FIND PERSONALIZED JOBS
Sign up to Zippia and discover your career options with your personalized career search.

Log In

Log In to Save

Sign Up to Save

Sign Up to Dismiss

or

The email and password you specified are invalid. Please, try again.

Email and password are mandatory

Forgot Password?

Don't have an account? Sign Up

reset password

Enter your email address and we will send you a link to reset your password.

Back to Log In

FIND
PERSONALIZED JOBS

Become A Loan Processor

Where do you want to work?

To get started, tell us where you'd like to work.
Sorry, we can't find that. Please try a different city or state.

Working As A Loan Processor

  • Processing Information
  • Interacting With Computers
  • Communicating with Persons Outside Organization
  • Getting Information
  • Performing for or Working Directly with the Public
  • Deal with People

  • Unpleasant/Angry People

  • Mostly Sitting

  • Repetitive

  • Stressful

  • $40,530

    Average Salary

What Does A Loan Processor Do

Financial clerks do administrative work for many types of organizations. They keep records, help customers, and carry out financial transactions.

Duties

Financial clerks typically do the following:

  • Keep and update financial records
  • Compute bills and charges
  • Offer customer assistance
  • Carry out financial transactions

Financial clerks give administrative and clerical support in financial settings. Their specific job duties vary by specialty and by setting.

Billing and posting clerks calculate charges, develop bills, and prepare them to be mailed to customers. They review documents such as purchase orders, sales tickets, charge slips, and hospital records to compute fees or charges due. They also contact customers to get or give account information.

Gaming cage workers work in casinos and other gaming establishments. The “cage” in which they work is the central depository for money and gaming chips. Gaming cage workers sell gambling chips, tokens, or tickets to patrons. They count funds and reconcile daily summaries of transactions in order to balance books.

Payroll and timekeeping clerks compile and post employee time and payroll data. They verify and record attendance, hours worked, and pay adjustments. They ensure that employees are paid on time and that their paychecks are accurate.

Procurement clerks compile requests for materials, prepare purchase orders, keep track of purchases and supplies, and handle questions about orders. They respond to questions from customers and suppliers about the status of orders. They handle requests to change or cancel orders. They make sure that purchases arrive on schedule and that the items meet the purchaser’s specifications.

Brokerage clerks help with tasks associated with securities such as stocks, bonds, commodities, and other kinds of investments. Their duties include writing orders for stock purchases and sales, computing transfer taxes, verifying stock transactions, accepting and delivering securities, distributing dividends, and keeping records of daily transactions and holdings.

Credit authorizers, checkers, and clerks review the credit history, and get the information needed to determine the creditworthiness, of individuals or businesses applying for credit. Credit authorizers evaluate customers’ computerized credit records and payment histories to decide, based on predetermined standards, whether to approve new credit. Credit checkers call or write credit departments of business and service establishments to get information about applicants’ credit standing.

Loan interviewers, also called loan processors or loan clerks, interview applicants and others to get and verify personal and financial information needed to complete loan applications. They also prepare the documents that go to the appraiser and are issued at the closing of a loan.

New accounts clerks interview people who want to open accounts in financial institutions. They explain the account services available to prospective customers and help them fill out applications. They also investigate and correct errors in accounts.

Insurance claims and policy processing clerks process applications for insurance policies. They also handle customers’ requests to change or cancel their existing policies. Their duties include interviewing clients and reviewing insurance applications to ensure that all questions have been answered. They also notify insurance agents and accounting departments of policy cancellations or changes.

Show More

Show Less

How To Become A Loan Processor

A high school diploma or equivalent is typically required for most financial clerk jobs. These workers usually learn their duties through on-the-job training.

Education

Financial clerks typically need a high school diploma or equivalent to enter the occupation. Employers of brokerage clerks may prefer candidates who have taken some college courses in business or economics and, in some cases, require a 2- or 4-year college degree.

Training

Most financial clerks learn how to do their job duties through on-the-job training. Some formal technical training also may be necessary; for example, gaming cage workers may need training in specific gaming regulations and procedures.

Advancement

Financial clerks can advance to related occupations in finance. For example, a loan interviewer or clerk can become a loan officer, and a brokerage clerk can become a securities, commodities, or financial services sales agent, after obtaining the required education and license.

Important Qualities

Communication skills. Financial clerks should have good communication skills so that they can explain policies and procedures to colleagues and customers.

Math skills. The job duties of financial clerks, including calculating charges and checking credit scores, require basic math skills.

Organizational skills. Strong organizational skills are important for financial clerks because they must be able to find files quickly and efficiently.

Show More

Show Less

Loan Processor jobs

NO RESULTS

Aw snap, no jobs found.

Add To My Jobs

Loan Processor Career Paths

Loan Processor
Loan Officer Branch Manager General Manager
Account Manager
5 Yearsyrs
Specialist Accountant Staff Accountant
Accounts Payable Manager
7 Yearsyrs
Specialist Account Manager Billing Specialist
Accounts Receivable Manager
6 Yearsyrs
Mortgage Loan Processor Loan Officer Office Manager
Administrative Manager
6 Yearsyrs
Accounts Payable Clerk Operations Manager Property Manager
Asset Manager
7 Yearsyrs
Loan Officer Account Executive Sales Manager
Branch Manager
6 Yearsyrs
Service Specialist Personal Banker Loan Officer
Branch Manager/Loan Officer
5 Yearsyrs
Account Manager Sales Manager Office Manager
Business Office Manager
8 Yearsyrs
Loan Originator Loan Officer Senior Loan Processor
Client Relations Manager
6 Yearsyrs
Analyst Compliance Analyst Compliance Specialist
Compliance Manager
9 Yearsyrs
Accounts Payable Clerk Credit Analyst
Credit Manager
5 Yearsyrs
Accounting Clerk Accounts Payable Clerk Credit Analyst
Credit Officer
5 Yearsyrs
Office Manager Operations Manager
General Manager
7 Yearsyrs
Account Manager Account Executive Sales Manager
Office Manager
5 Yearsyrs
Office Manager Account Manager Sales Manager
Operations Manager
7 Yearsyrs
Mortgage Loan Processor Office Manager Payroll Specialist
Payroll Manager
7 Yearsyrs
Senior Loan Processor Loss Mitigation Specialist Foreclosure Specialist
Property Preservation Specialist
6 Yearsyrs
Accounting Clerk Legal Assistant Executive Assistant
Senior Executive Assistant
7 Yearsyrs
Senior Loan Processor
6 Yearsyrs
Underwriter Senior Underwriter
Underwriting Manager
8 Yearsyrs
Show More

Average Length of Employment
Loan Secretary 4.0 years
Loan Administrator 3.5 years
Loan Manager 3.1 years
Loan Clerk 3.0 years
Loan Closer 3.0 years
Loan Processor 3.0 years
Loan Officer 3.0 years
Loan Reviewer 2.9 years
Loan Originator 2.8 years
Mortgage Processor 2.5 years
Loan Assistant 2.5 years
Loan Coordinator 2.5 years
Loan Analyst 2.4 years
Title Processor 2.4 years
Post Closer 2.3 years
Loan Specialist 2.3 years
Junior Underwriter 2.2 years
Loan Auditor 2.2 years
Processor 2.0 years
Contract Processor 2.0 years
Closer 1.9 years
Junior Processor 1.8 years
Mortgage Assistant 1.8 years
Loan Adviser 1.7 years
Top Employers Before
Teller 7.6%
Cashier 4.0%
Processor 3.2%
Specialist 2.5%
Top Employers After
Processor 3.7%
Specialist 2.9%
Cashier 2.6%

Loan Processor Demographics

Gender

Female

77.6%

Male

20.4%

Unknown

2.1%
Ethnicity

White

77.7%

Hispanic or Latino

13.0%

Asian

7.3%

Unknown

1.5%

Black or African American

0.5%
Show More
Languages Spoken

Spanish

65.5%

French

5.6%

Mandarin

4.2%

Chinese

2.9%

Vietnamese

2.3%

Russian

2.1%

German

2.0%

Italian

1.8%

Portuguese

1.8%

Cantonese

1.8%

Korean

1.7%

Arabic

1.7%

Japanese

1.4%

Urdu

1.1%

Tagalog

0.9%

Armenian

0.8%

Carrier

0.8%

Hindi

0.6%

Turkish

0.6%

Greek

0.6%
Show More

Loan Processor Education

Schools

University of Phoenix

29.1%

Strayer University

6.0%

Ashford University

5.6%

Kaplan University

5.4%

Liberty University

5.2%

Southern New Hampshire University

4.3%

Florida State College at Jacksonville

4.2%

Miami Dade College

3.8%

Central Piedmont Community College

3.7%

University of North Texas

3.5%

Florida State University

3.4%

Grand Canyon University

3.4%

Orange Coast College

3.2%

California State University - Northridge

2.9%

College of DuPage

2.9%

Northern Virginia Community College

2.9%

American InterContinental University

2.9%

University of North Florida

2.8%

Cerritos College

2.6%

Arizona State University

2.5%
Show More
Majors

Business

35.3%

Accounting

10.0%

Finance

7.4%

Psychology

4.0%

Health Care Administration

4.0%

Criminal Justice

3.9%

General Studies

3.8%

Management

3.3%

Real Estate

3.3%

Communication

3.1%

Legal Support Services

2.6%

Education

2.6%

Marketing

2.6%

Liberal Arts

2.5%

Computer Science

2.3%

Human Resources Management

2.2%

Nursing

2.2%

Medical Assisting Services

2.0%

English

1.6%

Elementary Education

1.4%
Show More
Degrees

Bachelors

35.3%

Other

33.8%

Associate

14.6%

Masters

8.3%

Certificate

5.0%

Diploma

1.7%

License

0.8%

Doctorate

0.5%
Show More
Job type you want
Full Time
Part Time
Internship
Temporary

Real Loan Processor Salaries

Job Title Company Location Start Date Salary
Loan Processor Metroreal Inc. Saratoga, CA Oct 01, 2012 $46,634
Loan Processor Best Loan Choice, Inc. Columbia, MD Nov 01, 2014 $42,000
Loan Processor Circle Square Group, Inc. Columbia, MD Sep 14, 2013 $42,000
Loan Processor Ivy Mortgage Inc. Bellevue, WA Sep 21, 2013 $42,000
Loan Processor Ivy Mortgage Inc. Fulton, MD Sep 24, 2013 $42,000
Loan Processor Circle Square Group, Inc. Columbia, MD Sep 26, 2013 $42,000
Loan Processor Industrial and Commercial Bank of China (USA) N.A. New York, NY Apr 30, 2016 $40,000
Loan Processor TPI Mortgage Herndon, VA Aug 15, 2008 $38,255
Loan Processor Prysma Lending Group LLC Danbury, CT Sep 24, 2009 $26,004
Loan Processor ACPE Federal Credit Union Laramie, WY Jul 11, 2012 $22,880
Loan Processor ACPE Federal Credit Union Laramie, WY Oct 01, 2012 $22,880
Loan Processor First Capital Group Inc. Miami, FL Dec 07, 2009 $20,870 -
$15
Loan Processor Allegany Co Teachers FCU La Vale, MD Mar 23, 2012 $18,720
Loan Processor Allegany Co Teachers FCU La Vale, MD Mar 28, 2012 $18,720
Loan Processor Allegany Co Teachers FCU La Vale, MD Oct 01, 2012 $18,720

No Results

To get more results, try adjusting your search by changing your filters.

Show More

Top Skills for A Loan Processor

LoanApplicationsPropertyAppraisalsLoanDocumentsCreditReportsMortgageLoansCustomerServiceLoanOfficersFha/VaFinancialStatementsProcessLoansLoanFilesTitleCompaniesLendersRealEstateAgentsEscrowUnderwritingGuidelinesDataEntryLoanPackagesFannieMAELoanApproval

Show More

Top Loan Processor Skills

  1. Loan Applications
  2. Property Appraisals
  3. Loan Documents
You can check out examples of real life uses of top skills on resumes here:
  • Requested and processed proper paperwork needed to approve loan applications.
  • Requested credit reports, property appraisals, background checks, and other pertinent information to loan applicant's evaluation.
  • Assisted in escrow signing loan documents and funding.
  • Prepared residential loan applications for clients and obtained and reviewed credit reports, tax returns, W-2s and 1099s.
  • Receive, analyze, setup, monitor and track to release, government residential mortgage loans.

Top Loan Processor Employers

Loan Processor Videos

Ask the Mortgage Trainer: What Does a Loan Processor Do?

Ask the Mortgage Trainer: How to Train a Loan Processor

Loan Information : Job Descriptions for Loan Processors

×