FirstKey Mortgage Rotational Summer Intern

Company Background

FirstKey Mortgage, LLC ("FirstKey") is one of the world’s leading private label securitization and asset management firms.  We are a boutique financial services company with a primary focus on the buying and securitizing of residential mortgage loans and other consumer receivables.  Since inception FirstKey has excelled in acquiring, securitizing and managing real estate and other related assets in the U.S. and Europe. 

Established in 2013, FirstKey is a proprietary operating company indirectly owned by certain funds managed by affiliates of Cerberus Capital Management, L.P. (“Cerberus”), a global leader in alternative investing, and has participated on over $80+ billion rated securitization transactions across 85 bespoke ABS/MBS deals globally. 

FirstKey employs approximately 50 mortgage banking professionals.  Our officers and directors have an average of 20+ years of industry experience.

FirstKey strives for business excellence and superior execution with the following critical functions:

• Managing the asset bidding and asset acquisition processes 
• Efficient asset document review using machine learning and optical character recognition
• Vetting of assets for any issues with lending laws, taxes, or underlying collateral value
• Payment collection, surveillance, and loss mitigation once the asset is purchased
• Securitization of loans into bonds and marketing these assets to institutional investors

FirstKey Mortgage Rotational Summer Intern

The FirstKey Mortgage Summer Intern program is a 10-week paid program consisting of two rotations across fixed income teams at the firm’s headquarters at 900 Third Avenue in Midtown Manhattan NYC.  The two rotations will be in the Residential Mortgage/Consumer Finance and Structured Finance teams.

As a summer intern, you will have a unique opportunity to gain exposure to the following teams:

• Residential Mortgage Finance – collateral related to all residential mortgage related such as agency and non-agency residential mortgage loans (including home equity loans), mortgage servicing rights, and single family rental (SFR) properties; assist in reviewing and evaluating RMBS deal structures; gain exposure to structured finance, the rating agency process
• Consumer Finance – collateral spanning a wide range of consumer (auto loans and leases, credit cards, student loans, personal loans) financial products; assist in reviewing and evaluating new consumer ABS deals, helping to perform due diligence and underwriting; gain exposure to portfolio management by helping track asset performance and collaborate with internal teams on portfolio management.
• Structured Finance – responsible for sponsoring, structuring and securitizing bonds backed by various types of collateral to provide liquidity and term securitization (non-recourse) funding; evaluating portfolios of loans held by financial institutions for asset and platform dispositions; and sourcing assets for potential investment by certain funds under management, part of its asset back opportunity strategy.

Your training and development is our top priority.  Throughout the internship, you will work closely with experienced team members, support live transactions, and develop a solid understanding of financial markets and investment strategies.

Focus/Objectives:

• To introduce mortgage loan trading and securitization concepts
• To develop an understanding of the platform’s investment strategy and approach
• To build technical skills in financial data analysis and performance reporting
• To provide experience in residential mortgage and consumer loan acquisition, securitization and asset management
• To offer exposure to financial industry functions, including trading, structured finance, asset management, due diligence, transaction management, and contract negotiation

Job Description and Responsibilities

• Mortgage loan data reconciliation, analysis, stratification and reporting
• Assist in organizing, tracking, and reviewing market offerings and bid packages
• Support asset pool reviews, trade settlements, and deal execution
• Strengthen portfolio management processes and investor reporting
• Support team in all aspects of evaluating potential investment opportunities
• Conduct asset level analysis on collateral data and creating loan and bond financial models
• Working on live ABS/MBS securitizations issued off our securitization platform – with exposure throughout the deal preparation, marketing, pricing and closing processes
• Communicating and interacting with both FirstKey management and the Cerberus trading desk

Qualifications

• Pursuing a Bachelor’s or Master’s degree in Finance, Economics, Business or related field, with expected graduation between May 2026 through August 2028 or recent grad.
• Ideal candidates will have a GPA of 3.2 or above,
• Strong interest in structured finance, asset management, and capital markets
• Demonstrate a combination of academic aptitude, quantitative skills, strategic and creative thinking and strong written and oral communication skills
• Highly motivated, self-starter with a desire to learn, ask questions and engage with colleagues
• Comfortable working with large financial data sets
• Proficiency in MS Excel, PowerPoint, familiarity with other financial software/tools and SQL are a plus.
• Must be legally authorized to work in the United States

Duration/Timeline/Rate:

• 10 week rotational program
• Hourly rate: $30.00

The duties and responsibilities described here are not exhaustive and additional assignments, duties, or responsibilities may be required of this position. Assignments, duties, and responsibilities may be changed at any time, with or without notice, by FirstKey in its sole discretion.