Loan Processor

Loan Processor Job Description

Companies look for loan processors with one to three years of related experience and a high school diploma or the equivalent. Strong communication and collaboration skills are preferred.

Typical loan processor duties:

Processing loan applications

Explaining loan and disclosure terms to clients

Ensuring that all loan conditions are met before a loan is funded

Verifying that regulatory and/or loan disclosures have been sent to clients

Keeping the processing system up-to-date

Coordinating funding with settlement agents and clients

Providing updates to clients with loans in process

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Salary for Loan Processor

38500 - 58000

25th percentile

38500

The candidate is new to the role and building the needed skills, experience and autonomy.

50th percentile

46000

The candidate has the experience to perform core responsibilities without direct supervision and is comfortable with the role’s processes and subject matter.

75th percentile

58000

The candidate delivers value beyond the stated job duties, has advanced qualifications and experience, and is ready for the next career level.

Projected salaries for related positions

Position title

25th percentile

50th percentile

75th percentile

Director of Operations – Financial Services

129000

158250

185750