Job Summary
The Lock Desk Analyst manages mortgage rate lock requests, pricing, lock changes, extensions, relocks, and cancellations according to company policies, investor guidelines, and market pricing. The role involves coordinating with Loan Officers (LOs), Loan Processors (LPs), Secondary Marketing, underwriting, and investors to ensure accurate pricing, timely lock execution, and compliance with established procedures. The analyst also reviews daily investor rate sheets, maintains pricing accuracy in mortgage systems, investigates and resolves pricing discrepancies, and supports the smooth functioning of the mortgage lock desk.
Key Responsibilities
1. Mortgage Rate Lock Management:
Process rate lock requests from Loan Officers (LOs) and Loan Processors (LPs), verify loan details (amount, program, interest rate, LTV, FICO, occupancy, property type, and lock period), ensure eligibility and compliance with company policies and investor guidelines, and accurately process current locks, changes, extensions, relocks, and cancellations on time. Monitor lock expirations,
communicate confirmations, rejections, and required corrections, and maintain accurate records in the loan origination system.
2. Mortgage Pricing and Rate Sheet Management:
Download and review daily investor rate sheets for dates, pricing adjustments, product availability, and lock periods. Upload and maintain rate sheets and pricing data in the pricing engine. Compare investor pricing with internal systems to identify differences. Review base pricing, loan-level price adjustments (LLPAs), margins, concessions, discount points, and lender credits. Calculate and verify final borrower or broker pricing according to company policies. Provide accurate pricing information to Loan Officers for eligible loan scenarios.
3. Lock Extensions, Relocks, and Pricing Exceptions:
Review and process lock extensions, relocks, and pricing exceptions according to company policies. Calculate extension fees, relock fees, a
📌 Lock Desk Analyst (India)
🏢 QCVI
📍 India