Secondary Market Analyst II

POSITION SUMMARY

The Secondary Market Analyst II will be responsible for day to day management of locking mortgage loan rates as a part of our mortgage operation. This individuals primary responsibilities will be to accurately register and record rate lock information, understand and relay investor policies, and to thoroughly comprehend and convey the pricing for all mortgage products while maintaining a customer service focus in an extremely fast, multi-tasking, and deadline-driven environment.

DUTIES AND RESPONSIBILITIES

Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions of this position.

1. Review, process, lock, extend, and revise mortgage loan rate lock requests submitted by mortgage loan officers or operations team members.
2. Analyze and resolve associated operational issues associated with rate lock mismatches.
3. Provide firm guidance and support to the loan origination staff allowing them to focus on customer contact and analysis of new transactions.
4. Process and record rate lock modifications and ensure exact pricing while following investor guideline parameters.
5. Collaborate with sales, processing, underwriting, closing, correspondent counterparties, and management to ensure all loans in the pipeline are sold quickly.
6. Display a high level of attention to detail and accuracy, and ensure all functions are within compliance of corporate policies and RESPA.
7. Monitor and report on locked pipeline activity (i.e. lock expiration dates).
8. Research pricing requests and update system with and required pricing changes.
9. Assist Secondary Market Management with adjustments and suggested modifications to pricing engine with CompassPPE.

EDUCATION, EXPERIENCE, LICENSURE, AND COMPETENCIES

1. Minimum of 2 years job experience.
2. High school diploma, or equivalent education and experience; college degree in relative field preferred.
3. Knowledge of Encompass and other mortgage software strongly preferred.
4. Working knowledge of RESPA.
5. Basic underwriting, processor, and closing knowledge and terminology.
6. Highly motivated, ambitious, and driven to succeed.
7. Must be trustworthy, honest, and able to continuously display a high level of integrity.
8. Ability to work effectively in a team environment.
9. Strong attention to detail and accuracy.
10. Able to identify and resolve problems in a timely manner.
11. Able to understand and respond appropriately to basic inquires.
12. Able to read, write, and communicate using the English language sufficient to perform job functions.
13. Ability to use Company equipment in assigned area (including but not limited to telephone, copiers, fax machines, computers, internet, etc.).
14. Able to access, input, retrieve, and interpret information using applicable computer systems (including, but not limited to, Microsoft Word, Excel, Outlook, industry-specific computer software, etc.).
15. Able to multi-task (e.g., simultaneous usage of several applications, etc.).
16. Well-versed with keyboard shortcuts and able to identity new ways to complete a task in less time.
17. Relies on limited experience and judgment to plan and accomplish goals.
18. Works well under general supervision.
19. Able to handle deadlines and working within banking guidelines.
20. Compliance with all Bank Secrecy Act (BSA), Anti-Money Laundering (AML) laws, and Office of Foreign Asset Controls (OFAC) requirements is required. Employee must complete annual training in these areas.

WORK ENVIRONMENT

This job operates in a clerical office setting; climate-controlled surroundings with adequate lighting and little or moderate noise when in the office. This role routinely uses standard office equipment such as computers, phones, photocopiers, filing cabinets and fax machines.

PHYSICAL DEMANDS

This is largely a sedentary role; however, some filing and photocopying is required. This would require the ability to lift files, open filing cabinets, and bend or stand as necessary.

EXPECTED HOURS OF WORK

Days and hours of work are Monday through Friday, 8:30 a.m. to 5:00 p.m. Evening and weekend work may be required as job duties demand.

OTHER DUTIES

This position performs additional duties as assigned, given adequate guidance and resources. This Job Description is not designed to cover or contain a comprehensive listing of activities, duties or responsibilities that are required of the employee to perform this job. Duties, responsibilities and activities may change at any time with or without notice.

EOE D/V/M/F