SESLOC Federal Credit Union
  • San Luis Obispo, CA, USA
  • Salary
  • Full Time

Medical, Dental, Vision, Life, ADD, LTD, Flex 125, Vacation, Sick, Holidays, 401(k) + Match, great employee work environment

The Secondary Market manager will provide leadership related to the Secondary Market functions to support the strategic objectives and goals of the credit union. Oversee the administration and operation of Secondary Market policies, programs and systems. Work collaboratively to achieve timely approval, closing and delivery of loans to the secondary market by established deadlines, while remaining compliant with all regulations, guidelines and secondary market standards.

  • Collaborate in the management of the interest rate risk on mortgages originated for sale to the secondary market as well as for mortgages in the portfolio to ensure rates are priced competitively and profitability is maximized on sold loans.
  • Manage the accounting, remitting and reporting of mortgage proceeds to secondary market investors and ensure we service, report and remit in accordance with investors established policies and guidelines.
  • Maintain effective relationships and approval with Freddie Mac, Fannie Mae, VA and other secondary market investors and stakeholders that purchase our sold mortgages. Manage the identification and approval process for sourcing and rolling out new investors, as well as researching new methods for selling mortgages to mitigate risk and maximize profitability.
  • Direct and oversee the rate lock desk. Ensures compliance with established underwriting guidelines and agency/investor delivery requirements.
  • Work collaboratively with residential mortgage managers to manage the pipeline and ensure rate lock and delivery dates are met with secondary market investors.
  • Assist residential leadership with the education, training and support secondary market underwriting staff with secondary mortgage programming. This role is very fluent with the programming and criteria that is built into the pricing of the programming and what investor overlays and requirements are for delivery of eligible loans
  • Consistently implement best practices to maximize efficiency and profitability. Attains established individual, department and credit union goals.
  • Other duties as assigned.

Education and Experience: A high school diploma and minimum of 7 years' experience in mortgage compliance and secondary market activities or equivalent combination of education/experience, including time spent in preparatory positions. College degree preferred. Advanced knowledge of Credit Union industry, laws, regulations and mortgage lending obtained by five (5) or more years' experience as a manager or supervisor in a financial institution. Register with the National Mortgage Licensing System & Registry as a Mortgage Loan Originator (MLO); maintain annual registration requirements. Credit Union or financial institution experience preferred.


SESLOC Federal Credit Union
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