What are the responsibilities and job description for the Lock Desk Analyst position at PONCE BANK?
The Locks Desk Analyst will execute consumer rate locks and act as a liaison to origination, including rate lock policies and procedures. Must have a general understanding of compliance along with comprehension of agency and investor guidelines.
This position is 100% onsite.
Primary responsibilities include, but are not limited to:
- Fulfills incoming rate locks, extension and reprice requests in product pricing and eligibility platform.
- Document and obtain management approval of all exception pricing requests.
- Update buy side and sell side pricing on secondary registration on Encompass.
- Review, verify, and provide price quotes for Agency, Jumbo, Non-QM and Portfolio to sales personnel
- Verify investor and product eligibility prior to confirming rate lock.
- Produce daily salable and portfolio products rate sheet, and distribute it bank-wide
- Validating margins and product offering on the product pricing and eligibility platform.
- Produce daily reports on loans pending sale and mark to market report
- Manage timelines for rate lock expirations and extensions.
- Oversee adherence of secondary and rate lock policies and procedures
- Assist in evaluating Fair Market Value of Interest Rate lock Commitment
- Prepare and provide daily Loans Pending Sale report for management’s review
- Assist in finalizing the profit and loss by the various cost centers and loan officers
- Prepare and maintain the reporting sales commissions and present to management for approval
- Evaluate originator and TPO efficiency. Track pull through profitability tied to secondary ROI
