Job Information
Westfield Bank Secondary Market Specialist in Chicopee, Massachusetts
Secondary Market Specialist CHICOPEE, MA \$19.32 - \$28.99 Hourly Position: Secondary Market Specialist Department: Loan Operations Job Status: Full-Time FLSA Status: Non-Exempt Grade: 7 Reports to: Team Lead, Residential Amount of Travel Required: Local Travel as Needed Positions Supervised: None POSITION SUMMARY Under the general supervision of the Residential Loan Servicing Team Lead. Performs a variety of Loan Servicing tasks primarily focused on the selling and servicing of the secondary market loan portfolio. ESSENTIAL FUNCTIONS Responsible for reporting and remitting secondary market loan activity daily, at cutoff and whenever necessary. Loan activity includes but not limited to payments, payoff, repurchase and delinquency. Daily duties for secondary market, including but not limited to, daily edits, draft report, NSF report and missing loan report in Freddie Mac. Monitoring the FHLB custodial account and wiring funds when appropriate. Daily reconciliation of the custodial account activity to the daily onBase report Once contracts are received pull notes; have signed by appropriate office and send to Bank of New York Mellon. Update all required fields in Bank\'s loan operating system for sold notes. Pull statements from Freddie Mac for funding - reconcile - update all required fields in the loan operating system for sold loans. Assists with internal and external audits. Monthly and Bi-Monthly - report delinquencies to Freddie Mac - monthly reconciliation of custodial accounts - upload data to Fannie Mae and reconcile Fannie custodial account - upload data to FHLB, wire and reconcile custodial account. Responsible for keeping abreast of all Secondary Market procedures and any changes. Complete all necessary trainings related to the secondary market. Posts new loans and modifications to the loan operating system for all loan types. Processes loan transactions and answers customer inquiries for all loan types. Performs additional tasks relating to loan servicing. Must complete BSA, AML, and other regulator and continuing education as assigned. Must adhere to all bank and regulatory policies and procedures specific to position. POSITION QUALIFICATIONS Competencies Analytical Skills Quality Initiative Planning Organizational Skills Time Management Education/Experience/Skills Secondary Market experience preferred. Knowledge of each operational aspect of the department. Excellent communication skills. Working knowledge of Microsoft Office (Word and Excel) required. Ability or organize, prioritize, delegate, meet deadlines and balance numerous tasks at the same time.