Research Analyst - Non-Agency Residential Mortgages

Lord Abbett•Jersey City, NJ

About The Position

We are seeking a Research Analyst to support fundamental research coverage within the non-agency residential mortgage sector. This individual will focus on evaluating RMBS, loan portfolios, originators, bond issuers, and housing and consumer market dynamics across the full range of the residential mortgage credit ecosystem, to drive investment alpha in residential mortgage credit across a range of investment mandates. This role requires a seasoned professional with deep industry expertise, strong investment judgement, and experience measuring and valuing mortgage credit risk in a variety of interest rate and credit environments. The position will play a central role in shaping portfolio positioning, governing our research processes, navigating investment complexity, leadership of other investment professionals, and serving as a key thought partner to internal and external stakeholders.

Requirements

12+ years of relevant experience in residential mortgage credit or non-agency RMBS
Tools for managing and processing loan level data to conduct surveillance and value collateral pools
Experience managing and vetting quantitative models, liaising with quantitative analysts, and managing myriad interest rate and credit risks related to RMBS and mortgage investments
Expert grasp of residential real estate fundamentals, including housing cycles, affordability metrics, and regional market dynamics
Ability to synthesize macroeconomic trends and translate them into actionable investment insights.
A proven ability to solve problems creatively, while working collaboratively, with cross functional internal and external stakeholders
Effective written and verbal communication skills, with the ability to present ideas clearly and concisely
Strong attention to detail, organization, and ability to manage multiple priorities
Collaborative mindset with a proactive, intellectually curious approach
Bachelor’s degree required

Nice To Haves

advanced degree and/or professional certifications (e.g., CFA) preferred
Familiarity with industry data platforms and artificial intelligence tools to enhance the research process

Responsibilities

Lead research across the RMBS space for Lord Abbett’s fixed income department, with a focus on delivering enhanced returns to our investors relative to pertinent yield or benchmark objectives
Maintain robust cash flow modeling infrastructure via a mix of internal and third-party tools to ensure analytic accuracy, including duration, convexity, and other key risk factors
Create and maintain infrastructure and systems for generating repeatable alpha.
Have a strong grasp of foundational principles of mortgage investing, and a process of valuing and isolating alpha, across collateral credit risk, related party risk, prepayment risk, structural risk, and other factors
Conduct detailed fundamental analysis of residential real estate issuers, including REITs, homebuilders, and housing-related structured products
Build and maintain financial models, including cash flow projections, margin analysis, and valuation frameworks
Analyze key housing market drivers such as supply/demand dynamics, affordability, demographic trends, and interest rate impacts
Develop and articulate investment views supported by both company-specific and macro housing insights
Monitor existing holdings and provide ongoing surveillance, identifying risks, opportunities, and potential catalysts
Prepare clear, concise research reports and present findings to portfolio managers and senior analysts
Engage with management teams, industry participants, and data providers to develop differentiated perspectives
Collaborate with traders, portfolio managers, and other sector analysts to support investment decisions and portfolio construction
Contribute to team knowledge sharing and help mentor/support junior analysts as appropriate