Avg. Base Hourly Rate (USD)
The average hourly pay for a Loan Processor is $22.63 in 2023
What Do Loan Processors Do?
A loan processor is responsible for managing the administrative tasks associated with loans or mortgages. These tasks include data entry, loan application verification, background and credit checks, communicating with applicants, and preparing loan applications for submission to underwriters. Loan processors ensure that all required documentation and signatures are in place prior to submitting the loan for approval. Mortgage loan processors also must be able to deal with real estate and escrow …Read more
- Complete and maintain all paperwork for ongoing and new loans, including loan disclosures.
- Submit completed loans to underwriting, and ensure all items are obtained.
- Order title and escrow, review them and process loan conditions.
- Work with clients and loan originator to obtain necessary information, process it and finalize loan documents.
FAQs About Loan Processors
What is the highest pay for Loan Processors in Milwaukee?
Our data indicates that the highest pay for a Loan Processor in Milwaukee is $NaN / hour
What is the lowest pay for Loan Processors in Milwaukee?
Our data indicates that the lowest pay for a Loan Processor in Milwaukee is $NaN / hour
How can Loan Processors increase their salary?
Increasing your pay as a Loan Processor is possible in different ways. Change of employer: Consider a career move to a new employer that is willing to pay higher for your skills. Level of Education: Gaining advanced degrees may allow this role to increase their income potential and qualify for promotions. Managing Experience: If you are a Loan Processor that oversees more junior Loan Processors, this experience can increase the likelihood to earn more.