Mortgage Secondary Marketing Manager

Description

At Sunflower Bank, we’re experiencing great growth. Since our founding in 1892, we've been committed to serving our communities and supporting the team members who make it all possible. As a full-service financial institution, we offer a full range of relationship-focused services to meet personal, business, and wealth-management financial objectives. Creating Possibility is not just our mission, it’s what we do every day for clients and associates. Learn more about Sunflower Bank at sunflowerbank.com. 

Sunflower Bank, N.A. is looking for an energetic, highly motivated individual to fill the position of a full-time Mortgage Secondary Marketing Manager at our Plano, TX location.

The primary function of the Secondary Marketing/Product Manager is to administer all retail secondary market duties, mortgage system and lock desk administration, timely reporting routines, mortgage product development, project management and secondary marketing initiatives. This includes development and implementation of daily pricing of all mortgage products, pipeline management, interest rate risk management and best execution, hedging and executing trades, extensions and pair-offs, and loan delivery. Acts as a primary liaison to investors and maintains a favorable relationship. This position is a working manager position who supervises a team within the Secondary Marketing department.

Primary Responsibilities

- Manage the Secondary Marketing aspects of the Lock Desk Functions:

• Manage daily pricing of mortgage products to corporate goals
• Supervise and administer the programming and accuracy of pricing and loan program eligibility within the Product Pricing Engine (PPE) – Optimal Blue
• Ensure Daily Rates are provided timely and accurately while working with hedging partner – Mortgage Capital Trading (MCT)
• Ensure accurate and meticulous data input of lock information into our LOS (Encompass) database including trade and pricing information related to sales of mortgage loans and pools.
• Monitor Lock Desk communications and activities. Ensure that all inquiries, PEs, profile changes, etc. have been reviewed within SLA.
• Manage the Lock Desk including answering any escalations or questions from staff, brokers, or correspondents, lock loans, process lock extensions, process any changes that occur within the loan, all in a timely and accurate manner.

- Implements strategies to achieve goals assigned to the department as established for the division’s annual plan; assists in the development of the annual budget for the department and division and adheres to budget parameters.

- Pipeline Management:

• Monitor and maintain overall mortgage lock pipeline; researching and completing relocks, lock revisions and lock extension requests in a timely and professional manner. Document changes consistent with Bank policy, standard, procedure and work instruction requirements.
• Manage the profitability, margin management, pipeline hedging and daily rate schemata to ensure targeted positions and premier profitability
• Reconcile new lock report, audit the previous day's commitments for errors, review problem loans for pricing or model errors, update pricing model for best execution runs, process, and confirm mandatory trade assignments/MBS trades
• Monitor interest rate risk exposure and execute trades, including delivery commitments and pair-offs through daily position balancing and reporting while monitoring market risk and changes daily
• Assist in the pricing of loans to find the best execution/profit for the Bank.
• Enforce the Secondary Marketing and Rate Lock policies and procedures, and work closely with internal partners (MLOs, Mortgage Sales Leadership, Mortgage Operations Leadership, Finance and Accounting) and external partners (Correspondents, Brokers, and Secondary Market counterparties); as well as monitor and track exceptions.

- Reviews overall volume by investor/product and performs competitive analysis to recommend and update margin and product changes.

- Manage the loan sale process and pooling process

- Lead Mortgage Product Development and Management:

• Work with mortgage management team on identifying new product opportunities, development of new products, submission of new investors and programs for approval, and launching new products. This includes managing product roadmaps, procedures, training, team adoption of new products, etc.
• Manage relationship with Investors, Broker/Dealers and Hedging partner, negotiates loan sale agreements, and assists in completing all investor applications and recertifications.

- Reconcile new lock report, audit the previous day's commitments for errors, review problem loans f