JOB PURPOSE: To provide accurate and up-to-date rate sheets and to view pricing and the changing market to determine the best place to lock each loan. To make sure that submission packages are in compliance when they are received.
ESSENTIAL DUTIES AND RESPONSIBILITIES:
Distribute rates sheets, compare pricing of various investors and lock new loan rates
Check the locks on files that are clear-to-close
Email notifications to loan officers about locks that are about to expire
Maintain and check the income reports of loans that have funded with investors
Check loans closing to ensure the loan amount and pricing are accurate
Ensure that new submissions are in compliance concerning the early disclosure documents required to be given to customers
For all loans closed in Magnolia Bank’s name, complete early disclosure documents and send to customers within required time frames
Send new submissions to the appropriate loan processor
ADDITIONAL DUTIES AND RESPONSIBILITIES:
Complete weekly and monthly closed loan reports
Complete monthly report on loans sold to investors
Complete a quarterly closed loan report of loans that are still on Magnolia Bank’s books and loans that the Bank has locked
Thorough knowledge of:
Federal regulations concerning secondary market mortgage lending
Secondary market pricing, adjustments and extensions
EPPS Pricing Engine
Work well independently as well as within a team environment
Work well under pressure to consistently meet stated deadlines
Organize activities and handle multiple tasks simultaneously
Quickly adapt to new procedures and processes as loan regulations change
Communicate effectively, both verbally and in writing, with co-workers and individuals that conduct business with the Bank
About Magnolia Bank Inc
Magnolia Bank has remained an independent community bank serving the local area since its founding in 1919. In 2019, we celebrated 100 years of serving our customers and community. As we look to our rich tradition of the past, we also look to the future with great expectations for our community, our customers, and our Bank. Our motto, "We Have A Personal Way", is demonstrated by the actions of our employees everyday.
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