Avg. Base Hourly Rate (USD)
The average hourly pay for a Loan Operations Specialist is $15.71
What Do Loan Operations Specialists Do?
Loan operations specialists work primarily in the financial industry for banks, credit unions, or mortgage companies and are responsible for processing loan applications and reviewing loan documents to ensure their accurate completion. It is also important that all documents adhere to their institutions' established requirements and government regulations.
These specialists must contact applicants in a timely manner when documents or applications are incomplete and ensure that post-loan …Read more
- Process loan documentation, identifying and seeking missing paperwork or information.
- Perform payments and adjust balances.
- Update and capture interactions and communications in software systems.
- Communicate with lawyers, borrowers, agencies and other groups to facilitate loans or collections.