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Loan Processor

Loan Processor job description

Loan processors review, verify and prepare loan applications for approval. They serve as a liaison between borrowers, loan officers and underwriters to ensure all documentation is accurate, complete and compliant with regulatory standards. This role is essential for maintaining efficient loan operations and delivering a smooth customer experience.

Typical loan processor duties:

Review loan applications and supporting documentation for accuracy and completenessVerify borrower information, including income, employment, credit and assetsCommunicate with applicants to request missing information or clarify discrepanciesPrepare and submit loan files to underwriters for approvalEnsure compliance with lending regulations, company policies and investor guidelinesCoordinate with loan officers, underwriters, title companies and other third partiesTrack loan statuses and provide timely updates to all stakeholdersMaintain organized records and documentation throughout the loan process

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National salary range for Loan Processor

40250 - 60000

Low
40250
The candidate is new to the role or has limited experience and is still developing core skills.
Mid
47750
The candidate has moderate experience in the role or one similar, meets most requirements and may hold transferable skills or relevant certifications.
High
60000
The candidate has extensive experience in the role, demonstrates advanced skills and often brings specialized certifications or industry experience.
Projected salaries for related positions Job title Low Mid High Operations Director 135000 163500 192500 Operations Manager 90000 112500 133750 Client Service Representative 57000 82500 106000 Mortgage Underwriter 62000 77000 103000 Mortgage Processor 33750 42250 57250 Loan Administrator 35000 40500 50250 Performance Analyst 60500 74250 91750 Trader/Sales Assistant 53750 66250 78750

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2027 Salary Guide Explore the latest data for roles in 7 professional fields and know what you should pay or earn in local and national markets.
Demand for Skilled Talent Check out our Demand for Skilled Talent report to learn about employers’ hiring plans and needs.
Labor market overview Stay on top of U.S. Bureau of Labor Statistics and job posting data to learn about today’s hiring market.
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What's inside the Salary Guide Learn how our salary benchmarks reflect accurate marketplace data through a rigorous, multistep verification process.
The salary benchmarks in the Salary Guide From Robert Half are the result of a rigorous, multistep process designed to reflect projected market trends for 2027. They are based on actual compensation for professionals Robert Half has placed nationwide, along with third-party job posting data from Textkernel that we use for independent validation. Learn more about our methodology.