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Mortgage Processing Manager Salary

Mortgage Processing Managers in the United States with more than 10 years of experience in their profession represent roughly three-fifths of Mortgage Processing Managers. Salaries average out to around $56K annually and spread from $41K to $82K per year. Job satisfaction is high and work is enjoyable for most Mortgage Processing Managers. Most report receiving medical coverage from their employers and a strong majority collect dental insurance. Men are in the minority of survey respondents, with female Mortgage Processing Managers making up 78 percent. The numbers in this rundown were provided by PayScale's salary survey participants.

$39,059 - $79,169
(Median)
$39K
$56K
$79K
MEDIAN: $56,194
10%
50%
90%

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$14.54 - $25.76
(Median)
$15
$20
$26
MEDIAN: $19.00
10%
50%
90%

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National Salary Data (?
XAll compensation data shown are gross, national 10th to 90th percentile ranges. Pay can vary greatly by location. To view local data, take the PayScale survey.
)
$0$28K$56K$84K
Salary
$39,059 - $79,169  
   
Bonus
$0.00 - $10,228  
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).
)
$40,994 - $82,017  
Country: United States | Currency: USD | Updated: 2 May 2015 | Individuals Reporting: 179
National Hourly Rate Data (?
XAll compensation data shown are gross, national 10th to 90th percentile ranges. Pay can vary greatly by location. To view local data, take the PayScale survey.
)
$0$14$28$42
Hourly Rate
$14.54 - $25.76  
   
National Annualized Data (?
XAll compensation data shown are gross, national 10th to 90th percentile ranges. Pay can vary greatly by location. To view local data, take the PayScale survey.
)
$0$28K$56K$84K
Bonus
$0.00 - $10,228  
   
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).
)
$40,994 - $82,017  
Country: United States | Currency: USD | Updated: 2 May 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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Job skills reported by Mortgage Processing Managers are limited. Loan Processing and Mortgage Loans are considered valuable skills and can increase employee pay by 7 percent and 3 percent, respectively. Competency in Loan Processing frequently indicates knowledge of Mortgage Loans.

Pay by Experience Level for Mortgage Processing Manager

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


Respondents with less than five years' experience take home $50K on average. In contrast, those who have been around for five to 10 years earn a noticeably higher average of $56K. For Mortgage Processing Managers, 10 to 20 years of experience on the job amounts to an average salary of $60K. Respondents who boast more than two decades on the job don't boast commensurate pay, unfortunately; these veterans see average earnings of only $59K.

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United States (change)

Experience Affects Mortgage Processing Manager Salaries

Experienced
up arrow 4%

Late-Career
up arrow 2%

National Average
$58,000

Mid-Career
up arrow 3%

Entry-Level
up arrow 13%

Skills That Affect Mortgage Processing Manager Salaries

Loan Processing
up arrow 7%

Mortgage Loans
up arrow 3%

National Average
$58,000

Job Satisfaction

Extremely satisfied
Rated 5 out of 5
based on 34 votes.

Gender

Female
78 %
Male
22 %

Years of Experience

Less than 1 year
1%
1-4 years
19%
5-9 years
21%
10-19 years
43%
20 years or more
15%

Common Health Benefits

medical benefits Medical: 81% dental benefits Dental: 76%
vision benefits Vision: 59% employee benefits None: 16%
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