Lock Desk Specialist

Description

Job Description

Department/Branch: Pricing/Corporate   Operations

Reports to: Senior Vice   President – Capital Markets

FLSA Status: Non-Exempt

Work Schedule: Full-time 

Locations: Remote

POSITION SUMMARY DESCRIPTION

Deliver accurate, timely pricing to Loan   Officers, Processors, Closers, and the Disclosure Desk to support compliance   with investor guidelines and customer satisfaction.

Primary objectives

Deliver accurate, timely loan pricing   aligned with investor guidelines and company policy

Execute and manage all rate lock   activities (locks, changes, extensions, relocks) with precision

Maintain lock pipeline integrity,   proactively resolving data issues and discrepancies

Ensure compliance with regulatory   requirements and investor eligibility standards

Identify and resolve pricing and lock   exceptions to minimize risk and ensure salability

Provide responsive guidance and   service to Loan Officers and operations partners

Support loan structuring and secondary   market execution through proper setup and pricing accuracy

Requirements

Responsibilities

1. Produce and distribute a high volume of Lock   Confirmations to appropriate person(s). Execute new Lock Requests and monitor   new lock pipeline for missing data and notify LOs. Execute lock revisions, extensions, locks and re-locks, including, but not limited to loan parameter   changes, extensions, relocks and rate renegotiations. 

2. Appropriately cancel locks as directed by the Loan   Team. Analyze and resolve operational issues with rate lock mismatches.   Analyze and resolve operational issues with rate lock mismatches.

3. Execute Lock Requests and inquiries daily via e-mail   and the ticketing system. 

4. Participate in internal report review, provide   accurate analysis, helps identify and addresses any pipeline issues.

5. Work as a team with sales, processing, underwriting, closing, correspondent counterparties and management. Maintain high level of   customer service when processing changes submitted by loan officers or   operations team members. Notifying loan officers of lock expirations. Answer   pricing emails and phone inquiries promptly and professionally. Provides firm   guidance relating to lock policy and procedures.

6. Demonstrate proficiency in DAS-specific procedures.   Assist branches with ATR/QM testing and ensure loans pass Mavent testing   before disclosures. Accurately code and register loans in Encompass or the   designated loan origination system and apply basic guidelines and   underwriting criteria when structuring loans.

7. Perform assigned duties as directed by Lock Desk Lead.   Supports and assists with other projects and reporting as necessary.

8. Process, complete and close all tickets assigned by   the team lead in an accurate timely manner.

9. Have a thorough understanding and ability to complete   all tasks assigned by the Team Lead.

10. Complete all loan commitments and write them back as   assigned.

11. Perform all mandatory and appraisal reviews assigned.

12. Perform all other duties and tasks assigned.

Job Requirements

Broad Knowledge & Experience 

Residential   mortgage banking industry, familiar with Conventional, FHA, and VA mortgage   products. Clear understanding of CFPB   and current RESPA laws and guidelines. Knowledge of Secondary Best-Efforts and Mandatory   Secondary Mortgage practices.

Above Average Skills

Excellent written   and verbal skills. Basic   proficiency in Microsoft Office (Excel, Outlook, Word)

Demonstrated Ability

Critical thinking   with ability to multi-task, organize & prioritize workflow. 

General Knowledge 

Deep understanding of investor and correspondent pricing   and guidelines. Understands the   importance of locks and extensions and loan level pricing changes. Understands the dynamics and implications   of the Capital Markets.

Competencies

Analytical, Integrity, Adaptability, Customer Service, Communication Skills, Initiative, Planning/Organizing, Professionalism, Emotional Intelligence.

Education & Experience

Degree or Equivalent  

Economics or   Business degree is preferred; or equivalent combination of education and   experience.

Years’ Experience

Minimum one-year   related experience and/or training.

Specialized Training

Knowledge of   Encompass, Optimal Blue, TPO-Connect and various investor websites is   preferred.

Work Environment

Physical Demands  

Office   Environment: Daily computer usage requires close vision. 

Work Conditions

Fast-paced, high-volume activities.

Temperament

In order to proceed in this position high   attention to market change, trends, organization, and communication is a   must.

Benefits

Voluntary:   Medical, dental, vision, HSA, FSA, Short-Term Disability, Voluntary Life   Insurance, CHUBB Supplemental Insurance, Pet Insurance, 401K

Company Paid: Long-Term Disability, Group   Life Insurance, Employee Assistant Program (EAP), 401K Match, Employee Stock   Ownership Plan (ESOP)

Generous PTO!