Secondary Market Administrator

Company Description

STCU is consistently rated one of the top-performing credit unions in the nation, and has been named one of Fortune Magazine’s Great Places to Work. We look for employees who have a strong desire to serve others, are lifelong learners, are committed to working hard, have a fun-loving attitude, and who want to make a difference in our members’ lives. We love people who share our core values: Joyfulness, generosity, belonging, goodness, and striving. We believe in being a force for good in the community, while helping members achieve their financial goals and dreams.

STCU offers excellent benefits: 
• Paid time off—plus 11 paid holidays!
• Medical, dental, vision and life insurance 
• Flexible schedules and remote-work opportunities
• Training and career development
• Success sharing plan
• 401(k) matching contributions
• Tuition reimbursement

An overview of the benefits can be found here or here. 
Salary range: $8,393.92 - $11,751.50 per month

Job Description

**This position is a hybrid position working from Spokane or Liberty Lake, Washington or Post Falls or Coeur d'Alene, Idaho. 

The Secondary Market Administrator develops and maintains the secondary market initiatives for the credit union by maintaining favorable relationships with our investor partners, coordinating the delivery of loan sales to maximize profitability, monitoring the interest rate risk position of real estate loan pipeline, making recommendations on pricing strategy and providing continued analysis of the real estate product portfolio.

Core Job Requirements/Outcomes

• Ensure accurate pricing is being delivered to our members by managing the loan pricing engine, monitoring all business rules within the pricing engine, reviewing investor interfaces, partnering with the Balance Sheet Strategist and providing guidance to the Secondary Market Specialist on the day to day lock desk activities.
• Administer the selling of loans into the secondary market to maximize profitability for the credit union by determining the appropriate investor, delivery method, delivery timeframe and monitoring of pipeline tracking and loans committed for sale.
• Maintain a competitive real estate product mix by providing continued analysis of the real estate market, doing product and rate shopping of market peers, staying informed of product offering from our investor partners and researching new product ideas as directed by the Real Estate Lending Administration Manager & Real Estate Leadership.

Other Essential Functions

• Manage the interest rate risk position on all real estate loans as well as maintain adequate secondary market forward coverage for all saleable loans.
• Ensure compliance with real estate mortgage pricing, rate locks, investor reporting and secondary market requirements, federal and state regulations and credit union policies and procedures.
• Provide strategic direction and leadership for the secondary market team. Ensure that all loans are delivered and sold according to the standards established by the credit union and external investors.
• Prepare monthly reports and conduct analyses including, but not limited to, profitability, product competitiveness, lock desk and loan shipping efficiencies and various senior leadership requests.
• Collaborate with the Real Estate Management on product development and pricing exceptions.
• Maintain relationship with Accounting and Servicing as the lead in system collaboration.

Qualifications

Education: Bachelor’s degree or equivalent experience required.

Job Experience: A minimum of five years’ experience in real estate lending with knowledge of the loan origination process, mortgage pricing and secondary market with preference given to Freddie Mac background (preferably in a credit union environment).

Software Skills: Experience in navigating lending origination systems, with preference given to specific experience in Encompass and Optimal Blue, proficient knowledge of MS Office programs including Outlook, Word, Excel and Teams.

Physical Demands: Must be able to regularly talk, hear and operate a computer, keyboard and mouse and occasionally lift, pull/push and carry up to 10 pounds with accommodations.

Work Conditions: Exposure to constant or intermittent sounds at a low or moderate level consistent with an office setting. Exposure to high-stress, fast-paced, deadline-oriented environment.

Additional Information

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