Onslow Bay is a wholly-owned subsidiary of Annaly Capital Management, Inc. (“Annaly”), the largest mortgage REIT in the world that has been listed on the New York Stock Exchange for over 25 years, and has been active in acquiring expanded credit residential whole loans since 2016 and mortgage servicing rights (MSR) since 2021.

Onslow Bay Financial LLC (“Onslow Bay”) is a preferred partner to mortgage originators and other mortgage industry participants. Onslow Bay invests in residential mortgage assets within the securitized product and non-Agency whole loan markets. Onslow Bay is a preeminent correspondent aggregator that purchases closed, funded residential whole loans from an expansive network of approved originator partners, aggregating nearly $5 billion in expanded credit loans since inception in April 2021 through September 30, 2023, and is also a programmatic securitization sponsor of new origination, residential whole loans with 53 deals comprising nearly $21.0 billion of issuance since the beginning of 2018.

Role Summary/Purpose

Annaly is seeking an Onslow Bay Credit Analyst (Associate or VP level) who will be tasked with partnering with our correspondent originators to facilitate the efficient pipeline flow and management of the Onslow Bay correspondent channel.

The candidate will be a part of a team that is responsible for handling direct originator communications pertaining to exception/scenario requests, guideline clarifications, loan scenarios and general matters surrounding post close diligence.

The ideal candidate would have 5 years of relevant credit experience in the residential mortgage whole loan market, preferably with experience and the ability to manage post close due diligence with TPRs, make credit decisions/help assist the Onslow Bay scenario desk, closely interact with our correspondent partners and monitor market underwriting guidelines.

Essential Responsibilities

• Main point of contact in conjunction with sales coverage for specific originators to ensure the loans our correspondents lock and deliver are reviewed for post close diligence in a timely manner, issues or exceptions are understood and that loans are able to be cleared for funding are done so in a timely and efficient manner

• Perform originator guideline reviews and report to team members regarding changes and enhancements and how they fit or do not fit into the Onslow Bay process and or any defined outliers of that process

• Review credit exception requests/scenarios with the ability to determine to accept or deny a request as well as placing conditions if applicable

• Monitor market guidelines and recommend enhancements to Onslow Bay’s post-close process

• Ability to effectively communicate Onslow Bay underwriting guidelines regarding originator/LO training

Qualifications/Requirements

Basic Qualifications:

• 5 years of experience in whole loan underwriting, collateral, funding and post close review process

• Non-Agency lending experience preferred (Non-QM, DSCR, Cross Collateralized, etc.)

• Bachelor’s Degree required

Desired Characteristics:

• Ability to manage multiple projects at a time and prioritize accordingly

• Ability to effectively communicate, both written and verbally, with Senior Management regarding the progress and results of projects and initiatives

• Ability to work effectively under time constraints

Eligibility Requirements:

• Must be willing to work in Dallas, TX on-site three days a week.

• Must be willing to submit to a background investigation

• Must have unrestricted work authorization to work in the United States

• Must be willing to work additional hours as needed to complete deadline driven projects

Annaly is committed to equal employment opportunity and providing reasonable accommodations to qualified candidates and employees pursuant to applicable law. We value and encourage diversity and solicit applications from all qualified applicants without regard to race, color, gender, sex, age, religion, creed, national origin, ancestry, citizenship, marital status, sexual orientation, physical or mental disability, medical condition, military and veteran status, gender identity or expression, genetic information, or any other characteristic protected by federal, state, or local law. If you require reasonable accommodation as part of the application process, please contact our Human Resources department.