Avg. Base Hourly Rate (USD)
The average hourly pay for a Mortgage Loan Processor is $18.60
What is the Pay by Experience Level for Mortgage Loan Processors?
An entry-level Mortgage Loan Processor with less than 1 year experience can expect to earn an average total compensation (includes tips, bonus, and overtime pay) of $16.44 based on 110 salaries. An early career Mortgage Loan Processor with 1-4 years of experience earns an average total compensation of $17.52 based on 640 …Read more
What Do Mortgage Loan Processors Do?
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 …Read more