Lead Product Manager, Capital Markets & Pricing

Description

The U.S. mortgage market is worth $13T and sits at the center of the financial system. It supports the middle class and is how many families build wealth. Most other financial products now run through an API, but mortgages are still assembled by hand.

The company built the first vertically integrated mortgage platform, which handles origination through a single API.

Listed companies and the largest originators in the country already build on the platform, and revenue grows every month. Backers include Peter Thiel, Conversion Capital, QED, Citi, Fifth Wall, and the founders of Ramp, Blend, and Mercury.

The team favors people who take initiative, hold clear views, and deliver results without being told what to do. Many have started companies before. People argue directly, move fast, and own outcomes end to end. The work is demanding but worthwhile.

Pricing decides which mortgage deals close. A few basis points can determine whether a borrower gets the loan and whether a customer wins the business. The aim is the best price in the market, using data, models, and constant tracking of market conditions, with the discipline of a top hedge fund.

Because the company is vertically integrated, it can remove much of the manual work and margin loss that traditional lenders accept, and pass those savings on to borrowers.

This Lead Product Manager role owns capital markets and pricing. You will also design products that stand out, which means finding market gaps, creating loan programs for underserved borrowers, and launching them with capital partners.

Responsibilities

• Set the strategy for capital markets and pricing, and align product, engineering, and the capital markets team on where to compete and how to win on price. Help grow the team.
• Own the roadmap for the pricing engine, product eligibility, rate locks, and secondary execution.
• Automate best execution across agency cash and MBS, aggregators, and whole loan buyers to reach the best pricing in the market.
• Build pricing models and strategies in a hedge fund style. Track rate moves, spreads, investor demand, and competitor prices, and turn those signals into better pricing.
• Write and ship code yourself, from pricing models and analysis to changes in the pricing engine.
• Design loan products that competitors cannot easily copy, and work with investors and capital partners to bring them to market.
• Make pricing real-time through the API, so customers receive every price, adjustment, and eligibility decision instantly, each with a clear explanation.
• Reduce cost and leakage across the loan lifecycle, including pull-through, lock extensions, fallout, pricing exceptions, and repurchase risk.
• Support the capital markets team on hedging, pipeline risk, and warehouse capacity, and build tools that help them make faster, better decisions.
• Build integrations with investors and counterparties for commitments, loan delivery, and loan sale.
• Ensure pricing is consistent, auditable, and compliant with fair lending and loan officer compensation rules, with clear governance over exceptions.
• Track how prices compare to the market, along with margin, win rate, and execution performance.
• Work with GTM and Account Management to support deals and help customers succeed.
• Use AI in your daily work.

Requirements

• You hold strong opinions, defend them with reasons, and change your mind when shown you are wrong.
• You set firm priorities. Every basis point has a tradeoff, so you pursue the largest gains first and say no to good ideas that arrive at the wrong time.
• You are comfortable in a heavily regulated market, where pricing must be fair, consistent, and explainable. You work with regulators and treat compliance as non-negotiable.
• You care about customers and their borrowers. Better pricing saves real money for real families, and you do what it takes to make customers succeed.
• You watch how the market moves, follow rates, spreads, and investor behavior, and want to know why things shift so you can price better.
• You default to software over manual work. Manual steps in backend mortgage processes are bugs to you. When a temporary workaround is needed, you flag it, document it, and push for a lasting fix.
• You build real relationships with traders, investors, warehouse lenders, aggregators, and teams across the company, and you get results through them.
• You generate ideas for improving the product and the team, and you act on them.
• You learn mortgage capital markets quickly, well enough to spot problems that veterans have stopped noticing.
• 4+ years in product management, or in a quantitative role such as quant research, trading, or pricing at a hedge fund, bank, or trading firm.
• Very strong quantitative skills. You have built pricing or risk models, worked with real market data, and are fluent in SQL and Python.
• You have owned and scaled pricing, marketplace, payments, or other products where small economic changes have large effects.
• You write code and can commit to a production codebase, working alongside engineers on real-time pricing systems and integrations.
• You have built 0-1 products in a regulated industry.
• You are eager to learn mortgage capital markets from the ground up until you are fluent in pricing, secondary execution, and hedging.
• Nice to have: experience in mortgage capital markets, secondary marketing, pricing engines, or launching loan products.
• You do not need to be a capital markets expert on day 1. The company is betting on fast learners. Over time, you will need to become someone the whole company trusts on pricing and execution.

Conditions

You must live in Palo Alto (CA) or New York City, or be willing to relocate to one of them.