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Our Secondary Market & Residential Quality Control Analyst position is an opportunity for individuals with 2-4 years of experience in secondary market activities or a related business field. Newtown Savings Bank is seeking a strong critical thinker, with time-management skills, who is responsible for overseeing the pricing desk, acts as the loan pricing liaison to the Mortgage Bankers, and administers the Residential Mortgage Quality Control (QC) Program to include mortgage loan prefunding audits, a portion of post-closing audits, post-closing Investor audits, select post-closing discretionary audits and other QC functions, as necessary. This is an onsite opportunity at our Corporate office in Newtown, CT. The role has a remote option of one day per week.

PRIMARY RESPONSIBILITIES

Secondary Market Area:

+ Working in conjunction with the Secondary Markets, Closing & Post Closing Manager performs mortgage pipeline management, including hedging, to minimize market interest rate risk exposure. Working collaboratively with Secondary Markets, Closing & Post Closing Manager to define and carry out pricing and delivery strategy to achieve stable, targeted profit margins.

+ Determine market conditions for competitive loan pricing. Monitor daily interest rate pricing and make changes to interest rates as necessary to limit the Bank’s long term interest rate risk.

+ Oversee the Pricing Desk functionality including Product eligibility, Pricing Engine and communication on rate movements.

+ Perform pricing on mortgage scenarios and establish rate locks for loans sold to the GSE’s, Investors, or portfolio.

+ Work with mortgage bankers on pricing issues, off-sheet pricing and other pricing questions.

+ Prepare daily rate sheets and upload to various systems.

+ Commit loans for sale to the Secondary Market and other investors. Ensure that there is appropriate coverage for pipeline loans eligible for sale.

+ Oversee the secondary market function utilizing Encompass system functionality to monitor loan sales, delivery dates, gains/losses on sale and pipeline coverage.

+ Complete all necessary extension, pair-off and over-delivery fees as needed.

+ Oversee the timely delivery of all loan documentation to the Investor and work with Post Closing to resolve any delivery issues that may arise.

Residential Quality Control:

+ Maintain operational knowledge of secondary market eligibility requirements and overall loan quality thus increasing the quality of loan delivery and decreasing the potential for financial liability or loss to the Bank in the form of required Investor repurchases.

+ Responsible for the implementation of all aspects of the Secondary Market Quality Control Manual, including, but not limited to review and delivery of documentation to our third party quality control vendor, investor audit requests as well as Retail Lending department requests.

+ Ensure that departmental procedures and secondary Market Quality Control Manual are current, reviewed annually, updated as processes, secondary market requirements, and laws and regulations change, and are developed as needed.

+ Act as liaison with auditors to coordinate audits of the Bank’s QC Program, including responding to questions and findings. Establish and maintain a process for reviewing the work of external audit consultants to ensure that requirements and guidelines are applied consistently, and that the review results accurately reflect the quality of loan originations. Report findings to Management.

POSITION REQUIREMENTS

+ College degree, or a minimum of 2-4 years’ experience in Secondary Market activities or other related business field.

+ Experience managing investor relationships i.e. (Fannie Mae, Freddie Mac)

+ Familiarity with mortgage products and the loan origination process.

+ Strong critical thinking, problem solving and creativity

+ Effective oral and written communication.

+ Strong time-management skills and the ability to multi-task. Must be able to prioritize responsibilities.

QUALIFICATIONS

To perform this job successfully, an individual must be able to perform each essential duty satisfactorily. The requirements listed above are representative of the knowledge, skill, and/or ability required. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.

Any physical demands or work conditions described here are representative of those that must be met by an employee to successfully perform the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.

Full time employees also receive a complete benefit package including a generous 401(k), medical benefits, paid time off, and short- and long-term disability programs.

Newtown Savings Bank is an equal opportunity and affirmative action employer regardless of race, gender, disability status, protected veteran status. All qualified applicants will receive consideration for employment without regard to race, color, religion, gender, age, marital status, national origin/ancestry, sexual orientation, gender identity, disability status, protected veteran status, or any other legally protected status.