How to hire a loan services representative

How to hire a loan services representative, step by step

Here's a step-by-step loan services representative hiring guide:

• Step 1: Identify your hiring needs
• Step 2: Create an ideal candidate profile
• Step 3: Make a budget
• Step 4: Write a loan services representative job description
• Step 5: Post your job
• Step 6: Interview candidates
• Step 7: Send a job offer and onboard your new loan services representative
• Step 8: Go through the hiring process checklist

What does a loan services representative do?

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1. Identify your hiring needs

   The loan services representative hiring process starts by determining what type of worker you actually need. Certain roles might require a full-time employee, whereas part-time workers or contractors can do others.

   Determine employee vs contractor status

   Is the person you're thinking of hiring a US citizen or green card holder?

   Yes

   No

   A loan services representative's background is also an important factor in determining whether they'll be a good fit for the position. For example, loan services representatives from different industries or fields will have radically different experiences and will bring different viewpoints to the role. You also need to consider the candidate's previous level of experience to make sure they'll be comfortable with the job's level of seniority.

   This list presents loan services representative salaries for various positions.

   Type of Loan Services Representative	Description	Hourly rate
   Loan Services Representative	Financial clerks do administrative work for many types of organizations. They keep records, help customers, and carry out financial transactions.	$7-47
   Loan Coordinator	A Loan Coordinator is responsible for processing loan applications and determining the eligibility of applicants for loan options. Loan Coordinators perform administrative and clerical duties under the supervision of a loan supervisor... Show more	$14-24
   Loan Processor	A loan processor is responsible for assisting customers with their loan requests, ensuring their eligibility, and choosing the best loan options for their needs. Loan processors carefully review loan application documents and prepare loan proposals for underwriting, analyzing the applicant's financial status and credit scores, processing repayment plans, and adhering to banking and financial regulations... Show more	$13-24

   Show more

2. Create an ideal candidate profile

   Common skills:

   • Customer Service
   • Loan Payments
   • Outbound Calls
   • Escrow Accounts
   • Mortgage Loans
   • ACH
   • Customer Inquiries
   • Loan Applications
   • Loan Accounts
   • General Ledger Accounts
   • Customer Calls
   • Delinquent Accounts
   • Foreclosure
   • Escrow Analysis

   Check all skills

   Responsibilities:

   • Manage customer relations with internal personnel, group administrators, brokers and members as related to Medicare insurance.
   • Track, compile, and send HUD and VA binders off to respective government agency.
   • Approve final numbers on HUD closing contract, turn in final sign contract to lender for funding.
   • Provide research support functions to management and sales representatives on check copies, ACH maintenance and speed-pay income.
   • Complete address changes, respond to emails, opt out requests, return mail, ACH inquiries and enrollment.
   • Provide internal and external customers with require foreclosure documents while meeting require deadlines.

   More loan services representative duties

3. Make a budget

   Including a salary range in your loan services representative job description is a great way to entice the best and brightest candidates. A loan services representative salary can vary based on several factors:

   • Location. For example, loan services representatives' average salary in missouri is 52% less than in new york.
   • Seniority. Entry-level loan services representatives earn 85% less than senior-level loan services representatives.
   • Certifications. A loan services representative with a few certifications under their belt will likely demand a higher salary.
   • Company. Working for a prestigious company or an exciting start-up can make a huge difference in a loan services representative's salary.

   Average loan services representative salary

   $38,603yearly

   $18.56 hourly rate

   ---

   Entry-level loan services representative salary

   $15,000 yearly salary

   Updated January 23, 2026

   Average loan services representative salary by state

   Rank	State	Avg. salary	Hourly rate
   1	Maryland	$75,776	$36
   2	New York	$74,726	$36
   3	Massachusetts	$70,732	$34
   4	Connecticut	$68,206	$33
   5	California	$63,181	$30
   6	Pennsylvania	$60,410	$29
   7	Illinois	$57,567	$28
   8	Washington	$56,985	$27
   9	Wisconsin	$53,764	$26
   10	Colorado	$51,899	$25
   11	North Carolina	$51,107	$25
   12	Minnesota	$49,377	$24
   13	Texas	$49,096	$24
   14	Arizona	$47,953	$23
   15	Ohio	$45,950	$22
   16	Utah	$45,307	$22
   17	Wyoming	$43,615	$21
   18	Georgia	$43,461	$21
   19	Alabama	$43,241	$21
   20	Florida	$38,927	$19

   Average loan services representative salary by company

   Company

   Rank	Company	Average salary	Hourly rate	Job openings
   1	Jersey Shore State Bank	$149,029	$71.65
   2	CB&S Bank	$123,611	$59.43	8
   3	Northwest Bank	$84,606	$40.68	5
   4	Spencer Savings Bank	$81,214	$39.05
   5	Newtown Savings Bank	$81,104	$38.99
   6	Commerce Bank	$74,614	$35.87	5
   7	Air Products	$71,133	$34.20	3
   8	Bank of America	$63,945	$30.74	46
   9	Richmond American Homes	$63,593	$30.57	5
   10	Wells Fargo	$62,578	$30.09	22
   11	Riverview Community Bank	$58,240	$28.00	3
   12	City Bank & Trust	$57,158	$27.48
   13	1st Security Bank	$56,153	$27.00	5
   14	The Cape Cod Five Cents Savings Bank	$55,696	$26.78
   15	Glacier Ban	$54,999	$26.44
   16	Wayne Savings Community Bank	$54,248	$26.08	1
   17	Mid Penn Bank	$52,252	$25.12	19
   18	Cambridge Trust	$50,445	$24.25
   19	BankFinancial	$48,890	$23.50
   20	Schools	$47,369	$22.77	9

4. Writing a loan services representative job description

   A good loan services representative job description should include a few things:

   • Summary of the role
   • List of responsibilities
   • Required skills and experience

   Including a salary range and the first name of the hiring manager is also appreciated by candidates. Here's an example of a loan services representative job description:

   Loan services representative job description example

   **If you are a current FIB employee, please apply through the Career Worklet in the Employee Portal.
   This position is located at our Spokane Downtown branch.
   
   SUMMARY
   Provide general customer service and task management related to Mortgage Loans. Collaborate across servicing and other related mortgage loan teams to accommodate customer requests and improve process and workflow.
   
   ESSENTIAL DUTIES & RESPONSIBILITIES include the following; other duties may be assigned.
   Assist with customer service calls regarding account inquiries, problem solving and complaint resolution.Ensure all appropriate insurance coverage is in place for all serviced loans, to include vendor communication when necessary.Payment and payoff processing Updating data in the servicing core system, and documenting customer contact Ensure compliance with all regulatory and investor guidelines.
   
   QUALIFICATIONS
   To perform the job successfully, an individual must be able to perform each essential duty satisfactorily. The requirements listed below are representative of the knowledge, skill, and/or ability required. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions
   
   EDUCATION & EXPERIENCE
   High School Diploma or General Education Degree (GED) and previous Customer Service experience required. The ideal candidate will possess skills in accounting, be able to multi-task and must be very organized. Prior Mortgage Loan Servicing experience is preferred.
   
   LANGUAGE SKILLS
   Ability to read and comprehend instructions, short correspondence, and memos. Ability to write simple correspondence. Ability to effectively present information one-on-one and small group situations to customers and other employees of the organization.
   
   MATHEMATICAL SKILLS
   Ability to calculate in all units of measure using whole numbers, fractions, and decimals. Ability to calculate figures and amounts such as discounts, interest, commissions, proportions, percentages, area, circumference, and volume in all units of measure. Ability to apply concepts of basic algebra and geometry.
   
   REASONING ABILITY
   Ability to apply common sense understanding to carry out instructions furnished in written and/or oral form. Ability to solve practical problems and deal with a variety of situations. Ability to interpret documents to ensure they are correct.
   
   PHYSICAL DEMANDS
   While performing the duties of this job, the employee is regularly required to use hands to finger, handle, or feel; reach with hands and arms; and talk or hear. The employee frequently is required to walk, sit, and climb or balance. The employee is occasionally required to stand and stoop, kneel, crouch, or crawl. The employee must occasionally lift and/or move up to 10 pounds. Specific vision abilities required by this job include close vision, distance vision, color vision, peripheral vision, and ability to adjust focus.
   
   WORK ENVIRONMENT
   The work environment characteristics described here are representative of those an employee encounters while performing the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.
   
   The noise level in the work environment is usually moderate.
   **If you are a current FIB employee, please apply through the Career Worklet in the Employee Portal.

   Copy this example

   

5. Post your job

   To find loan services representatives for your business, try out a few different recruiting strategies:

   • Consider internal talent. One of the most important talent pools for any company is its current employees.
   • Ask for referrals. Reach out to friends, family members, and your current work to ask if they know any loan services representatives they would recommend.
   • Recruit at local colleges. Attend job fairs at local colleges to recruit entry-level loan services representatives with the right educational background.
   • Social media platforms. LinkedIn, Facebook, and Twitter have more than 3.5 billion users, and they're a great place for company branding and reaching potential job candidates.

   Post your job online:

   • Post your loan services representative job on Zippia to find and recruit loan services representative candidates who meet your exact specifications.
   • Use field-specific websites.
   • Post a job on free websites.

6. Interview candidates

   To successfully recruit loan services representatives, your first interview needs to engage with candidates to learn about their interest in the role and experience in the field. You can go into more detail about the company, the role, and the responsibilities during follow-up interviews.

   It's also good to ask about candidates' unique skills and talents to see if they match your ideal candidate profile. If you think a candidate is good enough for the next step, you can move on to the technical interview.

   The right interview questions can help you assess a candidate's hard skills, behavioral intelligence, and soft skills.

7. Send a job offer and onboard your new loan services representative

   Once you've decided on a perfect loan services representative candidate, it's time to write an offer letter. In addition to salary, it should include benefits and perks available to the employee. Qualified candidates may be considered for other positions, so make sure your offer is competitive. Candidates may wish to negotiate. Once you've settled on the details, formalize your agreement with a contract.

   It's also important to follow up with applicants who do not get the job with an email letting them know that the position is filled.

   Once that's done, you can draft an onboarding schedule for the new loan services representative. Human Resources should complete Employee Action Forms and ensure that onboarding paperwork is completed, including I-9s, benefits enrollment, federal and state tax forms, etc. They should also ensure that new employee files are created for internal recordkeeping.

8. Go through the hiring process checklist

   • Determine employee type (full-time, part-time, contractor, etc.)
   • Submit a job requisition form to the HR department
   • Define job responsibilities and requirements
   • Establish budget and timeline
   • Determine hiring decision makers for the role
   • Write job description
   • Post job on job boards, company website, etc.
   • Promote the job internally
   • Process applications through applicant tracking system
   • Review resumes and cover letters
   • Shortlist candidates for screening
   • Hold phone/virtual interview screening with first round of candidates
   • Conduct in-person interviews with top candidates from first round
   • Score candidates based on weighted criteria (e.g., experience, education, background, cultural fit, skill set, etc.)
   • Conduct background checks on top candidates
   • Check references of top candidates
   • Consult with HR and hiring decision makers on job offer specifics
   • Extend offer to top candidate(s)
   • Receive formal job offer acceptance and signed employment contract
   • Inform other candidates that the position has been filled
   • Set and communicate onboarding schedule to new hire(s)
   • Complete new hire paperwork (i9, benefits enrollment, tax forms, etc.)

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