Relationship Manager, Mortgage Partnership Finance (MPF)
The MPF Relationship Manager works closely with the Bank’s member institutions and the Relationship Managers (RMs) to achieve the Bank’s sales goals for the Mortgage Partnership Finance® (MPF) program, a secondary market outlet for the Bank’s members. The incumbent is the lead account executive for the program in his/her assigned territory. The position entails selling the features and benefits of the MPF program to members of FHLB Boston; recruiting and recommending for approval new Participating Financial Institutions (PFIs); training newly boarded PFIs; and cross-selling and providing training for additional products and services to existing PFIs.
The MPF Relationship Manager is the primary operational liaison for the Bank and the PFI. The incumbent provides technical assistance and other on-site support and/or training as needed to the PFIs by conducting training and providing guidance to PFIs in the development of policies and procedures outlined in the MPF Guides. The incumbent also provides ongoing support to the PFIs in the delivery and proper servicing of MPF assets, and in the processing of requests for any transfer of servicing rights.
The MPF Relationship Manager also monitors the individual performance of each PFI as it relates to the successful completion of each master commitment.
The position requires approximately 80 percent of the work week on travel for the Bank with less than 10 percent necessitating an overnight stay. Travel is primarily within the six New England states, mostly concentrated in New Hampshire, Maine, Vermont and parts of Massachusetts.
· Solicits new PFI prospects independently or via referrals from the RMs.Assists these members with the completion of the PFI application and the collection of necessary data. Tracks the prospective PFI’s progress in submitting all of the required documentation within a reasonable time.
· Cross-sells existing PFIs for other MPF products. Distributes and assists PFIs with the completion of the required documentation necessary for any new MPF products.
· Oversees training of PFIs on an individual or group basis. This includes the development of all training materials used subject to approval by the MPF Program Manager.
· Provides mortgage banking training and education to other areas of the Bank, particularly serving as a source of mortgage banking expertise to the RMs and other Bank staff as requested
· Coordinates with management concerning any servicing related issues involving funding, daily transactions and monthly reporting to the master servicer
· Provides guidance and policy interpretation to new and established PFIs regarding origination & servicing issues including updates to the MPF Guides
· Develops training materials to help PFI servicing staff understand the requirements and reporting issues under the asset purchase programs
· Resolves day-to-day questions and problems posed by members. If issue is forwarded to another area of the Bank, assures it has been resolved on a timely basis.
· Works closely with the Credit Department recommending action concerning PFI approvals and master commitment issuance. Recommends action regarding asset quality of loans being acquired or waiver requests in accordance with MPF policies and procedures.
· Provides training for prospective PFIs, educating them about the master commitment process, delivery and funding requirements, along with all servicing related issues
· Performs other duties as they may be requested from time to time.
· Experience in several cross-functional areas within the mortgage banking industry such as interest rate risk management, secondary market sales and execution, operations, processing, underwriting, closing and funding, and investor accounting
· Strong interpersonal skills with the ability to build productive relationships with member institutions and various functional areas within the Bank
· Familiarity with mortgage banking accounting practices and asset valuation methods
· Knowledge of the current mortgage lending regulatory environment and the functioning of fixed income capital markets
· Excellent written and oral presentation and communication skills with the ability to discuss and sell FHLB products in an effective manner with “C” level executives
· Organizational skills to manage multiple issues for numerous accounts to effective resolutions. Ability to multi-task effectively.
· Minimum of B.A. or B.S. degree, preferably in finance or related field
· Minimum of ten to fifteen years of experience in mortgage banking with a depository financial institution or mortgage banking entity
· Previous sales experience required
A valid driver’s license is required for this role. Consistent access to a vehicle is also required to fulfill the requirements of this role.
The Federal Home Loan Bank of Boston is committed to building and sustaining a diverse workforce that reflects the communities that we serve. As an Equal Opportunity Employer, we strongly encourage applicants from every ethnicity, color, religion, gender, age, national origin, disability, veteran or parental status and sexual orientation.
Nothing in this job description restricts management’s right to assign or reassign duties and responsibilities to this job at any time.
Link to our career site can be found here: http://www.fhlbboston.com/aboutus/careers/index.jsp