Vice President (VP), Mortgage Lending Salary

The average VP of Mortgage Lending in the United States can expect to rake in roughly $84K annually. Total cash compensation to VPs of Mortgage Lending bottoms out near $52K and approaches $143K on the high end; the biggest paychecks include approximately $30K from bonuses and almost $9K from profit sharing. Men working as VPs of Mortgage Lending who took the survey just slightly outnumber women at 55 percent. Most report receiving medical coverage from their employers and a large number collect dental insurance. Most workers in this position report high levels of job satisfaction. The numbers in this rundown were provided by PayScale's salary survey participants.

$48,548 - $125,227

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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$50K$100K$150K
Salary
$48,548 - $125,227  
   
Bonus
$1,184 - $29,851  
Profit Sharing
$2,013 - $8,940  
Commission
$0.00 - $60,000  
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).
)
$51,749 - $142,700  
Country: United States | Currency: USD | Updated: 18 Jul 2015 | Individuals Reporting: 140
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Job Description for Vice President (VP), Mortgage Lending

A vice president (VP) of mortgage lending overseas their financial institution's mortgage lending department, which can be in one location or an entire region. The vice president structures credit policies for the company; for example, this includes the requirements that must be met before a customer secures a loan and requirements to obtain pre-approval. Additionally, guidelines for the underwriting department and other departments involved in the loan evaluation and granting process are created and modified by the vice president when necessary.

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Vice President (VP), Mortgage Lending Tasks

  • Oversee loan department processes to ensure all procedures and regulations are followed.
  • Manage the operations of the loan department, including sales, reviewing applications, and closing loans.
  • Work with senior management to develop strategic plans to develop and improve lending operations.
  • Examine department service, processes, and products to make sure they meet customer needs.

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VPs of Mortgage Lending report a narrow range of specific skills. Those who have experience with Loan Underwriting, Operations Management, and Mortgage Loans can expect to be compensated well for these skills. Skills that pay less than market rate include Mortgage Loans. Aptitude in Loan Underwriting tends to also indicate an understanding of Operations Management.

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Experience Affects Vice President (VP), Mortgage Lending Salaries

Late-Career
up arrow 6%

National Average
$94,000

Experienced
up arrow 2%

Mid-Career
up arrow 11%

Skills That Affect Vice President (VP), Mortgage Lending Salaries

Loan Underwriting
up arrow 4%

Operations Management
0%

National Average
$94,000

Mortgage Loans
up arrow 12%

Job Satisfaction

Extremely satisfied
Rated 5 out of 5
based on 30 votes.

Gender

Female
45 %
Male
55 %

Years of Experience

1-4 years
4%
5-9 years
6%
10-19 years
40%
20 years or more
50%

Common Health Benefits

medical benefits Medical: 88% dental benefits Dental: 81%
vision benefits Vision: 67% employee benefits None: 9%
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