Job Summary:
We are looking for a detail-oriented Mortgage Rate Lock Specialist to manage rate lock processes in alignment with loan program guidelines and underwriting approvals. This role is responsible for issuing rate lock confirmations, processing cancellations for withdrawn loans, managing lock extensions with or without associated costs, and updating rate lock terms in response to loan changes. The candidate will also handle investor pricing updates and ensure timely communication of lock confirmations to all involved parties. A strong understanding of the U.S. residential mortgage market—including FHA, VA, conventional, and government loan programs—is essential.
Key Responsibilities:
- Issue rate lock confirmations in accordance with the approved loan program and underwriting decision.
- Cancel the rate locks if the loan is withdrawn by the borrower.
- Manage lock period extensions, including those with and without associated costs, depending on the loan stage.
- Update and revise existing rate lock confirmations when there are changes to loan terms.
- Maintain accurate investor selling prices within the system.
- Print the lock confirmation documents and notify all parties involved in the transaction.
Qualifications and Professional Experience:
- Minimum of a diploma in any business field.
- Knowledge of US Residential Mortgage – Primary and Secondary market. Working knowledge of (FHA, VA, CONVENTIONAL, TRID).
- Minimum of 4 Yrs experience with hands on knowledge & experience of lending regulations & legal guidelines for conventional, conforming, non-conforming, and government loan programs.
- Strong technical skills, experience working with MS-Excel and navigation using workflow applications.
- Exposure to Encompass Loan Origination System is a must.
- Must be able to meet deadlines and turnaround times.
- Customer service orient & strong verbal & written communication skills.
Note that only shortlisted candidates will be contacted.