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Secondary Lock Desk Jobs (NOW HIRING)

CapCenter

Capital Markets Director

Glen Allen, VA · On-site

$150K - $225K/yr

Lock Desk and Pipeline Hedging Run the lock desk and manage the interest-rate risk in the pipeline ... Qualifications: * 10+ years of capital markets or secondary marketing experience in mortgage ...

Crosscountrymortgage

NQE Pricing Specialist

Report as a member of Non-QM rate lock desk, including issuing lock confirmations, tracking lock ... Collaborate with the Secondary Marketing and Capital Markets teams to ensure that offered pricing ...

CrossCountry Mortgage

NQE Pricing Specialist

Report as a member of Non-QM rate lock desk, including issuing lock confirmations, tracking lock ... Collaborate with the Secondary Marketing and Capital Markets teams to ensure that offered pricing ...

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Secondary Lock Desk information

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$23

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How much do secondary lock desk jobs pay per hour?

As of Sep 10, 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:

Hedging & Trading Specialist - Hybrid

Plano, TX • On-site

Benchmark Mortgage
See more jobs at Benchmark Mortgageexternal

Full-time

Medical, Dental, Vision, Life, Retirement

Posted 13 days ago

Job description

Description
Hedging & Trading Specialist
Position Overview:
The Hedging & Trading Specialist is a hands-on seat on the capital markets desk with a primary focus on Non-QM loan committing and hedging support. The role prices and commits Non-QM production to investors and aggregators, tracks those commitments through delivery, and maintains the daily data and reporting that support the Company's interest rate hedge.
Ideal candidates for this position will have (1) 2-3 years of mortgage banking or financial services experience; (2) strong Excel skills; and (3) demonstrated accuracy and attention to detail working to a market-driven schedule.
Essential Functions of the Role:
  • Price and commit Non-QM loans to investors and aggregators, entering commitments accurately and confirming terms.
  • Prepare the daily hedge package for the Senior Trader, summarizing exposure by coupon and product, current position, and pipeline changes.
  • Pull and reconcile the daily loan-level pipeline across the loan origination system, pricing engine, and hedge analytics platform.
  • Build and submit bid tapes, and track bid results, fill rates, and pricing by counterparty.
  • Maintain the commitment calendar, including delivery windows, expiration/extension deadlines, and roll or pair-off exposure.
  • Track committed loans through funding, including purchase advice reconciliation and resolution of price variance, delivery, and suspense issues.
  • Enter trades as directed and reconcile dealer confirms, settlements, and pair-offs.
  • Track daily lock volume, extensions, fallout, and pull-through, and maintain the underlying assumption history.
  • Support daily rate sheet production, validating investor price changes, margin updates, and product changes.
  • Run competitor pricing comparisons, flag anomalies, and support sales and the lock desk on pricing and lock-policy questions.
  • Produce recurring daily, weekly, and month-end secondary marketing, hedge reconciliation, and P&L reports.
  • Other duties as assigned.

Classification: Full Time, Non-Exempt
Hedging & Trading Specialist
Essential Knowledge/Skills/Abilities:
  • Advanced Excel skills, including pivot tables, XLOOKUP/INDEX-MATCH, and SUMIFS, with comfort working in large data sets.
  • Demonstrated accuracy and attention to detail, particularly working to a market-driven schedule.
  • Clear, direct written and verbal communication with internal teams and external counterparties.
  • Ability to work independently and proactively surface questions rather than guess.
  • Working knowledge of fixed income, derivatives, or financial market concepts.
  • Familiarity with mortgage-backed securities, TBA mechanics, and basic hedging concepts.
  • Strong analytical and problem-solving ability.
  • Technical proficiency in SQL, Power Query, VBA, or Python.

Experience Requirements:
  • Minimum of two (2) years of professional experience in mortgage banking or financial services (lock desk, secondary marketing, post-closing, loan delivery, capital markets operations, or a comparable analytical role) required.
  • Exposure to Non-QM products (Bank Statement, DSCR, 1099, non-agency Full Doc) preferred.
  • Exposure to a loan origination system, pricing engine, or hedge analytics platform preferred.

Education / Licensing Requirements:
  • Bachelor's degree in Finance, Economics, Mathematics, Accounting, Business, or a related field, or equivalent mortgage industry experience in lieu of a degree, required.
  • Coursework or self-study in fixed income, derivatives, or financial markets preferred.

Working Conditions:
  • Fast-paced, market-driven environment.
  • Requires normal vision (corrected) both close and distant.
  • Requires normal hearing levels (corrected).
  • Requires working at a desk to use a phone and computer for extended periods of time.
  • Requires sitting, bending.
  • Works effectively with frequent interruptions.
  • Lifting requirements of 10 lbs. occasionally.
  • Minimal travel <5%.
  • Along with a great culture and competitive pay, full-time employees are eligible to receive additional benefits:
    • Medical, dental, and vision insurance
    • Short-term and long-term disability
    • 401(k) and Roth 401(k) plans and Company match
    • Company-provided life insurance
    • 8 paid holidays
    • AND MORE!

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