Secondary Specialist

Position Summary

The Secondary Specialist is responsible for overseeing the mortgage pipeline's pricing, delivery, and hedge execution. This role involves managing the Lock Desk, ensuring accurate and timely pricing for loan products, and assisting in the execution of secondary market strategies. The ideal candidate will collaborate closely with loan officers, underwriters, and secondary market investors to optimize the credit union's profitability and mitigate risk. A thorough understanding of mortgage lending, pricing strategies, and risk management is essential for success in this role.

Duties & Responsibilities

• Serve as the primary point of contact for all loan pricing and lock requests.
• Ensure timely and accurate pricing for all loan products, providing support to loan officers and other internal teams.
• Process lock, relock, and extension requests while ensuring compliance with internal policies .and investor guidelines.
• Resolve any pricing or lock discrepancies between internal teams and secondary market investors.
• Track and manage the mortgage pipeline to ensure adherence to pricing and
• hedging strategies.
• Collaborate with hedge advisory firm for performance of mortgage loan hedge.
• Monitor the market to identify opportunities to mitigate interest rate risk and optimize profitability.
• Reconcile loan pricing, investor commitments, and hedge positions to ensure alignment.
• Assist in the sale and delivery of loans to secondary market investors, including
• Fannie Mae, Freddie Mac, and private investors.
• Prepare loan packages for sale and ensure compliance with investor guidelines.
• Track loan commitments and loan sale proceeds.
• Monitor investor pricing, guidelines, and programs to ensure the credit union offers
• Generate and maintain reports on locked pipelines, pull-through ratios, and hedge
• performance.
• Analyze market conditions, pricing trends, and competitor offerings to provide strategic insights to senior management.
• Assist in the development and execution of secondary marketing strategies to maximize profit and mitigate risks.
• Provide detailed reporting on investor settlements, loan sale proceeds, and profit margins.
• Ensure that all secondary marketing and lock desk activities comply with federal regulations, investor guidelines, and internal policies.
• Maintain up-to-date knowledge of industry trends, regulatory changes, and investor updates.
• Assist in audits and regulatory reporting related to secondary marketing functions.

Skills & Qualifications

• Bachelor's degree in Finance, Economics, Business, or a related field. Relevant work experience may be considered in lieu of a degree.
• Experience with mortgage pipeline hedging, pricing models, and loan sales.
• 2 years of experience in secondary marketing, lock desk operations, or capital markets within the mortgage industry.
• Strong understanding of mortgage pricing, rate locks, and secondary marketing strategies.
• Proficiency with mortgage loan origination systems (LOS), secondary marketing software, and pricing engines (e.g., Optimal Blue, Encompass).
• Advanced analytical skills, with the ability to interpret data and provide actionable insights.
• Familiarity with GSE guidelines (Fannie Mae, Freddie Mac) and private investor programs.
• Strong analytical skills and excellent critical thinking skills.
• Strong oral and written communication skills.

This job description is intended to provide a high-level of general requirements for this position. It is not a complete statement of duties, responsibilities, or requirements. Other duties not listed here may be assigned as necessary to ensure proper operations.