Pylon The Lead Product Manager, Capital Markets & Pricing owns loan pricing, locking, and secondary market execution, aiming for best market pricing using data and models. This role involves strategy, roadmap ownership, and coding pricing models.
Responsibilities
Pricing is where mortgage deals are won or lost. A few basis points can decide whether a borrower gets the loan and whether our customers win the business. Our goal is the best pricing in the market, and we want to approach it with the rigor of a top hedge fund, using data, models, and a constant read on what the market is doing.
We’re hiring a Lead PM to own Capital Markets and Pricing. You’ll own how loans get priced, locked, and sold, from the rate a borrower sees to how the loan is executed in the secondary market. Because Pylon is vertically integrated, we can cut out a lot of the manual work and margin leakage that traditional lenders just accept, and pass those savings on to borrowers.
You’ll also build products that set us apart. That means finding gaps in the market, designing loan programs for borrowers others underserve, and launching them with our capital partners.
Set the strategy for capital markets and pricing, and get product, engineering, and our capital markets team aligned on where we compete and how we win on price. You’ll also help grow the team
Own the roadmap for the pricing engine, product eligibility, rate locks, and secondary execution
Get us to the best pricing in the market by automating best execution across agency cash and MBS, aggregators, and whole loan buyers
Build pricing models and strategies with the rigor of a hedge fund, watching rate moves, spreads, investor appetite, and competitor pricing, and turning what you see into better prices
Write and ship code yourself, from pricing models and analysis to changes in the pricing engine
Design loan products competitors can’t easily copy, and work with investors and capital partners to bring them to market
Make pricing real-time and available through our API, so customers get every price, adjustment, and eligibility decision instantly, with a clear explanation behind each one
Cut cost and leakage across the loan lifecycle, including pull-through, lock extensions, fallout, pricing exceptions, and repurchase risk
Work with our capital markets team on hedging, pipeline risk, and warehouse capacity, and build tools that help them make faster, better calls
Qualification
You’re ruthless about prioritiesYou’re good with peopleYou’re willing to get into the weeds4+ years in product managementVery strong quantitative skillsYou’ve owned and scaled pricing
Required
You’re ruthless about priorities. Every basis point comes with a tradeoff. You go after the biggest gains first, and you’re comfortable saying no to good ideas that come at the wrong time.
You’re comfortable in a heavily regulated market. Pricing has to be fair, consistent, and explainable, and compliance is non-negotiable for us. We work with regulators, we play by the rules, and we play to win.
You care a lot about our customers and their borrowers. Better pricing means real money saved for real families, and we’ll do whatever it takes to make our customers successful.
You’re obsessed with how the market moves. You follow rates, spreads, and investor behavior closely, you always want to know why things moved, and you’re always looking for ways to price better because of it.
You default to software over manual work. One of our guiding principles is that anything in the backend mortgage process done by a human is a bug, and capital markets still runs on a lot of spreadsheets, phone calls, and manual reconciliation. When we need a temporary workaround, you flag it, write it down, and push for the real fix.
You’re good with people. You’ll work with traders, investors, warehouse lenders, aggregators, and teams across Pylon, and you know how to build real relationships and get results through them.
You’re willing to get into the weeds. You can pick up how mortgage capital markets work quickly, well enough to spot problems that veterans have stopped noticing.
4+ years in product management, or in a quantitative role like quant research, trading, or pricing at a hedge fund, bank, or trading firm
Very strong quantitative skills. You’ve built pricing or risk models, worked with real market data, and you’re fluent in SQL and Python
You’ve owned and scaled pricing, marketplace, payments, or other products where small changes in economics have a big impact
You write code and are comfortable committing to a production codebase, working alongside engineers on real-time pricing systems and integrations
You’ve built 0-1 products in a regulated industry
Preferred
We don’t expect you to be a capital markets expert on day 1. We’ll bet on people who are hungry and learn fast. Over time, though, you’ll need to become one of the people the whole company trusts on pricing and execution.
Must live in or be willing to relocate to Palo Alto (CA) or New York City.
