FIND PERSONALIZED JOBS
Sign up to Zippia and discover your career options with your personalized career search.
Sorry, we can't find that. Please try a different city or state.

Loan Processor Overview

This job has expired and is no longer available.
APPLY NOW
Apply Now
×
FIND
PERSONALIZED JOBS

Sorry, we can't find that. Please try a different city or state.

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

Your search has been saved!

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

  • Mostly Sitting

  • Repetitive

  • $37,000

    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 Jobs

NO RESULTS

Aw snap, no jobs found.

Add To My Jobs

Loan Processor Career Paths

Loan Processor
Loan Officer Account Executive Office Manager
Business Office Manager
7 Yearsyrs
Loan Officer Account Executive Branch Manager
Manager, Assistant Vice President
7 Yearsyrs
Loan Officer Account Executive
Relationship Manager
6 Yearsyrs
Underwriter Senior Underwriter
Underwriting Manager
8 Yearsyrs
Underwriter Account Manager Vice President
Vice President And Manager
10 Yearsyrs
Underwriter Team Leader Office Manager
Office Manager Of Human Resources
6 Yearsyrs
Specialist Team Leader Office Manager
Accountant And Office Manager
6 Yearsyrs
Specialist Executive Assistant Property Manager
Portfolio Manager
7 Yearsyrs
Specialist Accountant Accounts Payable Supervisor
Accounts Payable Manager
7 Yearsyrs
Team Leader Manager Property Manager
Asset Manager
7 Yearsyrs
Legal Assistant Billing Specialist Accountant
Accounts Receivable Manager
6 Yearsyrs
Credit Analyst Senior Credit Analyst
Credit Manager
5 Yearsyrs
Legal Assistant Executive Assistant Assistant Property Manager
Assistant Community Manager
5 Yearsyrs
Credit Analyst Credit Manager
Collections Manager
5 Yearsyrs
Senior Underwriter Assistant Vice President Vice President And Manager
Vice President Operation Manager
10 Yearsyrs
Mortgage Loan Processor Senior Loan Processor
Processing Manager
7 Yearsyrs
Executive Assistant Assistant Store Manager Assistant Branch Manager
Branch Operations Manager
6 Yearsyrs
Credit Analyst Account Manager Operations Director
Assistant Vice President Operations
8 Yearsyrs
Senior Loan Officer Assistant Branch Manager Banking Center Manager
Client Manager
6 Yearsyrs
Analyst Manager Realtor
Real Estate Management Specialist
7 Yearsyrs
Show More
Share

Average Length of Employment
Loan Administrator 3.5 years
Loan Closer 3.2 years
Loan Officer 3.1 years
Loan Processor 3.0 years
Mortgage Processor 2.7 years
Loan Assistant 2.6 years
Loan Coordinator 2.6 years
Loan Specialist 2.4 years
Loan Auditor 2.2 years
Mortgage Assistant 1.9 years
Junior Processor 1.8 years
Top Careers Before Loan Processor
Cashier 7.0%
Teller 6.8%
Processor 3.7%
Manager 2.3%
Specialist 2.3%
Top Careers After Loan Processor
Cashier 5.3%
Processor 3.9%
Specialist 3.0%
Manager 2.4%

Do you work as a Loan Processor?

Average Yearly Salary
$37,000
Show Salaries
$30,000
Min 10%
$37,000
Median 50%
$37,000
Median 50%
$37,000
Median 50%
$37,000
Median 50%
$37,000
Median 50%
$37,000
Median 50%
$37,000
Median 50%
$46,000
Max 90%
Best Paying Company
BNP Paribas
Highest Paying City
Columbus, OH
Highest Paying State
Pennsylvania
Avg Experience Level
2.7 years
How much does a Loan Processor make at top companies?
The national average salary for a Loan Processor in the United States is $37,493 per year or $18 per hour. Those in the bottom 10 percent make under $30,000 a year, and the top 10 percent make over $46,000.

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.

See More Salaries

Top Skills for A Loan Processor

  1. Loan Applications
  2. Loan Portfolio
  3. Property Appraisals
You can check out examples of real life uses of top skills on resumes here:
  • Processed and closed mortgage loan applications through ordering required documents and development of a coherent and compliant package to the investor/lender.
  • Managed/Prepared nationwide manufactured mortgage loan portfolios for daily, weekly, monthly, quarterly and yearly reporting.
  • Evaluated credit reports, preliminary title reports, property appraisals, and other documentation submitted by borrower to determine loan eligibility.
  • Analyzed borrower profiles including income, credit reports, employment history and title insurance information to determine loan parameters and guidelines.
  • Provided superior internal and external customer service by proactively communicating with clients and business partners on loan decisions and underwriting guidelines.

Rank:

Average Salary:

Embed On Your Website

Top 10 Best States for Loan Processors

  1. Ohio
  2. Pennsylvania
  3. Delaware
  4. Montana
  5. South Dakota
  6. Nebraska
  7. Kentucky
  8. Indiana
  9. Utah
  10. Michigan
  • (271 jobs)
  • (309 jobs)
  • (25 jobs)
  • (32 jobs)
  • (13 jobs)
  • (44 jobs)
  • (69 jobs)
  • (117 jobs)
  • (79 jobs)
  • (174 jobs)

Loan Processor Resume Examples And Tips

The average resume reviewer spends between 5 to 7 seconds looking at a single resume, which leaves the average job applier with roughly six seconds to make a killer first impression. Thanks to this, a single typo or error on your resume can disqualify you right out of the gate. At Zippia, we went through over 36,342 Loan Processor resumes and compiled some information about how best to optimize them. Here are some suggestions based on what we found, divided by the individual sections of the resume itself.

Learn How To Create A Top Notch Loan Processor Resume

View Resume Examples

Loan Processor Demographics

Gender

Female

71.9%

Male

19.0%

Unknown

9.1%
Ethnicity

White

59.8%

Hispanic or Latino

18.2%

Black or African American

11.1%

Asian

7.3%

Unknown

3.5%
Show More
Foreign Languages Spoken

Spanish

67.0%

French

5.1%

Mandarin

3.8%

Chinese

3.0%

Portuguese

2.1%

German

2.1%

Vietnamese

1.8%

Korean

1.8%

Cantonese

1.8%

Russian

1.7%

Italian

1.6%

Arabic

1.5%

Japanese

1.2%

Urdu

1.1%

Hindi

1.0%

Armenian

0.9%

Polish

0.8%

Turkish

0.7%

Tagalog

0.7%

Dari

0.4%
Show More

Loan Processor Education

Schools

University of Phoenix

35.8%

Strayer University

6.1%

Ashford University

5.3%

Kaplan University

4.8%

Florida State College at Jacksonville

4.6%

Miami Dade College

4.1%

Liberty University

3.9%

Arizona State University

3.6%

University of North Texas

3.3%

Central Piedmont Community College

3.3%

The Academy

3.0%

American InterContinental University

2.8%

Northern Virginia Community College

2.6%

Southern New Hampshire University

2.5%

University of Missouri - Columbia

2.4%

Florida State University

2.4%

University of Missouri - Saint Louis

2.4%

Houston Community College

2.4%

Grand Canyon University

2.4%

California State University - Northridge

2.3%
Show More
Majors

Business

35.8%

Accounting

10.1%

Finance

7.3%

Health Care Administration

4.2%

Psychology

4.0%

Criminal Justice

3.9%

General Studies

3.8%

Real Estate

3.2%

Communication

3.1%

Management

3.0%

Legal Support Services

2.6%

Marketing

2.6%

Medical Assisting Services

2.6%

Education

2.5%

Nursing

2.4%

Liberal Arts

2.2%

Computer Science

2.1%

Human Resources Management

1.8%

English

1.6%

Elementary Education

1.4%
Show More
Degrees

Bachelors

35.5%

Other

32.3%

Associate

15.5%

Masters

7.6%

Certificate

5.6%

Diploma

2.0%

License

1.0%

Doctorate

0.4%
Show More

Job type you want
Full Time
Part Time
Internship
Temporary

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

Updated May 19, 2020