Rate Lock Analyst
Current-Assist with pipeline management of 150-500 active loans by aiding loan officers and brokers with rate locks, monitoring for loan parameter changes that affect pricing and disclosures, working with CFO to determine concession approvals based on available margin, and tracking Mortgage-Backed Security market to determine whether to hedge loans or sell them to investors.-Create and conduct reports using Excel, Power BI, and Encompass in order to audit pipeline and extrapolate current and historical trends in loan parameters, loan pricing, and mortgage market.-Use patterns established by reports to help determine appropriate locking strategies, drive the direction of product development, and identify hidden problems that may arise during loan origination, underwriting, and closing stages.-Communicate with loan officers and brokers to better understand the needs of prospective borrowers in order to develop new products that help drive sales.-Work with investors, Risk Department, and Marketing Department to identify sources of capital, create eligibility requirements and product policy, and develop a roadmap for the release of new products.-Ensure smooth product releases by programming pricing models and eligibility rules into Optimal Blue, testing these models, and coordinating product releases with Training and Marketing departments to ensure ease of use for end users. Communicate with loan officers and brokers following product releases to ensure guidelines are fully understood.-Assist with bulk bids by using Compass Point to send out bid tapes and determine best execution (which investors are pricing best for a given loan). Work with Shipping Department to determine investor delivery restrictions.