Vice President (VP), Mortgage Lending Salary

On average, commissions constitute a fair portion (three in five) of final income for VPs of Mortgage Lending. That final number averages out to $93K across the industry. In the world of VPs of Mortgage Lending, total cash compensation can vary between $55K and $168K. Each package generally includes bonuses and profit sharing proceeds, and in exceptional cases, those amounts can reach heights of $45K and $15K, respectively. Women make up the majority of VPs of Mortgage Lending (61 percent) who completed the questionnaire. Work is enjoyable for VPs of Mortgage Lending, who typically claim high levels of job satisfaction. Almost all report receiving medical coverage from their employers and a fair number collect dental insurance. This snapshot results from replies to PayScale's salary survey.

$50,871 - $144,688
$51K
$84K
$140K
MEDIAN: $84,312
10%
50%
90%

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$0$178K
Salary $50,871 - $144,688
Bonus $3,907 - $45,456
Profit Sharing $387.83 - $15,456
Commission $70,000
Total Pay (?
XTotal Pay combines base annual salary or hourly wage, bonuses, profit sharing, tips, commissions, overtime pay and other forms of cash earnings, as applicable for this job. It does not include equity (stock) compensation, cash value of retirement benefits, or the value of other non-cash benefits (e.g. healthcare).
)
$54,486 - $178,212
  • Country: United States
  • Currency: USD
  • Updated: 20 Sep 2017
  • Individuals Reporting: 111

Find Out Exactly What You Should Be Paid

United States (change)

Job Description for Vice President (VP), Mortgage Lending

A vice president (VP) of mortgage lending overseas their financial institution's mortgage lending department, which can be in one location or an entire region. The vice president structures credit policies for the company; for example, this includes the requirements that must be met before a customer secures a loan and requirements to obtain pre-approval. Additionally, guidelines for the underwriting department and other departments involved in the loan evaluation and granting process are created and modified by the vice president when necessary.

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Vice President (VP), Mortgage Lending Tasks

  • Work with senior management to develop strategic plans to develop and improve lending operations.
  • Examine department service, processes, and products to make sure they meet customer needs.
  • Oversee loan department processes to ensure all procedures and regulations are followed.
  • Manage the operations of the loan department, including sales, reviewing applications, and closing loans.

Vice President (VP), Mortgage Lending Job Listings

Pay by Experience Level for Vice President (VP), Mortgage Lending

Pay by Experience for a Vice President (VP), Mortgage Lending has a positive trend. An entry-level Vice President (VP), Mortgage Lending with less than 5 years of experience can expect to earn an average total compensation of $70,000 based on 9 salaries provided by anonymous users. Average total compensation includes tips, bonus, and overtime pay. A Vice President (VP), Mortgage Lending with mid-career experience which includes employees with 5 to 10 years of experience can expect to earn an average total compensation of $111,000 based on 15 salaries. An experienced Vice President (VP), Mortgage Lending which includes employees with 10 to 20 years of experience can expect to earn an average total compensation of $96,000 based on 51 salaries. A Vice President (VP), Mortgage Lending with late-career experience which includes employees with greater than 20 years of experience can expect to earn an average total compensation of $97,000 based on 59 salaries.

Related Job Salaries

Key Stats for Vice President (VP), Mortgage Lending

Gender

Female
60 %
Male
40 %

Job Satisfaction

Extremely satisfied
Rated 5 out of 5
based on 21 votes.
1-4 years
2%
5-9 years
8%
10-19 years
42%
20 years or more
48%
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Location:
Years in Fields/Career:
United States (change)

Experience Affects Vice President (VP), Mortgage Lending Salaries

Mid-Career
▲18%

▲4%

▲2%

National Average
$94,000

Entry-Level
▼26%

Skills That Affect Vice President (VP), Mortgage Lending Salaries


National Average
$94,000


Mortgage Loans
▼13%

Job Satisfaction

Extremely satisfied
Rated 5 out of 5
based on 21 votes.

Gender

Female
60 %
Male
40 %

Years of Experience

1-4 years
2%
5-9 years
8%
10-19 years
42%
20 years or more
48%

Common Health Benefits

medical benefits
Medical: 93%
dental benefits
Dental: 76%
vision benefits
Vision: 67%
no benefits
None: 6%
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