Mortgage Loan Secondary Market Specialist

Title: Mortgage Loan Secondary Market Specialist

Department: Mortgage Lending

Reports To: Associate Vice President of Mortgage Lending

Job Grade: 9

FLSA: Non-Exempt Last Modified: 05/28/2025

It's a Job ... Only Better!

At UKFCU, we're more than a Credit Union - we're a community, and we've been proudly serving our members since 1937! As a rapidly growing, not-for-profit organization, we're dedicated to making a real difference in the lives of our members and employees alike. If you're looking for a workplace where you can grow, make an impact, and have fun while helping others, UKFCU is the place for you!

Why This Role Matters

The Mortgage Loan Secondary Market Specialist ensures the successful delivery and post-closing processing of mortgage loans by verifying documentation accuracy, managing rate locks, and preparing files for investor delivery or booking. This position plays a critical role in maintaining compliance, loan quality, and data integrity throughout the mortgage process while supporting the team with application-level tasks as needed.

What You'll Do

Post-Closing & Investor Delivery

• Review closed loan documentation for accuracy and completeness.
• Communicate with loan officers, closing attorneys, and borrowers to resolve missing or incorrect documents.
• Scan and deliver closed loan files to appropriate investors or prepare for booking in the core system.
• Ensure all documentation is accurately indexed in the Credit Union's imaging system.
• Submit final title policies and recorded mortgages to investors or servicers.
• Resolve investor quality control findings and internal Quality Assurance discrepancies.

Rate Lock Management & Compliance

• Complete and manage rate locks upon receipt of executed rate lock agreements.
• Process rate lock extensions and maintain accurate records.
• Finalize withdrawn and denied files, ensuring all fields are completed in the loan origination system.
• Prepare and issue Notices of Adverse Action for denied applications.
• Review and complete HMDA data fields to ensure compliance.

Support for Loan Application Processing

• Assist the Mortgage Loan Application Specialist by:
  
  
  
  • Monitoring new loan requests and assigning to Mortgage Loan Originators.
  • Reviewing loan files for accuracy and completeness of data.
  • Reviewing and delivering early disclosures and revised Loan Estimates within regulatory timeframes.
  • Initiating third-party orders (e.g., appraisals, flood certs, verifications) upon receipt of a signed Notice of Intent to Proceed.
  • Accepting borrower payments and updating the system with payment details.
  • Ensuring third-party vendors are paid and all documents are properly stored in the imaging system.
  
  
  
  

Who You Are

Experience & Education

• 1-2 years of experience in mortgage lending or related financial services required.
• Associate's degree or equivalent experience required.
• Strong understanding of federal and state mortgage regulations.

Skills & Strengths

• Exceptional attention to detail and accuracy.
• Strong ability to analyze loan documents and identify discrepancies.
• Ability to work independently while managing multiple tasks and deadlines.
• Proficiency in loan origination software and Microsoft Office applications.

Key Traits

• Integrity in decision-making and compliance practices.
• Commitment to teamwork and collaboration.
• Adaptability to changing policies and regulatory requirements.

What's in It for You?

• Competitive salary and industry-leading benefits.
• Opportunities for professional growth and leadership development.
• A chance to make a lasting impact on our members and the organization's future.

Legalese

Equal Opportunity Employer

UKFCU is an Equal Opportunity Employer. We celebrate diversity and are committed to creating an inclusive environment for all employees. Employment decisions are made without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, age, disability, genetic information, veteran status, or any other characteristic protected by applicable law.

At-Will Employment

Employment with UKFCU is deemed "at-will," which means that either you or the company may terminate the employment relationship at any time, with or without cause or notice, unless otherwise provided by law.

Physical and Cognitive Demands

This role requires a blend of physical activity and mental focus to effectively perform its essential functions. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions of this role. Key physical activities include sitting, standing, walking, and occasional lifting (up to 25 pounds). You'll also use your hands for various tasks, reach with your arms, and engage in conversations. Vision requirements include the ability to focus, perceive depth, and distinguish colors. Cognitive abilities essential for this role include judgment, auditory perception, memory, reasoning, and occasional persuasion.

Work Environment

You'll primarily work indoors in a comfortable, climate-controlled office setting. The noise level is typically moderate, ensuring a focused yet dynamic work environment. Reasonable accommodations will be provided as needed to support an inclusive workplace.

This job description provides a general overview of the responsibilities and expectations for this role. It is not a comprehensive list of tasks, and employees may be asked to take on additional duties to support team success.