Residential Whole Loan Associate

National Life Group•Addison, IL

52d•Onsite

About The Position

The Residential Whole Loan Associate will be a key contributor to the execution of our residential mortgage investment strategy spanning over $1.5 billion in whole loan residential mortgages. In this role, the Associate will support market analysis, loan stratification and data-driven pricing, underwriting support, and portfolio monitoring and reporting. The role requires strong technical skills to enhance data processing, automation, and analytics within the investment process. The ideal candidate should be eager to learn, adaptable to evolving capital markets, and comfortable integrating technology into financial analysis. Additionally, this role will also support ongoing business development efforts, including analyzing new origination channels and conducting due diligence. The Associate will cross train and develop other members of the team, ensuring proper depth of talent and resources within the capital markets function. The Associate will have experience in the residential mortgage and/or RMBS structured finance markets including, but not limited to: asset-level contract finance, due diligence (asset valuation, credit and compliance), collateral analysis, risk mitigation, product development, regulation compliance, and vendor/client management. The ideal candidate will be an effective communicator and presenter, analytical, ethical, collegial, and driven individual with proven track record in residential mortgage investment. This position currently offers an onsite work schedule, with the expectation that you are in the office four days per week during onsite core days. Our current onsite core days are Monday, Tuesday, Wednesday, and Thursday. The work schedule type and core days are subject to change with advance notification and manager discretion.

Requirements

Undergraduate degree (preferably in accounting, finance, economics, math, or engineering)
5+ years experience within the residential mortgage space
Knowledge of mortgage structured finance including Agency / Non-Agency MBS and Credit Risk Transfer (CRT) markets, with the skills to run various sensitivity and scenario analysis using prepayment models
Familiarity with loan-level due diligence, collateral, and contract finance for residential mortgage loans
Strong quantitative skills, with proficiency in Excel, Powerpoint, and customer relationship management software
Drawn to incorporating technology and best-practices to transaction management policies and procedures
Ability to wear many hats and ensure that the business is being executed with zero-defect or exceptions and with strong work ethic
First-principles mindset and ability to think critically and challenge status quo
Solid interpersonal skills and ability to connect to form meaningful working partnerships
Experience driving projects to completion
Ability and desire to work in a dynamic and demanding environment

Nice To Haves

Knowledge of mortgage modeling systems (Intex, Yieldbook) and programming (Python, SQL) considered a strong plus

Responsibilities

Support the residential mortgage team on transactions and asset management of the residential mortgage investment portfolio
Perform deep sector specific research and analysis, identify relative value and potential trade opportunities, and communicate ideas across the team
Keep portfolio managers updated on key developments in mortgage related sectors, and contribute to the team's strategic outlook in both whole loan and securitized markets
Help negotiate and manage flow and bulk contracts
Collaborate with trade support, accounting, and technology departments along with vendor partners on settlement tie-out and trade management
Clear collateral exceptions with document custodian to make sure all collateral documents are received within the trailing document period
Track and manage collateral and credit file requirements
Manage the Know Your Counterparty process for vendors and trade partners
Complete diligence scope and diligence findings on each transaction based on feedback from investment committee
Ensure trade stipulations complied with by Seller as per contracts (purchase agreement and trade confirm)
Build, develop, and enhance analytical systems supporting the Residential Mortgage Investment team
Compile and manage the residential mortgage monthly reporting (portfolio analysis, trade activity, performance attribution, asset exposure)

Benefits

Your benefits start day one and are flexible and customizable to your and your family's specific needs. Check out the BENEFITS of a Career at National Life!

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