Mortgage Vice President of Secondary Marketing; BR 10- Mortgage Ops; 2.5.25
JOB SUMMARY: The functions performed by this position ensure that loan level rate lock-ins are properly managed within the pricing module of the loan origination system; Execute portfolio pricing structure; and perform analytics to ensure best execution of loan sales with minimal hedging risk. Key requirements also include monitoring agency pricing and updating rate sheets based upon tolerance for daily and intra-day changes; and developing metrics to define factors which lead to success in the areas of production, member service, efficiency, quality and compliance.
ESSENTIAL FUNCTIONS:
Evaluates, defines, and executes best pricing strategies, derivation of risk management analytics and historical data.
Expertise in Non-Conforming, FHA, VA, FNMA, and FHLMC loan products; plus comprehensive knowledge in AUS (DU/LP) underwriting findings, lock commitments and confirmation.
Responsible for mortgage valuation analytics, report development, testing, and feedback.
Performs other related duties as assigned.
Requirements
Manage and direct the daily activities of the Lock Desk. Provide support to staff on a daily basis including answering questions, handling issues/escalations, file review, guideline interpretation and support.
Propose recommendations for policy regarding rate lock-ins and pricing, and enforce resulting procedures.
Maintain reports of locked in loan positions and gain/loss summaries for sold loans.
Serve on Secondary Marketing Committee and report lock-in activity.
Manage lock-in decisions to ensure that loans are locked in with investors as requested and delivered within required timeframes.
Manage and enhance relationships with existing and new investors, such as Fannie Mae, Freddie Mac, FHA and VA., as well as correspondent/conduit buyers of loans and Private Mortgage Insurance companies.
Engage with underwriting, sales, quality control and operations to ensure salability of loans.
Identify and develop relationships with investors where non-conforming fixed loans could be sold.
Monitor agency pricing and update rate sheets based upon tolerance for daily and intra-day changes.
Develop proposal for rate structure with multiple tiers for discount and rebate pricing, combined with multiple lock-in terms.
Incorporate agency loan level price adjustments into Fannie Mae salable pricing structure.
Develop structure for long-term lock-ins, such as new construction.
Develop and monitor reports to evaluate results relative to expectations and manage to correct negative variances.
Develop, under the direction of the secondary marketing committee, policies and procedures for the minimization of risk and maximization of profits under a mandatory/bulk loan sale and appropriate hedge function for the bank.
Monitor and manage the hedge position daily, and intra-day, and adjust as needed
Report to president and secondary marketing committee all metrics relevant and related to the secondary marketing function, i.e. hedge coverage, pull through, etc, and make necessary recommendations to further limit bank risk or increase profitability.
Perform all duties inherent to a managerial role: interview and select qualified candidates for employment; train, monitor, coach, develop, and evaluate staff; prepare and administer performance evaluations; promote teamwork and cooperation within the mortgage division; identify training needs of the department and plan, coordinate, and schedule staff training opportunities.
Collaborate with other managers, within mortgage and across business lines, to enhance and/or improve customer service and promote a sales centric environment
Apply Now
ESSENTIAL FUNCTIONS:
Evaluates, defines, and executes best pricing strategies, derivation of risk management analytics and historical data.
Expertise in Non-Conforming, FHA, VA, FNMA, and FHLMC loan products; plus comprehensive knowledge in AUS (DU/LP) underwriting findings, lock commitments and confirmation.
Responsible for mortgage valuation analytics, report development, testing, and feedback.
Performs other related duties as assigned.
Requirements
Manage and direct the daily activities of the Lock Desk. Provide support to staff on a daily basis including answering questions, handling issues/escalations, file review, guideline interpretation and support.
Propose recommendations for policy regarding rate lock-ins and pricing, and enforce resulting procedures.
Maintain reports of locked in loan positions and gain/loss summaries for sold loans.
Serve on Secondary Marketing Committee and report lock-in activity.
Manage lock-in decisions to ensure that loans are locked in with investors as requested and delivered within required timeframes.
Manage and enhance relationships with existing and new investors, such as Fannie Mae, Freddie Mac, FHA and VA., as well as correspondent/conduit buyers of loans and Private Mortgage Insurance companies.
Engage with underwriting, sales, quality control and operations to ensure salability of loans.
Identify and develop relationships with investors where non-conforming fixed loans could be sold.
Monitor agency pricing and update rate sheets based upon tolerance for daily and intra-day changes.
Develop proposal for rate structure with multiple tiers for discount and rebate pricing, combined with multiple lock-in terms.
Incorporate agency loan level price adjustments into Fannie Mae salable pricing structure.
Develop structure for long-term lock-ins, such as new construction.
Develop and monitor reports to evaluate results relative to expectations and manage to correct negative variances.
Develop, under the direction of the secondary marketing committee, policies and procedures for the minimization of risk and maximization of profits under a mandatory/bulk loan sale and appropriate hedge function for the bank.
Monitor and manage the hedge position daily, and intra-day, and adjust as needed
Report to president and secondary marketing committee all metrics relevant and related to the secondary marketing function, i.e. hedge coverage, pull through, etc, and make necessary recommendations to further limit bank risk or increase profitability.
Perform all duties inherent to a managerial role: interview and select qualified candidates for employment; train, monitor, coach, develop, and evaluate staff; prepare and administer performance evaluations; promote teamwork and cooperation within the mortgage division; identify training needs of the department and plan, coordinate, and schedule staff training opportunities.
Collaborate with other managers, within mortgage and across business lines, to enhance and/or improve customer service and promote a sales centric environment
Apply Now