What are the responsibilities and job description for the Lock Desk Analyst position at Jet HomeLoans, a Dream Finders Homes company?
We are seeking a skilled and experienced Lock Desk Analyst to oversee our mortgage lock desk operations. The Lock Desk Analyst will play a critical role in managing interest rate lock requests, pricing, and pipeline management. This individual will work closely with various teams within the organization to ensure efficient and accurate locking of mortgage rates, while adhering to company policies, investor guidelines, and regulatory requirements. This role is eligible for remote work.
ESSENTIAL DUTIES AND RESPONSIBILITIES:
Rate Lock Management:
- Oversee the daily rate lock activities, including receiving, processing, and confirming rate lock requests from loan officers.
- Analyze market trends, interest rate movements, and investor guidelines to determine optimal pricing strategies for rate lock requests.
- Ensure accurate and timely execution of rate locks while minimizing interest rate risk exposure.
Pipeline Management:
- Monitor locked pipeline to identify potential issues and mitigate risks related to rate lock expirations, loan fallout, and pipeline fallout.
- Collaborate with loan processing and underwriting teams to proactively address pipeline challenges and ensure timely loan closings.
Communication and Collaboration:
- Serve as a central point of contact for internal stakeholders regarding rate lock policies, procedures, and pricing.
- Communicate effectively with loan officers and investors to provide updates on rate lock status, pricing adjustments, and market trends.
- Foster strong relationships with investors, vendors, and various counterparties to optimize execution and refine pricing strategies.
Compliance and Risk Management:
- Ensure compliance with company policies, investor guidelines, and regulatory requirements related to rate lock procedures and disclosures.
- Implement and maintain controls to mitigate operational and financial risks associated with rate lock management.
- Stay abreast of industry developments, regulatory changes, and best practices related to the secondary mortgage market.
EXPERIENCE, SKILLS, KNOWLEDGE
- Bachelor's degree in finance, business administration, or a related field
- Minimum of 2 years of progressive experience in mortgage banking, with a focus on lock desk operations, pricing, or secondary marketing
- Strong understanding of mortgage products, interest rate risk management, and secondary market operations
- Optimal Blue experience required
- Encompass experience required
- Excellent analytical skills with the ability to interpret complex market data and trends
- Exceptional communication and interpersonal skills, with the ability to collaborate effectively across departments and external partners
- Detail-oriented with a focus on accuracy and compliance
- Ability to thrive in a fast-paced, deadline-driven environment while managing multiple priorities
PHYSICAL DEMANDS:
While performing the responsibilities of the job, the employee is required to talk and hear. Vision abilities required by the job are close vision. The employee is often required to sit and use their hands and fingers to handle, feel, and operate office equipment such as a computer, copier, and office supplies.
While performing the responsibilities of the job, the employee is required to talk and hear. Vision abilities required by the job are close vision. The employee is often required to sit and use their hands and fingers to handle, feel, and operate office equipment such as a computer, copier, and office supplies.
In addition, the employee is occasionally required to stand, walk, reach with their arms and hands, and to stoop, kneel or crouch. Reasonable accommodations can be made to enable employees with disabilities to perform the described essential functions of the job.
Note: This document describes the minimum, essential duties, responsibilities, skills, abilities, effort, and working conditions of the position. It in no way implies that these are the only functions to be performed by the incumbent. Workers are required to follow any other job-related instructions and to perform any job-related functions requested by a supervisor or manager. Successful performance requires that the incumbent possess and utilize the abilities and skills described. All functions are subject to reasonable modification to accommodate individuals with disabilities. Some functions may exclude individuals who pose a direct threat or significant risk to the health and safety of themselves or others.
Equal Opportunity Employer
Req Benefits: Our benefits include: Health Insurance - Medical, Dental & Vision; Vacation & Holidays - generous PTO & 8 holidays; 401(k) Savings Plan with company match, Employee Wellness and Employee Assistance Programs, Home Purchase Discount for Associates, Pet Ins
Compensation: 23-27
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