Valley National Bank Job - 39549934 | CareerArc
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Company: Valley National Bank
Location: Wayne, NJ
Career Level: Associate
Industries: Banking, Insurance, Financial Services


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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