Secondary Market Analyst

NIH Federal Credit Union
The Secondary Market Analyst will support the Mortgage Operations Manager and the Residential Lending team in all aspects of Secondary Marketing, from product development and investor management to the pricing, locking, selling and delivery of of loans to the to the investors.  

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Major Duties and Responsibilities

Mortgage Pricing

  • Responsible for setting up the daily mortgage rates and pricing for all mortgage products in accordance with the NIHFCU Pricing Guidelines, and updating all systems and website accordingly.
  • Monitor the financial markets movements and ensure the timely and accurate intraday pricing and rate changes, as needed.
  • Comparing investors’ pricing and tracking pricing variances to determine the best possible execution method.
  • Complete market surveys of interest rates, analyze pricing research on various products and competitors and make pricing recommendations.

Rate Locks

  • Process all new rate lock requests and revisions in a timely manner.
  • Ensure that all systems reflect accurate product parameters, pricing, rates and points and up to date lock information.
  • Extend rate locks, as needed, in the LOS and with the investors, track and report all extension fees paid

Pipeline Management

  • Actively monitor the pipeline of locked and committed loans to ensure:
  • Pull-thru levels remain above minimum threshold
  • Loans are funding within lock period
  • Locked loans are committed or allocated to the portfolio


Loan Sales & Delivery

  • Handle all aspects of the mortgage loans sales - from commitment management to selling, shipping, delivery and funding.
  • Commit loans to investors (Fannie Mae and Freddie Mac) as Best Efforts or Mandatory commitments in accordance with the NIHFCU Secondary Marketing Guidelines and Procedures
  • Actively monitor commitments with investors to ensure the loan information and pricing are accurate and manage expiring commitments
  • Manage the delivery of the original loan Notes and closed loan packages to the Investors
  • Funded loans are being delivered within sufficient time for investor purchase within commitment period
  • Obtain and upload pre-purchase conditions to Franklin American FAMC in a timely manner
  • Follow up with investors to ensure that the Notes and/or packages are received, suspense conditions are cleared, loan Notes are certified and loans are funding as scheduled 
  • Monitor loans scheduled to fund with investors, review purchase advices for accuracy, generate funding reports for management and accounting, and reconcile funding numbers when wires are received

Product Development

  • Assist the Mortgage Operations Manager with new product development efforts
  • Set up and configure new first mortgage and home equity loan product pricing parameters in the LOS and POS
  • Perform systems testing to ensure that the newly created products and pricing are correct
  • Work with marketing and remote services to ensure rates and loan terms are correct on website and any marketing materials, and advise of any revisions needed

Miscellaneous Tasks in Support of Residential Lending

  • Provide ongoing support to the Mortgage Operations Manager with projects and tasks, as needed, to support and further enhance the efficiency, productivity and customer service
  • Conduct research for new investors by reviewing the Investors’ products, pricing and guidelines in order to meet NIHFCU’s needs for new products and price
  • Process applications with new investors
  • Works with the Post-Closer to ensure files are complete, prior to delivery to FAMC 
  • Miscellaneous Tasks in Support of Residential Lending


Education and Experience

  • Candidate must have a minimum of 5 years residential mortgage lending experience with a focus on processing and/or secondary marketing. Experience as a Loan Originator is a plus
  • Demonstrate understanding of mortgage processing, underwriting and closing procedures.
  • Knowledge of conventional lending guidelines
  • Strong computer skills including a fundamental understanding of loan origination systems and Microsoft Office applications
  • Strong Excel skills required
  • Solid time management skills and the ability to organize prioritize and perform multiple tasks simultaneously
  • Ability to communicate clearly and effectively, both verbally and in writing, across a variety of audiences
  • Ability to analyze and comprehend complex financial data and provide financial alternatives
  • Professional and effective interpersonal skills
  • High School Diploma or equivalent (4-year college degree preferred)