Secondary Market Specialist

GESA CREDIT UNION•Richland, WA

7d•$35 - $58•Onsite

About The Position

Under the direction of the AVP of Home Loan Operations, the Secondary Market Specialist will ensure that all profitability expectations established by Finance are met and fully executed. This team member will proactively identify trends in pricing and profitability and communicate to appropriate business partner to address and resolve. This role will also be responsible for monitoring and processing all lock-related requests including all steps from the initial rate lock through selling of the loan file to the secondary market.

Requirements

Strong analytical and problem-solving skills
Highly organized and detail oriented
Ability to work in a fast-paced, deadline-driven environment
Ability to exercise independent judgment
Strong ability to work independently
Ability to meet deadlines while managing multiple tasks simultaneously
Consistently display interpersonal skills to relate effectively and professionally to peers and all levels of management
Ability to promote and participate in a cohesive team environment
Ability to effectively communicate ideas and information, both orally and in writing
Bachelor’s Degree is preferred but may be substituted with 3 years of relevant work experience in a similar or related role
Mortgage industry experience required: Secondary Marketing/Lock Desk experience preferred, but related roles such origination or processing are also acceptable
Knowledge of executing commitments, packaging and delivering to secondary markets preferred
Some travel is required to complete credit union training and/or fulfill duties
Display courtesy, tact, and diplomacy with current and potential members, peers, and staff
Proficient with standard office equipment Excel, Word, and Outlook

Responsibilities

Identify and monitor all loans held for sale; provide senior management with detailed reports on an on-going basis
Execute loan commitments in alignment with the established strategies and objectives, optimizing profitability while managing risks associated with the secondary market activities
Assist in the packaging and timely delivery of loans consistent with requirements of investors. (FNMA, FMCC, FHA, and VA)
Learn and develop expertise in all aspects of the product and pricing system. Provide back-up support to the VP of Home Loans as needed
Work closely with internal teams such as underwriting, processing and closing to coordinate secondary market transactions and ensure alignment with overall business objectives
Stay informed about industry trends, new mortgage products, and emerging technologies to adapt and improve secondary market strategies
Produce/maintain daily rate sheets accurately meeting management expectations. Upload rates to Loan Origination System and long-term storage by 9:00 am daily.
Work with third party vendors when issues arise with rate sheet through to solution
Monitor Lock Desk queue for lock requests, lock extensions, re-locks, and re-pricing of loans in Loan Origination System as requested.
Work with appropriate team members to ensure pricing calculations are accurate
Work with loan officers and operations team to extend locks as needed
Lock and extend loans on investor websites by required deadlines to prevent loss of margin due to intraday market movements
Manage the locked loan pipeline and provide daily updates to management including lock expirations, and loan status
Provide pricing scenarios to mortgage loan officers and operations team members.
Stay abreast of regulatory changes ensuring compliance with regulatory requirements and internal policies
Maintain awareness of policies and regulations related to duties and responsibilities
Attend credit union trainings, conferences, or seminars as approved by management
Display mutual respect, trust, and dignity, while acting in the best interest of the credit union following all policies and procedures as expected by management.
Lead by example by always displaying solid ethics and integrity
Maintain and protect all sensitive data utilizing the highest standard of confidentiality and professionalism
Willingly perform other job-related projects and duties as assigned, self-initiating assistance to team members when appropriate