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Bluestone Bank · 4 days ago

AVP, Secondary Market Manager & Encompass Administrator

Bridgewater, MA

Full-time

Onsite

Mid, Senior Level

$100K/yr - $125K/yr

5+ years exp

Bluestone Bank is a trusted financial institution in Southern New England, dedicated to providing secure financial solutions for over 150 years. The Secondary Market Manager will execute pricing strategies, manage loan sales, and serve as the Systems Administrator for the Loan Origination System, ensuring compliance and efficiency in residential lending processes.

BankingFinancial ServicesLending

Responsibilities

Oversees rate-lock, product development, post-closing, shipping, insuring, purchasing and the final trailing document submission

Manages PPE (Optimal Blue) to provide borrower pricing that meets the Bank’s gain-on-sale margin and portfolio investment return goals

Oversees loan change requests, reprice requests, and extension requests in accordance with MUSA guidelines to ensure output accuracy

Provides support to loan originators and secondary market investors for pricing inquiries and post lock questions/inquiries

Assists with generating daily rate file and uploading into various technology solutions

Oversees loan funding and wire requests and the reconciliation of loan purchase advices

Develops and monitors pricing and hedging strategies for residential loans

Communicates internal pricing policies and procedures

Understands pricing for all offered mortgage loan products

Determines loan-level profit-loss figures

Works in a high pressure, team-oriented, and rapidly changing environment

Manages multiple projects concurrently and seamlessly, switching priorities as needed

Manages various research projects, including tracking and analyzing industry benchmarks

Analyzes and suggests system changes to increase efficiency and productivity

Leads, manages, coaches and counsels the operations team for peak performance

Prepare accurate and timely performance appraisals

Manage to the highest integrity of loan data. Prepare and submit the HMDA Loan Application Register (LAR) annually, or more frequently as required

Stays abreast of the regulatory compliance environment as it pertains specifically to residential lending and banking in general, and is prepared to advance procedural changes as required

Works with other areas of the bank, as required, to advance departmental and/or company goals

Other related responsibilities as assigned

Qualification

Certified Encompass AdministratorOptimal BlueResidential lending knowledgeMortgage industry experienceMicrosoft Office suiteTeam environment promotionRegulationsFannie MaeFreddie MacCommunity bank knowledge

Required

Bachelor's degree in business administration, finance or related field preferred or equivalent combination of coursework and experience

Five or more years of mortgage industry experience in managing first mortgage processing, secondary marketing and closing functions is required

Current Certified Encompass Administrator status and proficiency with Optimal Blue and Consumer Connect (or other POS) are required

Current, expert knowledge of the Microsoft Office suite, including: Word, Excel, and Outlook

Ability to understand the high-level objectives, not just task-oriented, and can execute accordingly

Proven understanding and knowledge of residential lending and bank compliance regulations, which include, but is not limited to RESPA, Truth In Lending Act (REG Z), HMDA, Right To Financial Privacy Act, Fair Credit Reporting Act (FCRA), Equal Credit Opportunity Act (ECOA), Fair Lending, US Patriot Act (OFAC), Bank Secrecy, Interagency Appraisal and Evaluation Guidelines, and Gramm-Leach-Bliley Act and other applicable regulatory requirements

Proven ability to foster and promote a team environment within a residential lending group must be demonstrated

In-depth knowledge of Fannie Mae and Freddie Mac underwriting requirements is essential, and previous experience with delivery of loans under wholesale and/or correspondent relationships is required