AVP, Secondary Market Manager & Encompass Administrator

About This Role

This role is responsible for executing pricing strategies and secondary market loan sales, managing loan disclosure and closing activities, and acting as Systems Administrator for the Loan Origination System (LOS), Point-of-Sale (POS) and Product & Pricing Engine (PPE). The manager will also provide guidance and training in various loan processes and compliance, serving as the primary liaison with secondary market investors.

Responsibilities

• Oversee rate-lock, product development, post-closing, shipping, insuring, purchasing and the final trailing document submission
• Manage PPE (Optimal Blue) to provide borrower pricing that meets the Bank’s gain-on-sale margin and portfolio investment return goals
• Oversee loan change requests, reprice requests, and extension requests in accordance with MUSA guidelines to ensure output accuracy
• Provide support to loan originators and secondary market investors for pricing inquiries and post lock questions/inquiries
• Assist with generating daily rate file and uploading into various technology solutions
• Oversee loan funding and wire requests and the reconciliation of loan purchase advices
• Develop and monitor pricing and hedging strategies for residential loans
• Communicate internal pricing policies and procedures
• Understand pricing for all offered mortgage loan products
• Determine loan-level profit-loss figures
• Lead, manage, coach and counsel the operations team for peak performance
• Prepare accurate and timely performance appraisals
• Manage to the highest integrity of loan data. Prepare and submit the HMDA Loan Application Register (LAR) annually, or more frequently as required
• Stay abreast of the regulatory compliance environment as it pertains specifically to residential lending and banking in general, and is prepared to advance procedural changes as required

Requirements

• 5+ years of mortgage industry experience in managing first mortgage processing, secondary marketing and closing functions
• Current Certified Encompass Administrator status
• Proficiency with Optimal Blue and Consumer Connect (or other POS)
• Expert knowledge of Microsoft Office suite (Word, Excel, Outlook)
• Proven understanding and knowledge of residential lending and bank compliance regulations (RESPA, Truth In Lending Act (REG Z), HMDA, Right To Financial Privacy Act, Fair Credit Reporting Act (FCRA), Equal Credit Opportunity Act (ECOA), Fair Lending, US Patriot Act (OFAC), Bank Secrecy, Interagency Appraisal and Evaluation Guidelines, and Gramm-Leach-Bliley Act)
• In-depth knowledge of Fannie Mae and Freddie Mac underwriting requirements
• Previous experience with delivery of loans under wholesale and/or correspondent relationships

Qualifications

• Bachelor’s degree in business administration, finance or related field preferred or equivalent combination of coursework and experience
• Five or more years of mortgage industry experience in managing first mortgage processing, secondary marketing and closing functions is required.

Nice to Have

• Knowledge of the community bank operating environment

Skills

* Required skills

Benefits

Certifications