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Salary and Benefits

Mortgage Loan Processor
$36K-$45K / yr. (est.)
$37K
$40,928 / year
$45K
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 Mortgage Loan Processor

What does a Mortgage Loan Processor do?

As mortgage loan processors, we are a communication source between the clients and monetary foundations that offer reliable candidates funds. We generally are accessible to communicate with our clients, answer their inquiries and help them with whatever information they need about lending loans. As mortgage processors, our responsibility is to suggest to individuals the best account item to suit their business' necessities, and we also do the paperwork for them. We are exceptionally proficient in carrying out the entire process without troubling anyone.

Core tasks:

  • preparing mortgage application files
  • approving or denying applications for a loan
  • determining proportions to set up obligation installment techniques
  • guiding clients
  • briefing directors on the loan situations

Insights

How Many Years of Experience Do Professionals Need Before Becoming Mortgage Loan Processor?
On average, people work 5-7 years in other positions prior to becoming a Mortgage Loan Processor.
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Mortgage Loan ProcessorMiami, FL - 3 months ago
Well, I started as a Mortgage Loan Processor right away! Who needs several years in other jobs when you've got passion and drive? ๐Ÿ˜Ž
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Mortgage Loan ProcessorHouston, TX - 3 months ago
๐Ÿ™„ Doesn't really matter how long it takes to get here. What matters is how well you do the job once you're in it!
How Long Do Mortgage Loan Processor Employees Typically Stay in Their Roles?
On average, Mortgage Loan Processors works in this position for 3-5 years across multiple employers.
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Loan OfficerHouston, TX - 3 months ago
I've trained countless Mortgage Loan Processors over the years only to see them leave for a higher-paying position elsewhere. It's frustrating!
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Financial AdvisorMiami, FL - 3 months ago
why dont banks appreciate loyalty? They should realize the importance of a qualified Mortgage Loan Processor and compensate them accordingly! ๐Ÿคฆ
What Is the Job Hopper Score for Mortgage Loan Processor Employees?
Frequent job changes in Mortgage Loan Processor, indicating a willingness to change companies and roles more frequently.
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HR RecruiterHouston, TX - 3 months ago
Hmm, perhaps the frequent job changes among Mortgage Loan Processors represent an eagerness to expand their professional network, learn from industry best practices, and uncover fresh growth opportunities. Who wouldn't want that? ๐Ÿ˜Š
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Financial AdvisorMiami, FL - 3 months ago
I believe consistent employment exhibits not only loyalty and reliability but also levels of expertise required to support clients effectively. Frequent job changes among Mortgage Loan Processors could lead to a lack of trust and specialization.

Career path

Path to job

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

Path after job

Community

Demographics

What Is the Age and Gender Ratio of Mortgage Loan Processor Employees?
Gender ratio in Mortgage Loan Processor position: 0.348450341617982 Male and 0.651549658382018 Female. Age ratio in Mortgage Loan Processor position: 16-20: 10%, 21-30: 62%, 31-40: 18%, 41-50: 8%, 51-60: 2%, 60+: 0%. Mortgage Loan Processor position is predominantly female (65.2%) with the largest age group being 21-30 years old, followed by 31-40 years old.
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Mortgage Loan ProcessorPhiladelphia, PA - 3 months ago
Why are there so few 16-20 year-olds in this occupation? Are there any barriers to entry? ๐Ÿšง
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Mortgage Loan ProcessorPhoenix, AZ - 3 months ago
It's disheartening that the age diversity is lacking in this profession. We need more opportunities for professionals in their 40s and 50s! ๐Ÿ˜ž

Workplaces

Who Are the Top Employers for Mortgage Loan Processor?
Top employers of Mortgage Loan Processor position: Fairway Independent Mortgage, JPMorgan Chase & Co., U.S. Bank. People who work in Mortgage Loan Processor position most typically go on to work for the Fairway Independent Mortgage.
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Mortgage Loan ProcessorHouston, TX - 3 months ago
U.S. Bank has the best work-life balance for Mortgage Loan Processors. Fairway Independent Mortgage and JPMorgan Chase & Co. may have more volume, but it's not worth the burnout.
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Mortgage Loan ProcessorPhiladelphia, PA - 3 months ago
Fairway Independent Mortgage understands the local market better than anyone. JPMorgan Chase & Co. and U.S. Bank may have broader reach, but they lack the personal touch.
Fairway Independent Mortgage
JPMorgan Chase & Co.
U.S. Bank
What Industries Does Mortgage Loan Processor Typically Have Experience In?
Industry Background: The most typical industries of Mortgage Loan Processor: Finance & Insurance, Professional / Scientific / Technical, Real Estate / Rental / Leasing, Construction, Administrative & Support. Mortgage Loan Processor employees most likely come from a Finance & Insurance industry background.
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Mortgage Loan ProcessorHouston, TX - 3 months ago
Y'all need to chill! The housing market is constantly changing, and we have to adapt to new regulations and submit accurate information to underwriters. ๐Ÿข
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Mortgage Loan ProcessorPhiladelphia, PA - 3 months ago
Oh, please! Just because someone is curious about the process doesn't mean they don't understand the job. Let's enlighten them instead of being defensive. ๐Ÿ˜’

Find your job as Mortgage Loan Processor

Discussion about Mortgage Loan Processor

Want to know more about Mortgage Loan Processor position?
Share your thoughts and ideas about Mortgage Loan Processor position with others in our community.
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Do I need to take any courses to qualify for Mortgage Loan Processor?
Will I have a lot of responsibility if I start working as a Mortgage Loan Processor?
How much experience do I need for Mortgage Loan Processor?
Is it possible to be a freelancer and work as a Mortgage Loan Processor at the same time?
What typical interview questions do you have to answer?
How was your hiring experience when you applied for a job as a Mortgage Loan Processor?
People working as a Mortgage Loan Processor, what does your work environment look like?
Does a Mortgage Loan Processor make a lot of money?
What do people working as a Mortgage Loan Processor wear?
Do you see the demand growing for people working as a Mortgage Loan Processor?
Which educational institutions are typical amongst people working as a Mortgage Loan Processor?
What is the women/men ratio in the job of Mortgage Loan Processor?
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Sophie Hayes2 years ago
More women than men choose this profession.
How old are people who work as a Mortgage Loan Processor?
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Isabella Holmes2 years ago
28 is the average age of people working as a Mortgage Loan Processor.
Is a Mortgage Loan Processor considered to be a senior profession?
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Liam Brown2 years ago
6 years of experience is needed on average for a Mortgage Loan Processor.
Which industries are highly likely to employ a Mortgage Loan Processor?
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Sophie Hayes2 years ago
Finance & Insurance is typical for a Mortgage Loan Processor to work in.
What kind of degree is needed to work as a Mortgage Loan Processor?
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Benjamin Gardner2 years ago
As a Mortgage Loan Processor youโ€™ll probably need No higher education
Which company employs the most people in the Mortgage Loan Processor role?
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Sophie Hayes2 years ago
Itโ€™s common for a Mortgage Loan Processor to work for Fairway Independent Mortgage, JPMorgan Chase & Co., U.S. Bank, Wells Fargo and Wells Fargo Home Mortgage
How many years do people work as a Mortgage Loan Processor before changing their role?
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Benjamin Gardner2 years ago
You should work for 4 years before considering changing to another role.
Is it frequent for people to switch companies and still work as a Mortgage Loan Processor?
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Isabella Holmes2 years ago
We can say that a Mortgage Loan Processor is likely a job hopper role.
What do people usually work as before switching to Mortgage Loan Processor?
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Liam Brown2 years ago
Typical prior positions for a Mortgage Loan Processor are Loan Processor, Mortgage Processor or Customer Service Representative
If Iโ€™m working as a Mortgage Loan Processor, what next position could I have?
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Sophie Hayes2 years ago
Loan Processor, Mortgage Loan Officer or Mortgage Underwriter can be a good next step
Don't Miss Out on the Perfect Mortgage Loan Processor job
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