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Lock Desk Coordinator

Employer
Alerus Financial
Location
Minnetonka, Minnesota
Salary
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Industry
General
Role
Administrative
Job Type
Long-Term
Hours
Full Time

Job Details

Position Summary:

Responsible for oversight of the Alerus mortgage lock desk, including compliance review and audit of every lock request. Liaison between Secondary and Optimal Blue. Monitors daily lock volumes and hedge coverage to ensure companies chosen neutral position is maintained. Responsible for maintaining price engine to ensure complete accuracy in the delivery of pricing to the loan officers. Handles inbound phone calls from sales staff regarding scenarios and lock policy questions. Monitors pre-set exception policy to insure that appropriate management approvals have been documented. Maintain an understanding of State and Federal compliance regulations to insure locks are compliant.



Essential Responsibilities:

Job Function Number 1: Process and manage Alerus mortgage rate locks. 70%
  • Daily execution of the mortgage division centralized lock desk to include initial locks, re-locks, lock extensions and lock change requests.
  • Verify that all loans are locked in a compliant manner to manage risk and conform to fair lending.
  • Monitor the organizations daily lock volume and hedge coverage to ensure the required neutral position is maintained.



Job Function Number 2: Partner with Optimal Blue & Ellie Mae to deliver accurate products and pricing to the Alerus loan officers. 20%.
  • Maintain the organizations production and pricing engine in conjunction with our third party vendor.
  • Deliver accurate and complete rate and rate adjustment data to mortgage sales.
  • Partner with Encompass administrator for required enhancements when needed.
  • Primary contact for loan officers when they have loan or price scenario questions functions.



Job Function Number 3: Enforce the Alerus lock desk policy. 10%
  • Recommendations any adjustments to the lock desk policy to VP Capital Markets.
  • Monitor any exceptions to policy to insure that the proper documentation is included with the file to comply with all state and federal compliance regulations related to pricing.
  • Obtain proper management approval for exceptions when required.



Position Requirements:

Qualifications:
  • Bachelor's Degree in finance or related field or equivalent work experience required.
  • 1 year of mortgage, banking, or related financial services experience preferred.



Personal Characteristics:
  • Strong communication skills.
  • High attention to detail.
  • Proven technical skills.



Physical Demands: (must be met with or without a reasonable accommodation)
  • Extended periods of time sitting at a desk and using office equipment.
  • Ability to operate a personal computer/laptop for approximately 8 hours per day.
  • Extended time is spent reviewing physical and electronic documents.
  • The employee is occasionally required to stand, walk, reach with arms and hands, climb or balance, and to stoop, kneel, crouch or crawl. Vision abilities required by this job include close vision.
  • Will spend most of time in an indoor environment.



Alerus Financial is an Equal Opportunity Employer of women, minorities, protected veterans and individuals with disabilities.

Company

Alerus is a company that will challenge you to be at your best and where your efforts have real, tangible effects. Our culture is one of collaboration, innovation, forward-thinking, and giving back. And, as a growing company with a presence in markets from New Hampshire to Arizona, we offer a broad range of opportunities for you to travel the career path that matches your abilities, interests, and goals.

What is the current company culture like?

While our footprint spans North Dakota, Minnesota, Arizona, New Hampshire, and Michigan, we still operate like a small company. In other words, every single person on our team matters. Our employees create our culture.

What skills, education, and experiences does your ideal candidate(s) have? Each position has their own specific requirements and qualifications. In addition to those, Alerus seeks people who live out our fundamental beliefs every day: do the right thing, cherish people, empower with knowledge, respect everyone, serve with passion, and embrace change.

How would you describe the company leadership/team management? Alerus has a diverse executive and leadership team. Each leader comes with a wealth of experience and knowledge within their field to help their teams succeed. Alerus leaders, including our C*Suite executives, maintain regular communication with employees on company updates and goals.

Where do you see the company/organization in the upcoming years? Alerus has bank and office locations in North Dakota, Minnesota, Michigan, New Hampshire and Arizona. While we continue to serve our clients in these states we also look to grow our national footprint to best serve clients wherever they may live.

What do you feel candidates need to know about the company before applying? Alerus is more than just a bank and offers many products for our clients including personal & business banking, mortgages, wealth management and retirement savings. We continue to grow and expand but still maintain and operate with a small business feel. We would not have continued success without our employees and all the hard work they do to serve our clients with passion.

See the current Alerus job openings below!

Company info
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