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Secondary Mortgage Jobs (NOW HIRING)

Position Summary The Secondary Mortgage Servicing Officer is responsible for maintaining an acceptable level of credit delinquency and losses to the Bank. This position analyzes the credit and ...

Evaluate acceptability of loans to corporations that buy real estate loans on secondary mortgage markets, where existing mortgages are bought and sold by investors. * Keep abreast and maintain a ...

Under minimum supervision, this position will market and originate mortgage loans that meet regulatory and investors guidelines to be sold on the secondary mortgage market. Primary Duties: * Gather ...

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Secondary Mortgage information

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$44.5K

$90K

$145.5K

How much do secondary mortgage jobs pay per year?

As of Aug 8, 2026, the average yearly pay for secondary mortgage in the United States is $90,000.00, according to ZipRecruiter salary data. Most workers in this role earn between $55,000.00 and $125,000.00 per year, depending on experience, location, and employer.

What is a secondary mortgage?

Secondary mortgages, also known as second mortgages, are loans that are secured by a property in addition to the primary (first) mortgage. Homeowners take out a secondary mortgage to access the equity in their home, often for purposes such as home improvements, debt consolidation, or other major expenses. Because the secondary mortgage is subordinate to the primary mortgage, it typically comes with a higher interest rate. If a borrower defaults, the primary mortgage lender has the first claim on the property.

What are some typical challenges faced by professionals working in secondary mortgage markets?

Professionals in secondary mortgage markets often navigate challenges such as fluctuating interest rates, evolving regulatory requirements, and the complexities of loan packaging and securitization. Staying current with compliance standards and managing risk associated with large pools of mortgage-backed securities are crucial aspects of the role. Additionally, collaboration with originators, investors, and legal teams is essential to ensure smooth transaction execution and portfolio management. Adaptability and strong analytical skills are key to succeeding in this fast-paced and detail-oriented environment.

What are the key skills and qualifications needed to thrive as a secondary mortgage analyst, and why are they important?

To thrive as a Secondary Mortgage Analyst, you need a solid understanding of mortgage products, financial markets, and risk analysis, typically supported by a degree in finance, economics, or a related field. Familiarity with mortgage loan origination systems (LOS), automated underwriting systems (AUS), and proficiency in data analysis tools like Excel or SQL is important. Strong analytical thinking, attention to detail, and effective communication are crucial soft skills in this position. These skills ensure accurate pricing, compliance, and risk management for mortgage-backed securities and secondary market transactions.
More about Secondary Mortgage jobs
What cities are hiring for Secondary Mortgage jobs? Cities with the most Secondary Mortgage job openings:
What states have the most Secondary Mortgage jobs? States with the most job openings for Secondary Mortgage jobs include:
Infographic showing various Secondary Mortgage job openings in the United States as of August 2026, with employment types broken down into 77% Full Time, 19% Part Time, 1% Temporary, 2% Contract, and 1% Nights. Highlights an 95% Physical, 2% Hybrid, and 3% Remote job distribution, with an average salary of $90,000 per year, or $43.3 per hour.

Secondary Mortgage Servicing Officer

Busey

Edwardsville, IL โ€ข On-site

$48K - $65K/yr

Full-time

Medical, Dental, Vision, Life, Retirement, PTO

Re-posted 28 days ago


Job description

Position Summary

The Secondary Mortgage Servicing Officer is responsible for maintaining an acceptable level of credit delinquency and losses to the Bank. This position analyzes the credit and determines what course of action needs to be taken from writing collection letters or foreclosure per our portfolio loan collection policy or per our seller servicer agreements with Fannie Mae, Freddie Mac, Illinois Housing Development Authority, and various Private Mortgage Insurance Companies.Duties & Responsibilities
  • Make collection calls and document properly.
  • Work with customers to identify possible workout situations.
  • Prepare modifications and present to Mortgage Credit Officer for approval.
  • Collect and review necessary financial information from the Borrower.
  • Knowledge of Home Affordable Modification Program, and various workout programs offered by the individual Investors per our Seller Servicer Agreements.
  • Monthly delinquency reporting to various Private Mortgage Insurance Companies.
  • Complete Property Inspections per Servicer requirements.
  • Use of the various data tool collector modules per each Investor.
  • Prepare and review various reports.
  • Work with attorneys and other outside professionals, as needed.
  • Review loan portfolio for past due accounts and other problems.
Education & Experience

Knowledge of:

  • Strong oral and written communication skills
  • Freddie and Fannie collection practices required
  • Mortgage lending function to assist in the ability to underwrite loans for modification and workout
  • Compliance with Mortgage Loan regulations and the individual Seller Servicer Agreements which are negotiated with our Investors

Ability to:

  • Implement new procedures and approaches to problems.
  • Analyze and solve problems that require analysis based on precedent
  • Maintain visual attention and mental concentration for extended periods of time
  • Perform duties and make decisions under frequent time pressures


Education and Training:

  • Requires High School diploma, continued education preferred.
  • Require prior banking and collection experience.
  • Requires knowledge of Microsoft Office.
  • Bilingual in English and Spanish preferred.

Compensation and Benefits

Salary offered is based on factors, including but not limited to, the job duties, required qualifications and relevant experience, and local market trends. The role may be eligible for bonus or incentives based on company and individual performance.

(Base Pay Range: $48,000 - $65,000/year)

Busey provides a competitive Total Rewards package in return for your time, talents, efforts and ultimately, results. Your personal and professional well-being-now and in the years to come-are important to us. Busey's Total Rewards include a competitive benefits package offering 401(k) match, profit sharing, employee stock purchase plan, paid time off, medical, dental, vision, company-paid life insurance and long-term disability, supplemental voluntary life insurance, short-term and long-term disability, wellness incentives and an employee assistance program. In addition, eligible associates may take advantage of pre-tax health savings accounts and flexible spending accounts. Visit BuseyTotal Rewardsfor more information.

Equal Opportunity

Busey values a diverse and inclusive workplace and strives to recruit, develop and retain individuals with exceptional talent. A team with diverse talent, working together, is essential to Busey's commitment of delivering service excellence. Busey is an Equal Opportunity Employer including Disability/Vets. VisitBusey.com/Careersto learn more about Busey's Equal Opportunity Employment.

Unsolicited Resumes

Busey Bank, and its subsidiaries, does not accept any liability for fees for resumes from recruiters or employment agencies ("Agency"), without a binding, written recruitment agreement between Busey and Agency describing the services and specific job openings ("Agreement"). Busey may consider any candidate for whom an Agency has submitted an unsolicited resume and explicitly reserves the right to hire those candidate(s) without any financial obligation to the Agency, unless an Agreement is in place. Any email or verbal contact with any Busey associate is inadequate to create a binding agreement. Agencies without an Agreement are requested not to contact any associates of Busey with recruiting inquiries or resumes. Busey respectfully requests no phone calls or emails.