Senior Lock Desk Coordinator

Genesee Regional Bank

• $80K — $105K *
Finance & Insurance
5 - 7 years of experience
Job Overview by Ladders

Qualifications

  • Bachelor's Degree in Finance or related field preferred.
  • Minimum of 5+ years of secondary mortgage market experience.
  • Direct lock desk experience preferred.
  • Strong attention to detail and accuracy.
  • In-depth knowledge of secondary market and mortgage program guidelines.

Responsibilities

  • Oversee daily pricing and lock desk functions for the Secondary Mortgage Market.
  • Manage rate lock extensions, repricing requests, and publish mortgage rate sheets.
  • Administer the mortgage product and pricing engine ensuring data accuracy.
  • Analyze market trends to support optimal pricing strategies for sales.
  • Provide training to sales on pricing policies and procedures.
  • Facilitate the onboarding of new investors and products for loan sales.
  • Assist with resolving post-close price adjustments and track investor fees.

Benefits

  • Collaborative and supportive work environment.
  • Opportunities for professional development and training.
  • Exposure to the latest trends in the mortgage industry.
  • Potential for extended interactions with external vendors and stakeholders.
  • Engagement in meaningful projects and initiatives.
Full Job Description
Salary Range: $80,000 - $105,000

PRIMARY RESPONSIBILITY:

The Senior Lock Desk Coordinator is responsible for daily pricing and lock management functions related to the Secondary Mortgage Market. They will support and provide back-up for loan pricing, pipeline management, and timely delivery and sale of residential mortgage loans to the Bank's investors.

ESSENTIAL FUNCTIONS:

  • Oversee the day-to-day Secondary Market pricing and lock desk functions including:
    • Manage rate lock extension and relock requests
    • Manage lock reprices for changes and updates to loan and program parameters
    • Generate daily mortgage rate sheet and publish internally
    • Assist with reporting and tracking related to pricing and profitability
    • Assist Sales Team members on loan scenario reviews; including providing feedback on program and product eligibility and potential pricing options to ensure optimal deal flow
  • Administration of the mortgage product and pricing engine (PPE)
    • Ensure loan data and pricing accuracy between PPE and investor rate sheets for all saleable products
    • Ensure bank's MSR pricing is accurate across servicing retained products
    • Ensure bank's margin structures, overlays, and lock policies are maintained within system
    • Analyze investor pricing and make rate/price update recommendations to management as appropriate
    • Manage system updates and perform issue analysis; including identifying root causes, managing vendor escalations, and providing timely resolutions.
  • Analyze market trends, interest rate movements, and investor guidelines to determine optimal pricing strategies to support Sales Team while maintaining profitability metrics.
  • Maintain strong knowledge of investor requirements and changes as they relate to loan sale. Provide regular and timely updates to department on any investor program changes.
  • Provide initial and ongoing training to Sales Team on pricing policy, procedures, and systems.
  • Facilitate the set-up of new investors, programs, and products to ensure seamless processing flow and successful loan sale. Work closely with Management to implement and communicate any operational changes.
  • Provide back up for hedge reporting reconciliations and loan commitments
  • Maintain up to date knowledge of mortgage regulations.
  • Assist with investor follow up on disputable post close price adjustments and fees; tracking investor fees to identify and address trends.
  • Serve as back up for investor purchase advice reconciliation.
  • Interface regularly with Loan Originators, Operations staff, and outside vendors.
  • Manage mortgage related projects and initiatives as directed by management.
  • Actively participate in demonstrating the behaviors outlined in The GRB Experience.
  • Other duties as assigned.


EDUCATION AND EXPERIENCE:

Bachelor's Degree (Finance preferred) and a minimum of 5+ years of mortgage secondary market experience, or the equivalent combination of education and experience.

  • Direct lock desk experience preferred
  • Strong knowledge of secondary market and mortgage program guidelines.
  • Strong attention to detail


COMPETENCIES:

  • Provide a remarkable client experience. Greet clients with warmth, genuine interest and a smile.
  • Lead by example. Identify current or potential problems, take ownership and see them through to resolution.
  • Act as a unified team. Possess strong interpersonal skills including the ability to proactively communicate with and help others, within and across departments.
  • Ability to work independently. Seek and incorporate feedback on your performance from management, coworkers and clients.
  • Demonstrated PC literacy.


PHYSICAL DEMANDS:

While performing the duties of this job, the employee is regularly required to use hands or fingers, handle, or feel and reach with hands and arms. The employee frequently is required to stand, sit, and talk or hear. Specific vision abilities required by this job include close vision, distance vision, and ability to adjust focus.

WORK ENVIRONMENT:

The work environment is an indoor, climate-controlled office setting.

Reasonable accommodation may be made to enable individuals with disabilities to perform the essential functions.

THIS JOB DESCRIPTION IS SUBJECT TO CHANGE AT ANY TIME.

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