Secondary Market Coordinator and Systems Administrator

POSITION: Secondary Market Coordinator and Systems Administrator

Summary:

At Cambridge Savings Bank, our purpose is to have a positive impact on our customers, employees, and community's financial well-being. We are committed to exceeding expectations and having a strong commitment to diversity and inclusion. Under the general supervision of the Secondary Market Officer, performs a variety of functions relative to the sale of mortgages to investors in conformance with established Bank procedures and applicable regulations and guidelines.

Key Result Areas:

• Coordinates all investor sales and provides for the delivery and shipping of investor packages.
• Under the direction of the Secondary Market Officer, communicates investor guidelines to mortgage originators and branches.
• Under the direction and supervision of the Secondary Market Officer, sets daily rates while watching the market closely for volatility and communicating the rates to the mortgage originators and branches.
• Locks loans for borrowers and committing loans with investors.
• Coordinates pipeline information between Loan Servicing, Investors and Loan Administration Department.
• Reviews closing schedule with Loan Operations (Underwriting) Manager and track fallout for the Secondary Market Officer.
• Ensures accuracy of mortgage pipeline for all loans in process.
• Completes investor QC's.
• Works with investors as necessary to resolve customer disputes or inquiries on sold loans.
• Ships investor loans in timely fashion to ensure no late fees and assists with investor setup and testing.
• Audits application and credit files to ensure that documentation and underwriting standards meet the investor's requirements.
• Ensures that attorneys are in accordance with legal, compliance and secondary market standards and meet all legal documentation requirements. Works closely with Post Closing and Closing to ensure that all corrections are made in a timely manner.
• Maintains records of all closing files.
• Maintains Secondary records of all Sold files.
• Assists with preparation of various monthly reports.
• Assists Secondary Market Officer and management with various projects and administrative duties as necessary.
• Maintains user access to all applications.
• Establishes and maintains effective working relationships with other employees and customers.
• Perform additional duties as required.

Qualifications:

• High School education required. College education preferred.
• 2 - 3 years Loan Origination System administration preferably with Encompass.
• Proficient IT skills including proficiency in Word and Excel and loan systems.
• 2-3 years secondary market mortgage experience preferred.
• 2 years bank operations experience preferred.
• Knowledge/experience dealing with loan sales to Investors.
• Basic accounting skills preferred.
• Excellent written and oral communication skills.
• Good analytical, organizational skills and ability to multitask is critical.

Location:

Hybrid/Waltham, Massachusetts

About Cambridge Savings Bank:

Cambridge Savings Bank is a full-service banking institution with over $7 billion in assets. As a mutual bank, CSB is committed to improving the quality of life of our employees, customers, and the communities we serve. One of the oldest and largest community banks in Massachusetts, Cambridge Savings Bank offers a full line of individual and business banking services across a robust Massachusetts-based branch network and through digital banking solutions for commercial, small business and consumer customers. In March 2023, Kroll Bond Rating Agency affirmed CSB's investment-grade rating, reinforcing the bank's position as a reliable business lender. To learn more about how CSB can meet your needs, visit us at cambridgesavings.com, or better yet, come meet us to help you make the most out of your banking relationship. Member FDIC. Equal Housing Lender. NMLS # 543370

Cambridge Savings Bank is an equal opportunity employer, and all qualified applicants will receive consideration for employment without regard to race, color, religion, sex, national origin, disability status, protected veteran status, or any other characteristic protected by law. We are a VEVRAA Federal Contractor.

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