Senior loan processors work in financial institutions. Their job is to solicit, negotiate and coordinate consumer and commercial loans. Their duties include verifying documents, boarding various loan types, supervising billings, ensuring loan maintenance, and collecting insurance information. You must ensure that all required documentation for loans is complete and accurate. You might be required to underwrite requirements for FNMA, FHLMC, FHA, local bonding programs, and private investors. You must also monitor and ensure compliance with regulatory and secondary market guidelines with FNMA, FHLMC, VA, FHA investors, and PMI loans. You must be able to relate with people from diverse backgrounds as you will have the privilege of meeting a wide array of people.
You need skills like loan portfolio, customer service, loan application, VA, as well as great interpersonal and detail-oriented skills. Senior loan processors commonly study business, accounting, or finance. They make an average salary of $29.69 per hour and $61,754 annually.
How to Become a Senior Loan Processor
What is a Senior Loan Processor
There is more than meets the eye when it comes to being a Senior Loan Processor. For example, did you know that they make an average of $25.81 an hour? That's $53,690 a year!
Between 2018 and 2028, the career is expected to grow 8% and produce 24,300 job opportunities across the U.S.
What Does a Senior Loan Processor Do
There are certain skills that many Senior Loan Processors have in order to accomplish their responsibilities. By taking a look through resumes, we were able to narrow down the most common skills for a person in this position. We discovered that a lot of resumes listed Detail oriented, Initiative and Interpersonal skills.
How To Become a Senior Loan Processor
If you're interested in becoming a Senior Loan Processor, one of the first things to consider is how much education you need. We've determined that 50.3% of Senior Loan Processors have a bachelor's degree. In terms of higher education levels, we found that 4.1% of Senior Loan Processors have master's degrees. Even though most Senior Loan Processors have a college degree, it's possible to become one with only a high school degree or GED.
Choosing the right major is always an important step when researching how to become a Senior Loan Processor. When we researched the most common majors for a Senior Loan Processor, we found that they most commonly earn Bachelor's Degree degrees or Associate Degree degrees. Other degrees that we often see on Senior Loan Processor resumes include High School Diploma degrees or Master's Degree degrees.
You may find that experience in other jobs will help you become a Senior Loan Processor. In fact, many Senior Loan Processor jobs require experience in a role such as Loan Processor. Meanwhile, many Senior Loan Processors also have previous career experience in roles such as Processor or Customer Service Representative.
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Senior Loan Processor Career Paths
As you move along in your career, you may start taking on more responsibilities or notice that you've taken on a leadership role. Using our career map, a Senior Loan Processor can determine their career goals through the career progression. For example, they could start out with a role such as Senior Underwriter, progress to a title such as Underwriting Manager and then eventually end up with the title Underwriting Manager.
Senior Loan Processor Jobs You Might Like
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Average Salary for a Senior Loan Processor
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12 Senior Loan Processor Resume Examples
Build a professional senior loan processor resume in minutes. Browse through our resume examples to identify the best way to word your resume. Then choose from 12+ resume templates to create your senior loan processor resume.
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Scott Rogers Senior Loan Processor |
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Douglas Grant Senior Loan Processor Experience Senior Loan Processor2019 - Present JPMorgan Chase•Chandler, AZ
Underwriter2009 - 2019 Wells Fargo•Chandler, AZ
Loan Officer (Part-Time)2002 - 2004 Chase Center on the Riverfront•Chandler, AZ
Skills Risk ManagementLoan ApplicationsAppropriate Loan ProgramEnsure ComplianceUnderwriting GuidelinesFinancial GoalsFinancial StatusCalculate IncomeFinancial StatementsNew Customers Education Bachelor's Degree Business2001 - 2004 American InterContinental University•Chandler, AZ |
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Learn How To Write a Senior Loan Processor Resume
At Zippia, we went through countless Senior Loan Processor resumes and compiled some information about how to optimize them. Here are some suggestions based on what we found, divided by the individual sections of the resume itself.
View Senior Loan Processor Resume Examples And TemplatesAnd if you’re looking for a job, here are the five top employers hiring now:
Choose From 10+ Customizable Senior Loan Processor Resume templates
Zippia allows you to choose from different easy-to-use Senior Loan Processor templates, and provides you with expert advice. Using the templates, you can rest assured that the structure and format of your Senior Loan Processor resume is top notch. Choose a template with the colors, fonts & text sizes that are appropriate for your industry.
Find the best Senior Loan Processor job for you
Senior Loan Processor Jobs You Might Like
- High Paying Senior Loan Processor Jobs - $87K and Up
- Work From Home Senior Loan Processor Jobs
- Entry Level Senior Loan Processor Jobs
- Part Time Senior Loan Processor Jobs
- Actively Hiring
- No Degree Senior Loan Processor Jobs
Top Colleges for Senior Loan Processors
1. University of Pennsylvania
Philadelphia, PA • Private
2. Northwestern University
Evanston, IL • Private
3. University of Southern California
Los Angeles, CA • Private
4. SUNY at Binghamton
Vestal, NY • Private
5. Villanova University
Villanova, PA • Private
6. San Diego State University
San Diego, CA • Private
7. Bentley University
Waltham, MA • Private
8. Boston University
Boston, MA • Private
9. SUNY Stony Brook
Stony Brook, NY • Private
10. New York University
New York, NY • Private
Find the best Senior Loan Processor job for you
Senior Loan Processor Jobs You Might Like
- High Paying Senior Loan Processor Jobs - $87K and Up
- Work From Home Senior Loan Processor Jobs
- Entry Level Senior Loan Processor Jobs
- Part Time Senior Loan Processor Jobs
- Actively Hiring
- No Degree Senior Loan Processor Jobs
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Top Skills For a Senior Loan Processor
The skills section on your resume can be almost as important as the experience section, so you want it to be an accurate portrayal of what you can do. Luckily, we've found all of the skills you'll need so even if you don't have these skills yet, you know what you need to work on. Out of all the resumes we looked through, 22.9% of Senior Loan Processors listed Loan Portfolio on their resume, but soft skills such as Detail oriented and Initiative are important as well.
Best States For a Senior Loan Processor
Some places are better than others when it comes to starting a career as a Senior Loan Processor. The best states for people in this position are North Carolina, Texas, Maryland, and New York. Senior Loan Processors make the most in North Carolina with an average salary of $76,016. Whereas in Texas and Maryland, they would average $75,636 and $73,602, respectively. While Senior Loan Processors would only make an average of $71,564 in New York, you would still make more there than in the rest of the country. We determined these as the best states based on job availability and pay. By finding the median salary, cost of living, and using the Bureau of Labor Statistics' Location Quotient, we narrowed down our list of states to these four.
1. Texas
$75,636
Avg. Salary
2. North Carolina
$76,016
Avg. Salary
3. Florida
$64,169
Avg. Salary
How Do Senior Loan Processor Rate Their Jobs?
Top Senior Loan Processor Employers
We've made finding a great employer to work for easy by doing the hard work for you. We looked into employers that employ Senior Loan Processors and discovered their number of Senior Loan Processor opportunities and average salary. Through our research, we concluded that JPMorgan Chase & Co. was the best, especially with an average salary of $57,925. Bank of America follows up with an average salary of $43,449, and then comes Wells Fargo with an average of $43,412. In addition, we know most people would rather work from home. So instead of having to change careers, we identified the best employers for remote work as a Senior Loan Processor. The employers include MUFG Americas Holdings, Kforce, and Randstad North America
Senior Loan Processor Videos
