Secondary Market Processor
Job Details
Operations Annex - Marlborough, MA
Full Time
Job Description

Become Part of the Main Street Bank Team

You Deserve to Love What You Do

 “Choosing to work here has enhanced my career”; “Senior management’s doors are always open”; “I absolutely love what I do”; “The culture is awesome!”

These are words straight from our employees, and what you will experience working for Main Street Bank. What will you get when you choose a career here?

  • Opportunities for career growth and cross-departmental exposure.
  • Competitive benefits, from salary, health insurance, retirement plans, tuition assistance, and more.
  • Access to robust onsite and outside training programs to hone your skillset.
  • Collaboration with an innovative, creative, and fun team of people dedicated to what they do.
  • Work-life balance in a family-oriented, community organization.

We are looking for diverse talent of all kinds to join our team. If you are driven by results, bring your highest self to work, enjoy building relationships on mutual success, and embrace innovative thinking, you have met you match.

Job Title: Secondary Market Processor

Location: Marlborough, MA

SUMMARY: Reporting to the Loan Operations Supervisor, the Secondary Market Processor is responsible for coordinating the; workflow to ensure loans sold to the secondary market are processed and delivered accurately and timely in accordance to secondary market requirements; including accurate and timely processing of  post-closing functions in accordance with all regulatory and secondary market requirements and timelines; ensure proper loan fundings for accurate updating of reports and systems; performs daily and monthly Investor Accounting Reconciliations.  As part of the Loan Operations team, this position will be assigned duties to support the Residential and Consumer Loan portfolio, functions within Loan Operations area.

Additionally, this position embraces the established sales and service culture to maximize their contribution to the Bank’s goals.

ESSENTIAL DUTIES and RESPONSIBILITIES: In the performance of respective tasks and duties, the employee is expected to successfully perform quality work within deadlines with or without supervision, interact professionally with other employees, customers, and suppliers; work effectively as a team contributor on all assignments and work independently while understanding the necessity for communicating and coordinating work efforts with other employees and organizations.

  • Responsible for processing and coordinating the delivery of sold loan packages to the secondary market to ensure rate lock commitments and deadlines are met in accordance with all regulatory and secondary market guidelines. 
  • Reviews loan documents received from Closing Attorney’s, performing Post Closing Functions verifying the accuracy and completeness of closing documents for all Residential Mortgage Loans
  • Monitors activity to ensure proper loan funding and updates reports, Encompass Loan Origination system and the core system
  • Performs daily and monthly Investor Accounting Reconciliations 
  • Responsible for scanning and indexing loan documentation to Bank’s imaging system and Encompass Loan Origination System
  • Work with Retail Lending Department to collect rate lock information for any sold loans in the secondary market
  • Maintain and complete assigned logs accurately to monitor all closed loans to ensure all necessary transactions are performed for portfolio and sold loans  
  • Prepares a data file export to ensure required loan documents are submitted to meet investors commitment of loan delivery
  • Process, package, and ship loans to comply with investor requirements and ensures rate lock commitments to various investors are met on time
  • Monitor and track loan delivery to ensure loan is purchased and reconcile purchase advise
  • Performs all necessary maintenance to the Bank's core system to ensure sold status is complete and accurate upon loan purchase
  • Responsible for MERS registration and reporting paid off loan activity into the MERS system
  • Responsible for the daily and monthly Investor Accounting Reconciliations for FHLMC and FNMA loan portfolio
  • Prepares and maintains assigned daily and monthly reports and general ledgers
  • Responsible for Participation remittances to various investors
  • Daily posting and balancing of TI (Teller Insight) transactions
  • Responsible for processing daily lockbox CDM file and review of any posting loan rejects, loan advances, billing and payments related loan maintenance, reversals, and waivers of the Bank’s Core System
  • Participate in the development and updating of departmental procedures and provide input to improve efficiencies
  • Through cross-training be prepared to act as back-up for a variety of departmental functions
  • Assesses customers’ needs and recommends additional products and services
  • Responds to incoming calls from internal and external customers pertaining to Loan Accounts, researching to problem resolution
  • Performing various functions such as processing of loan payments, loan maintenance, scanning of loan documents and providing back up support on other functions within Loan Operations area
  • Keep abreast of regulatory changes to ensure compliance in the areas of job responsibilities, and recommend improvements or changes as needed for compliance and/or for department efficiency
  • Maintain and monitor internal controls and recordkeeping systems
  • Assist internal and external auditors and regulators with their respective engagements.
  • Provides training and guidance to others in the department on new and existing processes
  • Effectively use tools and systems to be able to self-manage, organize, and complete work independently, proactively recognizing potential obstacles resolving them before they become an issue, managing to deadlines, creating action plans when not on track, enabling job functions to happen with minimal oversite and meeting conditions of satisfaction
  • Use discretion in dealing with large amounts of sensitive, confidential information, while adhering to all Bank policies and procedures
  • Regular and consistent attendance is required to continue the high standard of customer service
  • Adhere to all company policies
  • In the performance of respective tasks and duties, the employee is expected to maintain knowledge of and ensure compliance with Bank Secrecy Act regulations and adheres to compliance procedures and internal/operational risk controls in accordance with any and all applicable regulatory standards, requirements and policies as well as attending all required training sessions and completing all required on-line training courses
  • Other duties as assigned


  • This position interacts independently with other employees and customers, to investigate and resolve loan issues.
  • Work is a mix of non-routine and routine responsibilities that are completed with a moderate amount of supervision and relies on prior directly related experience and specific bank policies.
  • This role is relied upon to provide subject matter content within the organization. 


  • High School Diploma or equivalent
  • One (1) to three (3) years of banking or mortgage related experience - Secondary Market preferred
  • Solid understanding of Secondary Market guidelines
  • Solid Understanding of the Federal and State regulations; CFPB Mortgage Servicing Rules, RESPA, TRID and Bank guidelines   
  • Working knowledge of residential real estate lending documents  
  • Good working knowledge of Data Processing systems required (FIS, Encompass Systems preferred)
  • Ability to multi- task, organize, work independently, accomplish tasks, and meet deadlines despite frequent interruptions in a fast-paced environment while maintaining attention to detail.
  • A curious mindset that allows you to constantly learn and challenge the status quo identify areas of improvement and help drive efficiencies.  
  • Proficient in Microsoft Office Suite products and the Internet
  • Solid understanding and application of administration activities with an understanding of office procedures and ability to operate standard office equipment


  • Analytical
  • Excellent Communication Skills
  • Self-Monitoring
  • Responsiveness
  • Accurate attention to detail
  • Sound Judgement
  • Independent
  • Confidentiality, Discretion
  • Excellent Organizational and time management Skills
  • Proficient Prioritization skills
  • Flexibility/adaptability to manage multiple tasks in a high volume, fast paced environment
  • Ability to embrace change with a positive approach
  • Good mathematical problem solving
  • Resourceful or Creative and Resourceful
  • Relationship Builder - Develops and maintains relationships with officers, employees and external contacts and maintains alignment with core values, vision, strategy and goals.
  • Computer Technology Savvy - Utilize technology/systems to improve work processes and use a range of technology to solve problems

LANGUAGE/COGNITIVE SKILLS: The person in this position frequently communicates with customers, about banking products, their bank accounts & transactions and therefore must be able to exchange accurate information in these cases. They will need to use judgment and discretion in decision making situations, interpret and follow all Bank policies and procedures, write/create reports and business correspondence, (Main Street Bank’s standard language is English). As well as the ability to:

  • Speak and effectively present/communicate information and respond to questions from customers, groups of managers, vendors, and other employees.
  • Define problems, collect data, establish facts and draw valid conclusions.
  • Read, analyze, and interpret a variety of documents such as standard Mortgage and Note, Post-closing Documents and Modifications and Bank policies and procedures.

WORKING CONDITIONS AND PHYSICAL EFFORT:  The physical and work environment demands described here are representative of those that must be met by an employee to successfully perform the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.

While performing the duties of this job, the employee is required to:

Physical Demands/Efforts

  • Occasionally lift and/or move up to 25 pounds, (i.e., files/ file boxes)
  • Frequently required to remain in a stationary position, 75% of the time

Mental & Visual Demands

  • Consistently operate a computer for extended periods of time
  • Specific vision abilities may be required by this job include close vision, distance vision, peripheral vision, depth perception, and ability to adjust focus
  • Regular use of office productivity machinery (i.e. a calculator, copy machine, fax machine, computer printer).

Work Environment and Hazards

  • Occasionally move throughout the inside the Bank to access resources and individuals
  • Occasional local travel for bank purposes and/or on behalf of the bank (i.e. training).
  • The employee must be able to work schedules that meet the needs of the bank, which may include early morning, evening and/or weekend hours.
  • Work is performed under busy office conditions with a high number of interruptions during the day from staff and the public.
  • It is a general office environment where the noise level is moderate


AMERICANS WITH DISABILITIES ACT - Main Street Bank complies with all aspects of the Americans with Disabilities Act (ADA) and state disability laws. This means that we will not discriminate against qualified individuals with a disability in any phase of the employment relationship including application for employment, hiring, promotions and/or advancement opportunities, termination, compensation, training and any other conditions or privileges of employment.

The completion of this Application for Employment does not assure a position with Main Street Bank and any offer of employment is conditioned on the satisfactory completion of a background and credit review as determined by the sole discretion of Main Street Bank. Neither this Application for Employment nor any document constitutes a contract of employment for a specific term and that any employment relationship that may be established will be 'at-will' and if hired, may be terminated at any time, for any reason, by the applicant or Main Street Bank.

Massachusetts Law - It is unlawful in Massachusetts to require or administer a lie detector test as a condition of employment or continued employment. An employer who violates this law shall be subject to criminal penalties and civil liability.

Massachusetts General Laws c. 151B prohibits employers from (1) terminating or refusing to hire individuals on the basis of genetic information; (2) requesting genetic information concerning employees, applicants, or their family members; (3) attempting to induce individuals to undergo genetic tests or otherwise disclose genetic information; (4) using genetic information in any way that affects the terms and conditions of an individual’s employment; or (5) seeking, receiving or maintaining genetic information for any non-medical purpose.

Main Street Bank is an Equal Opportunity Employer, we are committed to recruiting, hiring, training, and promoting persons without regard to race, color, religion, national origin, citizenship, age, sex, marital status, ancestry, physical or mental disability, veteran status, sexual orientation, military service, genetic information, and gender identity.

Main Street Bank is committed to working with and providing reasonable accommodation to individuals with disabilities.  If you need special assistance or an accommodation while seeking employment, please call: 508-460-4197 or send an email to and we will make a determination on your request for reasonable accommodation on a case-by-case basis.