Loan Processing Manager Salary
More than half of Loan Processing Managers in the United States have been in the field for more than 10 years. Pay can fall anywhere from $38K to $88K per year, but median earnings come to around $59K annually. Among folks in this role, job satisfaction levels approximately match the national average. There are far more female Loan Processing Managers who answered the questionnaire than men, making up 87 percent. A strong majority report receiving medical coverage from their employers and more than half collect dental insurance. This overview is based on answers to PayScale's salary questionnaire.
Job Description for Loan Processing Manager
- Determine loan processing, approval, and closure processes and guidelines.
- Report on budget, technology, accounts, staff, and regulatory compliance.
- Oversee budget and track metrics for profitability and repayment of different types of loans.
- Train and oversee a team, providing assistance, training and clarification.
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Pay by Experience Level for Loan Processing Manager
Median of all compensation (including tips, bonus, and overtime) by years of experience.
Experience is an important factor influencing the compensation of Loan Processing Managers. Salaries of relatively inexperienced workers fall in the neighborhood of $42K, but folks who have racked up five to 10 years see a notably higher median of $58K. Loan Processing Managers claiming one to two decades of experience make an estimated median of $63K. Respondents who claim more than 20 years of experience may encounter pay that doesn't quite reflect their extensive experience; these veterans report a median income of around $65K.
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