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Mortgage Rate Lock Desk Pricing Analyst

  • Job
    Full-time
    Mid Level
  • Customer Relations
    Banking & Finance
  • Plano

AI generated summary

  • You must have 3+ years of mortgage lock desk experience, strong communication skills, High School Diploma/GED, Encompass and Optimal Blue experience, and expert knowledge in mortgage loans and pricing.
  • You will process rate lock requests, manage pricing, conduct ATR/QM analysis, update investor information, assist loan officers, and ensure compliance with regulations and internal policies.

Requirements

  • MUST HAVE: 3+ years of experience with mortgage lock desk experience
  • Ability to research and resolve issues independently.
  • Excellent verbal and written communication skills interact with Mortgage Loan Officers.
  • At least a High School Diploma or a GED for an accredited institution
  • Prior experience in a lock desk pricing capacity
  • Encompass software experience
  • Expert knowledge in mortgage loans, programs, and pricing processes and procedures
  • Exceptional customer service and communication skills
  • Prior Experience with Encompass is preferred
  • Prior experience with Optimal Blue is preferred

Responsibilities

  • Primary Responsibilities
  • Processes new rate lock requests as submitted by loan officers through Encompass (pricing engine is Optimal Blue)
  • Processes rate lock extensions and other changes to loan characteristics and ensures any pricing considerations are addressed
  • Ensures pricing for all locks is correctly recorded in system
  • Processes requests for both hedged (mandatory/AOT) and best efforts locks
  • Conducts preliminary ATR/QM analysis to ensure all loans do not exceed the Points and Fees test for Qualified Mortgages
  • Performs data entry for all mandatory loan sales and updates investor information (commitment number, investor loan number, delivery date, pricing, etc.)
  • Utilizes information in Encompass to assist loan officers in selecting appropriate product and pricing
  • Communicates rate lock expiration reports to Branch Managers to ensure all active mandatory locks remain in the hedge (or best efforts locks are extended) or any inactive locks are canceled
  • Assists post-closing department with any revisions to locks necessary to facilitate getting loans purchased
  • Perform the job in accordance with applicable industry laws and regulations as well as the policies and procedures established by the company
  • Responsible for upholding Fair and Responsible Banking practices and Code of Ethics and Conduct guidelines
  • Understand and participate in the Bank’s Community Reinvestment Act program
  • Perform other duties as assigned

FAQs

What is the minimum experience required for the Mortgage Rate Lock Desk Pricing Analyst position?

A minimum of 3 years of experience with mortgage lock desk experience is required for the position.

What software experience is preferred for applicants?

Prior experience with Encompass and Optimal Blue software is preferred for this role.

What are the primary responsibilities of the Mortgage Rate Lock Desk Pricing Analyst?

The primary responsibilities include processing loan lock requests, handling rate lock extensions, conducting ATR/QM analysis, and ensuring accurate data entry for mandatory loan sales, among others.

What is the education requirement for this position?

Candidates are required to have at least a High School Diploma or a GED from an accredited institution.

Is customer service experience important for this role?

Yes, exceptional customer service and communication skills are crucial for interacting with Mortgage Loan Officers and other team members.

What benefits does Sunflower Bank offer to its employees?

Benefits include a 401(k) plan with a 6% match, health/dental/vision insurance, company-paid life insurance, tuition reimbursement, fitness reimbursement, paid time off, and volunteer leave, among others.

Where can I apply for this position?

You can apply online at www.sunflowerbank.com/careers.

Is there an application deadline for this position?

No, there is no fixed deadline to apply; applications are accepted on an ongoing basis until the role is filled.

What type of work environment does Sunflower Bank promote?

Sunflower Bank promotes an inclusive and supportive work environment, striving to be the financial backbone of their clients' lives and valuing teamwork within their organization.

Are there any specific ethical practices that employees are expected to uphold?

Yes, employees are responsible for upholding Fair and Responsible Banking practices and adhering to the Bank’s Code of Ethics and Conduct guidelines.

Finance
Industry
1001-5000
Employees
1892
Founded Year

Mission & Purpose

Operating as Sunflower Bank, First National 1870 and Guardian Mortgage, Sunflower Bank, N.A. provides financial solutions to the individual communities we serve through a full range of relationship-focused services to meet personal, business and wealth management financial objectives. Whether you know us as Sunflower Bank, First National 1870 or Guardian Mortgage, our philosophy is simple: we offer a full range of financial products that create possibility in the lives we touch and the communities we serve. We value the needs of each customer and partner with them to help achieve their goals with innovative solutions delivered through a regional structure that provides local expertise. We are proud of our longevity and the long-term relationships it represents. Sunflower Bank was founded in 1892. We operate as First National 1870 in Albuquerque, Los Alamos and Santa Fe, New Mexico with roots dating back to 1870. Additionally, Guardian Mortgage, our residential mortgage division, has helped generations of valued customers across our footprint and beyond realize their dreams of homeownership.