Job Information
GESA CREDIT UNION Secondary Market/Lock Desk Specialist in RICHLAND, Washington
Take a leap and join our team!
At Gesa, we believe in the power of our people. Coming from all walks of life, our team members' individual stories and unique experiences are our most valuable asset. But it is how we come together, igniting our collective compassion and commitment to empowering our communities, that makes us succeed. Because we know we go further when we go together.
Here you can join a team who is passionate about serving others, has a desire to do good, and shares a deep love of people. You can engage in meaningful work that impacts your community. You can challenge yourself and grow in your career. And you can rest assured that your wellbeing and prosperity are our priority.
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Role Summary:
Under the direction of the AVP of Home Loan Operations, the Secondary Market/Lock Desk Specialist will ensure that all profitability expectations established by Finance are met and fully executed. This team member will proactively identify trends in pricing and profitability and communicate to appropriate business partner to address and resolve. 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.
*Currently the Secondary Market/Lock Desk Specialist position is available in the following locations: Tri-Cities, Yakima, Lynnwood, Vancouver, Spokane, Seattle and Coeur d'Alene.
What You Will Be Doing:
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. Provide back-up support to the VP of Home Loans as needed.
Work closely with internal teams such as underwriting, processing and closing to coordinate secondary market transactions and ensure alignment with overall business objectives.
Stay informed about industry trends, new mortgage products, and emerging technologies to adapt and improve secondary market strategies.
Produce/maintain daily rate sheets accurately meeting management expectations. Upload rates to Loan Origination System and long-term storage by 9:00 am daily. Work with third party vendor when issues arise with rate sheet through to solution.
Monitor Lock Desk queue for lock requests, lock extensions, re-locks, and re-pricing of loans in Loan Origination System as requested. Work with appropriate team member to ensure pricing calculations are accurate.
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.
Stay abreast of regulatory changes ensuring compliance with regulatory requirements and internal policies