The Lock Desk Specialist position is responsible for all activities regarding the operation of lock desk including, but not limited to, locking of loans, extending or re-locking loans as requested, pricing scenarios, and various other projects. Responsibilities include, but are not limited to:
- Ensure all rate locks, extensions, excursions, exceptions and loan changes are executed accurately and in a timely manner with investors and on Valley's LOS.
- Work with Home Loan Consultants (HLC) to properly structure loans and answer questions accordingly.
- Grant or deny pricing rate/fee exception requests.
- Responsible for managing all locks with investors and coordinating with Loan Delivery that shipping timeframes are met.
- Ensure profit margins are being maintained for all locked loans.
- Investigate individual loan files and determine the source of the delay on lock extensions.
- Monitors expiring locks with investors, researches internally to determine length of extension necessary while seeking to maximize profit.
- Manage all investor's pricing and lock guidelines and requirements.
- Oversees reports to management regarding excursions/exceptions tracking.
- Troubleshoots various pricing related challenges as they arise.
- Oversees workflow of Secondary Marketing Specialists in their responsibilities related to the Lock Desk.
- Makes recommendations for innovation and process improvements.
- Assist with special projects and other duties as needed per management.
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