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

CONTENT HAS
BEEN UNLOCKED
Close this window to view unlocked content
or
find interesting jobs in

Log In

Log In to Save

Sign Up to Save

Sign Up to Dismiss

Sign Up

SIGN UP TO UNLOCK CONTENT

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

Log In

Log In to Save

Sign Up to Save

Sign Up to Dismiss

Sign up to save the job and get personalized job recommendations.

Sign up to dismiss the job and get personalized job recommendations.

or

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

Email and password are mandatory

Already have an account? Log in

reset password

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

Back to Log In

Company Saved

Answer a few questions and view jobs at that match your preferences.

Where do you want to work?

Job Saved

See your Saved Jobs now

or

find more interesting jobs in

Job Dismissed

Find better matching jobs in

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

  • $36,994

    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

Do you work as a Loan Processor?

Send To A Friend

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

Loan Processor Jobs

NO RESULTS

Aw snap, no jobs found.

Add To My Jobs

Loan Processor Career Paths

Loan Processor
Account Manager Operations Manager Property Manager
Asset Manager
7 Yearsyrs
Operations Manager Sales Consultant Leasing Consultant
Assistant Community Manager
5 Yearsyrs
Specialist Operation Supervisor Team Manager
Assistant Vice President Operations
8 Yearsyrs
Account Manager Account Executive Personal Banker
Banking Center Manager
5 Yearsyrs
Service Specialist Personal Banker Assistant Branch Manager
Branch Operations Manager
6 Yearsyrs
Mortgage Loan Processor Loan Officer Branch Manager
Branch Sales Manager
6 Yearsyrs
Mortgage Loan Processor Senior Loan Processor
Client Relations Manager
6 Yearsyrs
Specialist Account Manager Property Manager
Commercial Property Manager
7 Yearsyrs
Accounts Payable Clerk Credit Analyst
Credit Manager
5 Yearsyrs
Office Manager Operations Manager Branch Manager
Manager, Assistant Vice President
7 Yearsyrs
Closing Coordinator Closer Closing Manager
Mutual Fund Manager
6 Yearsyrs
Loan Officer Account Executive Office Manager
Office Manager Of Human Resources
7 Yearsyrs
Office Manager Payroll Specialist
Payroll Manager
8 Yearsyrs
Operations Manager Real Estate Agent Real Estate Broker
Real Estate Management Specialist
7 Yearsyrs
Loan Officer Branch Manager Account Executive
Relationship Manager
6 Yearsyrs
Senior Loan Processor Underwriter
Underwriting Manager
8 Yearsyrs
Underwriter Assistant Vice President Vice President And Manager
Vice President Operation Manager
10 Yearsyrs
Loan Documentation Specialist Loan Servicing Specialist
Work Director
5 Yearsyrs
Show More
Share

Do you work as a Loan Processor?

Help others decide if this is a good career for them

Average Length of Employment
Loan Secretary 3.8 years
Loan Processor 3.0 years
Loan Closer 3.0 years
Loan Clerk 3.0 years
Loan Assistant 2.6 years
Loan Coordinator 2.5 years
Mortgage Processor 2.5 years
Loan Analyst 2.4 years
Loan Specialist 2.3 years
Contract Processor 1.9 years
Junior Processor 1.8 years
Top Careers Before Loan Processor
Teller 9.9%
Cashier 4.4%
Processor 3.7%
Specialist 2.5%
Top Careers After Loan Processor
Teller 4.5%
Processor 4.1%
Specialist 2.9%
Cashier 2.8%

Do you work as a Loan Processor?

Loan Processor Demographics

Gender

Female

77.4%

Male

20.4%

Unknown

2.2%
Ethnicity

White

59.8%

Hispanic or Latino

18.1%

Black or African American

11.0%

Asian

7.5%

Unknown

3.6%
Show More
Foreign Languages Spoken

Spanish

63.6%

French

6.3%

Mandarin

4.2%

Chinese

3.3%

Russian

2.4%

Vietnamese

2.1%

German

2.1%

Portuguese

2.0%

Cantonese

2.0%

Korean

1.8%

Italian

1.8%

Arabic

1.8%

Japanese

1.3%

Armenian

1.0%

Urdu

1.0%

Turkish

0.8%

Hindi

0.7%

Greek

0.7%

Tagalog

0.7%

Polish

0.7%
Show More

Loan Processor Education

Schools

University of Phoenix

30.6%

Strayer University

6.3%

Ashford University

5.5%

Liberty University

5.3%

Kaplan University

5.1%

Florida State College at Jacksonville

4.4%

Central Piedmont Community College

3.8%

Southern New Hampshire University

3.6%

University of North Texas

3.6%

Miami Dade College

3.6%

Florida State University

3.3%

Grand Canyon University

3.3%

University of North Florida

2.8%

Orange Coast College

2.8%

California State University - Northridge

2.8%

Northern Virginia Community College

2.8%

College of DuPage

2.7%

Cerritos College

2.7%

Glendale Community College

2.6%

University of Missouri - Columbia

2.6%
Show More
Majors

Business

35.6%

Accounting

9.9%

Finance

7.4%

Health Care Administration

4.1%

Psychology

3.9%

Criminal Justice

3.8%

General Studies

3.6%

Real Estate

3.4%

Management

3.2%

Communication

3.1%

Legal Support Services

2.6%

Education

2.6%

Marketing

2.6%

Liberal Arts

2.3%

Computer Science

2.3%

Human Resources Management

2.3%

Nursing

2.1%

Medical Assisting Services

2.0%

English

1.7%

Political Science

1.4%
Show More
Degrees

Bachelors

35.3%

Other

33.6%

Associate

14.6%

Masters

8.3%

Certificate

5.1%

Diploma

1.7%

License

0.9%

Doctorate

0.5%
Show More

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

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

How Would You Rate The Salary Of a Loan Processor?

Have you worked as a Loan Processor? Help other job seekers by rating your experience as a Loan Processor.

Top Skills for A Loan Processor

  1. Loan Applications
  2. Appraisals
  3. Credit Reports
You can check out examples of real life uses of top skills on resumes here:
  • Submitted loan applications to the underwriter for verification and approval.
  • Acquire necessary documentation, verification, appraisals and payoffs statements.
  • Prepared and order all necessary exhibits for appraisals and credit reports and Reviewed alternative documentation for accuracy and potential problems.
  • Provided superior internal and external customer service by proactively communicating with clients and business partners on loan decisions and underwriting guidelines.
  • Compiled database of loan applicant's credit histories, corporate financial statements and other financial information.

How Would You Rate Working As a Loan Processor?

Are you working as a Loan Processor? Help us rate Loan Processor as a Career.

Rank:

Average Salary:

Embed On Your Website

Top 10 Best States for Loan Processors

  1. Connecticut
  2. Colorado
  3. Arizona
  4. New Jersey
  5. Texas
  6. Florida
  7. District of Columbia
  8. North Dakota
  9. Nebraska
  10. Oregon
  • (58 jobs)
  • (107 jobs)
  • (175 jobs)
  • (170 jobs)
  • (390 jobs)
  • (386 jobs)
  • (10 jobs)
  • (13 jobs)
  • (44 jobs)
  • (79 jobs)

Top Loan Processor Employers

Jobs From 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

Related to your recently viewed content