Lock & Scenario Analyst

Multiply

3d

About The Position

The Lock & Scenario Analyst is a dual-function role responsible for (1) partnering with loan officers and operations to structure and qualify residential mortgage scenarios and (2) executing daily lock desk functions to optimize pricing, manage rate locks, and protect secondary marketing margins. This role serves as a primary resource for investor guidelines, pricing, and lock questions, ensuring loans are structured, priced, and locked accurately and in line with investor, agency, and company policies.

Requirements

• Minimum 5 years of recent residential mortgage experience in underwriting, secondary marketing, lock desk, scenario desk, or originations, familiar with complex loan structures.
• Deep working knowledge of conventional (Fannie/Freddie), FHA, VA, and USDA guidelines; jumbo and non-QM program experience strongly preferred.
• Strong understanding of mortgage pricing, rate sheets, LLPAs, and factors that impact loan profitability and investor eligibility.
• Knowledge and experience with both wholesale and correspondent lending.
• Proficiency with product/pricing engines (preferably Optimal Blue), multiple investor portals, along with strong Excel and data analysis skills.
• High attention to detail, with the ability to work accurately under time pressure and market volatility.
• Excellent written and verbal communication skills, with a service-oriented approach when working with sales and operations teams.

Responsibilities

• Serve as the central “scenario desk” resource for loan officers, providing guidance on loan structure, program eligibility, and qualification for agency, government, jumbo, and non-QM products.
• Recommend viable loan options and structures that meet both guideline and borrower objectives, based on borrower and collateral qualifying criteria.
• Identify and flag potential guideline issues, documentation gaps, and credit policy exceptions early in the process to reduce rework and underwriting touches.
• Support new product rollouts by learning program nuances and serving as a front-line resource on specialty programs (e.g., DSCR, bank statement, asset depletion, jumbo).
• Assist in creating and maintaining searchable FAQs, job aids, guideline matrices, and scenario desk reference materials for production and operations teams.
• Process rate lock requests, re-locks, changes, and cancellations timely and in accordance with company policy, investor guidelines, and secondary marketing directives.
• Utilize both our LOS and Investor Portals to ensure rate locks are consistent within both systems.
• Verify pricing, loan-level price adjustments (LLPAs), and lock terms for accuracy prior to locking loans. Reach out to the appropriate loan originator for any corrections or clarifications needed prior to lock.
• Monitor loans approaching lock expiration and proactively coordinate with production/ops on extension, re-lock, or cancellation decisions, including loans funded but not yet purchased by an investor.
• Assist with daily rate accuracy, pricing updates, and system maintenance to ensure accurate loan program and investor pricing availability in the LOS/PPE.
• Approve, deny, or escalate price exceptions based on company policies.
• Build and maintain reporting on pipeline lock details to support accurate forecasting, pipeline reviews, and minimize costs associated with inaccurate or expiring locks and pricing policies not followed by loan originators.
• Help reduce pricing and eligibility defects by validating program selection, lock terms, and key data points that impact salability and profitability.
• Collaborate with Product Lead on recommendations for automation of loan scenario guidance and lock management to improve consistency, controls, and efficiencies.
• Ensure all scenarios and lock actions comply with agency, investor, and internal credit policies, as well as applicable regulatory requirements.

Benefits

• Equity
• Comprehensive health, dental, vision, and life insurance for you and your family
• 401k retirement plan
• Flexible PTO policies designed to be utilized fully
• 12 weeks of paid parental leave for new parents

What This Job Offers

• Job Type: Full-time
• Career Level: Mid Level
• Education Level: No Education Listed