Joel Moseman (15') completed an internship at Union Home Mortgage in the secondary marketing department. The secondary marketing department is the department where loans were originated and processed and then sold to other entities such as Ginnie Mae or Fannie Mae.
Although the internship was not an actuarial position, it was loosely related. Moseman updated loan information and sometimes loan pricing, based on changed characteristics of the loan or the applicant. Risk characteristics such as the borrower's FICO score and down payment amount affect pricing. Moseman also learned about how interest rate risk was managed.