Invigorate Finance
VP, Secondary Marketing
Invigorate Finance, Chicago, Illinois, United States, 60290
The Fay Group originated in 2008, is a full-scale real estate services company that offers mortgage servicing, property renovations, business purpose lending, insurance, and more to homeowners, investors, and clients nationwide. Fay handles a wide range of mortgage loan solutions for prospective homeowners with varying credit histories and also offers to refinance for existing mortgages.
The Fay Group is made up of separate business units offering a complete range of home ownership products and services that provide customers with solutions to navigate the challenges of home ownership while helping them build toward their long-term financial goals. We consider the people behind those mortgages and work hard to give them the best chance possible to stay in their homes.
Fay Cares!The Fay-Constructive Foundation was established to fulfill the philanthropic mission of The Fay Group employees to serve the communities in which they live and work. Over 80% of employees across Fay, Constructive, and GenStone affiliate companies make voluntary contributions to the Foundation. Each quarter, their contributions are donated to organizations focused on improving education opportunities, combating poverty, and supporting military service members and first responders.
Come join us on our journey to serve our customers and be the leader in our industry! We are currently looking for a
VP, Secondary Marketing
to join our team!
The Vice President of Secondary Marketing is responsible for the maintenance of relationships with investors and correspondent partners and for the pricing, packaging, and final execution of originated loans to our investors, as well as the packaging and securitization of loans held for sale by Fay Mortgage Services and Constructive Loans. This person will also be responsible for managing all lock desk functions and administering the integrity of our lock processes.
What you will do for Constructive Loans:
Formulate and maintain procedures, policies, and guidelines to ensure all operations are current and consistent with secondary market and investor requirements and guidelinesSupervise the daily functions associated with loan pricing, locking, trades, boarding, collateral management, counterparty approval, and due diligence exception clearingCoordinate efforts for new salable mortgage products and act as the primary contact for the secondary market and correspondent lenders/investorsMaintain and manage all secondary market functions in the loan operating systemEstablish and maintain relationships with all necessary and appropriate vendors, trading partners, hedging services, etc. to ensure the best execution delivery of mortgage loans to the marketplaceWork with senior management and across lines of business to establish pricing/profitability targets and track all related dataManage the execution of loan sales to ensure applicable milestones are achieved, and assist senior management in managing warehouse lines of creditCommunicate transaction status and other financial results with senior management in a timely, accurate, and effective mannerWork with VPs of Operations to ensure post-closing activities are executed in a timely fashion, ensuring collateral delivery to warehouse banks, final document delivery, and reconciliationEnsure all departmental documents and activities are performed in compliance with applicable laws, regulations, policies, and procedures as applicable to this position, including completion of required compliance trainingHire, train, and develop personnel resources as necessary, including cross-training to ensure redundancy within the departmentWhat you will bring to Constructive Loans:
Bachelor’s degree in Finance and Accounting preferred; high school diploma/GED required4 years of experience in Secondary Market Management5 years of mortgage underwriting experience10+ years of mortgage industry management experienceProficiency with EncompassDemonstrable knowledge of hedging practices and systems, lock policies, delivery, and reconciliation, etc.Knowledge of pricing/hedging systems, Lock Desk, and Post-Closing functions including collateral management, loan boarding, due diligence clearing, file creation, and transmissionReporting and analytical skills needed to manage the workflow and the internal and external service-level agreementsAbility to manage special assignments in conjunction with daily management responsibilitiesStrong communication skills both written and verbalMS Office proficiency
Equity and Inclusion are embedded into our way of working at Fay. We believe that the best ideas come from having a team that is diverse in backgrounds, experiences, and perspectives. We strive to ensure each of our employees feels valued, respected and included and is presented with equal opportunities to be successful here at Fay. We are proud to be an equal-opportunity workplace. The Fay Group and affiliated companies participate in E-Verify. For more information go to www.dhs.gov/E-Verify. E-Verify is a registered trademark of the U.S. Department of Homeland Security.
The Fay Group is made up of separate business units offering a complete range of home ownership products and services that provide customers with solutions to navigate the challenges of home ownership while helping them build toward their long-term financial goals. We consider the people behind those mortgages and work hard to give them the best chance possible to stay in their homes.
Fay Cares!The Fay-Constructive Foundation was established to fulfill the philanthropic mission of The Fay Group employees to serve the communities in which they live and work. Over 80% of employees across Fay, Constructive, and GenStone affiliate companies make voluntary contributions to the Foundation. Each quarter, their contributions are donated to organizations focused on improving education opportunities, combating poverty, and supporting military service members and first responders.
Come join us on our journey to serve our customers and be the leader in our industry! We are currently looking for a
VP, Secondary Marketing
to join our team!
The Vice President of Secondary Marketing is responsible for the maintenance of relationships with investors and correspondent partners and for the pricing, packaging, and final execution of originated loans to our investors, as well as the packaging and securitization of loans held for sale by Fay Mortgage Services and Constructive Loans. This person will also be responsible for managing all lock desk functions and administering the integrity of our lock processes.
What you will do for Constructive Loans:
Formulate and maintain procedures, policies, and guidelines to ensure all operations are current and consistent with secondary market and investor requirements and guidelinesSupervise the daily functions associated with loan pricing, locking, trades, boarding, collateral management, counterparty approval, and due diligence exception clearingCoordinate efforts for new salable mortgage products and act as the primary contact for the secondary market and correspondent lenders/investorsMaintain and manage all secondary market functions in the loan operating systemEstablish and maintain relationships with all necessary and appropriate vendors, trading partners, hedging services, etc. to ensure the best execution delivery of mortgage loans to the marketplaceWork with senior management and across lines of business to establish pricing/profitability targets and track all related dataManage the execution of loan sales to ensure applicable milestones are achieved, and assist senior management in managing warehouse lines of creditCommunicate transaction status and other financial results with senior management in a timely, accurate, and effective mannerWork with VPs of Operations to ensure post-closing activities are executed in a timely fashion, ensuring collateral delivery to warehouse banks, final document delivery, and reconciliationEnsure all departmental documents and activities are performed in compliance with applicable laws, regulations, policies, and procedures as applicable to this position, including completion of required compliance trainingHire, train, and develop personnel resources as necessary, including cross-training to ensure redundancy within the departmentWhat you will bring to Constructive Loans:
Bachelor’s degree in Finance and Accounting preferred; high school diploma/GED required4 years of experience in Secondary Market Management5 years of mortgage underwriting experience10+ years of mortgage industry management experienceProficiency with EncompassDemonstrable knowledge of hedging practices and systems, lock policies, delivery, and reconciliation, etc.Knowledge of pricing/hedging systems, Lock Desk, and Post-Closing functions including collateral management, loan boarding, due diligence clearing, file creation, and transmissionReporting and analytical skills needed to manage the workflow and the internal and external service-level agreementsAbility to manage special assignments in conjunction with daily management responsibilitiesStrong communication skills both written and verbalMS Office proficiency
Equity and Inclusion are embedded into our way of working at Fay. We believe that the best ideas come from having a team that is diverse in backgrounds, experiences, and perspectives. We strive to ensure each of our employees feels valued, respected and included and is presented with equal opportunities to be successful here at Fay. We are proud to be an equal-opportunity workplace. The Fay Group and affiliated companies participate in E-Verify. For more information go to www.dhs.gov/E-Verify. E-Verify is a registered trademark of the U.S. Department of Homeland Security.