The average hourly pay for a Mortgage Loan Processor at Navy Federal Credit Union is $17.23.
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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.
Popular Employer Salaries for Mortgage Loan Processor
The top respondents for the job title Mortgage Loan Processor are from the companies Wells Fargo Home Mortgage, Bank of America Corp. (BOFA) and U.S. Bank. Reported salaries are highest at Wells Fargo Home Mortgage where the average pay is $20.87. Other companies that offer high salaries for this role include Bank of America Corp. (BOFA) and Fairway Mortgage, earning around $20.47 and $20.00, respectively. Chase Bank pays the lowest at around $15.66. U.S. Bank and Citibank also pay on the lower end of the scale, paying $17.22 and $17.94, respectively.
Mortgage Loan Processor Job Listings
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Popular Skills for Mortgage Loan Processor
Avg. Hourly Rate
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 Difference by Location
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Years of Experience
This data is based on 5 survey responses.
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