Mortgage Strategy Support Assistant Manager, Full-Time, Hybrid Marlboro or Chelmsford MA

Mortgage Strategy Support Assistant Manager, Full-Time, Hybrid Marlboro or Chelmsford MA

Job Category: Mortgages

Requisition Number: MORTG005848

Location: Marlborough, MA 01752, USA

Job Details

Schedule: Monday - Friday 8:00 am - 5:00 pm

What You'll Do:

The Mortgage Strategy & Support Assistant Manager is responsible for complex/sensitive functions in mortgage technology, systems, analytics, secondary & capital markets including administration of loan, pricing, oversight of the hedging the process, monitoring fall-out and rate locks, identifying eligible loans for sale, and delivering committed loans to the proper investor. The incumbent will provide performance reporting, recommend process enhancement, and oversee products and pricing with various investors.

Essential Functions:

Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.

• Responsible for hiring, training, evaluating, developing, promoting, compensating, and disciplining subordinates within current policies and procedures established through Human Resources and within approved budget guidelines.
• Monitor the mortgage loan pipeline to optimize profits and minimize losses for the credit union. Determines market conditions for competitive pricing for loan funding and purchase. Ensures all secondary market operations are carried out in compliance with applicable regulations. Ensures committed loans conform to secondary market guidelines and all necessary documents are delivered with loan files.
• Oversee all support and administration functions for the Mortgage department technology systems for Operations, Originations, and Servicing. Ensuring implementation, maintenance, and enhancements are fully tested and deployment is seamless.
• Proactively anticipate business opportunities, and lead investigation, design, and execution of those initiatives - analyze solutions, build the business cases, influence stakeholders, make recommendations, and drive the execution of desired changes.
• Guide Mortgage Operations, Mortgage Services, and Mortgage Originations & Support on certain strategic initiatives and take the lead in others. Scope, plan, and structure work when applicable. Gain alignment with the operations leaders on timelines, implications, and key metrics.
• Monitors daily interest rate pricing and makes recommendations to management for any changes in daily rates necessary to limit the credit union's long-term interest rate risk. When interest rate changes are made incumbent will ensure all pertinent rate sheets and media are uploaded and convey the information to the appropriate departments for immediate implementation.
• Oversee the transmission and delivery of loan commitment and pool data into the FNMA/FHLMC selling systems. Serves as a line of communication with secondary market buyers for issues that arise regarding committed and sold loans. Seeks guidance from management in resolving complex issues.
• Handle pricing exceptions, renegotiations, and extended rate locks, maintenance, and reporting. Report all pricing exceptions to the appropriate manager for approval. Required to update/maintain appropriate policies and procedures to maintain compliance with secondary market guidelines and federal/state regulations.
• Oversee fall-out monitoring and reporting and make recommendations for appropriate hedge coverage based on market and pipeline performance. Work with third-party providers to ensure key performance indicators are being achieved.
• Ensures completion/timely remittance of all required documents necessary to complete loan sales. Provides weekly production activity report to management. Collaborate with the accounting group on TBA hedge and forward agency commitment positions, and proper accounting of all loan sales.
• Leverage pricing model and margin targets provided by senior management to create and publish daily rate sheets.
• Market surveillance and reporting. Monitor and analyze the real-time bond market to identify recommendations for immediate changes (positive and negative) to pricing and margins guidance. Assist competitive market research and data analysis related to interest rates for loans and variables to enhance pricing and financial forecasts. Prepare, analyze, and distribute pricing analysis/reports.
• Review and price (bid) bulk loan pools for both bulk purchases and securitizations, ensuring all pooling parameters are met.
• Manage Product & Pricing Engine (PPE) and information output. Contribute to the process of model and technology improvements across various analytic and database tools.
• Communicate with both internal and external business partners both verbally and in writing on topics and updated related pricing matters.
• Ensures all department Policies and Procedures are accurate and up to date.
• Perform other job-related duties as assigned by Manager(s).

What You'll Need:

• 5-7 years of leadership and related experience
• BA/BS Degree preferred or equivalent work experience
• Knowledge of State, Federal, and NCUA compliance regulations
• Knowledge of Secondary Marketing & Loan Delivery guidelines
• Preferred system experience: LOS/POS system, LPA/DU, product & pricing engine, mortgage servicing platform, and data warehouse.

What We Do:

DCU is the largest credit union headquartered in New England serving more than one million members in all 50 states. With over 1,900 team members, we strive to make DCU a great place to work with an excellent work-life balance and a community that cares.

DCU is an equal-opportunity employer, and we value diversity, inclusion, and equity at our company. We evaluate qualified applicants without regard to race, color, religion, age, sex, sexual orientation, gender identity, national origin, disability, veteran status, and other legally protected characteristics.

If you're applying for a job and need a reasonable accommodation for any part of the employment process, please send an email to careers@dcu.org and let us know the nature of your request and contact information. Please note that only those inquiries concerning a request for reasonable accommodation will be responded to from this email address.

DCU is not currently offering Visa transfer/sponsorship for this position.