Secondary Marketing Analyst

Date posted:

Department:

Lending

Location:

Long Island City (HQ) - Queens, NY

Description:

Responsible for participating in daily pricing and the execution of the profitability strategy of UNFCU mortgage products. Assist in the management of the investor, agency and vendor relationships associated with the development, pricing, securing, and selling of mortgage products. Responsible for creating, maintaining, and distributing the daily retail rate sheets. Assist in analyzing and managing interest rate and credit risk for mortgage loans related to maintaining loans in portfolio and selling loans into the secondary market. Participate in investor reporting requirements, including annual updates.

Accountabilities:

• Assist in the sale of mortgage loans, ensuring best execution in the secondary market.

• Survey, analyze, and recommend, on a daily basis, interest rate changes to all products, as required and indicated by market and risk conditions.

• Prepare, maintain, and publish daily rate sheets including maintenance of Intranet and Mortgagebot/UNFCU Mortgage Centre site (UNFCU.org). Ensure distribution to all appropriate channels.

• Maintain lock-desk: accept, record, and maintain all lock-in records. Monitor rate lock expiration dates and manage extension requests. Provide backup to the Senior Analyst when purchasing forward commitments from investor agencies, when appropriate.

• Monitor compliance with each secondary agency’s policies, guidelines and procedures. Interpret investor guidelines and apply them to the development of products, underwriting and loan policies to ensure the saleability of loans in the secondary market. Assist in providing training to staff.

• Complete annual certifications with each investor agency.

• Assist in the preparation of the reports for loan sales to ALCO Committee and Senior Management on net position of forward commitments and settled sales.

• Maintain a working knowledge of core processing systems, FICS, Nautilus, T24, eFannieMae and Microsoft Office Desktop Applications in order to analyze mortgage portfolio and pricing trends, and execute loan sales.

• Maintain open communication and assist in the coordination of sales activities with Accounting, Mortgage Operations and Underwriting Departments to ensure saleable profitable loans.

• Assist as a liaison between UNFCU and investors.


• Interact with internal and external audit examiners to discuss loan sale history and risk analysis.

• Assist with roll out of new products.

• Support Sales and Operations staff with pricing scenarios.

Qualifications:

TYPE & AMOUNT OF EXPERIENCE:
• Bachelor’s degree or equivalent, plus 4 years of mortgage secondary marketing experience (FNMA, FHA), including lock desk.

TECHNICAL COMPETENCIES:
• Strong math and PC skills, with good knowledge of Microsoft Word, Excel and PowerPoint
• Strong overall knowledge of underwriting, quality control, compliance and contract obligations
• Intermediate level knowledge of Fannie Mae and other major investor underwriting requirements, pricing requirements, committing and delivery requirements

BEHAVIORAL COMPETENCIES:
• Excellent verbal and written communication skills and ability to work well independently
• Proficient in multi-tasking and prioritizing
• Ability to work in a fast paced environment

WORK ENVIRONMENT/CONDITIONS:
• Standard office conditions

In addition to any specific job requirements in connection with Bank Secrecy Act and/or OFAC (BSA), employee must (i) be aware of BSA matters commensurate with the position; (ii) report any suspicious activity to the manager or compliance department; and (iii) satisfactorily complete any required BSA training.