As of February 01, 2025, the average annual salary for a Mortgage Secondary Market Specialist in Grand Rapids, MI is $68,800. Salary.com reports that pay typically ranges from $55,600 to $80,400, with most professionals earning between $43,582 and $90,961.
| Annual Salary |
Monthly Pay |
Weekly Pay |
Hourly Wage |
|
| 75th Percentile | $80,400 | $6,700 | $1,546 | $39 |
| Average | $68,800 | $5,733 | $1,323 | $33 |
| 25th Percentile | $55,600 | $4,633 | $1,069 | $27 |
An entry-level Mortgage Secondary Market Specialist with under 1 year experience makes about $67,124. With less than 2 years of experience, a mid-level Mortgage Secondary Market Specialist makes around $68,439. After 2-4 years, the Mortgage Secondary Market Specialist pay rises to about $71,023. Those senior Mortgage Secondary Market Specialist with 5-8 years of experience earn roughly $71,540, and those Mortgage Secondary Market Specialist having 8 years or more experience are expected to earn about $71,884 on average.
| Levels | Salary |
|---|---|
| Entry Level Mortgage Secondary Market Specialist | $67,124 |
| Intermediate Level Mortgage Secondary Market Specialist | $68,439 |
| Senior Level Mortgage Secondary Market Specialist | $71,023 |
| Specialist Level Mortgage Secondary Market Specialist | $71,540 |
| Expert Level Mortgage Secondary Market Specialist | $71,884 |
| Entry Level | 2% |
| Mid Level | 1% |
| Senior Level | 3% |
| Top Level | 4% |
| Experienced | 4% |
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Each competency has five to ten behavioral assertions that can be observed, each with a corresponding performance level (from one to five) that is required for a particular job.
Initiative: Taking decisive action and initiating plans independently to address problems, improve professional life, and achieve goals.
Financial Risk Management: Financial risk management is the practice of economic value in a firm by using financial instruments to manage exposure to risk: operational risk, credit risk and market risk, foreign exchange risk, shape risk, volatility risk, liquidity risk, inflation risk, business risk, legal risk, reputational risk, sector risk etc. Similar to general risk management, financial risk management requires identifying its sources, measuring it, and plans to address them. Financial risk management can be qualitative and quantitative. As a specialization of risk management, financial risk management focuses on when and how to hedge using financial instruments to manage costly exposures to risk. In the banking sector worldwide, the Basel Accords are generally adopted by internationally active banks for tracking, reporting and exposing operational, credit and market risks.
Mortgage Lending: A mortgage loan is a secured loan that allows you to avail funds by providing an immovable asset, such as a house or commercial property, as collateral to the lender.
| Skill | Salary | Demand |
|---|---|---|
|
Front Office
|
$80,496 |
17%
|
|
Analytical Skills
|
$78,432 |
14%
|
|
Back Office
|
$77,056 |
12%
|
|
Trading
|
$76,368 |
11%
|
|
Microsoft Office
|
$76,368 |
11%
|
|
Communication Skills
|
$75,680 |
10%
|
