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Federal Home Loan Bank of Boston Secondary Mortgage Market Program Specia in Boston, Massachusetts

The Mortgage Partnership Finance? (MPF) program is a secondary market outlet for 1-4 family residential mortgage loans sold by the Bank?s members, primarily small to mid-size banks and credit unions in the six New Englan states. Reporting to the MPF Program Managder, the MPF Program Specialist works closely with the Bank?s members and other stakeholders at the Bank to achieve the Bank?s MPF Program goals. The incumbent collaborates with the Bank?s Relationship Managers in their roles as liaisons with the membership for all of the Bank?s products. The incumbent will provide comprehensive consultative support to members; hence, the position requires prior experience handling investor accounting and custodial account reconciliation for secondary market investors such as Fannie Mae or Freddie Mac. It requires a general understanding of default management and loss mitigation of residential first mortgages. Familiarity with the front end of mortgage banking, from loan manufacturing through pricing and delivery to the secondary market, is required. This knowledge will be used to provide consultative guidance and formal training as needed to participants in the MPF Program (?Participating Financial Institutions?, or PFIs). The incumbent assists prospective applicants in the application process, including reviewing quality control procedures and anti-predatory lending policies. The incumbent is responsible for training newly approved PFIs in the areas of pricing, committing and delivery of residential mortgages, investor reporting and remitting, and general program requirements. The position requires handling of general activities, data gathering and analysis, problem resolution, and administrative duties within the MPF program. The ideal candidate for this role has mortgage servicing experience. The incumbent may also provide support in presenting the features and benefits of the MPF program to members of FHLBank Boston. The internal title for this role, MPF Program Specialist, is a key operational liaison between the Bank and the PFI. The incumbent provides technical assistance as needed to the PFIs and may provide guidance to PFIs in the development of policies and procedures outlined in the MPF Guides. The incumbent aids the MPF Program Manager in processing documentation of mergers between PFIs and other institutions. This role will have a hybrid work schedule in our Boston office in accordance with the Bank?s Hybrid Work Program with more time expected in the office to support initial onboarding, which may be up to 90 days. Travel within the six New England states expected to be less than 20% annually, with occasional overnight stays required. This role will require a credit check as part of the background check process.

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