Position Description: Summary:
A Lock Desk Analyst is responsible for managing mortgage rate lock requests, ensuring accurate and timely processing of loan pricing, and mitigating financial risks for lenders. They review loan applications, confirm pricing guidelines, and communicate with loan officers and secondary market teams.
Essential Functions & Responsibilities:
Rate Lock & Pricing Management
Lock, relock, extend, and modify interest rates in accordance with company policy.
Ensure pricing accuracy based on daily rate sheets and margin targets.
Monitor lock desk inbox and respond to originator requests in a timely manner.
Escalate margin or compliance concerns as needed.
Pipeline Monitoring & Risk Support
Identify and report unusual lock activity or pricing anomalies.
Track and manage lock expirations and extension requests.
Rate Sheet Distribution
Maintain Rate Sheet Distribution Lists
Update Rate Sheets as needed
Create Individual Correspondent Rate Sheets from Model
Distribute Rate Sheets Daily
Communication & Service
Provide guidance to Correspondents on pricing questions
Deliver strong customer service to internal sales and operations teams.
Communicate rate sheet updates and lock cut-off times.
Required Skills and Qualifications:
Education: A bachelor's degree in finance, Economics, Business, or a related field preferred.
Experience: 13 years of experience in mortgage banking, secondary marketing, or lock desk operations required.
Knowledge of mortgage lending practices.
Ability to analyze market trends to assist in securing the best loan terms for borrowers while protecting the company's financial interests.
Interpersonal Skills
Strong problem-solving ability
Organized and methodical approach
Clear written communication
Collaborative mindset
Commitment to quality and continuous improvement