Mortgage Loan Processor

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October 30, 2016

Jobs

Mortgage Loan Processor Job Description

Loan Interviewers and Clerks Interview loan applicants to elicit information; investigate applicants’ backgrounds and verify references; prepare loan request papers; and forward findings, reports, and documents to appraisal department. Review loan papers to ensure completeness, and complete transactions between loan establishment, borrowers, and sellers upon approval of loan.

Mortgage Loan Processor Salary Statistics as of 2015

Average annual salary for a Mortgage Loan Processor is $35263 based on statistics in the U.S. as of 2015. The highest salary recorded was $48258. The lowest salary reported was $24763. These figures will vary on a state to state basis as these are averages across all 50 states.

Median hourly wage for a Mortgage Loan Processor is $13.13 based on statistics in the U.S. as of 2015. The highest hourly rate recorded was $17.56. The lowest hourly rate recorded was $8.7. These figures will vary on a state to state basis as these are averages across all 50 states.

Bonuses for a Mortgage Loan Processor are based on the years of experience using statistics from the U.S. as of 2015. The average bonus recorded was $2700 from people with 15+ years of experience. The average bonus recorded was $0.5 from people with under 1 year of experience.

These are the highest paying states for a Mortgage Loan Processor. These numbers are based of the median annual salary as of 2015.
California – $22,921 – $50,684
Florida – $28,783 – $48,121
Illinois – $26,572 – $48,462
Ohio – $24,161 – $42,082
Pennsylvania – $24,161 – $49,665
Texas – $28,861 – $48,307
Virginia – $24,944 – $48,881

These are the highest paying cities for a Mortgage Loan Processor. These numbers are based of the median annual salary as of 2015.
Oklahoma City, Oklahoma –
Houston, Texas –
Tampa, Florida –
Seattle, Washington –
Chicago, Illinois –
San Antonio, Texas –
Indianapolis, Indiana –

This chart outlines the average annual salary of a Mortgage Loan Processor from the past 5 years. In 2015 the average annual salary was $35263 while in 2007 it was just $32702.29

Job Outlook

Gender Statistics

Related Jobs

20%

80%

Based on our stats gathered across the U.S. 20% of Mortgage Loan Processors were males while 80% were females. These numbers are based on averages across all states combined. Some individual states may have a much different ratio however.

Past Jobs

Loan Processor
$21,929 – $46,690
Customer Service Representative (CSR)
$19,515 – $41,604
Bank Teller
$17,480 – $28,073

Future Jobs

Senior Mortgage Loan Processor
$30,613 – $57,366
Loan Underwriter, Mortgage
$34,753 – $76,452
Administrative Assistant
$21,315 – $43,559


Mortgage Loan Processor Jobs

 

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