Job Description

Lock Desk Analyst - Large Bank

Salary Range:

$55,350 - $75,000

Description

The Locks Desk Analyst will execute consumer rate locks and act as a liaison to origination, including rate lock policies and procedures. Must have a general understanding of compliance along with comprehension of agency and investor guidelines.

This position is 100% onsite.

Primary responsibilities include, but are not limited to:

• Fulfills incoming rate locks, extension and reprice requests in product pricing and eligibility platform.
• Document and obtain management approval of all exception pricing requests.
• Update buy side and sell side pricing on secondary registration on Encompass.
• Review, verify, and provide price quotes for Agency, Jumbo, Non-QM and Portfolio to sales personnel
• Verify investor and product eligibility prior to confirming rate lock.
• Produce daily salable and portfolio products rate sheet, and distribute it bank-wide
• Validating margins and product offering on the product pricing and eligibility platform.
• Produce daily reports on loans pending sale and mark to market report
• Manage timelines for rate lock expirations and extensions.
• Oversee adherence of secondary and rate lock policies and procedures
• Assist in evaluating Fair Market Value of Interest Rate lock Commitment
• Prepare and provide daily Loans Pending Sale report for management’s review
• Assist in finalizing the profit and loss by the various cost centers and loan officers
• Prepare and maintain the reporting sales commissions and present to management for approval
• Evaluate originator and TPO efficiency. Track pull through profitability tied to secondary ROI

Requirements

• 1+ years Lock Desk experience required on a Lock Desk and/or Mortgage-Backed Securities
• Understanding of interest rate dynamics and MBS pooling.
• Detail oriented with a high degree of accuracy.
• Proficiency with MS Excel, Word.
• Ability to work with a high degree of accuracy in a fast-paced work environment.
• Strong interpersonal skills and ability to communicate effectively with sales and operations staff, as well as investors.
• Meet expectations for attendance and punctuality.

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