|The Senior Whole Loan Trader, is responsible for insuring that the applicable available-for-sale mortgage loan pipeline is forecasted, tracked and hedged properly within the market, and arranges whole loan sales and pricing so as to maximize potential returns and minimize total exposure.
- On a daily basis, review reports generated by the Stearns Capital Markets Department to identify available inventory eligible for whole loan disposition. This includes but is not limited to Government, Conventional, Jumbo, and Scratch and Dent type Products.
- Conduct auctions of whole loan products
- Establish and maintain contacts of all types of investors and brokers who qualify as whole take out vehicles.
- Monitor daily hedge effectiveness and pricing accuracy, engage in price discovery and provide metrics reporting
- Develop, maintain and expand counterparty/investor relationships, assist with negotiation of trade terms and Purchase & Sale (P&S) agreements.
- Responsible for any and all impact of trades in all systems – QRM and Stearns internal systems
- Responsible for the development of loan product pricing and hedging strategy for loan products identified above.
- Responsible for management of the JV sell away sub position.
- Trading and support of CRA product if needed.
- Ensure adherence to all Stearns’ Trading and Hedging policies.
- Ensure compliance with applicable federal, state and local laws and regulations. Complete all required compliance training. Maintain knowledge of and adhere to Stearns’ internal compliance policies and procedures. Take responsibility to keep up to date with changing regulations and policies.
- Responsible for Month end Market to market validations from QRM
- Special projects as assigned
• 3-5 years mortgage trading experience
• Strong technical skills, i.e. Excel, SQL, Bloomberg, QRM a plus
• Working knowledge of mortgage securitization
• Established knowledge of whole loan investors, RMBS/ ABS
• College Degree in Finance, Accounting, or equivalent experience