Mortgage Lock Desk Coordinator

Location:Ft. Wayne, IN
Exempt/Non-Exempt:Non-Exempt
Benefits:Full Benefit Package Available
Type:Full Time
Branch/Department:Tower Bank & Trust Corporate Headquarters
Description:The Lock Desk Coordinator is primarily responsible for locking and selling mortgage loans to investors.  This position will also assist the Mortgage Manager in pricing loans and ensuring optimal placement of loans with investors.
Duties: 
  • Accept rate lock requests from Mortgage Loan Originators.
  • Maintain the registration (rate lock) data, including registering ongoing updates within the lock tracking systems in the pricing engine and through the target investor's registration system.
  • Lock all loans that are sold on the secondary market.
  • Confirm pricing on each lock request to ensure accuracy and best placement.
  • Process and record rate lock modifications making certain the pricing is exact and falls within the investors' guideline parameters.
  • Maintain lock/pricing data within the LOS system
  • Understand and relay investor policies to mortgage staff.
  • Thoroughly understand and comprehend the pricing for all mortgage products.
  • Communicate exception requests, pricing and product questions with all involved parties.
  • Produce reports, as directed, regarding loan locks, pricing, and profitability. Accurately complete daily work independently.
  • Assist in lock expiration management (daily emails, reports, etc.).
  • Verify and confirm daily lock-ins from all sources.
  • Process requests for extensions, relocks, program changes, etc.
  • Produce internal rate sheets for portfolio products daily.  Produce price quotes for off-sheet pricing.
  • Provide GFE & TIL system checks to insure early disclosure compliance.
  • Send out GFE & TIL disclosures when needed to insure early disclosure compliance.
  • Monitor correspondent pipeline daily.
  • Assist with providing updates on investors' suspense as necessary.
  • Forward correspondent purchase advice to management for loan funding.
  • Assist with funding loans when necessary.
  • Provide technical support for pricing engine users.
Qualifications:High school diploma or equivalent.  Possess at least 2 years of mortgage experience, preferably with loan pricing/locks.  Processing knowledge is helpful.  Strong computer skills; MS Excel required.


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