Secondary Market and QC Manager

SUMMARY DESCRIPTION

The Secondary Market & QC Manager is responsible for ensuring all residential mortgage loans prepared for sale into the secondary market meet investor, agency, and regulatory requirements. This role focuses on pre-sale and post-sale quality control reviews to safeguard loan salability, minimize repurchase risk and maintain compliance with internal policies and industry regulations. The position also handles loan pricing, investor delivery, and program expansion for optimal investor and pricing.

ESSENTIAL JOB FUNCTIONS

• Conduct detailed pre-sale audits of loan files to verify accuracy, completeness, and investor eligibility.
• Review credit, income, asset and collateral documentation to confirm underwriting decisions comply with investor guidelines.
• Identify and document deficiencies, discrepancies, or missing documentation, coordinate with Residential Lending department for resolution.
• Perform post-closing QC reviews to ensure loans sold meet contractual obligations and mitigate buyback exposure
• Price residential mortgage loans and manage rate lock pricing in alignment with secondary market conditions.
• Execute loan sales to investors ensuring optimal pricing and execution.
• Coordinate delivery and shipping to investors.
• Maintain up-to-date knowledge of investor requirements regulatory changes, and industry best practices
• Prepare QC and secondary market reports for management outlining findings, trends and recommendations
• Expand program to allow by identifying additional investor relationships and pricing opportunities

SPECIFIC SKILLS REQUIRED

• Understanding of Agency guidelines (FNMA, FHLMC, FHLB)
• Mortgage-Backed Securities
• Lock desk pricing
• Hedging Pipeline risk
• Understanding of Loan Level Price Adjustments

EXPERIENCE, EDUCATION & OTHER QUALIFICATIONS

• 7 years of mortgage underwriting or secondary market experience required
• Experience performing pre-closing and post-closing quality control reviews
• Experience working with investors such as Fannie Mae, Freddie Mac, FHLB
• Strong knowledge of agency guidelines, TRID, RESPA, and other compliance regulations
• Excellent communication and problem-solving abilities

NOTICE

This list of duties is not intended to be all-inclusive and may be expanded to include other duties that may be deemed necessary by management from time to time. The Bank reserves the right to modify, interpret, or apply the job description in any way the company desires and that the job description is not a contract for employment. All employment is “at will”. Also, employee is expected to have knowledge of and adherence to Bank policies and procedures. The employee complies with state and federal regulations and specific BSA/AML related regulations and all information security related regulations. 

Work Environment: This job operates in a professional office environment. This role routinely uses standard office equipment such as computers, phones, photocopiers, filing cabinets and fax machines.

EEOC Statement: WSB provides equal employment opportunity to all individuals regardless of their race, color, religion, gender, age, sexual orientation, national origin, disability, veteran status, or any other characteristic protected by state, federal, or local law.