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Secondary Lock Desk information

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$12

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How much do secondary lock desk jobs pay per hour?

As of Sep 9, 2026, the average hourly pay for secondary lock desk in the United States is $23.15, according to ZipRecruiter salary data. Most workers in this role earn between $19.23 and $25.96 per hour, depending on experience, location, and employer.

What is a secondary lock desk?

A Secondary Lock Desk is a specialized team or function within a mortgage lending institution responsible for managing and locking in interest rates on mortgage loans after they have been originated but before they are sold on the secondary market. This team ensures that interest rates are secured for borrowers and coordinates the process of delivering these loans to investors. The Secondary Lock Desk plays a crucial role in maximizing profitability and minimizing risk for lenders by monitoring market conditions and making timely decisions on rate locks and loan sales.

What are the key skills and qualifications needed to thrive as a secondary lock desk analyst?

To thrive as a Secondary Lock Desk Analyst, you need strong analytical abilities, attention to detail, and a solid understanding of mortgage products and pricing, typically supported by experience in mortgage banking or finance. Familiarity with loan origination systems (LOS), pricing engines, and industry platforms such as Encompass or Optimal Blue is essential. Excellent communication, time management, and problem-solving skills help you effectively coordinate with loan officers and address pricing or lock issues. These competencies are vital to ensure accurate rate locks, risk mitigation, and timely support for loan production in a fast-moving mortgage environment.

What are some typical challenges faced by professionals in a secondary lock desk role, and how are they addressed?

Professionals in a Secondary Lock Desk role frequently encounter challenges such as managing high volumes of loan lock requests, ensuring compliance with investor guidelines, and adapting to fluctuating market rates. To address these, strong attention to detail, effective time management, and clear communication with loan officers and secondary marketing teams are crucial. Many organizations provide robust training, use specialized software to streamline processes, and encourage collaboration across departments to resolve issues quickly and maintain accuracy.

What is the difference between Secondary Lock Desk vs Loan Processor?

AspectSecondary Lock DeskLoan Processor
Primary ResponsibilitiesManaging and monitoring loan locks, ensuring rate lock agreements are maintained, and coordinating with lenders and borrowersGathering borrower documentation, verifying information, and preparing loan files for underwriting
Required CredentialsKnowledge of mortgage products, lock policies, and industry regulations; often requires mortgage licensingMortgage licensing, familiarity with loan documentation, and underwriting processes
Work EnvironmentOffice-based, fast-paced mortgage or banking environmentOffice-based, mortgage lending or banking setting
Employer & Industry UsageCommon in mortgage banking, lenders, and financial institutionsWidely used in mortgage lending, banks, and credit unions

The main difference is that the Secondary Lock Desk focuses on managing loan rate locks and ensuring lock agreements are maintained, while the Loan Processor handles gathering documentation and preparing loans for approval. Both roles require mortgage industry knowledge and often work closely within the mortgage lending process.

What cities are hiring for Secondary Lock Desk jobs?

Cities with the most Secondary Lock Desk job openings:

What states have the most Secondary Lock Desk jobs?

States with the most job openings for Secondary Lock Desk jobs include:

What are popular job titles related to Secondary Lock Desk jobs?

For Secondary Lock Desk jobs, the most frequently searched job titles are:

Lock Desk Associate

Corona, CA • On-site

Paramount Residential Mortgage Group
Funds, Trusts and Financial Programs • 1 - 5K employees
Learn more about Paramount Residential Mortgage Groupexternal

$28/hr

Full-time

Medical, Dental, Vision, Life, Retirement

Re-posted 18 days ago

Job description

Responsible for lock inquiries, new lock requests, extensions and relocks. Generates daily rate sheet. Determines best execution and commits open pipeline of loans for sale into Secondary Market. Generates and evaluates reports to monitor lock pipeline. Responsible for adherence to all policies and procedures as directed by PRMG’s Investors, Secondary Marketing Manager and/or Senior Management.

PRMG offers a comprehensive benefits package for our full-time employees and their dependents, which includes medical, dental, vision, life insurance, short-term disability, long-term disability, a Health Savings Account (HSA), a Flexible Spending Account (FSA), and various other products, based on benefits eligibility, elections, and employee premiums. Upon hire, you will be eligible to enroll in all our company-sponsored benefit programs (Medical, Dental, Life, and Voluntary) on the first of the following month. After completing 60 days, you will be eligible to enroll in our 401(k) program on the first of the following month. Additionally, eligible employees may apply for job openings through PRMG’s Internal and External Job Portal to request a transfer to a different department or position.


  • Downloads investor rate sheets and updates pricing model on a daily basis to generate daily rate sheets.  Distributes rate sheets both internally and externally to our client base. Updates company website with most recent rate sheet.
  • Processing of all lock related inquiries. Such as, new lock requests, lock extension requests, relock requests, recommitment requests, price quotes, etc…
  • Determines company’s best-execution utilizing a pricing model in doing so, prior to committing loans for sale into secondary market. 
  • Committing loans for sale into secondary market. Ensuring accurate and prompt data entry into investor’s website to produce accurate gain-on-sale figures and secure set profit spreads. Transferring all commitment data into FastTrac360 for proper record keeping.
  • Responsible for identifying investor rate sheet changes and notifying Secondary, Automation, Operational, and Sales Management personnel of upcoming rate sheet changes and/or guideline changes.
  • Responsible for reviewing and ensuring proper loan/lock/sale placement and pricing of loan scenarios. Including, but not limited to Non-PRMG products.
  • Assist clients in review, credit grading, pricing and structuring of loan submissions, ensuring compliance with underwriting standards.
  • Establish and maintain customer service goals and standards with internal staff and external customers, including investor relationships.
  • Follow any other job-related instructions and perform any other job-related duties.

  • One year minimum mortgage and/or secondary marketing experience preferred.
  • Experience working in a fast-paced team environment.

Skills:

  • Strong interpersonal-communication and business-relationship skills.
  • Detail oriented with strong organizational and follow-through skills.
  • Technologically proficient in MS Excel software.                        

 

Education:

  • Bachelor Degree Required

USD $28.00/Hr.
USD $28.00/Hr.

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