The average salary for a Mortgage Loan Processor at Fairway Mortgage is $50,000.
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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 Bank of America Corp. (BOFA) where the average pay is $47,506. Other companies that offer high salaries for this role include U.S. Bank and Wells Fargo Home Mortgage, earning around $45,978 and $45,781, respectively. Guaranteed Rate Incorporated pays the lowest at around $40,878. Wells Fargo Bank and Navy Federal Credit Union also pay on the lower end of the scale, paying $41,212 and $42,000, respectively.
Mortgage Loan Processor Job Listings
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