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Salary and Benefits

Consumer Loan Processor
$35K-$43K / yr. (est.)
$35K
$39,282 / year
$43K
Average base salary
The salary information provided is based on data collected from various reliable sources and may vary depending on individual qualifications and other factors.

About Consumer Loan Processor

What does a Consumer Loan Processor do?

As consumer loan processors, we need to ensure all the information provided complies with the loan’s existing legal bindings. Being consumer loan processors, we have exceptional communication skills since we act as a natural bridge between interested parties and financing companies. We also have to be extremely detail-oriented and organized to carry out our jobs in the best way possible. Along with all these roles, we also keep track of how people use their loans.

Core tasks:

  • obtaining and completing all the necessary information required for loan processing
  • examining and compiling all the documents needed for closing loan agreements
  • conducting background researches on applicants and confirming their credibility
  • preparing loan repayment strategies

Insights

How Many Years of Experience Do Professionals Need Before Becoming Consumer Loan Processor?
On average, people work 5-7 years in other positions prior to becoming a Consumer Loan Processor.
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Consumer Loan ProcessorPhiladelphia, PA - A year ago
🤬 what a load of garbage! I worked my way up from a Junior Loan Processor to become a Consumer Loan Processor. These stats couldn't be more wrong!
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Consumer Loan ProcessorSan Francisco, CA - A year ago
seriously? 5-7 years in other positions? I became a Consumer Loan Processor right after graduating from college, with no prior experience. This infographic is misleading!
How Long Do Consumer Loan Processor Employees Typically Stay in Their Roles?
On average, Consumer Loan Processors works in this position for 3-5 years across multiple employers.
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Financial AnalystHouston, TX - A year ago
I find it quite interesting that loan processors hop around different employers after just a few years. Shows a lack of commitment and stability.
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Mortgage UnderwriterSeattle, WA - A year ago
LOL, 3-5 years across multiple employers for loan processors? No wonder they make mistakes in their paperwork! It's a revolving door of incompetence.
What Is the Job Hopper Score for Consumer Loan Processor Employees?
Steady employment history in Consumer Loan Processor, with a tendency to stay with one company for extended periods of time.
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HR ManagerHouston, TX - A year ago
As an HR Manager, it's intriguing to see the importance of longevity in a job. It speaks to loyalty and expertise, but sometimes job hopping can bring fresh ideas too!
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Writer - ContractorSeattle, WA - A year ago
🙄 Honestly, I don't fit this millennial stereotype. Being a freelancer means constantly adapting to new opportunities and industries - and that's what excites me about my job!

Career path

Path to job

Discover a Consumer Loan Processor's areas of knowledge sorted by their majors.
Explore the list of higher education institutions that a Consumer Loan Processor typically studied at.
Madison Area Technical College
The Ohio State University

Path after job

Community

Demographics

What Is the Age and Gender Ratio of Consumer Loan Processor Employees?
Gender ratio in Consumer Loan Processor position: 0.390064102564103 Male and 0.609935897435897 Female. Age ratio in Consumer Loan Processor position: 16-20: 18%, 21-30: 61%, 31-40: 14%, 41-50: 5%, 51-60: 2%, 60+: 0%. Consumer Loan Processor position is predominantly female (61.0%) with the largest age group being 21-30 years old, followed by 16-20 years old.
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Consumer Loan ProcessorPhiladelphia, PA - A year ago
Do the kiddos fresh outta high school even know what they're doing with these loans? 🤔
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Consumer Loan ProcessorPhoenix, AZ - A year ago
So it's a ladies' club in this field, huh? Don't see many fellas here. 😑

Workplaces

Who Are the Top Employers for Consumer Loan Processor?
Top employers of Consumer Loan Processor position: Bank of America, JPMorgan Chase & Co., SoFi. People who work in Consumer Loan Processor position most typically go on to work for the Bank of America.
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Consumer Loan ProcessorSan Francisco, CA - A year ago
What about the work-life balance at SoFi? I've heard they treat their employees really well!
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Consumer Loan ProcessorHouston, TX - A year ago
Bank of America might be a big name, but JPMorgan Chase & Co. has a more inclusive and diverse workforce!
Bank of America
JPMorgan Chase & Co.
SoFi
What Industries Does Consumer Loan Processor Typically Have Experience In?
Industry Background: The most typical industries of Consumer Loan Processor: Finance & Insurance, Professional / Scientific / Technical, Administrative & Support, Education, Publishing & Broadcasting. Consumer Loan Processor employees most likely come from a Finance & Insurance industry background.
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Consumer Loan ProcessorHouston, TX - A year ago
Tips? Ha! Good luck finding any useful advice here. It's all about who you know and brown-nosing in this industry. 😒
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Consumer Loan ProcessorMiami, FL - A year ago
Well, if you're passionate about helping people achieve their financial goals, this could be a rewarding job for you. And yes, it does require attention to detail and excellent communication skills. 💼

Find your job as Consumer Loan Processor

Discussion about Consumer Loan Processor

Want to know more about Consumer Loan Processor position?
Share your thoughts and ideas about Consumer Loan Processor position with others in our community.
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How balanced is the gender diversity among people working as a Consumer Loan Processor?
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Isabella Holmes4 years ago
More women than men choose this profession.
What is the most common age of a Consumer Loan Processor?
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Sophie Hayes4 years ago
People working as a Consumer Loan Processor are 27 old on average.
Do I need a lot of experience to be a Consumer Loan Processor?
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Benjamin Gardner4 years ago
You probably need around 6 years to work as a Consumer Loan Processor
What industries does a Consumer Loan Processor typically work in?
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Liam Brown4 years ago
Finance & Insurance employs the most.
Is it encouraged to have a degree as a Consumer Loan Processor?
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Isabella Holmes4 years ago
You should be fine with No higher education
Where are you working as a Consumer Loan Processor?
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Sophie Hayes4 years ago
It’s common for a Consumer Loan Processor to work for Bank of America, JPMorgan Chase & Co., SoFi, TD and USAA
How many years of experience as a Consumer Loan Processor is needed in average to switch to another position?
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Sophie Hayes4 years ago
A Consumer Loan Processor typically moves on after 4 years
Is it frequent for people to switch companies and still work as a Consumer Loan Processor?
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Sophie Hayes4 years ago
For a typical Consumer Loan Processor changing companies is pretty rare.
What work history do people usually have before becoming a Consumer Loan Processor?
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Sophie Hayes4 years ago
You have a good chance of becoming a Consumer Loan Processor if you are working as Teller, Loan Processor or Customer Service Representative
Working as a Consumer Loan Processor what job titles should I consider to switch to?
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Liam Brown4 years ago
Changing from a Consumer Loan Processor to Loan Processor, Mortgage Loan Processor or Loan Officer is a typical career path.
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