Lock Desk Associate

The Lock Desk Associate provides specialized analytical support to Loan Officers in the management of their rate lock process for residential mortgages on the secondary mortgage market. Lock Desk Associates are responsible for reviewing and verifying lock requests, locking loans with investors, entering data accurately and efficiently into the loan origination system, pricing loan scenarios for multiple products, profile changes, extension requests, and relocks/cancellations within the pricing engine. The Lock Desk Associate routinely identifies issues, compiles data, analyzes data, and creates reports.

Please note that this is for an in-office position based out of our corporate office in Brookfield, WI.

Essential Duties and Responsibilities:

• Work closely with Loan Officers, Processors, and Underwriters to coordinate rate locks based on market conditions and borrower preferences.
• Confirm lock requests from Loan Originators in a timely manner
• Respond to customer queries regarding pricing, lock rates, and programs.
• Assure the validity/integrity of the rate lock request.
• Make necessary changes and apply extensions to locks when requested.
• Maintain and enforce rate lock policy with loan originators.
• Take out commitments for delivery of loans to an end investor.
• Take direction from the VP of Secondary Marketing for current MBS market conditions and issue re-priced rate sheets.
• Build and run reports within the LOS (Encompass), as needed.
• Validate and reconcile loans purchased from investors.
• Perform other duties as assigned.

Qualifications:

• High School Diploma required; Bachelor’s degree preferred
• 2+ years of Lock Desk or Secondary Marketing experience- required
• Encompass experience preferred
• Optimal Blue experience- strongly preferred
• Working knowledge of Microsoft Office product
• Strong attention to detail- Precision in data entry and calculations
• Adaptability – Flexibility to handle changing market conditions.
• Knowledge of mortgage products and guidelines- strongly preferred