How to hire a senior loan processor

How to hire a senior loan processor, step by step

Here's a step-by-step senior loan processor hiring guide:

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

What does a senior loan processor do?

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1. Identify your hiring needs

   First, determine the employments status of the senior loan processor you need to hire. Certain senior loan processor roles might require a full-time employee, whereas others can be done by part-time workers or contractors.

   Determine employee vs contractor status

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

   Yes

   No

   A senior loan processor's background is also an important factor in determining whether they'll be a good fit for the position. For example, senior loan processors 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.

   Here's a comparison of senior loan processor salaries for various roles:

   Type of Senior Loan Processor	Description	Hourly rate
   Senior Loan Processor	Loan officers evaluate, authorize, or recommend approval of loan applications for people and businesses.	$15-36
   Closer	The duties of a closer depend on one's line of work or industry of employment. Typically, their responsibilities revolve around liaising with clients to ensure that they understand and adhere to all terms of the agreement, completing all requirements and necessary documents, and maintaining records of all transactions... Show more	$9-19
   Underwriter	An underwriter's duties depend on the line of work or industry involved, such as mortgage companies, insurance, or lending firms. However, an Underwriter's responsibility will mainly revolve around using their extensive expertise on how a company will achieve financial gains, and assessing the possible financial risks of a client by reviewing various aspects to determine their capacity to uphold monetary obligations... Show more	$18-46

   Show more

2. Create an ideal candidate profile

   Common skills:

   • Customer Service
   • FHA
   • Va
   • Property Appraisals
   • Calculate Income
   • Loan Applications
   • Mortgage Loans
   • Credit Reports
   • SR
   • USDA
   • Lenders
   • FNMA
   • Investor Guidelines
   • Underwriting Guidelines

   Check all skills

   Responsibilities:

   • Work knowledge of underwriting requirements for FNMA, FHLMC, FHA, VA, local bonding programs, and private investors.
   • Monitor compliance with the regulatory and secondary markets guidelines with FNMA, FHLMC, VA, FHA investors and PMI loans.
   • Process conforming, non-conforming, FHA, and VA files from the time of application to the day of funding.
   • Analyze all pertinent financial and credit data to determine the loan risk for bank, VA, and investor guidelines.
   • Process, close, and perform preliminary underwriting on conventional, FHA, and VA loans retail purchase and refinance.
   • Create charts and client files using calyx system.

   More senior loan processor duties

3. Make a budget

   Including a salary range in your senior loan processor job description is one of the best ways to attract top talent. A senior loan processor can vary based on:

   • Location. For example, senior loan processors' average salary in idaho is 49% less than in hawaii.
   • Seniority. Entry-level senior loan processors 56% less than senior-level senior loan processors.
   • Certifications. A senior loan processor with certifications usually earns a higher salary.
   • Company. Working for an established firm or a new start-up company can make a big difference in a senior loan processor's salary.

   Average senior loan processor salary

   $50,297yearly

   $24.18 hourly rate

   ---

   Entry-level senior loan processor salary

   $33,000 yearly salary

   Updated December 5, 2025

   Average senior loan processor salary by state

   Rank	State	Avg. salary	Hourly rate
   1	Maryland	$67,102	$32
   2	New York	$63,867	$31
   3	California	$62,750	$30
   4	Texas	$61,851	$30
   5	Virginia	$56,640	$27
   6	Washington	$53,883	$26
   7	Oregon	$53,387	$26
   8	South Dakota	$53,207	$26
   9	Ohio	$51,975	$25
   10	North Carolina	$51,711	$25
   11	Michigan	$51,299	$25
   12	Massachusetts	$50,365	$24
   13	Florida	$49,584	$24
   14	Pennsylvania	$45,579	$22
   15	Tennessee	$45,055	$22
   16	Iowa	$43,831	$21
   17	Indiana	$43,586	$21
   18	Georgia	$43,381	$21
   19	Illinois	$42,012	$20
   20	Arizona	$41,859	$20

   Average senior loan processor salary by company

   Company

   Rank	Company	Average salary	Hourly rate	Job openings
   1	Accenture	$99,976	$48.07
   2	RSM US	$92,501	$44.47
   3	Sabre	$77,052	$37.04
   4	CLEAResult	$74,566	$35.85
   5	Northrop Grumman	$66,384	$31.92	6
   6	JPMorgan Chase & Co.	$65,639	$31.56	27
   7	DCS	$64,720	$31.12
   8	MicroPort	$61,823	$29.72	1
   9	Waltonen Engineering	$61,126	$29.39	1
   10	Amazon	$57,895	$27.83
   11	Volkswagen Group of America	$55,961	$26.90
   12	CyberCoders	$55,923	$26.89
   13	CenterPoint Energy	$53,128	$25.54
   14	Bay Equity Home Loans	$52,963	$25.46
   15	The PNC Financial Services Group	$52,342	$25.16	150
   16	MSX International	$52,187	$25.09
   17	Honeywell	$52,045	$25.02	2
   18	Hometown Lenders	$51,792	$24.90
   19	PDS Tech	$51,201	$24.62
   20	Jobot	$50,951	$24.50

4. Writing a senior loan processor job description

   A job description for a senior loan processor role includes a summary of the job's main responsibilities, required skills, and preferred background experience. Including a salary range can also go a long way in attracting more candidates to apply, and showing the first name of the hiring manager can also make applicants more comfortable. As an example, here's a senior loan processor job description:

   Senior loan processor job description example

   Anticipated Duration: 10-12 Months contract

   c

   Description:

   Job description is as follows:

   The Asset Serv Intmd Assoc Analyst act as liaison between Institutional Clients and Custody Operational groups to ensure timely and accurate resolution of client inquiries. Work to ensure complex Corporate Actions, Income and Proxy events are executed on time, and as directed. Overall knowledgeable in Securities Custody products, domestic and global, and possess navigational skills within the product proprietary systems that support the securities funds and services business. Additionally, candidate should possess basic knowledge of all custodial activity, including, corporate action events, income collection, proxy and tax

   Responsibilities:

   • Manage client inquiries related to Corporate Actions, Income and Proxy events for global accounts. Resolves complex problems where the analysis of situations or data requires an in-depth evaluation of basic securities processing procedures and industry standards.

   • Manage client relationships and demonstrate competence in improving and turning around relationships at risk; seek and create the best possible solutions for clients requiring customized services, greater efficiencies, timeliness and overall quality of services performed.

   • Actively participate with Relationship Management in regular service review meetings, due diligence sessions and client visits.

   • Demonstrate the ability to analyze and resolve client inquires, liaising with internal business partners to deliver best in class client service

   • Maintain focus on client centricity while managing multiple demands and competing priorities in order to deliver value to client.

   • Demonstrates commitment to credit and risk processes through day-to-day activities, sharing information related to regulatory changes and advocating process/policy improvements.

   • Leads projects and/or offer solutions for assigned securities processing area.

   Qualifications:

   • 2-5 years relevant experience

   • Related industry experience

   • Operational knowledge within Finance industry

   • Experience in other financial products outside of asset service will be advantageous

   • Proven experience working within a team environment

   • Excel, Word, Outlook, Access

   • Analytical and numerate, ability to research and resolve complex issues

   • Good written and verbal communication skills

   • Demonstrated strong execution capabilities and ability to research and resolve complex issues

   www.BCforward.com

   www.facebook.com/bcforward

   “We must inform you that during the hiring process, we may ask for you to disclose and provide us with various categories of your personal information, including identifiers such as your name and address, professional information, commercial information, education information, and other related information. Please note that we will only use this information to facilitate and complete the recruiting process. This posting is not an offer of employment. The submission of intentionally false or fraudulent information in response to this job posting shall render the applicant ineligible for the position. BCforward is an equal opportunity employer. Any subsequent offer of employment shall be considered employment at will regardless of the anticipated assignment duration.”

   Company DescriptionBC Forward began as an IT business solutions and staffing firm. Founded in 1998, BCforward has grown with our customers’ needs into a full-service personnel solutions organization. Headquartered in Indianapolis, Indiana, BCforward also operates numerous delivery centers across North America and India. We are currently the largest consulting firm and largest MBE certified firm in Indiana. Our uninterrupted growth has allowed BCforward to deliver uniquely configured IT staffing and project solutions for over years of catering to our customers’ specific needs. BCforward currently maintains a team of over 5000 global resources. With our additional brand, Stafforward, together we have the capabilities to deliver services for a variety of industries in both public and private sectors which allows us to address your most challenging needs.
   www.BCforward.com

   Copy this example

   

5. Post your job

   There are various strategies that you can use to find the right senior loan processor for your business:

   • Consider promoting from within or recruiting from your existing workforce.
   • Ask for referrals from friends, family members, and current employees.
   • Attend job fairs at local colleges to find candidates who meet your education requirements.
   • Use social media platforms like LinkedIn, Facebook, and Twitter to reach potential job candidates.

   To find senior loan processor candidates, you can consider the following options:

   • Post your job opening on Zippia or other job search websites.
   • Use niche websites that focus on engineering and technology jobs, such as efinancialcareers, financialjobsweb.com, careerbank, financial job bank.
   • Post your job on free job posting websites.

6. Interview candidates

   To successfully recruit senior loan processors, 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.

   You should also ask about candidates' unique skills and talents to see if they match the ideal candidate profile you developed earlier. Candidates good enough for the next step can complete 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 senior loan processor

   Once you've found the senior loan processor candidate you'd like to hire, it's time to write an offer letter. This should include an explicit job offer that includes the salary and the details of any other perks. Qualified candidates might be looking at multiple positions, so your offer must be competitive if you like the candidate. Also, be prepared for a negotiation stage, as candidates may way want to tweak the details of your initial offer. Once you've settled on these details, you can draft a contract to formalize your agreement.

   It's also good etiquette to follow up with applicants who don't get the job by sending them an email letting them know that the position has been filled.

   To prepare for the new senior loan processor first day, you should share an onboarding schedule with them that covers their first period on the job. You should also quickly complete any necessary paperwork, such as employee action forms and onboarding documents like I-9, benefits enrollment, and federal and state tax forms. Finally, Human Resources must ensure a new employee file is created for internal record keeping.

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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