Lock & Scenario Analyst

This is a fully remote position, open to applicants in United States.

📋 Description

• Act as the primary “scenario desk” resource for loan officers, offering expertise on loan structuring, program eligibility, and qualifications for agency, government, jumbo, and non-QM products.

• Suggest viable loan options and structures that align with both guidelines and borrower goals, based on qualifying criteria for both borrower and collateral.

• Proactively identify and highlight potential guideline concerns, documentation deficiencies, and credit policy exceptions early in the process to minimize rework and underwriting involvement.

• Support the introduction of new products by understanding program intricacies and serving as a first-point resource for specialty programs (e.g., DSCR, bank statement, asset depletion, jumbo).

• Aid in the development and upkeep of searchable FAQs, job aids, guideline matrices, and reference materials for production and operations teams.

• Timely process rate lock requests, re-locks, modifications, and cancellations in accordance with company policy, investor guidelines, and secondary marketing directives.

• Utilize both our Loan Origination System (LOS) and Investor Portals to ensure consistency in rate locks across both platforms.

• Verify pricing, loan-level price adjustments (LLPAs), and lock terms for accuracy before locking loans, reaching out to the appropriate loan originator for any necessary corrections or clarifications.

• Monitor loans nearing lock expiration and proactively collaborate with production and operations on decisions regarding extensions, re-locks, or cancellations, including loans that have been funded but not yet purchased by an investor.

• Assist with daily rate accuracy, pricing updates, and system maintenance to ensure accurate availability of loan programs and investor pricing in the LOS/PPE.

• Approve, deny, or escalate pricing exceptions in line with company policies.

• Construct and maintain reports on pipeline lock details to facilitate accurate forecasting, pipeline assessments, and to reduce costs linked to inaccurate or expiring locks and pricing policies not adhered to by loan originators.

• Help mitigate pricing and eligibility errors by validating program selection, lock terms, and crucial data points that influence salability and profitability.

• Collaborate with the Product Lead on suggestions for automating loan scenario guidance and lock management to enhance consistency, control, and efficiency.

• Ensure all scenarios and lock actions adhere to agency, investor, and internal credit policies, in addition to relevant regulatory requirements.

⛳️ Requirements

• A minimum of 5 years of recent experience in residential mortgage within underwriting, secondary marketing, lock desk, scenario desk, or originations, with familiarity in complex loan structures.

• Extensive working knowledge of conventional (Fannie/Freddie), FHA, VA, and USDA guidelines; experience with jumbo and non-QM programs is highly preferred.

• Strong comprehension of mortgage pricing, rate sheets, LLPAs, and factors influencing loan profitability and investor eligibility.

🏝️ Benefits

• Equity.

• Comprehensive health, dental, vision, and life insurance for you and your family.

• 401k retirement plan.

• Flexible PTO policies designed for full utilization.

• 12 weeks of paid parental leave for new parents.