Rate Lock Operations Specialist

2 weeks ago


Remote, Oregon, United States Bayshore Mortgage Funding LLC Full time

Position Overview

The Rate Lock Operations Specialist plays a crucial role in the registration and dissemination of rate lock details and pricing for all loan products. This position involves selling and delivering loans to investors, ensuring that all necessary reporting is provided to the investor, and facilitating timely management reports regarding loans that have been originated, sold, and serviced.

Key Responsibilities

  • Generate and distribute daily rate sheets
  • Confirm and accept locks from various channels including retail, wholesale, and correspondent
  • Monitor locks and implement rate adjustments or extensions as needed
  • Comprehend and relay investor policies and requirements
  • Register loans with relevant state agencies and manually lock loans within the Encompass system
  • Finalize pricing for all loans prior to closing and resolve any discrepancies
  • Oversee pipeline rate lock policies to ensure profitability across varying market conditions
  • Maintain and update data in Optimal Blue, including branch/company margins, compensation plans, investors, products, fees, and user profiles
  • Transmit daily rates and confirm trades with MCT through their online platform
  • Compile weekly loan sale reports and collaborate with MCT on the weekly sale of eligible loans
  • Input daily Purchase Advice data into Encompass
  • Investigate pricing discrepancies on Purchase Advises in conjunction with Post-Closing and/or Investor
  • Prepare monthly Lenders One Reporting and Management Leakage Reports
  • Develop and maintain weekly presentations for sales and processing teams, including scheduling, creating promotional materials, and archiving presentations for future reference
  • Complete and submit new lender applications and manage current investors with monthly and annual recertifications, including training for new investors with Operations staff
  • Address requests from Loan Officers and processors regarding scenarios, guidelines, investor logins, and Account Executive contact information
  • Perform additional duties as assigned


Required Skills

  • Proficient in analyzing financial and qualitative data
  • Ability to identify issues and implement effective solutions
  • Strong organizational skills, collaboration, and multitasking capabilities
  • Excellent communication and mathematical skills
  • Advanced skills in Adobe PDF

Education & Experience

  • Bachelor's degree preferred or equivalent professional experience
  • 3-5 years of experience in secondary marketing with a comprehensive understanding of the mortgage industry
  • Familiarity with Optimal Blue, MCT, and Encompass is preferred
  • Proficient in MS Office Suite, particularly Excel


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