- Responsible for locking loans via phone or email lock request and tracking all lock expiration dates for retail, correspondent, wholesale, and delegated channels.
- Verify lock price, investor, and loan-level price adjustment (LLPA) on all lock requests.
- Provide appropriate pricing to loan officers or correspondents based on different scenarios.
- Re-price locked loans based on applicable changes through the loan process.
- Follow up on expiring loan locks and extend or cancel as needed.
- Stay informed of investor requirement changes and ensure adherence to all applicable requirements.
- Confirm data integrity of loans in the Loan Origination System.
- Identify process errors throughout the mortgage process that hinder or prevent the timely delivery and purchase of loans by investors.
- Confirm accuracy of documents required for investor delivery,
including the note,
allonge, and assignment.
- Confirm locks are completed in an accurate and effective manner.
- Stay up to date with all agency and investor guidelines, including Fannie Mae,
Freddie Mac, HUD, Federal Home Loan Bank, and private investors.
- Communicate with Mortgage Loan Originators to determine loan and lock status.
Experience
- Minimum of 3–4 years of experience handling all types of lock requests and related responsibilities.
Must Have Skills
- Confirm accuracy of documents required for investor delivery, including the note,
allonge, and assignment.
- Experience with all types of lock requests and pricing scenarios.