgage Closing
Canada Life
11.2022 - Current
Commercial Mortgage Funder
RFA Bank
01.2020 - Current
Senior Commercial Mortgage Closing Officer
CMLS Financial
08.2018 - 09.2019
Senior Commercial Mortgage Officer-Legal Admin
Manulife
10.2016 - 08.2018
Compliance Analyst - Enhanced Due Diligence
HSBC Bank
01.2015 - 12.2015
Senior Commercial Mortgage Officer
Laurentian Bank
04.2012 - 01.2015
Fulfillment Specialist, Residential Underwriting
First National Financial LP
01.2008 - 04.2012
Certificate - Project Management
University of Toronto
Bachelor of Arts - Political Science
York University
Certificate - Strategic Business Management
Harvard University - Boston
Mortgage Agent Course -
REMIC