Secondary Marketing Analyst

$47,840 - $74,880/Yr

Mega Capital Funding - Calabasas, CA

posted about 2 months ago

Full-time - Mid Level
Calabasas, CA
Credit Intermediation and Related Activities

About the position

Mega Capital Funding, Inc. is a well-established Residential Wholesale and Correspondent Mortgage Banker, currently experiencing growth. Our model is to be a consistently competitive lender in terms of products and pricing, while offering exceptional customer service. We are seeking a skilled and experienced Secondary Marketing Analyst to join our growing team! In this role, you will provide expertise and serve as a resource to all internal and external contacts regarding common practices for lock policies and procedures. You will be responsible for locking loans with investors and monitoring and maintaining the pipeline, researching and completing re-locks, lock revisions, and lock extension requests in a timely and professional manner. You will collaborate with underwriters to determine the viability and pricing of Non-QM exception request scenarios, monitor outstanding commitments and expiration dates, and extend, relock, or cancel as needed. Additionally, you will review and confirm rate lock requests, including original rate locks, renegotiations, relocks, extensions, and cancellations. Monitoring MBS market conditions throughout the day to anticipate the need for market-driven price improvements or worsening will also be part of your responsibilities. You will work closely with the Secondary Marketing Manager on GNMA pools/securitization, confirm daily TBA trades with broker dealers, reconcile and approve daily purchase advices, and coordinate with investors regarding corrections or discrepancies. Furthermore, you will assist the Secondary Marketing Manager with best execution loan sales as needed and create, maintain, and analyze Secondary Marketing related reports and data. Ensuring loans are compliant with all federal and state regulations (QM, Section 32, HPML, etc.) and assisting to resolve any issues will be crucial to your role.

Responsibilities

  • Provides expertise and serves as a resource to all internal and external contacts regarding common practices for lock policies and procedures
  • Locks loans with investors and monitors and maintains pipeline, researching and completing re-locks, lock revisions and lock extension requests in a timely and professional manner
  • Collaborates with underwriters to determine viability and pricing of Non-QM exception request scenarios
  • Monitors outstanding commitments and expiration dates and extends, relocks, or cancels as needed
  • Reviews and confirms rate lock requests including original rate locks, renegotiations, relocks, extensions, and cancellations
  • Monitors MBS market conditions throughout the day to anticipate the need for market driven price improvement or worsening
  • Works with Secondary Marketing Manager on GNMA pools/securitization
  • Confirms daily TBA trades with broker dealers
  • Reconciles and approves daily purchase advices, and coordinates with investors regarding corrections or discrepancies
  • Assists the Secondary Marketing Manager with best execution loan sales as needed
  • Creates, maintains, and analyzes Secondary Marketing related reports and data
  • Ensures loans are compliant with all federal and state regulations (QM, Section 32, HPML, etc.) and assists to resolve any issues

Requirements

  • Previous Lock Desk experience or a working knowledge of mortgage loan programs, guidelines, and pricing
  • High mathematical aptitude and data analysis skills
  • High proficiency in Excel
  • Strong attention to detail
  • Previous experience with agency or GNMA securitization a plus
  • Previous experience with TBA trading, pipeline hedging, or interest rate risk management a plus
  • Familiarity with MeridianLink(LendingQB) and/or MCT a plus

Benefits

  • 401(k)
  • Dental insurance
  • Health insurance
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