Pricing/Lock Desk Manager

Mechanics Bank is currently searching for a Pricing/Lock Desk Manager to join our team. Here at Mechanics Bank, we value connection, partnership, long term relationships and working together in person. This role will be working on-site at our Walnut Creek office.

The Pricing/Lock Desk Manager collaborates closely with the Director of Mortgage and Consumer Lending to ensure competitive and profitable mortgage rates and pricing. Key responsibilities include timely and accurate handling of lock requests, maintaining optimal hedge coverage within established tolerances, and executing deliveries in a timely, profitable, and error-free manner.

With minimal supervision, the Pricing/Lock Desk Manager will complete the daily rate sheet, perform lock desk activities, and execute investor loan deliveries. May review pipeline analytics and recommend hedge positions, under the guidance of the Director of Mortgage and Consumer Lending. Responsible for managing the interest rate lock process for internally originated mortgage loans, assisting with the purchase of pool loans and correspondent loans, and selling and delivering loans to FNMA.

The Pricing/Lock Desk Manager will also be responsible for exploring and supporting the Director of Mortgage and Consumer Lending in the logistics of Pool (from Pool Sellers) and Whole Loan purchases (from EFP partners). With a strong understanding of mortgage products, interest rate markets, and secondary market operations, responsible for carrying out programs or functions within the scope of the department's established goals.

What you will be doing:

• Complete rate quote requests and lock loans, as requested through the Loan Origination System by Sr. Lending Advisors and/or Lending Advisors. Take forward contracts with investors corresponding to locked loans. Ensure pricing and profitability guidelines are met, and all applicable risk adjustors are accounted for.

• Prepare the daily rate sheet for the department according to established pricing and profitability metrics, as determined by department management.

• Ensure all loans are locked in accordance with all applicable regulatory and compliance guidelines, including Fair Lending Regulations.

• Execute delivery of originated loans to investors. Utilize Loan Origination System to transmit loan delivery data to investors to minimize key-stroke error and processing time. In following department procedures, deliver loan data in ULDD compliant format.

• Under moderate supervision, review hedge advisory firm pipeline analytics reporting and hedge recommendations. Based upon effective review of analytics, recommend hedging activities, under the supervision of the Mortgage and Consumer Lending Capital Markets Manager or Director of Mortgage and Consumer Lending.

• When further documentation is required to deliver a loan, work with the manager and the investor to facilitate the delivery of required documents to the investor, with the goal of minimizing repurchase or post-purchase adjustment risk.

• Assist the manager in completing secondary marketing productivity reports, including call reports, pull-through reports and other miscellaneous department reports. Suggest enhancements to continuously improve processes and procedures. Prepare and maintain reports related to rate locks, pool purchases, and FNMA deliveries.

• Assist with the purchase of pool loans and correspondent loans, ensuring compliance with company policies and investor guidelines. Performs all other job duties as assigned by supervisor, according to the needs of the department. Works on projects as needed.

Who you are:

• High School or GED is required.

• 3 years of minimum experience in a mortgage/lending realm.

• Pricing/Lock Desk Manager must register under the S.A.F.E. Act and ensure their registration is kept current while acting as an originator of home secured loan (home equity loans and lines of credit).

• Must adhere to Bank policies and procedures designed to comply with the S.A.F.E. Act regulations.

• Proficient with: MS Word, MS Excel, MS PowerPoint, MS Outlook, Encompass Loan Originating System (LOS), Polly, Power BI.

• Possess excellent human relations, communications and business writing skills.

• Ability to work effectively without direct supervision.

• Possess effective time management and organizational skills.

• Demonstrates teamwork in facilitating workflow.

• High level of cooperation with others and is responsive to the Bank's needs.

• Exemplary motivation, enthusiasm, professionalism and team skills.

• Demonstrates with excellent customer service skills.

• Ability to cope with pressure resulting from meeting required deadlines, reporting requirements and training responsibilities.

• Exhibit high degree of professionalism and confidentiality in handling and having access to sensitive information

• Must be able to travel throughout bank's footprint to perform required duties (less than 20%).

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Salary: $68,640-90,000

Final compensation package will be determined by the work experience, education, and/or skill level of the applicant along with internal equity and alignment with geographic market data.

• Mechanics Bank is an equal opportunity employer and all qualified applicants will receive consideration for employment without regard to race, color, sex, sexual orientation, religion, national origin, age, genetic information, veteran status, or on the basis of disability, gender identity, sexual orientation or other bases prohibited by applicable law.

• Please view Equal Employment Opportunity Posters provided by OFCCPhere.

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