I haven't seen any posts regarding secondary marketing and capital markets in residential real estate and wondered if there any people here in my line of work.
I've been in secondary marketing / capital markets for the past couple of years at a small residential lending company. And because of high turnover and poor company culture, our director left leaving me in charge to manage a team of three. This is unusual since I only have two years experience working in the role, but because everyone with more experience left and the company hasn't been able to bring in a new director, the managing responsibilities were left to me. I've made the most out of this opportunity while handling all the duties, but I've reached a point where I can't learn anything new on my own or from the investors I work with.
I enjoy the work and appreciate the CEO trusting me with managing the team but recognize that my company will not recruit people smarter or more experienced than I am nor invest in the latest industry tech. I would rather give up my more-or-less autonomy, undeserved title and pay, and "comfortable" team dynamic to be able to learn more and grow in the role elsewhere. I'm open to joining another lending company with the same role, joining an investor I sold loans to (Wells Fargo, Citi, PennyMac, etc.), or joining a GSE like Fannie/Freddie.
Are there others here who are/have been in secondary marketing? What do you do now and what's your experience been like?
edit: feel free to PM me if you're in resi real estate and want to connect. happy to share my experiences and hopefully benefit yours.
What is secondary marketing? Are you referring to taking loans from loan officers/ mortgage brokers and selling them off to said investors?
If so- PM me. I worked in the resi space for a bit. I think there is a lot more opportunity there than people on this forum see.
Also read http://www.c-loans.com/pre_joomla/ethan_penner_interview.pdf</a">this article about Ethan Penner.
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