Avg. Base Hourly Rate (USD)
The average hourly pay for a Commercial Loan Processor is $21.85
What Do Commercial Loan Processors Do?
Commercial loan processors are responsible for receiving and processing all incoming loans for an organization. They typically sort and organize incoming loans according to the business’s criteria and enter relevant information into the system, and they are also expected to prepare and mail disclosures as necessary.
Commercial loan processors may assist lending officers and underwriters with any orders, confirmations, and file requirements that may arise, as well as the processing of withdrawn …Read more
- Authorize funding upon verification of all documentation.
- Order credit reports, appraisals, title insurance, and all other certifications as necessary.
- Answer questions regarding closing requirements.
- Maintain communication with brokers partners and closing/settlement agents with loan status.