Pine River Capital Management

MSR Transaction & Account Manager, Two Harbors

Job ID
2017-1886
# Positions
1
Experience (Years)
7
Category
Two Harbors - Structured Finance/Transaction Management

Overview

 Two Harbors Investment Corp.

 

Two Harbors Investment Corp. is a publicly traded mortgage real estate investment trust, or REIT. Our objective is to provide an attractive risk-adjusted total return to our stockholders over the long-term through dividends and capital appreciation. Our mission is to be recognized as the industry-leading mortgage REIT.  We take an opportunistic investment approach to the residential mortgage sector, including residential mortgage-backed securities, mortgage servicing rights and other financial assets.

Two Harbors today is the largest hybrid mortgage REIT with a market capitalization of over $3 billion. Two Harbors is externally managed and advised by PRCM Advisers LLC, a wholly owned subsidiary of Pine River Capital Management L.P.  Two Harbors trades on the NYSE under the ticker symbol “TWO”.

 

Pine River Capital Management

Pine River Capital Management is a global alternative investment firm focused on relative value trading across a wide range of markets, regions and asset classes. Founded in early 2002, the firm provides alternative investment solutions to qualified clients through commingled hedge funds, separate accounts, listed investment vehicles, and committed capital vehicles. Pine River is headquartered in Minnetonka, Minnesota, with offices in New York, London, and Hong Kong.

 

Position Description: The Transaction Manager will be responsible managing the purchase and sale logistics for mortgage servicing right (MSR) transactions, as well as the ongoing management of post-transaction obligations. This role will be responsible for ensuring all critical tasks/milestones are completed on time to support successful deal execution, while building strong seller relationships and business controls. The Transaction Manager role is essential to the success of the MSR strategy.

 

Responsibilities

  • Serve as the main point of contact for business negotiations, deal management and relationship management to external counterparties for the purchases and sales of MSR. Implement and execute the transaction terms among external counterparties and internal stakeholders to provide a seamless transition.
  • Support negotiations of letters of intent and purchase and sale agreements with counterparties, and across the Trading and Legal functions, for the co-issue MSR program.
  • Coordinate the operational implementation of counterparties within the co-issue MSR program across multiple business functions. 
  • Serve as an escalation point for operational issues both internally and with the counterparties, including spearheading initiatives and process changes.
  • Establish framework and document changes to the evolving MSR co-issue program.
  • Manage all aspects of the bulk MSR acquisition program, including contract negotiations, third-party file reviews, settlement, and post-settlement processes.
  • Serve as the subject matter expert for capital markets and operational processes pertaining to the purchase, sale, and ongoing administration of the MSR portfolio and MSR counterparties.
  • Create policies and procedures complete with internal controls to ensure sound risk management practices in operational processes.
  • Manage the due diligence process and vendor(s) for bulk MSR acquisitions and sales.

 

Qualifications

  • Undergraduate degree (preferably in accounting, finance, legal, or other business related field).
  • 7+ years of experience in mortgage servicing and originations
  • Knowledge of GSE and government MSR purchase transactions and requirements, and Fannie Mae, Freddie Mac, and Ginnie Mae origination and servicing guidelinesExhibits exceptional project management and analytical skills with a strong focus on attention to detail.  Ability to efficiently sift through large amounts of information and spot trends and inconsistencies.
  • Ability to consistently demonstrate high quality decision making, keen problem solving and analysis skills while paying strong attention to detail and managing multiple time sensitive tasks.
  • Embraces change and demonstrates the flexibility to engage in multiple projects simultaneously.
  • Effectively assesses and prioritizes workload to meet deadlines in a dynamic and fast-paced environment.
  • Strong written and verbal communication skills, with demonstrated ability to effectively communicate with internal and external customers, peers, and management.
  • Current, working knowledge of the MS Office Suite, including: Outlook, Word, Excel, Access, and PowerPoint.

 

Key words: 

Transaction Manager, Deal Manager, Account Manager/Management, Business Development, Relationship Manager/Management, Client Service, Capital Markets, Secondary Markets, Servicing, MSR, Mortgage Servicing Rights, Contract Negotiation, Structured Finance, Project Finance, Contracts, Due Diligence

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