Secondary Market Specialist

Description

Secondary Market Specialist

 

The incumbent in this position will serve as the primary contact for developing and administering secondary market initiatives; selling and purchasing mortgage loans; serving as oversight for the relationships with third party market participants including, but not limited to, Fannie Mae and Freddie Mac. Work requires building close relationships with Alliant internal and external partners to ensure the timely delivery of loans at the negotiated price. Resources to do the job require reliance on knowledge of the concepts, practices and procedures to deliver mortgage loans.

 

Secondary Market Responsibilities:
  • Work closely with Retail, Wholesale and Correspondent Sales as well as with third party processors to ensure on time delivery of loans.
  • Coordinate best practice funding procedures with internal mortgage servicing, wire and accounting functions as well as external title companies and Wholesale/Correspondent partners.
  • Coordinate the funding function for mortgage loans originated through the Retail, Wholesale and Correspondent channel.
  • Oversee the daily pricing of mortgage products for the credit union. Manage the retail, wholesale and correspondent pricing engine and pipeline to identify loans marked for sale. Determine best price, investor and delivery method (best effort or mandatory) for efficient and profitable loan delivery.
  • Manage new rate locks, extensions and re-pricing according to pricing and product guidelines.
  • Identify, develop and implement pricing strategies to meet established and strategic goals.
  • Oversee bulk loan selection and delivery.
  • Oversee the delivery of flow loans to the third party for best execution pricing including Loan Level Pricing add-ons.
  • Maintain knowledge of the concepts, practices and procedures to deliver mortgage loans to various investors.
  • Act as liaison to investors and origination partners.
  • Oversee the funding function from investors.
  • Assist with the coordination of funding for the Warehouse Lending channel.
  • Maintain a current knowledge of changing legislation and regulatory climate and recommend changes to mortgage loan policies and procedures. Partner with Marketing Department to assist and support the development of new products, pricing and product enhancements.

Requirements

  • Completion of a Bachelor’s degree in Finance, Accounting, or a related field or equivalent work experience
  • minimum two to four years experience in a pricing and delivering loans to the secondary market.
  • Exceptional analytical skills with a strong understanding of the secondary market opportunities within the mortgage industry.
  • Experience working with internal and external cross functional teams.
  • Computer proficiency utilizing MS Office Suite.

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