Mortgage Processing Manager Salary

With around three in five of Mortgage Processing Managers in the United States reporting more than 10 years of experience, the field is heavily weighted toward experienced professionals. Average pay for Mortgage Processing Managers is $57K annually and can range from $41K on the lower end to $83K per year near the higher end. Most report receiving medical coverage from their employers and a strong majority collect dental insurance. Work is enjoyable for Mortgage Processing Managers, who typically claim high levels of job satisfaction. Men are in the minority of survey respondents, with female Mortgage Processing Managers making up 78 percent.

$39,024 - $79,915

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$14.54 - $25.76

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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$28K$56K$84K
Salary
$39,024 - $79,915  
   
Bonus
$0.00 - $10,287  
Profit Sharing
$250.00 - $4,500  
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).
)
$40,972 - $83,019  
Country: United States | Currency: USD | Updated: 18 Jul 2015 | Individuals Reporting: 188
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
$14.54 - $25.76  
   
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
$0.00 - $10,287  
   
Profit Sharing
$250.00 - $4,500  
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).
)
$40,972 - $83,019  
Country: United States | Currency: USD | Updated: 18 Jul 2015 | Individuals Reporting: 15
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Job Description for Mortgage Processing Manager

A mortgage processing manager is primarily responsible for supervising lenders who are processing mortgage loan applications and ensuring compliance with various regulations. This type of position is found in agencies such as banks, credit unions, or lending companies and will typically keep daytime office hours. However, additional hours may be necessary at various times. This type of position typically requires a bachelor’s degree and at least five years of experience within the mortgage loan processing industry. Processional licensing in mortgage loans is also required.

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Mortgage Processing Manager Tasks

  • Hire, train, evaluate, and discipline lending staff.
  • Develop and implement strategies to improve loan department efficiency and meet sales targets.
  • Supervise lenders processing loan applications, managework flow, and ensure compliance with regulations.
  • Generate new business through sales outreach.

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Mortgage Processing Managers who responded to the survey report just a handful of professional skills. Loan Processing and Mortgage Loans are considered valuable skills and can increase employee pay by 6 percent and 3 percent, respectively.

Pay by Experience Level for Mortgage Processing Manager

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


Salaries for the relatively untried average out to around $51K, but survey participants with five to 10 years of experience earn a significantly higher median of $56K. People with 10 to 20 years of experience make an average of about $61K in this role. Folks who claim more than 20 years of relevant experience actually report a comparatively lower median income of $59K.

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Experience Affects Mortgage Processing Manager Salaries

Experienced
up arrow 5%

Late-Career
up arrow 2%

National Average
$58,000

Mid-Career
up arrow 4%

Entry-Level
up arrow 12%

Skills That Affect Mortgage Processing Manager Salaries

Loan Processing
up arrow 6%

Mortgage Loans
up arrow 3%

National Average
$58,000

Job Satisfaction

Extremely satisfied
Rated 5 out of 5
based on 33 votes.

Gender

Female
78 %
Male
22 %

Years of Experience

Less than 1 year
1%
1-4 years
19%
5-9 years
22%
10-19 years
43%
20 years or more
15%

Common Health Benefits

medical benefits Medical: 82% dental benefits Dental: 76%
vision benefits Vision: 60% employee benefits None: 15%
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