Lock Desk/Secondary Specialist

Position: Lock Desk/Secondary Specialist

Reports To: AVP Secondary/Capital Markets Manager

Department/Location: Secondary – Lake Oswego, OR

Status/Schedule: Exempt Full-time, M-F 8:00-5:00

Directors Mortgage, Inc. established in 1998; specializes in mortgages serving Oregon, Washington, Idaho, Arizona, New Mexico, Utah, Colorado and California. Directors Mortgage is a locally owned and operated company, headquartered in Lake Oswego, Oregon. We are a company dedicated to our company values and investing in our community. As one of the top residential mortgage companies, Directors Mortgage is constantly growing and expanding. We are currently looking to fill the role of Lock Desk/Secondary Specialist, to join our fast-paced and expanding team!

Job Purpose:

The Lock Desk/Secondary Specialist will ensure that all profitability expectations established by management are met and fully executed. This team member will proactively identify trends in pricing and profitability and communicate to AVP and VP Capital Markets. This role will also be responsible for monitoring and processing all lock-related requests including all steps from the initial rate lock through selling of the loan file to the secondary market.

Essential Duties and Responsibilities (include but not limited to): 

• Identify and monitor all loans held for sale; provide senior management with detailed reports on an on-going basis. 
• Execute loan commitments in alignment with the established strategies and objectives, optimizing profitability while managing risks associated with the secondary market activities. 
• Assist in the packaging and timely delivery of loans consistent with requirements of investors. (FNMA, FMCC, FHA, and VA). 
• Learn and develop an expertise in all aspects of the product and pricing system (Optimal Blue). Provide back-up support to the AVP of Secondary. 
• Work closely with internal teams such as underwriting, processing and closing to coordinate secondary market transactions and ensure alignment with overall business objectives. 
• Monitor Lock Desk queue for lock requests, lock extensions, re-locks, and re-pricing of loans in Loan Origination System as requested. 
• Work with loan officers and operations team to extend locks as needed. 
• Lock and extend loans on investor websites by required deadlines to prevent loss of margin due to intraday market movements. 
• Manage the locked loan pipeline and provide daily updates to management including lock expirations, and loan status. 
• Provide pricing scenarios to mortgage loan officers and operations team members. 
• Processing and execution of all lock requests, revisions, extensions, and relocks.
• Evaluate and confirm pricing on every lock or lock maintenance request to ensure accuracy.
• Enter loan information required for locking, relocking, modifying, and extending mortgage commitments into LOS. 
• Resolve price discrepancies at the time of lock and loan purchase and reconcile daily locks as needed.
• Assists with and/or delivers operational training to new Loan Officers when applicable.
• Ensures accuracy of Secondary Marketing pipeline reports
• Execute 3^rd party renewals (Investors, Vendors, Broker/Dealers)

Qualifications:

• Two plus years of experience in mortgage Operations, preferably Lock, but not required.
• Bachelor’s degree preferred.
• General knowledge of investor guidelines including Fannie Mae and Freddie Mac.
• Experience working with LOS's and Pricing Engines, preferably Encompass and Optimal Blue.
• Great organizational and time management skills required.
• Excellent verbal and written communication skills required.
• Strong working knowledge of MS Office with an emphasis in Excel required. 

Direct Reports

• No direct reports.

Compensation

• Annual salary to commensurate with experience and qualifications
• Medical, vision, dental and life benefits
• 401(K) with company match
• Paid time off benefits