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About Loan Processor

What does a Loan Processor do?

As loan processors, our role demands us to guarantee that all data given by the client is accurate and abides by the current lawful ties. We have a tremendous communicational, organizational, and strategic thinking approach since we go about as a characteristic scaffold between invested individuals and financing organizations. We likewise know how to be amazingly conscientious and coordinated to complete our positions in an ideal manner conceivable. Alongside every one of these jobs, we additionally monitor how individuals utilize their loans, so no money goes to waste.

Core tasks:

  • checking the background of people asking for a loan
  • recording all financial records
  • settling repayment strategies
  • signing loan agreement

Insights

How Many Years of Experience Do Professionals Need Before Becoming Loan Processor?
On average, people work 3-5 years in other positions prior to becoming a Loan Processor.
How Long Do Loan Processor Employees Typically Stay in Their Roles?
On average, Loan Processors works in this position for 3-5 years across multiple employers.
What Is the Job Hopper Score for Loan Processor Employees?
Frequent job changes in Loan Processor, indicating a willingness to change companies and roles more frequently.

Career path

Path to job

Discover a Loan Processor's areas of knowledge sorted by their majors.
Explore the list of higher education institutions that a Loan Processor typically studied at.
Arizona State University-Tempe
San Diego State University

Path after job

Community

Demographics

What Is the Age and Gender Ratio of Loan Processor Employees?
Gender ratio in Loan Processor position: 0.329751894529222 Male and 0.670248105470778 Female. Age ratio in Loan Processor position: 16-20: 16%, 21-30: 60%, 31-40: 16%, 41-50: 6%, 51-60: 2%, 60+: 0%. Loan Processor position is predominantly female (67.0%) with the largest age group being 21-30 years old, followed by 31-40 years old.

Workplaces

Who Are the Top Employers for Loan Processor?
Top employers of Loan Processor position: Bank of America, Fairway Independent Mortgage, Guild Mortgage. People who work in Loan Processor position most typically go on to work for the Bank of America.
Bank of America
Fairway Independent Mortgage
Guild Mortgage
What Industries Does Loan Processor Typically Have Experience In?
Industry Background: The most typical industries of Loan Processor: Finance & Insurance, Professional / Scientific / Technical, Real Estate / Rental / Leasing, Construction, Administrative & Support. Loan Processor employees most likely come from a Finance & Insurance industry background.

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Discussion about Loan Processor

Want to know more about Loan Processor position?
Share your thoughts and ideas about Loan Processor position with others in our community.
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What type of certification do I need for Loan Processor?
How does the typical work day look for a Loan Processor?
What kind of experience is needed to work as a Loan Processor?
Is it typical for a freelancer to work as a Loan Processor?
Is the interview process long if you apply for a job as a Loan Processor?
Is it hard to get a job as a Loan Processor?
Are the working conditions good if you work as a Loan Processor?
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May 15, 2023
Single homeowner no pets, no roommates dedicated office
Can you make a decent amount of money if you work as Loan Processor?
How formal is the dress code if you work as a Loan Processor?
Does job growth for a Loan Processor look promising?
Which educational institutions give the most Loan Processor to the world?
What is the women/men ratio in the job of Loan Processor?
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Sophie HayesFebruary 12, 2021
Women are more common working as a Loan Processor.
How old are people who work as a Loan Processor?
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Benjamin GardnerFebruary 12, 2021
The average age is 27
Is a Loan Processor considered to be a junior profession?
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Sophie HayesFebruary 12, 2021
You should work for 4 years on average to become a Loan Processor.
Which industries does a Loan Processor typically work in?
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Liam BrownFebruary 12, 2021
For a Loan Processor it’s the most likely to work in the Finance & Insurance.
Do I need a degree to work as a Loan Processor?
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Isabella HolmesFebruary 12, 2021
Most people have No higher education
Which company are you working for as a Loan Processor?
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Liam BrownFebruary 12, 2021
It’s common for a Loan Processor to work for Bank of America, Fairway Independent Mortgage, Guild Mortgage, JPMorgan Chase & Co. and Wells Fargo Home Mortgage
How long do you usually work as a Loan Processor before changing to another position?
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Benjamin GardnerFebruary 12, 2021
On average people change after 4 years.
How frequently people change companies if they work as a Loan Processor?
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Sophie HayesFebruary 12, 2021
A Loan Processor is likely to work for multiple companies as a Loan Processor.
What occupations do people usually work in before becoming a Loan Processor?
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Sophie HayesFebruary 12, 2021
You have a good chance of becoming a Loan Processor if you are working as Mortgage Loan Processor, Loan Officer or Customer Service Representative
Working as a Loan Processor what job titles should I consider to switch to?
avatar-of-creator
Isabella HolmesFebruary 12, 2021
Mortgage Loan Processor, Underwriter or Loan Officer can be a good next step
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