Job Description
The Lock Desk Coordinator is responsible for managing mortgage rate lock requests, ensuring accurate pricing, and maintaining compliance with investor guidelines. This role supports retail, correspondent, wholesale, and delegated channels.
Key Responsibilities:
- Rate Lock Management:
- Lock loans via phone or email requests.
- Track lock expiration dates and manage extensions or cancellations.
- Re-price locked loans based on changes during the loan process.
- Confirm lock price, investor, and loan-level price adjustments (LLPA).
- Pricing Support:
- Provide accurate pricing scenarios to loan officers and correspondents.
- Issue daily rate sheets and monitor market fluctuations.
- Data Integrity & Compliance:
- Ensure data accuracy in the Loan Origination System.
- Confirm accuracy of documents required for investor delivery (e.g., note, allonge, assignment).
- Identify and correct process errors that may delay loan delivery or purchase.
- Communication & Coordination:
- Collaborate with loan officers, underwriters, and investors.
- Follow up on expiring locks and communicate changes effectively.
Qualifications:
- Education:
- Bachelor's degree in Business Administration, Economics, Finance, or Accounting preferred.
- Experience:
- Minimum 3 years of mortgage industry experience.
- Skills:
- Hands on Encompass application.
- Strong organizational and prioritization abilities.
- Excellent written and verbal communication.
- Intermediate proficiency in MS Office.
- Ability to work in a fast-paced, detail-oriented environment.
The Lock Desk Coordinator is responsible for managing mortgage rate lock requests, ensuring accurate pricing, and maintaining compliance with investor guidelines. This role supports retail, correspondent, wholesale, and delegated channels.
Key Responsibilities:
- Rate Lock Management:
- Lock loans via phone or email requests.
- Track lock expiration dates and manage extensions or cancellations.
- Re-price locked loans based on changes during the loan process.
- Confirm lock price, investor, and loan-level price adjustments (LLPA).
- Pricing Support:
- Provide accurate pricing scenarios to loan officers and correspondents.
- Issue daily rate sheets and monitor market fluctuations.
- Data Integrity & Compliance:
- Ensure data accuracy in the Loan Origination System.
- Confirm accuracy of documents required for investor delivery (e.g., note, allonge, assignment).
- Identify and correct process errors that may delay loan delivery or purchase.
- Communication & Coordination:
- Collaborate with loan officers, underwriters, and investors.
- Follow up on expiring locks and communicate changes effectively.
Qualifications
- Education:
- Bachelor's degree in Business Administration, Economics, Finance, or Accounting preferred.
- Experience:
- Minimum 3 years of mortgage industry experience.
- Skills:
- Hands on Encompass application.
- Strong organizational and prioritization abilities.
- Excellent written and verbal communication.
- Intermediate proficiency in MS Office.
- Ability to work in a fast-paced, detail-oriented environment.
