RATE LOCK SPECIALIST
The Rate Lock Specialist is responsible for the interest rate and pricing accuracy when locking and extending mortgage loans with the lock desk business partners. This position analyzes loans during requests for changes on rate lock commitments when product or parameter changes occur to ensure accurate pricing updates and compliance with regulations. He/She is responsible for staying current with regulatory compliance regulations that include Reg Z (Lender Compensation), Qualified Mortgage (QM), Higher Priced Mortgage Loans (HPML), TILA-RESPA Integrated Disclosure (TRID), rate lock policy and procedure, as well as product guideline changes. Role is critical in loan pricing as it directly impacts the profitability of the Mortgage division.
- Expert knowledge in pricing accuracy and analysis in working in our loan origination system (Ellie Mae Encompass). Occasional manual manipulation of data will be required in instances where automation is not available. The Lock Desk specialist will also update pricing on loans as scenarios change through the automated interface (Optimal Blue), discuss with retail loan officers’ options for their scenarios and apply approved price concessions on loans for competitive purposes or operational errors.
- Reviews internal quality control communications regarding pricing, procedure and compliance discrepancies and responds to findings of daily audits.
- Minimum 3 years customer engagement and relationship building
- Mortgage experience is preferred
- Strong customer service skills are a must. Ability to interact with all levels of business partners will ensure success in this role.
- Ability to handle challenging loan scenario(s) with business partners to ensure outcome is fair and relationship with the business partner is maintained.
- Excellent written and oral communication skills
- Ability to utilize multiple loan origination systems at any given time
- Working knowledge of Microsoft Office suite
- Analytical and problem solving skills with an ability to think quickly under pressure
- Maintain composure under complex loan resolutions scenarios while exhibiting STAR values at all times