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Become A Mortgage Processor

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Working As A Mortgage 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

  • $60,000

    Average Salary

What Does A Mortgage 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.

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How To Become A Mortgage 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.

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Mortgage Processor Jobs

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Mortgage Processor Career Paths

Mortgage Processor
Underwriter Senior Underwriter
Underwriting Manager
8 Yearsyrs
Underwriter Account Manager Vice President
Vice President And Manager
10 Yearsyrs
Underwriter Account Manager
Client Services Manager
7 Yearsyrs
Mortgage Loan Processor Loan Officer Account Executive
Relationship Manager
6 Yearsyrs
Mortgage Loan Processor Loan Officer Credit Analyst
Credit Manager
5 Yearsyrs
Mortgage Loan Processor Senior Loan Processor Office Manager
Administrative Manager
6 Yearsyrs
Mortgage Underwriter Senior Loan Processor Office Manager
Office Manager Of Human Resources
6 Yearsyrs
Mortgage Underwriter Senior Underwriter Assistant Vice President
Manager, Assistant Vice President
7 Yearsyrs
Mortgage Underwriter Senior Loan Processor
Processing Manager
7 Yearsyrs
Loan Closer Team Leader Office Manager
Accountant And Office Manager
6 Yearsyrs
Loan Closer Team Leader Property Manager
Asset Manager
7 Yearsyrs
Loan Closer Team Leader Customer Service Manager
Collections Manager
5 Yearsyrs
Account Executive Manager Property Manager
Real Estate Manager
8 Yearsyrs
Account Executive Consultant Senior Accountant
Accounts Payable Manager
7 Yearsyrs
Specialist Credit Analyst Credit Manager
Accounts Receivable Manager
6 Yearsyrs
Specialist Executive Assistant Assistant Property Manager
Assistant Community Manager
5 Yearsyrs
Specialist Operation Supervisor Assistant Branch Manager
Branch Operations Manager
6 Yearsyrs
Consumer Loan Underwriter Branch Manager Operations Director
Assistant Vice President Operations
8 Yearsyrs
Consumer Loan Underwriter Assistant Branch Manager Banking Center Manager
Client Manager
6 Yearsyrs
Consumer Loan Underwriter Branch Manager Realtor
Real Estate Management Specialist
7 Yearsyrs
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Do you work as a Mortgage Processor?

Help others decide if this is a good career for them

Average Length of Employment
Loan Closer 3.2 years
Mortgage Processor 3.0 years
Loan Processor 2.7 years
Loan Coordinator 2.6 years
Post Closer 2.5 years
Mortgage Clerk 2.2 years
Junior Underwriter 2.2 years
Loan Auditor 2.2 years
Mortgage Analyst 2.0 years
Mortgage Assistant 1.9 years
Junior Processor 1.8 years
Top Careers Before Mortgage Processor
Processor 5.4%
Teller 4.6%
Cashier 3.4%
Top Careers After Mortgage Processor
Underwriter 10.7%
Processor 5.8%
Cashier 2.9%
Specialist 2.3%

Do you work as a Mortgage Processor?

Average Yearly Salary
$60,000
View Detailed Salary Report
$25,000
Min 10%
$60,000
Median 50%
$60,000
Median 50%
$60,000
Median 50%
$60,000
Median 50%
$60,000
Median 50%
$60,000
Median 50%
$60,000
Median 50%
$140,000
Max 90%
Best Paying Company
Citizens Financial Group
Highest Paying City
Bothell, WA
Highest Paying State
Alaska
Avg Experience Level
2.8 years
How much does a Mortgage Processor make at top companies?
The national average salary for a Mortgage Processor in the United States is $60,062 per year or $29 per hour. Those in the bottom 10 percent make under $25,000 a year, and the top 10 percent make over $140,000.

How Would You Rate The Salary Of a Mortgage Processor?

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

Top Skills for A Mortgage Processor

  1. Loan Portfolio
  2. Property Appraisals
  3. Loan Applications
You can check out examples of real life uses of top skills on resumes here:
  • Reviewed the specialty loan portfolio for compliance with all reporting requirements on VA, FHA, Conventional and Jumbo loans.
  • Perform detailed review of appraisal for one-to-four family residential property appraisals to determine acceptability of security for loan programs.
  • Reviewed mortgage loan applications for completeness and accuracy, adhering to regulatory and compliance standards.
  • Insure proper disbursement of funds upon closing, and working closing with title companies to get prompt and timely resolutions.
  • Evaluated loan documentation, calculated income, reviewed assets, analyzed liabilities and cleared conditions per delegated authority.

Mortgage 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 7,370 Mortgage 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 Mortgage Processor Resume

View Resume Examples

Mortgage Processor Demographics

Gender

Female

69.3%

Male

22.5%

Unknown

8.3%
Ethnicity

White

63.1%

Hispanic or Latino

15.3%

Black or African American

11.7%

Asian

6.6%

Unknown

3.3%
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Foreign Languages Spoken

Spanish

62.6%

French

6.1%

Portuguese

4.3%

German

3.7%

Russian

3.1%

Polish

3.1%

Italian

2.5%

Hindi

1.8%

Korean

1.8%

Arabic

1.8%

Bulgarian

1.2%

Hebrew

1.2%

Carrier

1.2%

Tagalog

1.2%

Chinese

1.2%

Vietnamese

0.6%

Marathi

0.6%

Mandarin

0.6%

Tamil

0.6%

Kurdish

0.6%
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Mortgage Processor Education

Schools

University of Phoenix

24.6%

Kaplan University

6.6%

Ashford University

5.4%

Strayer University

5.4%

University of Texas at San Antonio

4.6%

Southern New Hampshire University

4.6%

Liberty University

4.6%

University of Maryland - University College

4.0%

State University of New York Buffalo

3.8%

Nassau Community College

3.8%

Central Piedmont Community College

3.6%

American InterContinental University

3.6%

Northern Virginia Community College

3.6%

University of West Florida

3.4%

Arizona State University

3.2%

San Antonio College

3.2%

Temple University

3.0%

University of Connecticut

3.0%

Miami Dade College

3.0%

Community College of Allegheny County

3.0%
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Majors

Business

37.2%

Accounting

10.1%

Finance

8.0%

Legal Support Services

4.1%

Psychology

3.7%

Marketing

3.4%

Communication

3.2%

Criminal Justice

3.2%

Management

3.1%

Health Care Administration

3.1%

Real Estate

3.1%

Education

2.5%

General Studies

2.5%

Human Resources Management

2.2%

Liberal Arts

2.2%

Nursing

2.0%

Computer Science

1.7%

Economics

1.7%

English

1.6%

Political Science

1.5%
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Degrees

Bachelors

37.7%

Other

30.0%

Associate

15.3%

Masters

8.1%

Certificate

5.2%

Diploma

1.9%

License

1.0%

Doctorate

0.7%
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How Would You Rate Working As a Mortgage Processor?

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Top Mortgage Processor Employers

Jobs From Top Mortgage Processor Employers

Mortgage Processor Videos

21-Days to Better Loan Processing: Day 2

Day In The Life- Mortgage Processor- National

day in the life of a loan processor

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