Mortgage Price Desk/Software Specialist

1 month ago


Coralville, United States Hills Bank Full time
Job DescriptionJob Description

SCHEDULE :Full-time; Monday through Friday; 9:00am-5:30pm. Average of 40 hours/week with overtime as needed.

LOCATION: 1009 2nd Street, Coralville, Iowa 52241

BENEFITS: Our employees are our most valuable assets, so we invest in them with a comprehensive and competitive benefits package. Our philosophy of taking care of the customer extends to taking care of our employees so that they, in turn, can take good care of themselves and their families. Join Hills Bank and let us surprise you with even more perks


SCOPE:

The Mortgage Price Desk/Software Specialist is responsible for day to day management of the Price Desk. This includes but is not limited to, the daily publishing of mortgage rates on the website, reviewing price quotes, locking requests, accurately registering new loans with investors, issuing confirmations to appropriate parties, entering rate lock information within the company's loan origination system (LOS), and answering questions for home mortgage lending and operational teams.


The Price Desk plays a critical role in ensuring 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, pipeline etc.). They perform a variety of tasks every day, including month-end and quarterly reporting, reconciling investor purchase advices, balancing internal accounts, etc.


This position will also assist the Mortgage Software Officer with daily maintenance and troubleshooting of the LOS, and ancillary software. In addition the Mortgage Price Desk/Software Specialist is expected to be the lead administrator for the company's pricing engine which will require configuration and ongoing maintenance.


ACCOUNTABILITIES:

Price Desk Management:

  • Prepare and post daily mortgage rates on the internet.
  • Monitor and maintain lock queue for lock requests and lock all loans with investors in a timely manner, ensuring pricing calculations are accurate.
  • Accurately and efficiently enter loan information required for locking, relocking, modifying and extending mortgage commitments, and verify pricing on all lock requests and confirmations.
  • Closely monitor all lock expiration dates and process extensions as needed.
  • Report all pricing variances/policy exceptions which occur at the time of lock, or after processing changes have been made, before closing. Get appropriate approval for rate exceptions.
  • Understand TRID timing and how price desk changes may affect timing requirements. Identify loans that require updated disclosures to be sent.
  • Monitor Price Desk email inbox and provide timely and professional responses to all pricing inquiries.
  • Reconcile investor purchase advises and address any discrepancies, ensuring margins are maintained.
  • Assist lenders, processors, and closers with lock questions, rate quotes, adjustments, investment features/restrictions, rate renegotiations and other scenarios.
  • Prepare Open House Flyers by completing loan scenarios within the LOS.
  • Prepare lender rate sheets Mondays, Fridays or as requested.
  • Process administration and configuration changes, as well as ongoing maintenance within the company's pricing engine.
  • Create/compile reports as requested by management.
  • Continually research products and guidelines to learn restrictions and adjustments.
  • Balance internal accounts timely.

Loan Software Support:

  • Support daily maintenance and troubleshooting of software, including third party vendors.
  • Support and troubleshoot lenders and customers with eConsent questions.
  • Assist with configuring LOS applications(s), reports, workflows, etc.
  • Assist with system enhancements/updates and testing
  • Assist with ongoing maintenance, creating forms, writing rules.

Other:

  • As part of the overall team of bank employees, this position may be requested to assist in the support of other bank activities.
  • Will perform other duties as assigned.

EDUCATION AND SPECIAL REQUIREMENTS:

  • Associate's degree or equivalent from two-year college; four to five years of related experience; or equivalent combination of education and experience.
  • Extensive knowledge and proficiency with Microsoft Office products, especially Excel and Word.
  • Ability to learn loan origination software, proprietary price desk software and how to navigate investor websites for pricing, commitments and other pertinent data. Possess a high comfort-level for learning new software.
  • Aptitude for mathematics, working with numbers including calculating percentages and accounting; tasks such as data entry, proofing, and balancing.

EQUAL OPPORTUNITY EMPLOYER



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