Secondary Markets Analyst
Founded in 2016, Better is a digital-first homeownership company whose services included mortgage, real estate, title, and homeowners insurance. We leverage creative technology and innovation to make the homebuying journey more approachable and understandable. Here are some interesting facts to help you get to know Better:
- From its founding in 2016 through 2020, Better funded $30.9B in home loans and provided over $7B in cumulative coverage through Better Cover and Better Settlement Services, the insurance divisions of Better
- Ranked #1 on LinkedIn’s Top Startups List for 2020 and 2021
- Ranked #2 on Fortune's Best Companies for Millenials 2021
- Fortune Best Workplaces for Women 2021
- People Magazine Companies that Care 2021
- Inc Magazine's Best Workplaces 2021
- Top Women Originators 2021
- Our Founder and CEO was named in Comparably's Top 25 CEOs for Diversity
- Better has raised over $400M in equity capital since inception
Our company is made up of driven, passionate people who bring their unique backgrounds and perspectives to everything we do. We are committed to fostering diversity, multiculturalism, and inclusion. We encourage individual potential rather than years of experience. We see the value in each person’s perspective, and recognize their talents, regardless of what the market says. We believe it’s important to nurture a company culture that encourages curiosity and passion—from employee resource groups and learning opportunities to team outings and community outreach.
Better is a family of companies. Better Mortgage Corporation provides home loans; Better Real Estate, LLC provides real estate services; Better Cover, LLC provides homeowners insurance policies; and Better Settlement Services provides title insurance services.
A Better Opportunity:
Secondary sits within Capital Markets. This team is the revenue generating engine for Better and is deeply involved in strategic decision making. We discover, quantify, and implement new loan programs, as well as seek to maximize our gains from our loan sales with diverse investors such as Agencies, national banks, community banks, REITs, and conduits.
Better is looking for someone who is proactive, hungry, and has a thirst to progress their knowledge of fixed income markets. You would work on identifying potential investors, maximizing revenue with our existing relationships, as well as have a hand in maintaining our loan pipeline. The alpha we extract ultimately improves the rates and prices we show our borrowers.
Your ultimate goal at Better is to understand how our loans are priced, hedged, and traded, in order to improve execution and lower costs. This translates to borrower savings and revenue for Better.
Upon joining, you will first immerse yourself in Better’s mortgage process, from start to finish, so that you establish a firm understanding of Better’s building blocks. Better is unique and familiarizing yourself with our systems and technology is integral to adding value; we manufacture what we trade. The more nimble we are at harnessing our data and identifying opportunities, the more effective we become. You will have the opportunity to learn anything and everything about the mortgage market, but your passion to be an expert is what will drive your success. We cannot stress enough the importance of being proactive and hustling in this role.
About You:
- 2-4 years experience in mortgage loans and/or Mortgage Backed Securities
- Proactive, Unquestionable Hustle, and Self Driven
- Analytical and Logical
- Ability to multitask without compromising accuracy
- Proficiency in SQL/Excel is a plus
- Understanding of interest rate dynamics and the effect on different mortgage valuations
- Ability to articulate your findings in an understandable way to multiple audiences
- Humility and accountability that translates into strong collaboration and teamwork
- Ability to maintain composure in a fast-paced environment
Role & Responsibilities:
- Influence executive decision making by being the source of market color for the company.
- Function as the primary point of contact for trading desks of the largest mortgage buyers and institutional investors.
- Partner cross-functionally with our Engineering, Product, Sales and Marketing teams to drive strategy and optimize tactics as it relates to capital markets.
- Quickly and efficiently navigate data to help successfully tackle department and firm-wide initiatives.
- Learn the firm’s hedge analytics platform and become proficient at analyzing reports and understanding various valuation methods.
- Facilitate execution of loan sales and trading of MBS securities.
- Coordinate with internal operations teams to resolve loan sale and delivery issues.
- Analyze prepayment speeds and make recommendations on strategy and optimization as it relates to speeds and best execution.
- Analyze whole loan and MBS execution to determine trends and anomalies in investors’ pricing and develop actionable strategies for the secondary team to pursue.
- Manage pipeline activity, including high balance deliveries and front-end pricing, daily reconciliation of new locks, and mandatory vs. best efforts execution.
- Perform Ad hoc SQL requests.
- This role is designated as ‘Flex Mode,’ and is not a fully remote position. The number of days in office will vary based on role requirements. As such, employees must be located within commuting distance of the office and provide proof of COVID-19 vaccination.
Job req ID: (JR102087)
Better is requiring all US employees to be fully vaccinated in order to go into the office. Our priority is first and foremost the safety of our employees and we require COVID-19 vaccination to help ensure their safety in the workplace. Please note that Better will offer a reasonable accommodation process for employees who are not vaccinated for medical or religious reasons.
The Better mission is rooted in values that drive us.
- We do what’s in the best interest of the consumer, not ourselves
- We have growth mindsets, not fixed ones
- We believe that success lies in execution, not credentials
- We act like owners, not just employees
- We work to find answers on our own, not wait for them to be given to us
- We optimize for mission, not ego
Our mission speaks for itself—we continue to outpace the industry at every turn. We’ve joined forces in partnership with Ally Bank, and our backers have helped build some of the most transformative tech and finance companies in history. Kleiner Perkins, Goldman Sachs, American Express, Citigroup, Activant Capital, Ally Bank, and others have invested in our vision for what homeownership can be.
Better Benefits & Compensation
Our total rewards package consists of base salary, equity, benefits, and opportunity for yearly cash bonus. Some of our benefits include:
- Comprehensive healthcare, retirement, and voluntary benefits. Think medical, dental, vision, savings accounts, 401k, and more.
- Personalized care and tools for realizing your mental health and wellness goals
- Robust wellbeing offerings that allow you unlimited access to virtual fitness, meditation, yoga, cooking classes, homeschooling preparedness, physical therapy, and more.
- Unlimited time off (with manager approval)
- 12 weeks of paid parental leave after 90 days of employment, and 20 weeks after 24 months of service.
- Inclusive fertility benefits for you or your eligible dependents, regardless of participation in a Better medical plan.
Better is an equal opportunity employer. We do not discriminate on the basis of race, color, religion or religious creed, sexual orientation, gender, gender identity, marital status, family or parental status, disability, military or veteran status, or any other basis protected by law. All employment decisions at Better are based on a person’s merit, business needs, and role requirements.
California Consumer Privacy Rights Notice for Job Applicants
Under the California Consumer Privacy Act (CCPA), Better is required to inform California residents who are our job applicants or prospective talent (together "job applicants") about the categories of personal information we collect about you and the purposes for which we will use this information. The notice contains disclosures required by the CCPA and applies only to personal information that is subject to the CCPA.