Secondary Market Analyst administers all secondary mortgage market duties that aid in the selling and purchasing of loans. Analyzes mortgage loan portfolios, securities, and mortgage-related investments and considers market trends and economic conditions to evaluate the risk and return of a loan sale or purchase. Being a Secondary Market Analyst creates reports and models to forecast asset performance and works with internal stakeholders to make recommendations. Complies with secondary market regulations and company protocols. Additionally, Secondary Market Analyst may require a bachelor's degree in a related area. Typically reports to a manager. The Secondary Market Analyst occasionally directed in several aspects of the work. Gaining exposure to some of the complex tasks within the job function. To be a Secondary Market Analyst typically requires 2 -4 years of related experience. (Copyright 2024 Salary.com)
The Secondary Market Analyst’s primary responsibility is to monitor the lock desk email. This entails locking loans with the necessary investors and answering any lock scenario questions in a timely and accurate manner. Lock loans via emailed requests and track all lock expiration dates for correspondent and delegated channels. Verify lock price, investor, and loan level pricing adjustments (LLPA) on all lock requests. Provide appropriate pricing to Mortgage Loan Originators based on different scenarios. Reprice locked loans based on applicable changes throughout the loan process. Follow up on expiring locks and extend or cancel as needed. Input data accurately and efficiently into Loan Origination System. Stay informed of investor requirement changes and ensure adherence to all applicable guidelines. Perform related duties as assigned/required.
Education/Skills:
Minimum HS graduate, some college/college degree desirable.
Work Experience:
2-3 years' experience working in secondary mortgage market positions and demonstrate knowledge and ability to perform secondary marketing requirements, be proficient in computer skills and adaptable to a changing technical environment.
Physical Demands:
This position requires sitting at a desk for long periods of time and operating a computer, ability to lift files, open filing cabinets, bending, stooping or standing as necessary.