Mortgage Loan Secondary Market Specialist

Description

Title: Mortgage Loan Secondary Market Specialist

Department: Mortgage Lending

Reports To: Associate Vice President of Mortgage Lending

Job Grade: 8

FLSA: Non-Exempt                                                                                                           Last Modified: 3-14-2025

It’s a Job … Only better!

At UKFCU, we’re more than a Credit Union – we’re a community, and we’ve been proudly serving our members since 1937! As a rapidly growing, not-for-profit organization, we’re dedicated to making a real difference in the lives of our members and employees alike. If you’re looking for a workplace where you can grow, make an impact, and have fun while helping others, UKFCU is the place for you!

Why This Role Matters

As a Mortgage Loan Secondary Market Specialist, you will play a vital role in ensuring that closed loans are efficiently delivered to investors or booked into the core system. Your expertise in mortgage processing, investor requirements, and compliance will help streamline operations, ensuring accuracy, regulatory adherence, and smooth transactions. Your work will support both internal teams and external stakeholders, directly impacting the efficiency and financial success of the organization.

What You’ll Do

Loan File Review & Delivery:

• Ensure all closing documentation is accurate, complete, and compliant before delivery to investors.
• Communicate with Mortgage Loan Officers, Closing Attorneys, and borrowers to obtain any missing or incorrect documents.
• Complete required fields in the loan origination software to properly close applications.
• Review and complete Home Mortgage Disclosure Act (HMDA) fields in the loan origination system.
• Scan and image closed loan packages within the loan origination software.
• Deliver closed loan files to appropriate investors or submit loans for booking into the core system.

Rate Lock & Compliance Management:

• Complete rate locks upon receipt of fully executed rate lock agreements.
• Process rate lock extensions as necessary.
• Ensure all documentation obtained throughout the loan life cycle is properly imaged within the credit union’s software systems.

Withdrawn & Denied Applications Processing:

• Review withdrawn and denied applications, ensuring necessary fields are updated in the loan origination software.
• Confirm that all required documentation is present in the file before finalizing.
• Complete and deliver the Notice of Adverse Action for denied files in compliance with regulations.
• Serve as a backup to the Mortgage Loan Application Specialist as needed.

Compliance & Operational Support:

• Maintain strict confidentiality of member and employee information.
• Ensure adherence to UKFCU policies, board-established guidelines, and regulatory requirements.
• Assist in resolving member and employee concerns related to mortgage loan processes.
• Stay informed on industry trends, investor requirements, and regulatory updates.

Qualifications

Who You Are

Experience & Education

• One to two years of similar or related experience required.
• High school diploma or equivalent experience required.
• Strong understanding of federal and state mortgage regulations.

Skills & Strengths

• Exceptional attention to detail and accuracy.
• Strong ability to analyze loan documents and identify discrepancies.
• Excellent communication and problem-solving skills.
• Ability to work independently while managing multiple tasks and deadlines.
• Proficiency in loan origination software and Microsoft Office applications.

Key Traits

• Professionalism in all interactions.
• Integrity in decision-making and compliance practices.
• Commitment to teamwork and collaboration.
• Accountability for meeting performance goals and deadlines.
• Adaptability to changing policies and regulatory requirements.

What’s In It for You?

• Competitive salary and industry-leading benefits.
• Opportunities for professional growth and leadership development.
• A chance to make a lasting impact on our members and the organization’s future.

Legalese

Equal Opportunity Employer
UKFCU is an Equal Opportunity Employer. We celebrate diversity and are committed to creating an inclusive environment for all employees. Employment decisions are made without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, age, disability, genetic information, veteran status, or any other characteristic protected by applicable law.

At-Will Employment
Employment with UKFCU is deemed “at-will,” which means that either you or the company may terminate the employment relationship at any time, with or without cause or notice, unless otherwise provided by law.

Physical and Cognitive Demands
This role requires a blend of physical activity and mental focus to effectively perform its essential functions. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions of this role. Key physical activities include sitting, standing, walking, and occasional lifting (up to 25 pounds). You’ll also use your hands for various tasks, reach with your arms, and engage in conversations. Vision requirements include the ability to focus, perceive depth, and distinguish colors. Cognitive abilities essential for this role include judgment, auditory perception, memory, reasoning, and occasional persuasion.

Work Environment
You’ll primarily work indoors in a comfortable, climate-controlled office setting. The noise level is typically moderate, ensuring a focused yet dynamic work environment. Reasonable accommodations will be provided as needed to support an inclusive workplace.

This job description provides a general overview of the responsibilities and expectations for this role. It is not a comprehensive list of tasks, and employees may be asked to take on additional duties to support team success.

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Applications are only accepted through our online application system. However, if you need assistance with any part of the application process or are unable to apply online because of a medical condition or disability and need an accommodation, please contact recruiting@ukfcu.org to let us know the nature of your request. Please note, UKFCU accepts only employment applications that are complete and received by the Office of Human Resources by the specified deadline for each opening.

This position allows for an optional hybrid work arrangement which includes a combination of both in-office and remote work arrangements. (Maximum of two days remote, three days in-office). To be eligible for the program, employees must complete a minimum of 90 days of continuous, regular employment, be in good standing, and submit a formal hybrid work application prior to being eligible for hybrid work, pending supervisor approval. Work schedules will be established by the employee's supervisor according to business needs. Working locations and schedules may be altered at management discretion.

Salary : $25 - $26