Photo illustration by Dennis Wunsch
Senior vice president of secondary marketing
Waterstone Mortgage Corp.
s a loan originator or branch manager, you deal with the
primary market — selling and processing mortgages for
borrowers — as a matter of course. On the other hand,
the less familiar secondary market — the packaging
and selling of those loans to agencies and investors
— is a large operation that lurks beneath the surface of many
mortgage companies and lenders, and is not as well understood.
Luckily, you don’t have to be an expert who is well-versed in
all things secondary. What you do want, however, is to have
confidence that your secondary market team — or the teams at
the lenders you work with — have capable and knowledgeable
individuals who can support your origination efforts and help you
understand issues that can affect your borrowers’ loans. >>