Lock Desk Specialist

USA Mortgage•Creve Coeur, MO

10h•$45,000 - $60,000•Remote

About The Position

Deliver accurate, timely pricing to Loan Officers, Processors, Closers, and the Disclosure Desk to support compliance with investor guidelines and customer satisfaction. The primary objectives include delivering accurate, timely loan pricing aligned with investor guidelines and company policy, executing and managing all rate lock activities (locks, changes, extensions, relocks) with precision, maintaining lock pipeline integrity by proactively resolving data issues and discrepancies, ensuring compliance with regulatory requirements and investor eligibility standards, identifying and resolving pricing and lock exceptions to minimize risk and ensure salability, providing responsive guidance and service to Loan Officers and operations partners, and supporting loan structuring and secondary market execution through proper setup and pricing accuracy.

Requirements

Residential mortgage banking industry, familiar with Conventional, FHA, and VA mortgage products.
Clear understanding of CFPB and current RESPA laws and guidelines.
Knowledge of Secondary Best-Efforts and Mandatory Secondary Mortgage practices.
Excellent written and verbal skills.
Basic proficiency in Microsoft Office (Excel, Outlook, Word)
Critical thinking with ability to multi-task, organize & prioritize workflow.
Deep understanding of investor and correspondent pricing and guidelines.
Understands the importance of locks and extensions and loan level pricing changes.
Understands the dynamics and implications of the Capital Markets.
Minimum one-year related experience and/or training.

Nice To Haves

Economics or Business degree is preferred; or equivalent combination of education and experience.
Knowledge of Encompass, Optimal Blue, TPO-Connect and various investor websites is preferred.

Responsibilities

Produce and distribute a high volume of Lock Confirmations to appropriate person(s). Execute new Lock Requests and monitor new lock pipeline for missing data and notify LOs. Execute lock revisions, extensions, locks and re-locks, including, but not limited to loan parameter changes, extensions, relocks and rate renegotiations.
Appropriately cancel locks as directed by the Loan Team. Analyze and resolve operational issues with rate lock mismatches.
Execute Lock Requests and inquiries daily via e-mail and the ticketing system.
Participate in internal report review, provide accurate analysis, helps identify and addresses any pipeline issues.
Work as a team with sales, processing, underwriting, closing, correspondent counterparties and management. Maintain high level of customer service when processing changes submitted by loan officers or operations team members. Notifying loan officers of lock expirations. Answer pricing emails and phone inquiries promptly and professionally. Provides firm guidance relating to lock policy and procedures.
Demonstrate proficiency in DAS-specific procedures. Assist branches with ATR/QM testing and ensure loans pass Mavent testing before disclosures. Accurately code and register loans in Encompass or the designated loan origination system and apply basic guidelines and underwriting criteria when structuring loans.
Perform assigned duties as directed by Lock Desk Lead. Supports and assists with other projects and reporting as necessary.
Process, complete and close all tickets assigned by the team lead in an accurate timely manner.
Have a thorough understanding and ability to complete all tasks assigned by the Team Lead.
Complete all loan commitments and write them back as assigned.
Perform all mandatory and appraisal reviews assigned.
Perform all other duties and tasks assigned.