What are the responsibilities and job description for the Mortgage Loan Pricing Analyst position at Magnolia Bank?
Mortgage Loan Pricing Analyst
Magnolia Bank is a community bank that has served the surrounding area for over 100 years. Our footprint includes banking centers located in Central Kentucky, mortgage offices throughout the U.S. and over 300 employees. We hold ourselves to the highest standard when it comes to providing an excellent customer experience through our personal way and the nurturing of our employees’ personal and professional growth. We keep a fun, friendly and engaging atmosphere all while living the Magnolia Values of Honesty, Integrity, Confidentiality, Excellence and Professionalism every day. Magnolia Bank is a customer focused bank that empowers, encourages, and engages our employees. Being Adaptive and Innovative is one of the main reasons Magnolia Bank continues to prosper.
We are currently seeking applicants for a Mortgage Loan Pricing Analyst.
Qualified Candidates will be responsible for:
- Update daily mortgage pricing and ensure accurate rate data within the Loan Origination System.
- Generate and distribute rate sheets, compare pricing of various investors, and lock new loan rates
- Answer product eligibility, pricing, and lock policy questions from mortgage sales staff.
- Process rate lock requests, which include lock extensions, relocks, cancellations, and updating locks.
- Review and resolve pricing discrepancies, lock issues, and communicate issues to management.
- Review and validate rate locks on files that are clear-to-close to ensure the loan amount and pricing are accurate.
- Track and communicate with all levels of mortgage sales about rate lock expirations and pipeline activity.
- Analyze and validate income reports of loans that investors have funded
- Assist with financial and operational reporting related to pricing, pipeline activity, and profitability analysis.
- Review pricing exception requests and apply approvals in accordance with company policy.
- Review and data entry of purchase advice and settlements with investors.
Candidates must also have knowledge in:
- At least one year of hands-on experience with the Optimal Blue product, pricing, and eligibility platform.
- At least three years of detailed knowledge and hands-on experience in all aspects of a secondary marketing lock desk, to include:
- Experience with all types of agency-eligible mortgage products, including Jumbo and Non-QM products.
- Experience with loan aggregators and alternative investors.
- Understanding of margin management.
- Strong computer skills and software proficiency, including Microsoft Office, with an emphasis on financial analysis and reporting in Excel.
- Excellent interpersonal skills with an upbeat, friendly personality with excellent client-facing skills.
- Strong ability to prioritize and manage multiple responsibilities in a deadline-driven atmosphere.
- Strong written and verbal communication skills with a dedication to delivering excellent customer experiences.
- Accuracy, attention to detail, and organizational skills; time management skills
Enter Qualifications:
- High School Diploma or equivalent.
- Knowledge of Optimal Blue & Encompass.
- Must be proficient in Excel.
Hours:
- Primarily 40 hours per week. Must be available to work Monday-Friday, 8 am - 7 pm ET.
- Possible overtime, weekends, or varying work hours to support teams in other time zones.
- Eligible for remote work
This position reports to the Director of Capital Markets.
If you want a place to work with opportunities to grow and a place that feels like home-come join us!
