Loan Processor in Indianapolis, IN

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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Microsoft Excel

Data Processing

Spreadsheets

Automated Underwriting System

Microsoft Word

Loan Administration

Loan Origination

Underwriting

Mortgage Banking

Photocopying/Scanning documents

Salary for Loan Processor in Indianapolis, IN

36133 - 54563

25th percentile

36133

New to the role, with little or no experience; requires more than casual instruction or supervision to perform day-to-day duties

50th percentile

43165

Has the experience to consistently perform core responsibilities without direct supervision; very comfortable with processes and subject matter associated with the role

75th percentile

54563

Value to the organization goes far beyond the ability to perform normal job duties; has rare qualifications that enable consistent contribution in unique ways; ready for next career level when available

Projected salaries for related positions

Position title

25th percentile

50th percentile

75th percentile

Director of Operations – Financial Services

122220

149865

176055

Manager of Operations – Financial Services

85360

105973

126100

Banking Operations Specialist, 5+ Years' Experience

58685

71538

83420

Banking Operations Specialist, 3-5 Years' Experience

47288

57473

68385

Banking Operations Specialist, 1-3 Years' Experience

39043

48743

56745

Loan Administrator

31525

36375

43893

Mortgage Underwriter

57958

71538

93605

Mortgage Processor

30798

38558

52138

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