Median pay for Loan Operations Specialists in the United States lies in the neighborhood of $15.21 per hour. Career length and the particular city each impact pay for this group, with the former having the largest influence. Job satisfaction for Loan Operations Specialists is high. A large number have medical and dental plans, and the greater part have vision insurance. Men are in the minority of survey respondents, with female Loan Operations Specialists making up 78 percent. This report is based on responses to the PayScale salary survey.

$28,724 - $60,197
(Median)
$29K
$41K
$60K
MEDIAN: $40,749
10%
50%
90%

Add this chart to your site: 640px    300px

$12.25 - $20.47
(Median)
$12
$15
$20
MEDIAN: $15.00
10%
50%
90%

Add this chart to your site: 640px    300px

National Salary Data (?
XAll compensation data shown are gross 10th to 90th percentile ranges. Take the PayScale Survey to find out how location influences pay for this job.
)
$0$21K$42K$63K
Salary
$28,724 - $60,197  
   
Bonus
$495.51 - $10,090  
Total Pay (?
XTotal Pay combines base annual salary or hourly wage, bonuses, profit sharing, tips, commissions, overtime pay and other forms of cash earnings, as applicable for this job. It does not include equity (stock) compensation, cash value of retirement benefits, or the value of other non-cash benefits (e.g. healthcare).
)
$26,973 - $54,915  
Country: United States | Currency: USD | Updated: 28 Oct 2016 | Individuals Reporting: 116
National Hourly Rate Data (?
XAll compensation data shown are gross 10th to 90th percentile ranges. Take the PayScale Survey to find out how location influences pay for this job.
)
$0$14$28$42
Hourly Rate
$12.25 - $20.47  
   
Hourly Tips
$1.78  
Overtime
$18.09 - $40.17  
National Annualized Data (?
XAll compensation data shown are gross 10th to 90th percentile ranges. Take the PayScale Survey to find out how location influences pay for this job.
)
$0$28K$56K$84K
Bonus
$495.51 - $10,090  
   
Total Pay (?
XTotal Pay combines base annual salary or hourly wage, bonuses, profit sharing, tips, commissions, overtime pay and other forms of cash earnings, as applicable for this job. It does not include equity (stock) compensation, cash value of retirement benefits, or the value of other non-cash benefits (e.g. healthcare).
)
$26,973 - $54,915  
Country: United States | Currency: USD | Updated: 28 Oct 2016 | Individuals Reporting: 120
United States (change)

Find Out Exactly What You Should Be Paid

United States (change)


Employers: Start Here »

Job Description for Loan Operations Specialist

Loan operations specialists work primarily in the financial industry for banks, credit unions, or mortgage companies and are responsible for processing loan applications and reviewing loan documents to ensure their accurate completion. It is also important that all documents adhere to their institutions' established requirements and government regulations.

Read More...

Loan Operations Specialist Tasks

  • Update and capture interactions and communications in software systems.
  • Communicate with lawyers, borrowers, agencies and other groups to facilitate loans or collections.
  • Process loan documentation, identifying and seeking missing paperwork or information.
  • Perform payments and adjust balances.

Loan Administrator Job Listings

Search for more jobs:

Popular Skills for Loan Operations Specialist


Loan Operations Specialists report using a pretty varied skill set on the job. Most notably, skills in General Ledger Accounting, Commercial Loans, Consumer Loans, and Regulatory Compliance are correlated to pay that is above average, with boosts between 4 percent and 13 percent. Skills that seem to negatively impact pay include Auditing. Most people experienced in Loan Documents also know Commercial Loans.

Pay by Experience Level for Loan Operations Specialist

Median of all compensation (including tips, bonus, and overtime) by years of experience.


Loan Operations Specialists do not generally earn higher incomes from more experience in the field. Loan Operations Specialists in the early stages of their careers take home approximately $33K on average. The average for people in the five-to-10 year group is only a little larger at $36K. Loan Operations Specialists claiming one to two decades of experience make an estimated median of $41K. After two decades in the workforce, the average Loan Operations Specialist generally earns more than ever; median pay for this group is estimated at $46K.

Related Job Salaries

United States (change)

Find Out Exactly What You Should Be Paid

United States (change)


Employers: Start Here »

Experience Affects Loan Operations Specialist Salaries

Late-Career
up arrow 28%

Experienced
up arrow 16%

Mid-Career
up arrow 1%

National Average
$36,000

Entry-Level
up arrow 7%

Skills That Affect Loan Operations Specialist Salaries

Commercial Loans
up arrow 13%

General Ledger Accounting
up arrow 13%

Consumer Loans
up arrow 4%

Regulatory Compliance
up arrow 2%

Loan Documents
up arrow 1%

National Average
$36,000

Loan Processing
up arrow 1%

Auditing
up arrow 12%

Job Satisfaction

Highly satisfied
Rated 4 out of 5
based on 25 votes.

Gender

Female
78 %
Male
22 %

Years of Experience

Less than 1 year
5%
1-4 years
41%
5-9 years
20%
10-19 years
25%
20 years or more
10%

Common Health Benefits

medical benefits
Medical: 85%
dental benefits
Dental: 82%
medical benefits
Vision: 65%
dental benefits
None: 11%
ADVERTISEMENT