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Secondary Market Specialist

Summary:
Under the direction of the Vice President, Secondary Market and Lending Systems Manager, performs a variety of secondary market and accounting duties in support of the secondary market function in compliance with established Bank policies and procedures.
Performs a variety of critical daily processing activities related to secondary market pipeline management and loan sales including but not limited to: Rate Lock Processing, Rate Sheet Processing, Loan Shipping, and Loan Sale Funding.
Responsibilities:
Rate Lock Processing:
Processes daily Loan Registration/ Rate Lock requests and insures all activity is done in accordance with Bank risk management policies, procedures and investor requirements. Ensures all registrations are processed in the correct systems, and performs daily reconciliation of all requests. Notifies appropriate team members for required investor registrations resulting form rate lock requests.
Rate Sheet Processing:
Imports current investor pricing on a daily and as needed basis from multiple sources and generates Notional Analysis report from the Banks secondary market risk management system for review. Prepares rate sheet(s), including calculation of accurate APRs based on Management's pricing determinations, and distributes to appropriate parties. Uploads current rates to Bank's internet lending application (Mortgagebot).
Loan Shipping:
Creates loan sale data files for submission to GSE Investors (Fannie Mae, Freddie Mac). Validates shipping data for compliance with the Uniform Loan Data Delivery requirements of the GSEs. Researches data discrepancies with appropriate RCL staff to ensure accuracy of loan level data. Performs pool shipping functions on both the Bank and Investor systems. Prepares document packages for delivery to Investors.
Loan Sale Funding:
Processes funding packages from Investors. Applies funds received from investors to appropriate general ledger accounts, and reconciles Bank systems to Investor fundings. Investigates any funding discrepancies and processes appropriate data modifications or documentation as required. Files and maintains Pool and Loan level documentation as required by regulatory, Investor, and Bank policy.
Other:
Coordinates transfer of the loan sale and funding function from Secondary Marketing to Loan Operations. Will also assist department in monthly G/L and fee reconciliations, and various audit preparations.
Qualifications:
Associates degree, or equivalent professional experience.
At least two years related experience.
Ability to manage multiple priorities.
Ability to work accurately.
Ability to communicate in a precise and accurate manner.
Ability to communicate with accounting and operation people as well as sales people.
Ability to be or become proficient in use of Excel, and other Bank systems.
Ability to learn various web based systems.
Must have cyber security awareness to protect the digital environment, the Bank, and customers.

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