Loan Processor in Lansing, MI

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 Lansing, MI

31663 - 47813

25th percentile

31663

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

50th percentile

37825

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

75th percentile

47813

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

107100

131325

154275

Manager of Operations – Financial Services

74800

92863

110500

Banking Operations Specialist, 5+ Years' Experience

51425

62688

73100

Banking Operations Specialist, 3-5 Years' Experience

41438

50363

59925

Banking Operations Specialist, 1-3 Years' Experience

34213

42713

49725

Loan Administrator

27625

31875

38463

Mortgage Underwriter

50788

62688

82025

Mortgage Processor

26988

33788

45688

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