Lock Desk Specialist

AD Mortgage•Troy, MI

2d•Onsite

About The Position

The Lock Desk Specialist is responsible for managing the daily interest rate lock process for all mortgage loan channels (e.g., Retail, Correspondent, Wholesale). This role ensures the accurate, timely, and compliant locking of interest rates to mitigate risk and maximize profitability for the company, serving as a critical liaison between the Capital Markets team, Sales team, Loan Officers and Operations staff.

Requirements

1-3 years of experience in the mortgage industry, specifically within a Lock Desk, Secondary Marketing, or Capital Markets function is preferred.
Exceptional written and verbal communication skills, including phone calls, with the ability to clearly and concisely explain complex pricing and policy issues.
Strong understanding and appreciation of mathematical concepts.
Excellent attention to detail, strong organizational skills, and the ability to work accurately and efficiently under pressure in a high-volume, deadline-driven environment.

Responsibilities

Process, review and execute rate lock requests, relocks, extensions and modifications accurately and efficiently in the loan origination system
Ensure all rate locks adhere to company policies, investor guidelines and regulatory requirements.
Verify and confirm loan pricing, ensuring accurate loan-level price adjustments and other fees are applied.
Act as the primary point of contact for Loan Officers, Processors and Underwriters for all rate lock and pricing inquiries, providing excellent client service.
Work closely with the rate sheet pricing team to ensure that loans are priced correctly in the loan origination system and physical rate sheets.
Maintain and update lock desk procedures and guidelines. Ensure all activities are in compliance with regulatory requirements and internal risk management policies.
Run quality control of the lock pipeline to ensure no data inconsistencies, potential errors, and if found work, with the appropriate parties to resolve them promptly.
Ensure compliance with all agency and investor guidelines, policies, and procedures related to loan sales and securitization.