Mortgage Lock Desk Manager

Central Bank•Sioux Falls, SD

22h

About The Position

The Mortgage Lock Desk Manager is responsible for managing the Bank’s lock desk operations and ensuring the accuracy, compliance, and efficiency of secondary market activities. This role oversees daily lock desk functions, validates investor pricing, monitors pipeline accuracy, and coordinates timely loan delivery to investors. In addition, the role leads pipeline management to ensure compliance with regulatory, investor, and internal standards. The Lock Desk Manager works closely with the Mortgage Operations, and Underwriting leadership to optimize profitability and mitigate risk.

Requirements

Bachelor’s degree required or equivalent work experience
Minimum of two (2) years of experience in similar job duties

Responsibilities

Lock Desk & Pricing Management Oversee daily lock desk operations, including rate locks, extensions, re-locks, and modifications in the loan origination system (LOS) and investor systems.
Communicate daily pricing, lock policies, and guideline updates to loan officers and processors.
Approve exceptions and escalated lock desk requests in accordance with Bank policy.
Collaborate with loan officers, processors, closers, and management to ensure smooth loan flow from lock through delivery.
Monitor market conditions and adjust pricing strategies as needed to maintain profitability and market share.
Profitability and Hedging Develop and implement hedging strategies to mitigate interest rate risk and maximize profitability.
Monitor and maintain investor pricing models, ensuring accuracy and alignment with market conditions.
Analyze lock desk performance metrics and provide regular reports on profitability and risk exposure.
Manage the pipeline of locked loans for effective hedging execution.
Investor Relations and Business Development Manage relationships with current mortgage investors, ensuring smooth transaction processes.
Research and identify new investor opportunities, evaluating their guidelines, pricing, and service offerings.
Present findings and recommendations for new investor partnerships to senior management.
Stay current with all Government-Sponsored Enterprise (GSE) guidelines (e.g., Fannie Mae, Freddie Mac) and ensure the company's practices align.
CRM Management Manage and optimize the use of the Surefire CRM system for lender prospecting opportunities with rate notifications and lead generation.
Train staff on CRM best practices and ensure data is entered accurately and consistently.
Utilize CRM data to generate reports and identify areas for process improvement.
Pipeline Management & Investor Delivery Monitor and manage the mortgage pipeline, ensuring accuracy of lock and loan data.
Coordinate with Secondary Market Analysts to prepare and deliver loans to investors.
Reconcile lock discrepancies, investor conditions, and post-delivery issues.
Provide management with regular reports on pipeline activity, delivery performance, and lock trends.
Disclosure Desk Responsibilities Act as the primary point of contact for rate lock agreements, ensuring timely and accurate issuance.
Manage and process all disclosures related to rate locks, including initial disclosures and changes in circumstances.
Communicate effectively with loan officers, processors, and underwriters regarding rate lock status and changes.
Process Improvement & Compliance Review investor bulletins, regulatory updates, and industry trends; update policies and procedures accordingly.
Recommend and implement process improvements to increase accuracy, efficiency, and risk mitigation.
Ensure all lock desk and QC activities comply with federal/state regulations, investor requirements, and Bank policy.
ADDITIONAL RESPONSIBLITIES Serve as subject matter expert on lock desk and secondary market practices.
Prepare and deliver periodic training for mortgage staff on lock desk policies and investor requirements.
Perform other related duties and responsibilities as assigned by management.