Job Description
Job Description:
Compliance
Review loan applications to ensure they comply with all applicable federal, state, and local regulations, as well as internal policies and guidelines.
Conduct thorough audits of loan files to verify accuracy and completeness, including credit, income, and asset documentation.
Collaborate with loan officers, underwriters, and processors to resolve any discrepancies or missing information in loan files.
Keep abreast of regulatory changes and industry best practices, and update compliance procedures accordingly.
Prepare reports and documentation for regulatory audits and internal compliance reviews.
Assist in the development and implementation of compliance training programs for staff members.
Lock Desk
Manage the lock desk to ensure timely and accurate pricing and locking of interest rates for mortgage loans.
Monitor market conditions and interest rate trends to provide recommendations for rate lock decisions.
Work closely with loan officers, underwriters, and secondary market investors to execute rate lock agreements.
Maintain a comprehensive record of all rate lock transactions and ensure data accuracy.
Collaborate with internal teams to optimize pricing strategies and execution processes.
Generate and distribute daily, weekly, and monthly rate lock reports to relevant stakeholders.
Familiar with secondary market operations and processes.
Experience with Optimum Blue pricing engine.
Knowledge of how to register loans with investors and lock loans with investors.
Proficient in using LendingPad or similar systems to input and manage loan data.
Coordinate and manage loan portfolios for investors.
Implement immediate notifications and actions upon loan locking.
Ability to understand and analyze numerical data effectively.
Open to training and development provided by Optimum Blue or similar platforms.
Qualifications:
Bachelor's degree in Finance, Business, or a related field preferred.
Proven experience in compliance analysis and knowledge of mortgage industry regulations.
Strong attention to detail and analytical skills to review loan files and monitor interest rates.
Excellent communication skills to effectively collaborate with various teams and stakeholders.
Ability to work under pressure and meet deadlines in a fast-paced environment.
Proficiency in mortgage loan origination software and Microsoft Office Suite.
Relevant industry certifications (e.g., CRCM, CAMS) a plus.
