Secondary Market Coordinator

Job Title: Secondary Market Coordinator

All candidates should make sure to read the following job description and information carefully before applying.

Job Summary
Responsible for coordinating secondary market loan sales including conventional and government loans, as well as portfolio loans. This role is also responsible for creating loan products and respective pricing within Optimal Blue, as well as locking, extending, and re-locking loans, and committing loans to secondary market investors. Responsible for executing secondary market loan sales, including asset delivery and insuring for government loans. This position acts as a liaison between the Production and Servicing teams and is responsible for funding and booking all closed 1st mortgage loans and home equities. This position manages the Loans to be Funded and Loans Pending Sale reports to ensure timely and accurate deliveries to Secondary Market Investors. ** This is a hybrid/St. Louis role **

Job Responsibilities
The intent of this job description is to provide a representation of the types of duties and level of responsibilities required of this position and is not intended to be an exhaustive list of all responsibilities, duties, and skills. Team members may be directed to perform job-related tasks others than those specifically stated in this description.

Using budgetary guidance create and distribute the daily rate sheet for Real Estate Lending. Update Real Estate systems to ensure daily rates are accurately displayed. Using rate lock requests, confirm and lock all mortgage loans in accordance with budgetary guidance and mortgage loan sales strategy. Follows procedure and document retention requirements. Monitors secondary markets and updates daily rates as necessary. Executes loan sales strategy per management guidance by maintaining forward commitment pools, whole loan commitments and portfolio loan commitments.
Audits loan delivery transmission for errors prior to final transmission to Secondary Market Investors. Settles investor funding on shipped loans within prescribed time frames and transfers loans to appropriate investors via purchase advice when funds are received.
Prepares file for shipping in accordance with investor guidelines, acts as liaison with secondary market investor to resolve loan delivery issues and to complete timely delivery on Secondary Market delivery systems. Monitors the progress of perfecting special problem loans to correct errors or to collect missing documentation keeping management advised of same.
Manages the Loans Pending Sale report to ensure on-time Secondary Market Investor deliveries. At the direction of the Director of Secondary Market perform prefunding and third party reviews on real estate loans, along with new loan products or services to assess compliance with policies, procedures and applicable state and federal regulations.
Periodically reviews management and data system reports to validate accuracy and validity. Prepares the necessary reports noting exceptions to policy and originating branch/officer for review by management. Assists in the gathering of information for third party real estate reviews. Assist in various projects as needed.
Monitors reports to help management with pipeline reviews, account maintenance, compliance upkeep and other key management roles. Processes monthly secondary market reporting for sold loans. Retrieves daily reports from Secondary Market Investors and processes corrections. Provides RE Servicing Manager, Accounting and AVP with corrections and required adjustments to ensure timely and accurate balancing. Utilizes reports to maintain compliance with local, state and federal guidelines.
Utilize the product and pricing system to set up and maintain product and pricing standards. Properly utilizes system provider’s help desk for systems issues, requests and guidance. Ensures the system is set up and maintained to be compliant with all local, state and federal guidelines.
Responsible for the review and analysis of the HMDA data. Review and ensure compliance with all Real Estate related regulations.
Maintains direct communication with loan processors and title insurance companies and any other parties to the transaction to ensure receipt of complete and accurate final documents in a timely manner and in accordance with the Credit Union’s closing instructions.
Funds and completes the data entry for all funded loans into the mortgage servicing system. Performs post-closing compliance review on all closed mortgage loan files including but not limited to; verifies the data in the origination and servicing mortgage systems with the data in the loan file such as names, addresses, signatures, government monitoring information, legal descriptions, loan amount, rate, term, escrow, etc.
Promotes a positive relationship between the members (internal and external) and the Credit Union and understands that service delivery to members is the number one priority of the Credit Union
Must comply with applicable laws and regulations, including but not limited to, the Bank Secrecy Act, the Patriot Act, and the Office of Foreign Assets Control.
Regular and consistent attendance required.
Completes all other tasks, assignments or functions as assigned and/or required.

Required Qualifications
An equivalent combination of education, training, and experience will be considered.
Three years to five years of similar or related experience, including preparatory experience
High School degree or equivalent

Knowledge, Skills, and Abilities (KSA’s)
A representation of the knowledge, skills, and abilities necessary to perform this job competently.

A significant level of trust, credibility and diplomacy is required. In-depth dialogues, conversations and explanations with customers, direct and indirect reports and outside vendors can be of a sensitive and/or highly confidential nature. Communications may involve motivating, influencing, educating and/or advising others on matters of significance.

Work Environment
Environmental or atmospheric conditions commonly associated with the performance of this job’s functions.
Must be able to routinely perform work indoors in climate-controlled shared work area with minimal noise.

Physical Abilities
The physical demands described below are representative of those that must be met by an employee to successfully perform this job’s essential functions. Reasonable accommodations may be made to enable individuals with disabilities to perform essential functions.
Ability to work at a computer in a stationary manner up to 8 hours daily.
Perform primarily sedentary work with limited physical exertion and occasional lifting of up to 10 lbs. Must be capable of climbing / descending stairs in emergency situation.
Must be able to operate routine office equipment including telephone, copier, facsimile, and calculator. Must be able to routinely perform work on computer for an average of 6-8 hours per day, when necessary.
Must be able to work extended hours whenever required or requested by management. Must be capable of regular, reliable and timely attendance.
Must be able to perform job functions independently or with limited supervision and work effectively either on own or as part of a team. Must be able to read and carry out various written instructions and follow oral instructions. Must be able to speak clearly and deliver information in a logical and understandable sequence. Must be capable of dealing calmly and professionally with numerous different personalities from diverse cultures at various levels within and outside of the organization and demonstrate highest levels of customer service and discretion when dealing with the public. Must be able to perform responsibilities with composure under the stress of deadlines / requirements for extreme accuracy and quality and/or fast pace. Must be able to effectively handle multiple, simultaneous, and changing priorities. Must be capable of exercising highest level of discretion on both internal and external confidential matters.

Together Credit Union is an Equal Opportunity employer. The Credit Union complies with appropriate federal, state, and local laws and provides equal employment opportunities without regard to race, color, religion, gender, age, sexual orientation, gender identity, national origin, veteran status, disability, or any other protected status to all qualified applicants and employees. Together Credit Union is committed to a policy of non-discrimination and dedicated to providing a positive discrimination-free work environment.

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