The average salary for a Mortgage Loan Processor in Canada is C$44,075.
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C$35k - C$52k
C$986 - C$10k
C$33k - C$56k
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Job Description for Mortgage Loan Processor
Mortgage loan processors are tasked with double-checking all information in a mortgage loan file before submitting it to an underwriter. This includes specifics such as debt-to-income ratios and the employment information of the person applying for the loan. It is very important for mortgage loan processors to ensure that loan files are ready, because once they are submitted to the underwriter, any mistakes missed by the mortgage loan processor can only be fixed with complicated procedures and c…Read more
Mortgage Loan Processor Tasks
- Interview loan applicants, investigate applicants' backgrounds and verify references.
- Review loan documents and complete transactions between loan establishment, borrowers, and sellers upon approval of loan.
- Prepare loan request papers and related documents then forward to appraisal department.
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Popular Skills for Mortgage Loan Processor
Skills in Loan Processing, Mortgage Loans and Loan Documents are correlated to pay that is above average. Skills that pay less than market rate include Customer Service.
Pay by Experience Level for Mortgage Loan Processor
An early career Mortgage Loan Processor with 1-4 years of experience earns an average total compensation (includes tips, bonus, and overtime pay) of C$41,400 based on 17 salaries. A mid-career Mortgage Loan Processor with 5-9 years of experience earns an average total compensation of C$46,715 based on 5 salaries. An experienced Mortgage Loan Processor with 10-19 years of experience earns an average total compensation of C$46,027 based on 13 salaries.
Employees with Mortgage Loan Processor in their job title in Vancouver, British Columbia earn an average of 9.4% more than the national average. The lowest salaries can be found in Toronto, Ontario (7.4% less).
Years of Experience
This data is based on 35 survey responses.
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