Document processor vs contract processor

The differences between document processors and contract processors can be seen in a few details. Each job has different responsibilities and duties. It typically takes 6-12 months to become both a document processor and a contract processor. Additionally, a contract processor has an average salary of $35,234, which is higher than the $32,730 average annual salary of a document processor.

The top three skills for a document processor include data entry, quality standards and real estate. The most important skills for a contract processor are data entry, computer system, and contract data.

Document processor vs contract processor overview

	Document Processor	Contract Processor
Yearly salary	$32,730	$35,234
Hourly rate	$15.74	$16.94
Growth rate	-	-3%
Number of jobs	8,761	13,996
Job satisfaction	-	-
Most common degree	Bachelor's Degree, 35%	Bachelor's Degree, 45%
Average age	50	50
Years of experience	12	12

Document processor vs contract processor salary

Document processors and contract processors have different pay scales, as shown below.

	Document Processor	Contract Processor
Average salary	$32,730	$35,234
Salary range	Between $26,000 And $40,000	Between $27,000 And $45,000
Highest paying City	Boston, MA	-
Highest paying state	Massachusetts	-
Best paying company	Pfizer	-
Best paying industry	Insurance	-

Differences between document processor and contract processor education

There are a few differences between a document processor and a contract processor in terms of educational background:

	Document Processor	Contract Processor
Most common degree	Bachelor's Degree, 35%	Bachelor's Degree, 45%
Most common major	Business	Business
Most common college	-	-

Document processor vs contract processor demographics

Here are the differences between document processors' and contract processors' demographics:

	Document Processor	Contract Processor
Average age	50	50
Gender ratio	Male, 28.9% Female, 71.1%	Male, 28.2% Female, 71.8%
Race ratio	Black or African American, 6.7% Unknown, 4.5% Hispanic or Latino, 10.7% Asian, 4.7% White, 72.3% American Indian and Alaska Native, 1.1%	Black or African American, 6.7% Unknown, 4.5% Hispanic or Latino, 10.7% Asian, 4.7% White, 72.3% American Indian and Alaska Native, 1.1%
LGBT Percentage	7%	7%

Differences between document processor and contract processor duties and responsibilities

Document processor example responsibilities.

Manage a monthly pipeline averaging 100 files from origination to funding per month as a Jr. processor.
Summer internship, FHA loan processing
Used WordPerfect in windows environment.
Scan responses using an OPEX scanner.
Enter vehicle data into the AS400 system.
Prep, scan and index documents using OnBase.

Contract processor example responsibilities.

Coach fellow team members to help attain higher QA and assist with CANDE questions to ensure efficiency.
Process FHA, VA and CONV.
Process and pre-underwrite FHA and conventional loans.
Schedule closings and review final HUD report and any adverse compliance action.
Recognize for being proficient in thinking outside the box for satisfactory documentation to clear underwriting conditions and RESPA regulations.
Respond to mortgage lenders and taxing agency jurisdictions by utilizing effective verbal and written communication in a prompt and accurate manner.

Document processor vs contract processor skills

Common document processor skills

Data Entry, 51%
Quality Standards, 7%
Real Estate, 5%
Computer System, 4%
Office Equipment, 4%
Clerical Tasks, 2%

Common contract processor skills

Data Entry, 24%
Computer System, 14%
Contract Data, 9%
Process Contracts, 9%
Customer Issues, 7%
Financial Transactions, 6%

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Document Processor
Document Processor vs Contract Processor

Updated January 8, 2025

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