Legal, FICC - Structured Finance, Mortgages Attorney, Vice President, New York or Dallas

The Legal Department seeks an experienced attorney to join the Structured Finance and Mortgages legal team to serve as legal counsel to the residential mortgage loan trading desk. This individual will be the primary legal point of contact for the negotiation, drafting and execution of whole loan purchase and sale documentation across all residential mortgage loan types in bulk, flow, and co-issue transactions.   

The role requires daily, hands-on partnership with the trading desk, loan management, consumer compliance, and other internal control functions to move transactions from bid to closing efficiently while managing legal and regulatory risk.

This is a highly visible role for an attorney who thrives in a fast-moving trading environment, is comfortable owning transactions end-to-end, and wants direct exposure to senior business leaders and cross-functional stakeholders.

Principal Responsibilities

• Lead negotiation and drafting of Mortgage Loan Purchase Agreements (MLPAs), flow sale and forward purchase agreements, and related ancillary documentation (bills of sale, assignments, custodial agreements, interim servicing agreements) across all residential whole loan asset classes.

• Serve as primary deal counsel for the residential whole loan trading desk on a day-to-day basis, providing real-time legal support on deal structuring, pricing mechanics, representations and warranties, repurchase/make-whole remedies, and loan-level due diligence issues.

• Partner daily with loan management and operations on loan boarding, custodial and bailee arrangements, servicing transfers, document exception management, and post-closing loan file remediation.

• Coordinate closely with consumer compliance and the Fair Lending/Regulatory teams to ensure transactions comply with applicable federal and state consumer protection laws, including TILA, RESPA, the CFPB's Ability-to-Repay/Qualified Mortgage rule, HOEPA/high-cost loan requirements, state licensing and usury laws, and investor/agency (Fannie Mae, Freddie Mac, Ginnie Mae) eligibility requirements.

• Advise on representations, warranties, and repurchase frameworks, including defect taxonomy, loan-level and pool-level remedies, indemnification triggers, and dispute resolution mechanics in the event of breach claims.

• Manage outside counsel on specialized or high-volume documentation projects, ensuring quality, consistency, and cost efficiency.

• Support due diligence processes, working with third-party diligence providers, the trading desk, and legal on loan file review scope, exception grids, and risk acceptance decisions.

• Draft and negotiate master agreements with repeat counterparties (originators, aggregators, GSEs, and institutional buyers/sellers) to streamline future transaction execution.

• Monitor legal and regulatory developments affecting the residential whole loan market, including CFPB rulemaking, state mortgage lending/servicing laws, GSE/FHFA policy changes, and judicial developments affecting loan enforceability, and advise the business proactively on impact.

• Collaborate cross-functionally with tax, controllers, and technology on transaction structuring, new product approvals, and process improvements.

• Assist with internal policies and playbooks for whole loan transaction execution, escalation protocols, and training materials for business partners.

   

Qualifications/Skills

• J.D. from an accredited law school and active bar membership in good in at least one state.

• 4+ years of relevant transaction-based legal experience with substantial experience in residential mortgage whole loan trading, mortgage securitization, or related structured finance/consumer lending practice at a top tier law firm, bank, or non-bank mortgage originator/aggregator
• Strong working knowledge of residential mortgage products (first lien, second lien/HELOC, non-QM, jumbo, agency-eligible, and non-performing/re-performing loans).
• Working knowledge of applicable consumer financial protection laws and regulations (TILA, RESPA, ECOA, HMDA, CFPB ATR/QM rule, state licensing/usury regimes) and GSE/Ginnie Mae requirements.
• Proven ability to manage multiple, time-sensitive transactions simultaneously in a high-volume trading desk environment.
• Excellent judgment, strong business acumen, and the ability to provide clear, pragmatic, risk-calibrated advice directly to trading and business personnel under time pressure.
• Exceptional drafting, negotiation, and communication skills, with the ability to build trusted relationships across Trading, Compliance, Risk, Operations, and senior management.
• High degree of independence, ownership, and accountability; comfortable operating with a "desk lawyer" mentality embedded in a commercial business.
• Adept at developing interpersonal relationships.