Secondary Market Analyst jobs in Massachusetts

Position: Secondary Market Specialist                              

Department: Loan Operations

Job Status: Full-Time                                                                      

FLSA Status: Non-Exempt     

Grade:  7                                                                                           

Reports to: Team Lead, Residential                           

Amount of Travel Required: Local Travel as Needed              

Positions Supervised: None

POSITION SUMMARY

Under the general supervision of the Residential Loan Servicing Team Lead. Performs a variety of Loan Servicing tasks primarily focused on the selling and servicing of the secondary market loan portfolio.

 ESSENTIAL FUNCTIONS

• Responsible for reporting and remitting secondary market loan activity daily, at cutoff and whenever necessary. Loan activity includes but not limited to payments, payoff, repurchase and delinquency.
• Daily duties for secondary market, including but not limited to, daily edits, draft report, NSF report and missing loan report in Freddie Mac. Monitoring the FHLB custodial account and wiring funds when appropriate.
• Daily reconciliation of the custodial account activity to the daily onBase report
• Once contracts are received pull notes; have signed by appropriate office and send to Bank of New York Mellon. Update all required fields in Bank’s loan operating system for sold notes.
• Pull statements from Freddie Mac for funding – reconcile – update all required fields in the loan operating system for sold loans.
• Assists with internal and external audits.
• Monthly and Bi-Monthly – report delinquencies to Freddie Mac – monthly reconciliation of custodial accounts  – upload data to Fannie Mae and reconcile Fannie custodial account – upload data to FHLB, wire and reconcile custodial account.
• Responsible for keeping abreast of all Secondary Market procedures and any changes. Complete all necessary trainings related to the secondary market.
• Posts new loans and modifications to the loan operating system for all loan types.
• Processes loan transactions and answers customer inquiries for all loan types.
• Performs additional tasks relating to loan servicing.
• Must complete BSA, AML, and other regulator and continuing education as assigned.
• Must adhere to all bank and regulatory policies and procedures specific to position.

POSITION QUALIFICATIONS

Competencies

• Analytical Skills                           
• Quality  
• Initiative
• Planning
• Organizational Skills
• Time Management

Education/Experience/Skills

• Secondary Market experience preferred.
• Knowledge of each operational aspect of the department.
• Excellent communication skills.
• Working knowledge of Microsoft Office (Word and Excel) required.
• Ability or organize, prioritize, delegate, meet deadlines and balance numerous tasks at the same time.

PHYSICAL DEMANDS

Physical Demands

Stand: O (Occasionally)

Walk: O (Occasionally)

Sit: C (Constantly)

Handling / Fingering: F (Frequently)

Reach Outward: O (Occasionally)

Reach Above Shoulder: O (Occasionally)

Climb: O (Occasionally)

Crawl: N (Not Applicable)

Squat or Kneel: O (Occasionally)

Bend: O (Occasionally)

Lift/Carry

10 lbs or less: F (Frequently)

11-20 lbs: O (Occasionally)

21-50 lbs: N (Not Applicable)

51-100 lbs: N (Not Applicable)

Over 100 lbs: N (Not Applicable)

Push/Pull

12 lbs or less: O (Occasionally)

13-25 lbs: O (Occasionally)

26-40 lbs: N (Not Applicable)

41-100 lbs: N (Not Applicable)

N  (Not Applicable)         Activity is not applicable to this occupation.

O  (Occasionally)             Occupation requires this activity up to 33% of the time (0-2.5 hrs/day)

F  (Frequently)                  Occupation requires this activity from 33%-66% of the time (2.5-5.5 hrs/day)

C  (Constantly)                  Occupation requires this activity more than 66% of the time (5.5 hrs/day)

Other Physical Requirements

None

Westfield Bank has reviewed this job description to ensure that essential functions and basic duties have been included.   It is not intended to be construed as an exhaustive list of all functions, responsibilities, skills and abilities.  Additional functions and requirements may be assigned by supervisors as deemed appropriate.