Lock Desk Specialist

Job Description:
The Lock Desk position includes the many variables involved in reviewing and verifying locks requests. Committing loans with many investors and issuing confirmations to appropriate parties is included as well. Also included is the entering of lock request and confirmation information accurately and efficiently into the LOS. Some rate sheet development including rates, pricing, adjustments may also be necessary. The Lock Desk plays a critical role in the profitability of each loan by being responsive to an ever-changing unpredictable set of circumstances (i.e. market movement, volume levels, loan characteristics affecting price, investor requirements, etc.) This position is fast-paced, deadline-driven, and offers a variety of tasks throughout the day.
Responsibilities
• Processing & Completing New Lock Requests
• Adjusting & Extending Locks per client requests
• Communicating with clients regarding Lock Updates/Requests
• Securing locks with investors in 3rd party systems
• Reviewing daily Lock Reports and updating the system
- Maintain accurate pipeline/loan level accuracy via the following task:
• Rate locks
• Relocks
• Lock extension cost
• Loan parameter changes
- Inputting detailed notes of any changes made in the file regarding loan terms or price.
- Enter the market price at the time of lock for “Mark-to-Market” and estimated GOS.
- Completing best-effort locks commitments with Investors via online portals:
• Lock with investor for BE executions or enter into hedge report for bulk executions
• Upload 3.4 file, register loan
• Select product, price, and lock term.
• Download lock confirmation and upload to LOS
- Monitor Pipeline integrity by running reports including the following:
• Lock expiration report
• Stagnant pre-lock report
. Cancel loans not disclosed within 3 days when instructed
. Purchase Advice Reconciliation by verifying premium, escrows, payment dates, accrued interest, and fees are tracked accurately.
• Accurately and efficiently entering loan information required for locking, relocking, modifying, and extending mortgage commitments
• Verifying pricing on all lock requests and confirmations
• Committing loans with 3rd Party Investors
• Assisting inbound callers with pricing registration questions and procedures
• Reconciling daily locks
• Resolving price discrepancies at the time of lock, and again at the time of loan purchase
Required Skills
To perform this job successfully an individual must be able to perform each essential duty satisfactorily. The requirements listed below are representative of the knowledge, skill, or ability required/preferred.
• 2+ years of rate lock experience
• Must be proficient using Word, Excel, Outlook, Lending aka Meridian Link Mortgage
• Have a working knowledge of many investor websites for pricing, commitments, and other pertinent data
• Must have excellent written and verbal communication skills, problem-solving ability, and an aptitude for math, which includes calculating percentages
• Detail Oriented
Job Type: Full-time
Expected hours: 40 – 45 per week