What are the responsibilities and job description for the Secondary Lock Analyst position at Georgia Banking Company?
Description
Job Summary:
The Rate Lock Specialist is responsible for managing and processing mortgage rate lock requests, ensuring accuracy and compliance with investor requirements. This role involves monitoring market movements, maintaining investor rate lock pipelines, and working closely with sales and operations teams to maximize profitability.
Key Responsibilities
Equal Opportunity/Affirmative Action Employer Veterans/Disabled.
Job Summary:
The Rate Lock Specialist is responsible for managing and processing mortgage rate lock requests, ensuring accuracy and compliance with investor requirements. This role involves monitoring market movements, maintaining investor rate lock pipelines, and working closely with sales and operations teams to maximize profitability.
Key Responsibilities
- Rate Sheets: Coordinate Daily Rate Sheet Distribution to all channels.
- Rate Lock Processing: Manage and process rate lock requests, including manual locks, re-locks, and changes.
- Work closely with Secondary Marketing Manager for continual improve in lock desk processes and procedures to provide timely and accurate price advantages
- Market Monitoring: Monitor market movements, develop investor comparisons and update rate lock pipelines accordingly.
- Investor Management: Monitor Investor Changes and Updates
- Compliance: Ensure compliance with investor requirements and maintain the integrity of the Loan Operating System (LOS).
- Pipeline Management: Manage the locked loan pipeline to ensure timely delivery within commitment periods.
- Monitor BE pipeline for expiration and timely purchases
- Loan Sales: Work with Secondary VP and Secondary Marketing Manager to create loan tapes for sale and preparation assistance.
- Collaboration: Work with sales and operations teams to improve efficiencies in the rate lock process.
- Reconciliation: Reconcile investor purchase advices to ensure accuracy of income. Update necessary LOS data elements.
- Monthly analysis of loan sale price execution
- Reporting: Prepare regular reports on secondary market activities and rate lock performance. Continually analysis of report automations and reporting needs.
- Bachelor's degree in Business Administration, Finance, Economics, or related mortgage experience equivalent within pricing execution.
- 2 years of related mortgage experience, preferably in a rate lock or mortgage operations role.
- Strong organizational skills, attention to detail, and proficiency in MS Office and Loan Origination Systems (LOS).
- Required: Previous experience with Microsoft Excel.
- Preferred: Previous experience with Encompass software, Power Bi and MCT.
Equal Opportunity/Affirmative Action Employer Veterans/Disabled.
