Mortgage-Backed Securities.

Configures debt instruments backed by mortgage pools and allocate claims on principal and interest

Software spend $68,000 / seat / yr

What this role actually does

Responsibilities and pain points, sourced from the production graph.

Software pain points

Collateral data arrives in inconsistent issuer, servicer, and trustee formats
Pricing comps are fragmented across Bloomberg Terminal, TRACE, dealer runs, emails, and prior-deal books
Model assumptions and overrides are hard to audit after launch
Legal, rating-agency, and investor requests create repetitive manual document work
Market-data contracts restrict redistribution of vendor-derived prices and analytics
Post-close surveillance is disconnected from origination assumptions

Workflow

A day in the workflow.

Starts before market open by checking overnight rates moves, agency MBS screens, ABS new-issue calendars, Bloomberg Terminal runs, dealer runs, and collateral tape exceptions. Mid-morning is usually spent normalizing loan-level tapes in Microsoft Excel, testing prepayment/default assumptions in Yield Book or Intex, and reconciling collateral stratifications against trustee, servicer, and rating-agency data. Afternoons move into issuer calls, investor reverse-inquiry checks, spread talk, rating-agency Q&A, legal-doc redlines, and internal risk or capital-committee prep. The work is software-heavy because a small collateral-field mapping error can change credit enhancement, WAL, OAS, rating outcomes, and investor pricing at the same time.

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