Rate Lock Desk Specialist

Job Description

Job Description

About MCU

At Municipal Credit Union, we believe that an incredible culture helps create a happy and motivated team that works hard to achieve the best results for themselves and their members. For more than 100 years, MCU has provided affordable financial products and convenient services to a membership base that is now comprised of over 600,000 individuals. With each new generation we have the pleasure of interacting with, we maintain the credit union promise of people helping people.

Our Mission :

To help hard-working New Yorkers build better tomorrows

Our Vision :

Be New York's most loved financial institution by helping our members build their best financial futures

Overview : The Rate Lock Specialist is responsible for all pricing and rate lock functions. They will be reviewing the file for completeness before locking in any loan in the pipeline. The process includes verifying the accuracy of loan related terms, including but not limited to, reviewing pricing, locking loans and maintaining reports to monitor all rate lock dates and the expiration dates of all locked loans. Also verifying that the lock requested by the sales team match the product and program that the Member applied for. And if the workload permits then they will assist where needed in the lending department.

Responsibilities :

Specific duties include, but are not limited to, the following :

• Communicates with loan officers and internal members regarding structure and pricing of the loan.
• Reviews mortgage loan application, to verify completeness and meets established standards, including but not limited to type and amount of mortgage, borrower assets, liabilities and length of employment.
• Receives rate lock request from the sales team to lock in the loan with Optima Blue and LOS.
• Reviews DU verification messages / approvals, to ensure that the loan meets eligibility and underwriting guidelines.
• Ensure accuracy and completeness of rate lock request and verify that the products and loan programs match the underwriting decision and member requests.
• Keep loan processing and underwriting abreast of any lock in requests from the mortgage sales team so the loan can be re-disclosed, and a COC generated by the processor and sent out to the member for signature.
• Monitor the Markets for any activity pertinent for a rate change
• Update the department when MCU changes rates
• Perform other related duties as requested and special projects as assigned.

Requirements :

Why you'll be a good fit :

Our Core Values are an integral part of who we are and who we hire. By living our Core Values, every day, we continue to attract the best and brightest talent, achieve unsurpassed results and continuously challenge ourselves to be better than yesterday. These values are at the heart of our organization and within every teammate. To be a great fit, you’ll bring the following

Results - We are passionate about winning.

Agility - We proactively anticipate, respond and pivot to ensure MCU wins.

Integrity - We operate with the highest ethical standards and highest degree of honesty.

Belonging - We cultivate a culture of inclusion and teamwork.

Ownership - We take personal responsibility and hold ourselves accountable for the results.

What we can offer you :

Competitive compensation, medical and dental benefits.

401K with employer match

Flexible paid time off

Please note that the pay range provided is a good faith estimate for the position at the time of posting. Final compensation may vary based on factors including, but not limited to knowledge, skills and abilities, as well as geographic location. Incentives and / or benefits packages may vary depending on the position.

Municipal Credit Union (MCU) is an Equal Opportunity Employer. Municipal Credit Union provides equal employment opportunities to all employees and applicants for employment and prohibits discrimination and harassment of any type without regard to race, color, religion, age, sex, national origin, disability status, genetics, protected veteran status, sexual orientation, gender identity or expression, or any other characteristic protected by applicable federal, state or local laws.

We are committed to hiring, training, cultivating, promoting, and celebrating an environment where we have a welcoming and fulfilling place for all people to call home. Diversity of race, thought, sexual orientation, age, veteran status, religion, and disability will empower us to thrive as individuals, as teams, and as an organization.