Platform Feature · Lock Desk & Lock Ledger

Every lock, every change, on the record.

After a loan locks, it keeps changing: a new appraisal, a different loan amount, a request for more time, a concession to keep the borrower. PPE1 treats each lock as a commitment with a full history, run by a lock desk with the controls a secondary marketing department needs, and it keeps every version, every request and every point of compensation in the lock's Ledger.

Full lock chronology Change control Extensions & exceptions Four-tier compensation

The loan officer asks. The desk decides.

A locked loan can be explored freely, but only the lock desk can change the commitment.

The front end
Loan officer

On a locked loan, the officer can try a what-if, such as a new loan amount or a new appraised value. The engine prices it as of the lock date and shows exactly what moves. Nothing is saved. If the change is real, the officer sends it to the desk as a request.

→
The back end
Lock desk

The desk works its queue in the Rate Lock Directory. The request carries the proposed loan, the proposed pricing and every moved adjustment, so the desk can approve or reject it without re-running the engine. The decision is written to the lock's Ledger.

Changes sent by your LOS follow the same path. A change that does not affect the locked price is applied at once by the system; one that does waits for the desk, like any other request. How LOS integration works →

The Lock Ledger

The full chronology of one lock, newest first. Transaction 1 is the lock as it was taken, and every row opens to its complete pricing breakdown.

What each row records

Tran# & event
What happened, in order: lock taken, revised, change and extension requests, exceptions, extensions, voids and restorations
Requested by
Who raised or performed it, and when, in the reader's own time zone
Rate & price
The note rate after the transaction, and the price as the loan officer sees it
Expirations
The borrower's expiration, and for the desk, the investor's
Desk figures
The corporate price, profit and rounding retained, for users who hold the administrator pricing role

The events it names

Lock takenCurrent LockLock revised Change requestedExtension requested ExceptionException revisedException voided ExtensionExtension revisedExtension voided Lock voidedLock restored

Built for the way a desk reconciles

  • The Ledger opens in price format, because the desk reconciles against the investor's rate sheet. One toggle switches every row to distance from par.
  • When a loan officer locked on values the LOS has not sent yet, the first row says so and lists each field: what the LOS holds and what the lock was priced on.
  • A voided lock keeps its void row with the actor and reason, followed by its restoration if it comes back. Nothing is deleted.

The desk's controls

Everything a lock needs after it is taken, in one queue.

Confirm
Record that the investor has acknowledged the lock's current terms. The loan officer receives the confirmation by email, and the desk can see every lock whose confirmation is still owed.
Approve or reject changes
Decide what the loan officer or the LOS asked for, from the values in the request. Approval applies the change and the new pricing together, or not at all.
Extend
Three ways: an investor grant, the lock's own unused coverage, or a fee set by the program's extension policy. An extension can be voided to return the lock to its prior terms.
Pricing exceptions
Correct an investor price, give the borrower a courtesy or absorb an adverse event, and book exactly who bears it.
Void & restore
Retire a lock that should never have been taken. A voided lock stays on its own listing and can be restored.
See what needs attention
Status markers on every lock show what is pending, what changed last and what is waiting on the desk, and every column sorts.

Four-tier compensation that reconciles

Company, Region, Branch and User. Every lock carries its split, and every exception says which tier pays.

A courtesy to the borrower

The desk improves the borrower's price. PPE1 records the credit, how much reached the price and which tiers it comes out of, one profit record per tier.

An adverse event

A long turn time or a loan carried at cost. The desk either passes the charge to the borrower or lets the tiers absorb it, and the Ledger shows which.

Totals the screen cannot bend

Per-tier totals are derived from the stored pricing when the exception is written, never taken from what a screen sends, so they always agree with the Ledger.

Who sees what is decided by the server

The desk's figures (corporate price, profit, rounding, the investor's expiration) are shown only to users who hold the administrator pricing role. For anyone else, the server sends the history with those figures already left out, so there is nothing hidden on the page to find. A loan's own users can read its Ledger from the LOS, read-only, and only for loans they are allowed to open.

Repricing after lock is routine, and it is where margin quietly leaks: a concession nobody recorded, a change approved without its price, an extension nobody charged for. The Lock Desk and its Ledger were designed by someone who ran secondary marketing desks for twenty years, to keep each of those on the record.

See a lock's whole life.

We will walk your secondary marketing team through the Directory and the Ledger on the live platform.

Request Private Access

← Back to all products