Faygroup
VP, Secondary Marketing
Faygroup, Chicago, Illinois, United States, 60290
Remote
Chicago, IL
425 S Financial
Floor 20/Suite 2000
Chicago, IL 60630, USA
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 guidelines. Supervise the daily functions associated with loan pricing, locking, trades, boarding, collateral management, counterparty approval, and due diligence exception clearing. Coordinate efforts for new salable mortgage products and act as the primary contact for the secondary market and correspondent lenders/investors. Maintain and manage all secondary market functions in the loan operating system. Establish 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 marketplace. Work with senior management and across lines of business to establish pricing/profitability targets and track all related data. Manage the execution of loan sales to ensure applicable milestones are achieved, and assist senior management in managing warehouse lines of credit. Communicate transaction status and other financial results with senior management in a timely, accurate, and effective manner. Work 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 reconciliation. Ensure 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 training. Hire, train, and develop personnel resources as necessary, including cross-training to ensure redundancy within the department. What you will bring to Constructive Loans: Bachelor’s degree in Finance and Accounting preferred; high school diploma/GED required. 4 years of experience in Secondary Market Management. 5 years of mortgage underwriting experience. 10+ years of mortgage industry management experience. Proficiency with Encompass. Demonstrable 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 transmission. Reporting and analytical skills needed to manage the workflow and the internal and external service-level agreements. Ability to manage special assignments in conjunction with daily management responsibilities. Strong communication skills both written and verbal. 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.
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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 guidelines. Supervise the daily functions associated with loan pricing, locking, trades, boarding, collateral management, counterparty approval, and due diligence exception clearing. Coordinate efforts for new salable mortgage products and act as the primary contact for the secondary market and correspondent lenders/investors. Maintain and manage all secondary market functions in the loan operating system. Establish 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 marketplace. Work with senior management and across lines of business to establish pricing/profitability targets and track all related data. Manage the execution of loan sales to ensure applicable milestones are achieved, and assist senior management in managing warehouse lines of credit. Communicate transaction status and other financial results with senior management in a timely, accurate, and effective manner. Work 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 reconciliation. Ensure 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 training. Hire, train, and develop personnel resources as necessary, including cross-training to ensure redundancy within the department. What you will bring to Constructive Loans: Bachelor’s degree in Finance and Accounting preferred; high school diploma/GED required. 4 years of experience in Secondary Market Management. 5 years of mortgage underwriting experience. 10+ years of mortgage industry management experience. Proficiency with Encompass. Demonstrable 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 transmission. Reporting and analytical skills needed to manage the workflow and the internal and external service-level agreements. Ability to manage special assignments in conjunction with daily management responsibilities. Strong communication skills both written and verbal. 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.
#J-18808-Ljbffr