Job: MORTGAGE SECONDARY MARKET SPECIALIST

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Title MORTGAGE SECONDARY MARKET SPECIALIST
Categories Back Office
Location Melville
Job Information

We are Long Island’s leading mortgage banker, located in Melville (Long Island), New York. We are proud to have approvals from all three agencies – FannieMae, FreddieMac and GinnieMae—as well as Reverse Mortgage HECM. We offer a team-oriented work environment, a competitive salary, paid time off, 401(k) and healthcare/dental coverage.

We are currently seeking a Secondary [Mortgage] Markets Specialist to join our Secondary Markets Team in our Melville, New York Corporate Office. This position reports to the Secondary

Markets Manager, and—essentially—will have responsibilities around the integration of Optimal Blue with Encompass, managing products within the Optimal Blue System (known as Optimal Advantage), selling loans to all three (3) agencies listed above, as well as trading mortgage-backed securities with primary dealers

Specific Responsibilities Include (but are not limited to):

  • Maintain investor rate sheets and daily upload to pricing engines
  • Confirm rate lock requests
  • Execute loan change requests
  • Enter manual locks for off-sheet products
  • Provide pricing for off-sheet products
  • Run loan pricing scenarios by phone and e-mail for loan officers and brokers upon request
  • Escalate scenarios and exception requests to underwriting/management as needed
  • Generate and issue wholesale rate indicator
  • Distribute rate sheets for off-sheet programs as needed
  • Execute rate locks with investors for best-effort delivery products

Required Qualifications:

  • Bachelor’s degree from a 4-year college or university in a business-related field (accounting or finance preferred)
  • At least 2 years of recent solid secondary market experience in a banking or mortgage-lending institution
  • Experience with Encompass360 Bankers Edition and Optimal Blue/Optimal
  • Advantage products strongly preferred.

Required experience:

  • Recent Secondary Markets for a Mortgage Banker: 2 years
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