The Manger, Secondary Market is responsible for sourcing investors and managing ongoing relationships including program and pricing changes including lock desk functions while managing to the credit union's market and financial goals. Manages the balance between offering competitive products with financial and market goals through investor relations and internal product development and committees. Responsible for the coordination of the financial management of premiums, fees, and profitability of the mortgage loan products as well as the daily operations of the lock desk team.
TASKS, DUTIES, FUNCTIONS:
* Proactively develops and maintains investor relationships, programs, and tools.
* Partners with the Home Loans Management team in the oversight of pipeline management, the execution of loan deliveries and mortgage loan product development. Manages the timely delivery of loan production to any third party investors.
* Lead initiatives to expand and manage product/program offerings, pricing strategies and the deployment of credit and eligibility guidelines.
* Maintain a thorough understanding of state and federal laws and regulations related to credit union compliance including bank secrecy and anti-money laundering laws appropriate to the position.
* Foster a positive and engaging work environment for each team member by promoting skill development, coaching for improvement and growth, inspiring others through your words and actions, ensuring positive employee morale throughout Golden 1, and embracing our mission, vision and core values.
* Works in tandem with the Mortgage Operations and Underwriting Managers to provide effective oversight of all compliance and investor policy adherence.
* Monitor compliance with each secondary agency's policies, guidelines and procedures. Interpret investor guidelines and apply them to the development of products, underwriting and loan policies to ensure the sale ability of loans into the secondary market.
* Oversees all pricing functionality including but not limited to rate locks, rate lock extensions, margin maintenance, reporting, post-closing activities (shipping and insuring), and setting/publishing daily loan pricing information.
* Manage margins and rates on a daily basis within the guidance of ALCO and the Chief Investment Officer to ensure maximum profitability for the credit union.
* Stay informed of current trends in mortgage lending and market factors affecting mortgage lending and the secondary market.
* Work effectively across the organization to ensure compliance with corporate and risk governance policies, procedures, and limits.
* Maintain a thorough understanding of state and federal laws and regulations related to credit union compliance including, RESPA, HPML, HOEPA, HCML, bank secrecy and anti-money laundering laws appropriate to the position.
PHYSICAL SKILLS, ABILITIES, AND EXERTION UTILIZED IN THE PERFORMANCE OF THESE TASKS:
* Effective oral and written communication skills required to interact with staff, management and business partners.
* Must possess sufficient manual dexterity to skillfully operate an on-line computer terminal and other standard office equipment, such as financial calculators, personal computer, facsimile machine and telephone.
ORGANIZATIONAL CONTACTS & RELATIONSHIPS:
* INTERNAL: Mortgage lending, accounting & finance, Chief Investment Officer and management
* EXTERNAL: Third party vendors including investor, financial industry peers and governmental agencies
* EDUCATION: Bachelor's degree or equivalent experience, MBA preferred
* EXPERIENCE: 5 years secondary market management
* Exceptional analytical skills.
* Strong financial analysis.
* Current working knowledge of mortgage industry including investors.
* Exceptional knowledge of FNMA/FHLMC-Secondary Market and FHA.
* Strong oral and written communication skills
* Working knowledge of financial calculators, personal computer, copier, facsimile, etc.
* Prolonged sitting throughout the workday with occasional mobility required.
* Corrected vision within the normal range.
* Hearing within normal range. A device to enhance hearing will be provided if needed.
* Ability to lift 15lbs. as may be required.
* Occasional movements throughout the department daily to interact with staff, accomplish tasks, etc.
1) A valid California driver's license and a clear driving record are required.
Equal Opportunity Employer Minorities/Women/Protected Veterans/Disabled