Secondary Market Coodinator

How would you like to join one of the most highly regarded financial institutions in New Jersey with deep roots in the community?  Provident is a successful and highly regarded multi-billion-dollar bank that continues to grow with branches in New Jersey, Eastern Pennsylvania and New York.  Our longevity is a testament to our commitment to placing our employees, customers, and the communities we serve at the center of all we do.  At Provident Bank, we are committed to enhancing our customer and employees’ experience. 

POSITION OVERVIEW:

The Secondary Market Coordinator will be responsible for all rate lock requests from the residential lending department and the correspondent lending channel.  Responsibilities within the department include, but are not limited to, analyzing rate lock requests in comparison to investor pricing, coordinating confirmations with loan officers and maintaining accurate records in the Bank’s loan operating system.  This position also has primary responsibility within the department for HMDA data review and reporting.

KEY RESPONSIBILITIES:

• Receives lock requests from Mortgage Loan Originators (MLOs) and correspondent lenders.  Processes lock commitments both with secondary market investors and the Bank’s internal platform in accordance with bank policies. Maintains accurate records in the Bank’s loan operating system of current lock information on the buy and sell side of the transaction.  Assists Mortgage Loan Originators (MLOs) and correspondent lenders with the loan program, scenario pricing and pricing engine questions.  Assists loan processors and other operations staff with processing loan program changes and re-pricing requests.
• Completes loan intake on new correspondent loans including document indexing, loan operating system set up, and preliminary review and submission to underwriting.  Completes pre-purchase review on closed correspondent loans including document indexing, loan tracking and regulatory compliance review. 
• Completes monthly audit of HMDA data, edits as needed and submits loans to compliance.  Serves as primary liaison between the compliance department and the lending staff in the residential and consumer lending department.  Continuously seeks to improve efficiency of process and minimize errors.
• Assist Secondary Market Manager with pipeline management, tracking fee income from investors, distribution of product announcements and daily rate sheets for retail and correspondent lending.
• Updates and maintains department policy manuals as requested by the department’s director and assists with creation of power point presentations and reports based on business needs.

MINIMUM QUALIFICATIONS:

• High School diploma or equivalent required. College degree preferred.
• 2 years’ experience working in mortgage industry; familiarity with workflow in loan origination and residential mortgage underwriting concepts.
• Previous experience with Loan Operating System required.
• Prior Secondary Market or Lock Desk experience preferred.
• Experience working with digital mortgage pricing system preferred.
• Solid understanding of TRID regulations and requirements.
• Strong mathematical / analytical skills.
• Ability to thrive in a fast-paced environment and manage multiple priorities with competing deadlines.
• Ability to solve problems and make sound decisions.
• Excellent organizational skills and attention to detail.
• Proficient with technology and Microsoft Office Suite (Excel, Word, PowerPoint, and Outlook)
• Ability to work collaboratively and professionally across functional areas and with business partners to achieve desired results.  
• Excellent communication skills, both verbal and written, interpersonal and customer service skills. 
• Ability to communicate effectively at all levels of the organization.

WORKING CONDITIONS

Work is mainly performed in a normal office environment.  Noise levels usually are moderate.

• Prolonged sitting
• Lifting from 5 to 10 lbs. (printer paper, storage boxes)
• Occasional bending or overhead lifting (storing files or boxes)
• The hazards are mainly those present in a normal office setting.

This job description may not be all-inclusive.  Employees are expected to perform other duties as assigned and directed by management.  Job descriptions and duties may be modified when deemed appropriate by management.

Provident Bank recognizes and supports the importance of creating a socially and culturally diverse employee base. We understand, value, and appreciate the unique perspectives that a diverse workforce can contribute to our organization. We put the employee and the customer at the center of strategy because culture is a critical differentiator for why people choose to work here. 

We are an equal opportunity employer, and all qualified applicants will receive consideration for employment without regard to age 40 and over, color, disability, gender identity, genetic information, military or veteran status, national origin, race, religion, sex, sexual orientation or any other applicable status protected by state or local law.

Pay Details:

$22.26 - $27.79 hourly

Please note, the base pay actually offered may vary based upon the candidate's skills and experience, job-related knowledge, education, geographic location, internal equity, and other applicable business and organizational needs. 

This role is incentive eligible based upon company, business, and/or individual goal achievement and performance.

Team members accrue paid time-off (PTO), receive Holiday (PTO) and are eligible to participate in the bank’s Health and Wellness benefits including Medical, Dental and Vision Plans, Flexible and Health Savings Accounts, and a 401(k) Retirement Plan. In addition, the company provides Disability Insurance, an Employee Assistance Program, and Basic Life Insurance. Company sponsored Tuition Disbursement and Loan Repayment programs are also available. Voluntary benefits include Supplemental Life Insurance, Accident, Critical Illness, Hospital Indemnity and Legal plans.